HSA Operations

  • Readington Home School Association, Inc.
    P.O. Box 700, Whitehouse Station, New Jersey 08889 

    H.S.A. By-Laws:

    H.S.A. Financial Operations:
    The annual budget is presented to and approved by the Trustees at the Annual Business Meeting held in May. With these figures in mind, the H.S.A. and the Standing Committee Chairs plan events and activities.
    The H.S.A. finances are tracked using “Quick Books”. Monthly Budget vs Actual reports are provided to the H.S.A. Executive Committee. Monthly reports are provided to the Trustees for approval at the quarterly H.S.A. business meetings.
    Not for Profit: In accordance with our budget, all monies received from fundraising are allocated to be spent within the fiscal year. On occasion the H.S.A. will generate more funds than anticipated. As a non-profit organization we must “spend” all these funds. There is an allowance for carrying over “start up costs” to assist the organization prior to income generated by the first major fundraiser.
    Security: Checks and balances are in place to assure responsible and efficient fiscal activity.
    • Two Trustee signatures are required on all funds deposited
    • Two Trustee signatures are required on all expense vouchers in addition to receipts, purchase orders or invoices to back up fund requests.
    • Two Trutsee signatures (Treasurer and President) are required on all H.S.A. checks.
    • A monthly review of the budget and finances occurs at Executive Committee meetings and at quarterly H.S.A. business meetings.
    • An audit committee reviews the fiscal activity of the H.S.A. annually; recommendations are made if needed to improve our financial procedures.
    • We are required to file a tax return annually which is prepared by an accountant, independent from the auditor.
    Tax Exempt Status: We are privileged to be exempt from paying sales tax on items purchased for any H.S.A. activity.

    H.S.A. Calendar:
    Summer Months:
    • Select and announce H.S.A. Scholarship recipient(s).
    • Finalize calendar of events, fundraisers, programs and meetings for upcoming school year in conjunction with the school district.
    September - May:
    • Executive Committee approves the use of Mini-Grant and Disbursement funds by the staff and administrators; conducts routine business transactions.
    March - May:
    • Nominations Committee collects and presents a slate of candidates for Executive Committee vacancies for the upcoming school year. Seek nominations for H.S.A. Scholarships.
    • Annual Business Meeting and Election of Officers; presentation and approval of H.S.A. budget for upcoming school year; appointment of new Standing Committee Chairs begins.
    • Review H.S.A. Scholarship recipient(s). Begin to review calendar of events, fundraisers, programs and meetings for upcoming school year in conjunction with the school district.