With $25k your PTC should get a EIN #. Do not use your own SS#, it then becomes your tax problem. In our state we were also wrned aginst using the school districts #.
Make sure you are in a money market gaining intrest on that large of a balance, your PTC should keep the interest. Ad min fees.
After much pressure from our PTO board we basically had to drag our principal to our new bank to set up our new account and while we were there we also set up another account seperate from the PTO's in which he could put money from his library fundraisers. He is responsible for the account and the PTO no longer has to deal with any funds that don't belong to them (I chose to have my name on his account in case something were to happen the bank suggested two names or the funds would go to probate). It took us a year of complaining but it has all worked out well...so maybe if you flat out tell them we cannot handle your funds...but we will help you set up your own account they will have to do the extra work themselves:)
Not sure what grade levels you have but I would think that sports money and cheerleading would go with the sports booster clubs and not the PTO. As far as field trips, we fund all of ours and if a class goes over budget and collects funds to replace the funds, these are now PTO funds and are not linked to the class. At the end of the year, any money not spent goes back into the general fund and gets split for the next budget unless a long term line item project was voted on.
Our PTC has been handling discretionary funds for the school for a couple of years now. These funds include money collected for field trips, sports, cheerleaders, etc. At this time we have about $25,000 in school funds. We make the deposits and write checks for these funds. The district office will not handle and the principal says the office staff does not have time.
This puts a huge burden on our treasurer, as well as a liability issue on the board. We are looking for alternate methods of handling this money. Some other schools have separate checking accounts for each class and/or grade level. Who's SSN # does this go under? The teachers wont want to deal with this so it would fall to a room mom, I guess.
