Unless it says something in your local bylaws, then your outgoing officers are wrong. There is no minimum set amount you must keep in your accout just as there is no maximum.
Example: let's say you were saving for a big, big playground project. It would be perfectly OK for you to have $75,000 in your account (and to carry that over from one year into the next).
If it states so in your by laws that you do...but if it doesn't then the set amount is up to you. We informally say that we need an amount equal to the September/October events we fund and the replenishment of the spirit wear so that those events and spirit wear are available. For us that is about 3K. Some folks don't leave any...but I'm not sure how they fund their events before their first fundraiser. Of course it is up to you and your board unless there is a prescribed amount already established. d
Several of us are wondering if there is a set amount that we are to keep in our treasury? We were told by the "outgoing" officers that we are not to have more than a set amount at any one time in our treasury. However, no one can tell us what this amount is, and I am unable to find an official verification of this. Any help would be appreciated.
