Question: Principals want control of money?
Our principals want to have all funds raised next year go into their activity accounts. Our PTO is set us with our own EIN, but our bank account, while individual, still has the Superintindent as a signer on the account. Can they take this money from us? We feel this will hurt the PTO tremendously.
Asked by mtzelementarycc
Community Adviceldoornik writes:
I'm not sure what your district rules are, but our's clearly state that the principal can not be a voting member of the PTO because it is a conflict of interest. Money raised by the PTO is distributed by vote to the school. If we don't want to fund something, we don't have too. I'd look at your by laws and the district guidelines. It sounds like you may have a conflict if the Superintendent is a signer.
Community Advicecajunmsgirl writes:
The President, Vice President and treasurer have the right to decide who signs it can even be voted on. Our bi laws state that the principal and Vice Principal are not allowed to be signers n I certainly would not have the Superintendent on there. Most banks require upon reelections that you bring in the minutes of the election meeting notarized to either change signers on the account or establish a new one account. Sometimes it is better to just open a new one so that none of the old checks can be used. There always seems to be someone wanting to stick their hand in the pot. I would also require two signatures this will help prevent some money from walking.
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