Our central district PTO gets out to support the budget and contacted elections enforcement on what was allowed to be spent and done so we would be covered for what is legal!
The IRS rule is that a 501(c)(3) may not attempt to influence legislation as a SUBSTANTIAL part of its activities and it may not participate at all in campaign activity for or against political candidates.
So "yes", you could support this budget issue, but Hwway is right, you need to give some serious thought to the policy side of things.
No matter how clear cut the issue, do you really believe 100% (or a large majority) of your membership would take the position the Board wants to support? Would it drive a wedge in your membership? Even though it's okay for you to get involved in these activities once in awhile(supporting issues, not candidates), you have decide if its a good idea for your group.
Did you get around the issue of the organization not being able to promote a position by forming a separate group of parents who promoted the budget as individuals? This is where we're leaning but feel that a school association board should be able to have a position.
We just went through this. For the past two years, the budget has been defeated. This year a group of parent (one from each school, we have 4 elementaries, 1 middle and 1 high school and they came up with a Project Vote plan and sent out flyers and posted signs.
Our bylaws state that we can not be involved as an organization but you could certainly get around that issue.
Hope that helps.
For me the question wouldn't be was it legal or not, but would it divide your school if you took a position on it. I think it is higly likely that you don't have 100% agreement within you own school enrollment on either sid of the issue.