Question: Financial books wont get handed over- What to do

This is long so bare with me.... I am the incoming PTO president and our board from last ear won't turn over the treasurer books. NOt sure what to do. In the mean time I looked in the orgs email and found that the past board had a mtg after school was let out for summer and the new board was already voted on, and decided to spend all remaining money in the account leaving the new year with $0. Not cool. Now we still owe the district money from last year as well. and they plan on closing the current bank account. There are no by laws in place just yet (by school start we will have some). Is there any laws that are being broken? Help! not sure what to do or where to go from here.

Asked by taylorb17

Answers:

Community Advice

mum24kids writes:
The new Board should be able to go to the bank and get the bank signatures changed so the old Board no longer has access to the money or the ability to shut the account, depending on when the elections took effect and how the bank account was set up.

But there is so much unknown here... It seems a little strange that anyone would think it is ok to spend down to zero if that wasn't part of the budget plan. If you're just getting bylaws, could they be thinking that they are kind of closing out an old organization and making a clean slate for the new structure? Is what they are spending money on not something that would benefit the school? Why don't they know that the district is still owed money? Is there some sort of conflict going on between the old Board and the new?

Community Advice

jlpsencik writes:
Happened here as well. Although the bank would not do anything UNTIL the old board signed over the books so we were stuck. We finally had to consult with the main administarion since the school alone doesn't have anything to do with PTO. It is also now in our bylaws a MINIMUM of $500 MUST be kept in the account for the new school year.