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use of prior raised funds

21 years 1 month ago #98480 by lkd
use of prior raised funds was created by lkd
Between the years of 1997-2001 our PTO raised money to build a track. It turned out that it was not researched well enough and the $14,000 raised was not even close to what they needed. The project was put on indefininate hold and the money has been sitting in the bank all of this time because there were many arguments over what should happen with the money. Most of the people that contributed are no longer at our school(their kids have graduated). Also there are no records to indicate exactly who contributed. I am the current PTO president and the PTO is in agreement that we would like to use this money for something else related to physical fitness. Can we move forward and spend this money on something other than what is was raised for? We have thought of putting a Public Notice in our local paper explaining how we would like to use the money and invite people who orginally contributed to a PTO meeting. Is this necessary and would this be enough. We are worried about any legal issues.
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