We have 1 treasure and 2 faculty reps that can sign on the checks. So if we need something and hte treasure is not around and we have made sure the other members are okay with the purchases then the 2 reps can sign the checks. This way we can get a handle on the check book. I know there is another situation on the forum where the treasure wasn't at the meeting and now she doesn't want to sign off on something that was voted on. We don't have this problem! It's worked this past year, but this was the first year I have been in it!!!
Thanks so much for all your replys. We contacted the principal and thankfully she is very helpful. We are meeting with the treasurer tonight, (with bank statements). The Principal suggested we run an audit so that is our plan,as well as having two, possibly three signors.
I am a co-president also and we require 2 signatures on every check. Are you private or public? We're private 'catholic' school and it is written through the Diocese that you need two signatures. If you're audited, you will be written up for not having two signatures. I'll bet if you dig into your policies ... either private or public ... you'll see you need two signatures. We cannot sign off, only the Treasurer and the priest. Just tell her that you've looked into this and it is a requirement and it's been done wrong all this time. Take it from someone that has dealt with theft, if they're not willing to turn in the information ... something is wrong. If it continues, go to the bank and ask for copies of the bank statement. You'll have to pay for them, but it may save you thousands in the long run.
We have both Co Presidents and the treasurer as authorized check signers. There must be two signatures on each check cut.
We had our statements mailed to me (now former Co President) every month. Plus with a detailed treasurer report both printed to hand out every month and a reading of it at the meeting has kept us in a pretty good shape!
Like the others, we require 2 signers on every check, and our Prez, VP, and Trez are authorized. I could go on and on about financial controls (I usually do!), but let me share just one more suggestion I recently learned...
Have the bank statements mailed to the PRESIDENT each month. The president is then required to take a quick look, initial the top page and then pass it along to the treasurer for reconciliation. This is a great way for someone else to keep an eye on the banking transactions.
Like the others, we require 2 signers on every check, and our Prez, VP, and Trez are authorized. I could go on and on about financial controls (I usually do!), but let me share just one more suggestion I recently learned...
Have the bank statements mailed to the PRESIDENT each month. The president is then required to take a quick look, initial the top page and then pass it along to the treasurer for reconciliation. This is a great way for someone else to keep an eye on the banking transactions.
