Question: PTO/ Funds
Hello, I am a new PTO president, and I would like to know does the money that's raised by the PTO ..should it be turned into the school administrator/secretary?
Asked by ms dee
Community Advicebchase writes:
It depends on how your bank accounts and agreement with the school are set up. We report to our foundation so our $$ are sent to our foundation that has a specific account for our specific chapter. We then transfer $$ to the school's bank account as requested/committed.
Advice from PTO TodayCraig writes:
Hi ms dee -- Most PTOs have their own bank account. When they raise money, it goes into their account. They spend the money as needed to help the school or to run their own events. Keeping the money gives you more control over how it's spent, and it allows you to finance activities that you think are important. If you turn the money over to the school, you then have no control over how it's spent. You also have no money for the small daily expenses that often arise. -- Craig
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