The new Board should be able to go to the bank and get the bank signatures changed so the old Board no longer has access to the money or the ability to shut the account, depending on when the elections took effect and how the bank account was set up.
But there is so much unknown here... It seems a little strange that anyone would think it is ok to spend down to zero if that wasn't part of the budget plan. If you're just getting bylaws, could they be thinking that they are kind of closing out an old organization and making a clean slate for the new structure? Is what they are spending money on not something that would benefit the school? Why don't they know that the district is still owed money? Is there some sort of conflict going on between the old Board and the new?
- mum24kids
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Happened here as well. Although the bank would not do anything UNTIL the old board signed over the books so we were stuck. We finally had to consult with the main administarion since the school alone doesn't have anything to do with PTO. It is also now in our bylaws a MINIMUM of $500 MUST be kept in the account for the new school year.
- jlpsencik
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