Question: Depositing

Some of our chairpersons hold on to donation checks for a long time before handing them in to our treasurer. Is there a rule on how ling they should be held. I would imagine it messes up the donors check nook if pto is holding for a month

Asked by mvg1013

Answers:

Advice from PTO Today

Rose H writes:
Hi there,
A little curious why anyone would be hanging onto donations for the group. Technically, a bank does not have to honor a check after six months (https://www.forbes.com/sites/moneybuilder/2012/04/26/how-long-are-undeposited-checks-good/#6f254a4945f3). It would make sense to remind chairs to promptly submit checks that they have collected and not that it can be irritating to a donor if a check hasn't been deposited because they can't reconcile their own checkbook.

Rose