You should get a surety bond to cover ALL volunteers that handle cash. You can purchase it through PTOToday and it is not expensive. This will protect you (up to about $25,000) it a volunteer (or volunteers) "mishandle" money.
I have heard of such insurance (not a bond, though). On my to-do list for this year is to review the coverage we have in place (set up by a previous board, don't know how long ago) to see what, exactly, we're covered for.
There are some stories on this site about how the insurance paid out.
Has anyone ever heard of getting a bond or insurance coverage (crime policy) to cover the President and Treasurer in case money is stolen???
I am a new PTO President and we just got a renewal form for this coverage and I want to know is this something we need/want ?
I contacted the insurance company and the explanation they gave me was that the policy was to cover the pres and treasurer if money was stolen and if you prosecute you get the money back, if not you don't.
Hope I explained myself well enough! HELP!!
