Our's is though our local State Farm office. It is a quite lenthly process to obtain and not everyone is bondable. For instance one person that was voted in as treasurer had to resign because in the past she had declared bankrupty and could not be bonded. They do ask alot of question's on the form before they will bond you. Check around with your local insurance companies and see what they have to offer.
We have bonding through a local insurance company. It is certainly a safeguard but it only covers your losses if it is taken by one of those bonded on the policy. Ours include pres, vice (ways and means), treasurer, membership, and a few others The policy is renewed yearly and does not name names just positions. It is very difficult to obtain criminal insurance (theft). We have been trying for months but insurance agencies site the fact we cannot secure our money well enough. Even the school safe ate some money! Liability of course is a thought too. Also had through a local insurance co.
How do you go about getting your Treasurer bonded? Who do you contact?
I imagine that the organization would want to see how your PTO books are being handled if they are going to insure you from losses. Was the process very involved to get coverage? Please provide more details. Thanks.
You can think that you know a person well enough to think that that person who is your treasurer would never ever take money from the children. Well think again....$16000 later and the hard way we now have our treasurer bonded. It's a safe guard that allows us to re-coup any stolen money that the treasurer has taken. The cost is cheap (90.00 a year here) and is with it's weight in gold. I would not have it any other way
Our PFO's books are audited every year. We contacted our local Office of the Aging or AARP and asked for a retired accountant to audit our books. Our gentleman has audited our books for free for several years. One of our first motions in September is to purchase a gift certificate as a "Thank You". You might want to call your local office for retired persons and see if they can help.
Our particular treasurer's are not bonded and having an audit every summer helps catch any potential problems. Hope this helps.
I am an incoming Treasurer and the PTO books have never been audited. How do you go about that and who does it?? Does anyone have a form to share on what is looked at and what the procedures are??? Also, are Treasurers bonded for a PTO? I would really like to go into this on the right foot. Please help!