How long to keep PTA financial records
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Short answer: Keep receipts and invoices for 7 years, and keep minutes, bylaws and your IRS tax-exempt papers permanently: that's what National PTA's records retention schedule says. If your state PTA has its own schedule, follow it instead, because periods for bank statements and bank matches differ from state to state.
| Record | What the schedules say |
|---|---|
| Receipts and invoices | 7 years (National PTA) |
| Bank statements | 7 years (California State PTA); 3 years (Texas PTA) |
| Monthly bank matches | At least 1 year (National PTA); 3 years (Texas PTA); 7 years (California State PTA) |
| Budgets and financial reports | 7 years (Texas PTA) |
| Main ledger | Permanently (California and Texas PTA) |
| Minutes and bylaws | Permanently (National PTA, the IRS) |
| IRS tax-exempt letter and exemption papers | Permanently (National PTA, the IRS) |
PTA records retention policy
Many state PTAs publish a retention schedule, and some give units a policy template to adopt. Use your state's if there is one, and check it each year, because these lists change. Washington State PTA, for example, updated its timetable in 2025, splitting insurance records into renewals, claims and certificates with different periods.
A school PTO or booster club has no state PTA schedule. It can use a state PTA's schedule as a model, and a CPA can confirm the periods suit your group. Where schedules disagree, keeping a record longer is the safer choice.
Never destroy records while something is open.
Texas PTA records retention
Texas PTA's records retention policy is a fill-in table with columns for the record, who is responsible, where it's stored and for how long. Its examples: account statements and reconciliations 3 years, budgets and financial reports 7 years, and the general ledger, insurance records and non-signer statement reviews permanently. The membership votes to change where records are stored.
What the IRS says
The IRS's guide for tax-exempt groups (Publication 4221-PC) says to keep records until the period for reviewing your return runs out, generally 3 years after the return was due or filed. It says to keep some things permanently: your exemption application, your determination letter, your organizing documents, your bylaws and your board minutes. State PTA schedules usually ask for longer than the IRS minimum.
Where to keep them
The next treasurer inherits whatever system you use, so make it one they can find:
- Use one shared folder owned by the group's email account, not a personal drive.
- Make one folder per school year, with folders inside for statements, receipts, cash counts, reports, minutes, filings and insurance.
- Name files date first, like "2026-10 Bank statement", so they sort in order.
- Download each online statement as a PDF every month. Banks can charge for old ones.
- Write down who keeps each record and where it lives.
- Keep PayPal, Square or Venmo statements next to that month's bank statement.
Questions people ask
Do I keep payment-app statements too?
Yes. Save PayPal, Square or Venmo statements next to the bank statement for the same month, and keep them as long as bank statements.
Can we keep records digitally?
Yes. A shared folder owned by the group works well. If your state PTA’s policy says where records are stored, follow it.
What if the last treasurer threw records away?
Start with what you can get back: the bank can supply old statements, often for a fee. Note what’s missing and who you asked.
Next step: gather what you keep into a PTA treasurer binder for the next treasurer.