Question: Whose Money is it?

Our PTO houses some money for the Prinicpal/site. It is known that these funds aren't the PTO's yet it is in the PTO bank account. When the school staff or prinicpal needs something,they draw from that money to avoid the red tape of the district and going through them. Our monthly budget reports separates these monies from ours but it's rather confusing. Is this ok?

Asked by Anonymous

Answers:

Advice from PTO Today

Craig writes:
Not really. The principal is hiding money from the school district, which at best is a transgression and at worst could get him fired -- depending probably on how much money is involved. A better way to handle this would be for the PTO to set up a discretionary fund for the principal using PTO money. You might also think about whether there's a source of funds that can be transferred from the school to the PTO to pay for it. For example, maybe the school currently collects the money for annual student photos. The PTO could run that project entirely and devote any income to the discretionary fund.

Community Advice

pat sutton writes:
absolutely not, they need their own separate account. pto/pta checking accounts monies are raised by parents funds to be spent for the kids, teachers and school. these types of stuff can be considered illeagal, not your get rid of it....end of year financial reports how do you justify. give the school a check for that money....

Community Advice

pngai writes:
Anytime someone asks you to help them hide something, deceive the IRS, or get around a process that their employer has, you should think about how this will make you look when the truth comes out.

Community Advice

Naten writes:
I have recently been on an active search for a reliable trading platform and I must say it has been quite an adventure. With so many platforms available, it can be difficult to make a decision. However, I found a great option for myself, read more here, which in my opinion is suitable for both experienced traders and beginners. I hope my experience helps you gain valuable information!