Each year Parent Organizations are required to submit a written report of actual revenues and expenditures (Financial Report) for that school year to the Sponsor, the School Principal, and the Internal Audit department by September 15th, of the following year.

The Treasurer of the Parent Organization should prepare the Financial Report and should ensure that the Financial Report includes:

• Name of school, name of Parent Organization, and the time period covered in the report.
• Actual revenues and expenditures for the applicable school year. The current year report should start at the point in time where the prior year report ended. For example, if the 2019-2020 report ended on June 30, 2020, then the 2020-21 report will begin as of July 1, 2020.
  
  Since clubs may start their new year at various times, the time period used for reporting actual revenues and expenditures may vary from club to club; however, the individual Parent Organizations should try to be consistent in the time period they use from year to year.
• Foot all column totals of the Financial Report for accuracy.
• Name, title, and signature of person who prepared the report.
• Date the report was prepared.

The Parent Organization may want the time period used for reporting purposes to coincide with the election of new officers. If new officers normally come into office May 1^st of each year, the time period for the Financial Report may be from May 1 to April 30, of the following year.

The Financial Report and the Review Report must be presented at a Parent Organization meeting that includes its general membership by October 31^st of each year.