Typically, if the PTO is sponsoring and running the event (in this case, your field day) then the money would go to the PTO account. To avoid creating conflict with the principal, however, you should get input from the principal as to how the money might eventually be spent. Your point about start-up money is really key and definitely raise that issue to the principal -- it is in everyone's best interest that your group doesn't need to fundraise immediately at the start of the school year. (It can be a turn off to parents). On the gift cards, that's OK to do, but just make sure you have a clean accounting of that. Make sure people submit receipts from their purchases with the gift cards. Finally, I hope your school has a great field day! It's one of the funnest events of the year and once you get past this stuff, you'll have a blast!
- Rose H
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