OneandOnly;135341 wrote: A few checks done when there are time constraints or schedule conflicts and the President or co-signer checking back to see where the money went would not be the beginning of the end to the PTO.
Unless your bank doesn't enforce the 2 signature rule and the checks get lost or stolen.
Sorry to be Mrs. Gloom and Doom, but just a thought.
Critter: I did preface that statement by saying that an accountant would not recommend that practice. But it clearly depends on the relationship between the two co-signers and the indivduals themselves.
This Treasurer does not appear to have a high standard of ethics if she is willing to let a non PTO member/attendee sign the checks. So it would not be a wise practice in this situation. However, it may be fine in some situations when you have two trustworthy individuals that are all for the PTO, school improvements, and everything being done with the kids being placed first. A few checks done when there are time constraints or schedule conflicts and the President or co-signer checking back to see where the money went would not be the beginning of the end to the PTO.
And sorry OneAndOnly, I absolutely disagree about anyone signing checks "ahead". No No NO. You might as well not have a 2-signer rule.
Every check, every check, every check no matter how small, should have 2 authorized signers and a complete transaction form substantiating it. Also, no one should sign a check made out to themselves. And finally, it's highly unlikely that your bank will enforce the 2 signature rule. It's up to you to enforce it. Don't get lax on that even though it can slow things down sometimes. And don't tell your membership, or even your Exec Board that the bank doesn't enforce it or they'll beg you to bend the rules. Two signatures of informed PTO leaders is a must.
Thanks everyone! You've validated my feelings exactly. In order to convince other members I'm going to invite a parent/CPA to speak on this issue at our next meeting. Hopefully they'll understand better if it comes from a professional! Thanks again!!
