Question: PTO/Funds

Can someone tell me if it's normal for the PTO to give money to the school officer administartor? I was told that she would then keep it in her office in a locked box. Then the PTO will go to her and sign our initials to collect it from her when the PTO needs it. Now I have never heard of this kind of funny business before is this something new? I thought the PTO of the school had it's own secretary, treasurer as well as president & vp. Now shouldn't the PTO have a seperate bank account? Why does the School Office Administratoe need to be holding the money? I don't trust that at all and I don't the PTO will go for this!

Asked by ms dee

Answers:

Advice from PTO Today

bblake writes:
Some organizations don't take the time to open a bank account and then go to the bank and make deposits. It may be that this is what has always been done and it has worked. We do suggest the PTO open a bank account and have a checkbook and disburse the money with a paper trail. Makes it easier to set a budget from year to year when you know how much is being spent and earned on different events. Its easy enough to set up a bank account. Get an EIN from the IRS and you are set to go. Our PTO Start-up Guide as well as the Treasurer's Toolkit are both great resources. You can find them in thePTO Today Store.