I don't think you can stop her unless you have procedures in your bylaws to remove a member and she meets those requirements. You can however, couple her with an "assistant" that you trust to ensure the money is well monitored. That is probably the first thing I would do.
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We have a parent who worked for our school in a non-teaching position. She left her position last year. It was by no means on good terms. The parent sabotaged some things at our school before they left. It was very malicious to say the least!! I am not sure if the school is pursuing any charges. They cannot comment due to confidentiality.
This same parent during one of our biggest fundraisers this time last year, caused many problems for the coordinators of the fundraiser. We tried to rectify the situation by a sit down with our principal. That got very heated and was not resolved. The Principal offered mediation. The committee agreed, the parent declined. So, nothing was resolved! The PTO was glad and relieved to see this parent leave. You would think after all that was done this parent would not show up to a PTO meeting!! Well, our first PTO meeting, there the parent was. The parent has been at every meeting and now has pushed their way in to a cookie walk we do during this fundraiser that he/she caused so many problems.
A lot of detail I know, but we wanted to give the facts before we asked the question. Do we have to let her be apart of this fundraiser. Our Principal has said we can’t do anything because they are a parent. Our board is very concerned about this parent. Especially our Treasurer, because the parent will be in charge of money. We only ask for donations for the baked goods, so there is no way to track the money. Not to mention the fact the coordinators of the big fundraiser are very apprehensive of having this parent on the premises all day!