Our by-laws state that we must carry over $1,500. This allows us to cover expenses until our big fund raiser in the fall. We carried over $8,000 from last year. This has been extremely nice and has allowed us to grant the funds needed for a laminator for the school. We were also able to approve the purchase of a digital camera for the PTA to be used for the year book. It is nice having a little financial breathing room to get items that have put off due to lack of funds. In the past four years we had taken on such huge projects (playground equipment and a covered play structure) that these less expensive items were always put on the back burner. :cool:
Our PTO carries over $5,000 if possible to cover all the necessary activites for the next year...assemblies, field trip money etc. that way regardless of how our only fundraiser for the year does we are covered.
It somewhat depends on your by-laws. If they state you have to spend it all then you probably have to. We have voted on an amount to carry over from year to year so we are OK until our first fund raiser. This amount can change from time to time. Also, you may have a large purchase to make that you will fund raise over a couple year period to get enough money to buy.
CV Heritage Co-Treasurer
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23 years 6 days ago#95661by CV Heritage Co-Treasurer
We are a new PTO at a new elementary school. A question was raised during our last meeting - Do all the funds raised during the school year have to be spent by the end of the year? If it matters, we have a tax id number - and are currently filing for tax exempt status from the IRS.
There is lots to do with a new organizations and new school - but we'd like to save some for the group to start out with next year as well. Any ideas?
