Definately a conflict of interest IF she wins the school board spot. Give her a chance to see if she can be objective while campaigning. As for upcoming events. I've not made any plans either and we have been in school for a week. The main reason is I am stepping down, our first meeting is tonight and we are going to have elections. Give her the benefit of the doubt and in a few weeks if things aren't going well politely address the issue with her.
I'm a big fan of open, honest communication, so if I were you, I would diplomatically approach her about how her campaign is going to affect PTO. I think I would ask if she is going to need more help this year, and be ready to offer it if she says yes. I don't know that she needs to step down at this point, but PTO does need to know if she's going to be able to put the time in.
Our newly elected PTO President is running for a spot on our local school board. I see this as a big problem for our PTO since she is not that motivated to do any thing. School started today and we have yet to discuss any thing about the upcoming year. My concern is she will be on a campaign for votes and issues that concern PTO, especially any thing that takes up her time, will fall by the wayside. Should I ask what her plans are? Should she graciously step down as President?