Question: Board Approval For Each Check Written?
Do we need to take Accounts Payable to our monthly meetings to be voted on? We do operate under an approved budget. Shouldn't expenses within the budget be "pre-approved?"
Asked by Susanne Esquivel
Advice from PTO TodayCraig writes:
You definitely don't want to have every expense approved at a general meeting--that would make it very difficult to get things done, and it could make your meetings quite long. An approved budget plus a treasurer's report at each meeting is enough.
Community Advicemartin.email@example.com writes:
We approve an annual budget with a line item for each project that the PTO supports. Monthly we approve expenses realted to a project, rather than approving each check. As an example; while raising funds for a playground we approved expenses no greater than X dollars for 3 of the fundraisers. While these projects may not use all of the money in the month they were approved, the treasurer can write a check based on a check request that identifies which of the approved fundraisers it supports. The treasurer ensures they do not go over budget. If they need additional funds, it goes back to the board for approval.
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