Hi Gary -
Breaking any laws? No. What you are describing is exactly within the spirit of the IRS regs. You may want to check your PTA bylaws, as some PTA bylaws have more specific restrictions than the IRS regs.
But even if the PTA bylaws are different, there are still plenty of perfectly legal and permissible ways to make sure you don't lose any funds and that your school and your kids (and the parents who raised that original money) benefit from those funds.
Tim
- Rockne
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