Typically, the chairperson of an event is responsible for the deposit. However, it should be counted with 2 other persons present and all coming to the same total. It's then handed over directly to the treasurer for deposit into the account.
As an ex-president, if I chaired an event, I always made sure to have numerous eyes counting with me, the amount was recorded there and that same paper was brought to our PTO meeting so that we could verify the deposit amount when the treasurer's report was read. If I didn't chair an event, I didn't touch the deposit unless asked to be another set of eyes.

Your situation sent up red flags for me and I would be curious as to how many times she's needed a "loan" before!!

Ever read the stories in the news about employees embezzling thousands over a few years? Seems every story I've ever read includes a paragraph about how the employee "borrowed" and paid it right back then "borrowed" more and couldn't pay it back then "borrowed" and "borrowed" their way into jail and the company or non-profit into BIG debt. Sounds like your bylaws cover the situation. I suggest meeting with the Prez and E-Board so everyone's on the same page

2nd ed -- just like all funds should be verified by a 2nd person, also checks 2 signatures, to nip this in the bud as d posted

no no no....I mean I cannot even read that and find any way that it is okay....the process should be nipped in the bud....

At the very best, this was an absolute "should not do". Approved or not. Simply shouldn't have happened.

A good set of money-handling procedures and a reminder/emphasis to all on following them are needed.

Tim

The president shouldnt be handling money directly, the treasurer should always be involved. We have it so that any transactions have to be signed by both treasurer and prez. If she has lied to you about letting other people know I would look into things more with the rest of the board and her at the same time, so no one can tell any lies. If she is new I would make this a one time pass (maybe she didnt even realize what she was doing) and have the treasurer keep an eye on things.