There's been alot of talk about budgets here. I am the treasurer for an elementary parochial school PTO, new to the position this year. Our PTO has never really had a budget but our fundraisers have done very well and we are currently carrying a balance of $40-$50 thousand. I came to the position with 10 years of business budget experience and created a budget for this year but I may not be the treasurer next year. When do you usually create and approve a budget for the year -- i.e. would we create and approve the budget this year that will be used next year or would the new officers create the budget at the beginning of their term/school year? Our school has grown very fast over the last several years and myself and the other officers are trying to put new procedures in place that will stick.
I could figure out a way to spend that extra money. Our primary goal is to provide enrichment to the school. Our group does this by, providing programs, like authors, performers, etc. for asssemblies for the students in our K-8 school. PAC also, gives each teacher a set amount of money each year to cover any additional expense their class may have, i.e. glue, markers, etc. The teachers spend up to the amount allocated and submit the receipts for reimbursement. We also help donate money to each classroom for field trips; buses are very expensive, and we donate towards the eight grade trip to Washington, D.C..
We send the 7th graders to a Shakespeare play. We provide lunch for conferences, as well as put on a really big Staff Appreciation Week in May. We also help with outside education groups like Destination Imagination and Global Education. There is always something that the teachers can use in the classroom. The Principal has a special emergency fund, incase a student is in a bind and has trouble coming up with the money for a field trip. It is very confidential. The way you can help your school with the extra money is endless. Our goal has been that if we have extra money we try to increase the classroom fund for each teacher, and add more money to field trips to bring down the cost per parent. After all it is the parents that raise the money. We try to budget all the money except a couple of thousand, just in the case of emergency. If your school is like ours, extra money is a blessing.
If we had this "problem" I would like to see it go to our FRC. Right now the Angel Tree Project is underway. This helps our needy children get presents, plus the clothes closet is very low. The closet is used for children who have "accidents" at school and also people in need can use the clothes. Most are donated, but the last few years the PTO has given $100.00 for underwear.
You could have some kind of family night or event and just don't take up money for it.
Originally posted by songbird: I am not sure about your PTA but most are non-profit. You have to be careful carrying over any money becaus it now shows you had a profit. We spent all money the year we had excess. We had teachers make special requests.
Hi songbird -
Your group's assessment of this is pretty common, but it's just not true. The IRS has no problem with a carryover.
Being a not-for-profit doesn't mean you can not take in more than you spend. Instead, it defines what you can do with any excess funds you do have, namely they can't go to benefit an individual.
It's a really important distinction because it's very difficult to start every year with $0 in your bank account. You do not need to. It's black-and-white.
I am not sure about your PTA but most are non-profit. You have to be careful carrying over any money becaus it now shows you had a profit. We spent all money the year we had excess. We had teachers make special requests.
