Our ByLaws require 2 signatures on all checks, and one of them has to be a Treasurer. While our officers and volunteers are not because I could not get the other officers to understand the importance of such, I highly recommend that all persons that handle money for the PTO be BONDED. The cost is usually minimal and the benefits great...what happens if money disappears (we had almost $1000.00 missing from the bank account when we took over the books for our PTO in 2003/04...I found all but $144.00 and they were all bookkeepping errors (mostly unrecorded adjustments from not balancing the bank statements every month....that $144 I believe was carry-over from 2002/03 school year and probably bookkeepping adjustments as well....I like to think no one scams/steals, etc.). Anyway....Bonding is good insurance and peace-of-mind. Further, you may want to consider a policy that prevents anyone that is non-bondable from handling monies....they could still volunteer and even hold office, provided they never handle money. One major problem I had/have with our PTO is the lack of documentation they keep, or require volunteers and chairpersons to keep, on fundraising activities. No documentation, no way to know how much money the PTO shoudl have made...they just don't get it - maybe the IRS can explain it to them better? Oh, they aren't legal either (no tax id number, no 501(c)3 status even though they tell parents their donations are tax deductible charity)....needless-to-say, I am not an Officer next year - by choice. Good Luck!
Originally posted by vpmom: Thanks for all your input. I have stepped up and so has the 2nd VP. I'm not sure that we really need 2 VP's but that's what our bylaws say. We will now have an election to fill the 2nd VP, Secretary and Treasurer. I plan on working on the bylaws to add a few more guidelines where money is concerned just as a safeguard. Wish me luck!
You know if the money concern is still there for you with the new VP, it may not be a bad idea to have her there as a chair but all transactions need two signatures, all handling of monies need to be done with two or more people and a locked deposit bag. Well worth the investment!
I wouldn't put too much worry on the issue of money with the VP. Perhaps, with the issue that has already occured and the close call, if she was guilty then perhaps this "brush" was enough to scare her straight. Just keep an eye on the financials and use the buddy system with the check book etc.
ahving two yp's might not be a bad thing, we are doing this this year and yes i know we will have wrinkles I think we can make it work...never say no to someone who wants to hold office...ha ha ha
"When you stop learning you stop growing."
Thanks for all your input. I have stepped up and so has the 2nd VP. I'm not sure that we really need 2 VP's but that's what our bylaws say. We will now have an election to fill the 2nd VP, Secretary and Treasurer. I plan on working on the bylaws to add a few more guidelines where money is concerned just as a safeguard. Wish me luck!
