While legally, the parent organization and the school are separate entities, they are certainly interconnected. Our PTO is a 501(c)(3) and separate. And minutes are often used.

But in a contentious situation or one where little documentation exists, the bank is likely to accept the Principal's letter verifying the new officers. It's not that the principal has the authority over the bank account, but more that he would have recognized standing to help authenticate the parties.

Since JHB mentioned it, the process that is used with any of our PTA units to add or remove signors is fairly simple. Most banks (not sure if any of our units use a credit union but I don't think so) will add a signor with a copy of the minutes from the meeting that showed the election and who the new officers will be, in addition to photo identification and a signature card to be filled out at the bank. A letter from the principal isn't necessary since our units are independent of the school, the principal wouldn't have the legal authority to add or remove anyone from our account. If your PTO is also a seperate entity, independent of the school, you would need to bring a document from your PTO, on your PTO letterhead but minutes seem to be the norm and widely accepted to add a signor. As a new President, after being added to the account, the bank also allowed me to have the old signors removed. (We had signors from 4 years ago still on the account when I took over)
Once you have been added to the account, you can request records. I'm with JHB on avoiding online banking. It is connected to your social security number and I doubt you'd want to share that info with any of your officers.

I've been Treasurer of my son's PTO for the last two years. We have 4 board members who can sign on the account. All checks regardless of the amount require 2 signatures. Although it can be difficult for me to track down another board member to cosign a check, it is definitely worth it! With certain controls and procedures in place, the chance of money going missing decreases.

We also require a monthly report that is distributed at the PTO meeting. In the event that we don't have a meeting, I distribute copies to all board members. This is required as per our bylaws but unless the President (and Treasurer) enforce the rules, the bylaws are useless.

As far as have online access to the PTO account, I would be fine with being able to view transactions but to have multiple people able to transfer money would NOT be a good idea. We decided that the convenience would not be worth the risk.

Out PTO has a single checking account and a money market account. All 4 officers can sign checks, but the treasurer is the only one that really does. We get detailed reports of everything spent (to who and what it is for) and do an audit each year. I'd be a little scared to have the online or only one person in charge of all our PTO's money with out the transparency.

For a bank, dealing with a organization like PTO or band boosters has to be tough sometimes, especially when the new officer transition isn't easy. Technically, they should only follow the instructions of those already authorized on the account, so what do they do when a person just shows up saying, "well, I'm the new treasurer - do what I say."

In the years when a smooth transition isn't happening, we've found a letter from the principal on school letterhead identifying the new officers is usually accepted by the bank in order to make changes. This gives the bank some assurance that they are transferring authority properly.

I'd take a letter like this (maybe specifying who should be on the account) down to the bank and make the account changes myself - including the address to which the statements are mailed and getting any back copies needed.

Also - these days with online banking, it's really easy to go in verify quite a bit without paying fees for old statements.

NOTE - this opens a new door, we haven't really explored. If you use online banking and set up a single password that shared (not a good idea), you will have NO audit trail if someone transfers money out of the account. Now that I think about it, online banking with a PTO account could be scary unless investigated throroughly.

Whew, I thought I was reliving my daughters brownie troop all over again after reading your original post about your treasurer? (whole other story LOL)

anyway, We started with a brand new PTO last year as all the "usual" PTO executive members left the school or moved out of town.

We "knew" what the PTO "usually" did every year, but isn't variety the spice of life? so we added more and deleted lots and put a spin on others LOL.

We've always had 2 signatures on the checks and anything over $350 needs approval from the entire PTO before it can be written.

The principal should have a copy of the bylaws. If he/she doesn't, form a committee and make them.

Don't let anyone tell you "that's not how it works" because YOU are the Pres, so you get to make decisions (with approval of your principal and other committee members). Tell you treasurer, this is how it's going to work this year!!!! She may just be a creature of habit but it actually sounds like she's hiding something.

Go to your bank and request that your signature be put on the account and get copies of the bank statements. In our bylaws, our VP has to go over all the treasurer's balancing of our account.

Best of luck and remind your committee members that "team work" works best. If you all work together, you'll have a successful year!