I would be very very very hesitant about merging the money, because once you cross that line there is no going back. We're in an ongoing conversation with our administration/board about what to do with the money the PTO raises at fundraisers, and I'll tell you, it ain't pretty. Even if your PTO has a great relationship with the administration now, the tides could change--you could get a new principal, funding for the school could decrease, etc. etc. If I were you, I'd ask the principal how the PTO can be more accessible financially to the school, and find ways to funnel money to the school easily. But ultimately I think you'd be better off if you did not merge.
....and we didn't have problems like that with our account. The Principal was very aware that the PTO account is just that and let us spend our money how we saw fit. The twist with our Principal is her degree, minor in English and Doctors' in Business. It makes good business sense to not "put your hand in the cookie jar". We still kept a ledger, paperwork and a strong relationship with the Accounts Recivable/Payable so that we could keep an accurate balance. At the end of the year there was always a few cents off but it was also nice to have the school's accounting to go by to double check things. Also, our books were audited with the school's when the district would do their audit.
Our charter school is less than ten years old and our account was just recently changed. When our founders set this up, it was discussed and made very clear what was expected from all parties involved.
One big lesson learned, every penny is accounted for. A charter school is not private but notlike a district public school and there is much more parental involvment. Esp. when it comes to money. THere needs to be understood there is an accountablitiy issue here that needs to be discussed. THE PTO AND THE PRINCIPAL are accountable to the members etc. regarding the sending of this money. I can't stress that enough.
It's going to be a give and take but I can't stress the accontablity issue enough.
bww -- Our money is a part of the activity account at our public school. There is one large account with individual accounts inside it (at least that is how I understand it). It works something like this: (not real acct #'s)
Activity Account number 005432 876
PTO Account number 005432 875
Sixth Grade 005432 874
and so on
Now the problem with this is our principal has ultimate control over how the money is spent. I have come up with some paperwork to try and keep the PTO informed on all money spent, but we have had our money spent in the past to buy things we were not even asked for. If you can keep a totaly seperate account that is what I would suggest, because you will ultimately be funding anything the school wants to do with the money and loose your input.
First, recognize that in these economic times the school may have no choice but to resort to fundraising to cover the cost of some necessities. That being the case, it's very important that everyone be clear on who "owns" what fundraiser and what its purpose is.
We have a limited number of fundraisers at our school (PTO or school-owned) and there's very little difference in the logistics other than defining up front who "owns" it and where the money is ultimately deposited. The PTO still provides the volunteers for running the event and counting the money, even if it's a school fundraiser.
Other than that, I'd suggest a written understanding of how the funds will be handled, who has access to them, who makes the decisions, what kind of turn around time is expected on payments, how often reports are furnished, etc.
If I had a good working relationship with my administration and if we had a definite agreement about these things (in writing), I'd be in favor of turning the treasurer function over the school. You wouldn't have to worry about many of the "business" aspects of running a PTO and could focus on programs. But it would only work if everyone agrees up front and if you have confidence both sides will stick to the bargain.
I'm Pres for a small, independent school. Our board is trying to get us to merge our funds with the school for non profit status. How do I protect the use of these funds to only those expenditures the PTO approves? We have had disagreements with the board in the past regarding "keep the lights on" fundraising. Our view is that we are there to provide school improvements, etc. thanks for any help!
