Yes, and good for them for keeping the PTO going. In that case the first order of business should probably be to work on building involvement. Don't be afraid to scale back PTO activities -- without a full board to support you, you're more likely to get burned out if you try to do too much. The most important thing to keep in order is the books. Maybe the school bookkeeper can help out. Also, you may want to recruit volunteers to take the meeting minutes.