Question: PTO President on Bank Account
Can and should a PTO President be on the PTO Bank Account??? My train of thought is no, because then there are no checks and balances on spending.
Asked by cato075
Community Advicepleasantonkspto writes:
I would say no being a PTO president for 3 years I never had accsess to checking account . We did vote on every little penny spent and we always had petty cash fund $25 to $50 and there also should be two names on the account but I would say vote on it
Community AdviceAmcvay writes:
Being the PTO president I am not on the the bank account and cannot have access to it. Our treasure and principal are the only names on the account.
Community Adviceknurkie writes:
How is that any different than putting a Treasurer on it? Or a VP or a Fundraising Board Member. President is just a title. As long as you have good bylaws and more than one person on the board that is on the account I would think that would be adequate enough "checks and balances".
Community AdvicePTOmommy writes:
I have been PTO President for 2 years and I am on the account. However, the one who handles the money, the Treasurer, is not on the account. Which makes sense because the checkbook remains with her. She is not allowed to write/sign a check.
Community Advicelesleyharrison writes:
We have 3 people able to sign our checks, as each check needs 2 signatures - the treasurer (as she is the one who has to write the checks), the president (helps her keep tabs on what is being spent) and one other (in-case one of the other two are unable to sign a check).
Our president also looks over our bank statements before the treasurer takes them home (they get mailed to the school, as does all our bank's correspondence) as another check on our finances.
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