Question: pto budget is not completed
our budget is completely sipported from the selling of scrip. We generally make more then we need so we give the rest back to the general school budget. we are a private school and there fore it helps tuition and general school expenses. this year our board ( i have been on in the past for 5 years but i am just a member now) has decided to try to keep the money and not ive it back to the school. but the big thing is the has not finalized their budget yet at it is dec. and they are spending money. we generally finalize the budget by july sep the latest. is it ok for them to spend money without a pto budget approved by the principal yet? please help thxs
Asked by Anonymous
Advice from PTO TodayCraig writes:
You're right that creating a budget at the beginning of the year is a best practice for PTOs and really, for any organization. Creating a budget doesn't mean you have to spend your money exactly as you have outlined; it just acts as a guide to let you know where you stand as far as income and expenses at any time during the year. If you hoped to raise $15,000 and in fact only raise $10,000, for instance, knowing roughly how much you need for each activity you've planned during the year will help you make decisions on what to cut or whether to hold another fundraiser. That said, some groups do operate without a budget. Is that OK at your school? Unless your group's bylaws require a budget, the answer is probably yes. It's not a best practice, but on the other hand you wouldn't want the group's activities to come to a complete halt because there's no budget.
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