There is no civil or criminal law prohibiting PTO's from having closed meetings.
In terms of standard parliamentary procedure, organizations may meet without admitting guests or even those belonging to the general membership (school parents), if they prefer. Additionally, the minutes taken at these meetings can be held confidential to just the board members.
Keep in mind that your PTO's processes will likely change dramatically over time. They will eventually be forced into being less exclusive when their small group of volunteers get burned out and/or when they start petitioning the general parent group for funds to support their mission. At that point, you and other excluded parents will have more power to enact changes in how the PTO operates.
My daughters' school recently started a PTO. The only reason I know about it is because they sent home a note stating the PTO would be selling goodies at the school social. When I approached the principal I was told they did not make it known to the parents because there are certain parents they do not want involved. When I talked to the "VP" of the PTO she told me they only used the volunteers that are there everyday. I feel that this is discrimination. They still haven't told the parents that they started a PTO and they don't make the meetings public. Is this legal?