Our school engaged in a multi-year fundraiser for a new sign. When it came time to buy the sign, we discovered that whomever had set the original budget had no idea what a sign really costs. As a result, we had a lot of money in the bank.
We solicited suggestions from parents and teachers for ways to spend the money. That money ended up going even further than we expected, as several excellent suggestions from the teachers were items the principal was able to get the district to provide.
One great purchase was a theatre style popcorn machine. Suddenly, our carnival profit went up by the machine rental we didn't have to pay. Plus, teachers used popcorn parties as classroom incentives. (And sure, they could have a popcorn party with microwave popcorn but we both know it just isn't the same!)
So, based on our experience, I would suggest a two pronged attack on that pile of money. First, while the track has no current needs, are there any long term maintenance needs for which a portion of that money should be held in reserve? After that, solicit the best ideas people have and spend it.
First, I have some questions for you. Was there a certain amount of money that was raised specifically for the track? Or did you have to dip into your regular PTO budget? Was the PTO the only entity raising the money? How much extra money was earned? Is the track open to the public? Would there be any expenses involved if it were open to the public?
If the money was raised soley by the PTO, my initial reaction is that it belongs to you to spend as the membership chooses. Perhaps you could form a committee to research ways to spend it, then make recommendations which would be put to a vote from the membership.
Our PTO worked hard for 3 years to raise funds to build a track at our school. Funds were solicited from the parents as well as the community at large. After building the track, we still have a substancial amount of money left. Our membership cannot agree on how to use these remaining monies. Can we add the money to our general fund or do we owe it to the community to only spend it on the track (which has no current needs)? Some believe that we could buy equipment for the track team but others say that the money was meant for the school as a whole. What would be appropriate?
