I just opened a new bank account for our PTO, this one specifically for scrip, because they want to use electronic funds transfer / automatic payment, and I don't want them to be able to drain the whole PTO bank account.
If the money is designated to certain items, as long as it is tracked correctly, having it in one account is fine. Although to track the money separate accounts will help to prevent confusion.
Just make sure that the money is accounted for based on the different items. (As an example... don't consider that you have $5,000 so you can use it all for fundraising when only $3,000 of it is earmarked for that, etc.)
I am the new PTG President of my school and heres my dilima. The past PTG leaders have seperated the two accounts for the PTG because it was easier for them. I want to merge the two accounts because to me they are one in the same, but they arent really. one account is used strictly for fundraising and the other is for the overall PTG monies and at times used for school items. so is it wise to merge the accounts or just leave it as is? please help
