Improper behavior:
FILE YOUR TAXES! FORM 990.
You are leagly reqiured to if your gross recipts are $25k or more.
This puts Federal LAW on your side!
Wasted money, missing items, business with
close friends and relatives.
Eliminate it! If they want to donate something, FINE! No money transaction with people directly or extended within the
school.
Strengthen Your BY-LAWS. Meetings, record retention, everything must be at the school!
It the first step of involvement.
We did that before becoming a 501, which has that as a requirement. If everything is at the school then when the new people come in there is no waiting six months for records or anything to be handed down.
I could tell you about the offers to hold meeting at coffee shops that a parent/former officer owns.
We are bonded though our local insurance office (State Farm. The treasurer is the only one that is bonded. She/He has to pass a background check and the form is quite though. We had one treasurer who could not be bonded because of a pass (with the past 7 years) bankrupty. So it is though. I would suggest that all PTO/PTA boards look into it. Ours covers all monies if the treasurer took it. THe only thing is you must be willing to prosecute if you find the treasure has taken the money. Which is something that we had no problem with. Call your local insurance agency and ask them about bonding and what it costs. It does pay to check around as the price does vary big time.
Interested in learning more about bonding.
Is it necessary for the all the executive board or just the treasurer? We have a two signature rule for all checks. Thanks for any guidance.
One more thing on this subject. Having your treasurer bonded is something that every PTO/PTA should look into. After our embezzlment we now require that our treasurer's are bonded. Here it costs $90.00 but we look at it from the stand point of it being a good $90.00 spent.
Sorry to hear about this. I know the feeling of disgust you must have. This happened to us as well. This seems to be happening WAY too much these days. It has been several months for our group & we still can't get over someone taking funds from the children we work hard for. Hang in there & remember that there is a light at the end. I know that sometimes it is very hard to see. Keep up the good work!
