Q&A

Using current funds for future event

We have been asked to fund a special speaker for the next school year but have to decide now due to scheduling. Can we say yes to something for which the budget has not been set for, meaning, next years budget? Or can we split the expense between two budget years? Do I need to get full PTO members' approval? The board is in agreement.
- hollysue19@gmail.com

Hi Hollysue19,
So, a few things here. You may have a limit set (specified in your bylaws) for what your board can approve on its own. Chances are, a speaker cost would likely be more than that. So, you would probably need to get a vote on this. It would make sense to get find out what the cost will likely be and determine if you will have the funds in next year's budget for it. There's a little bit of estimating that'll have to go on here. Will you have the speaker early in the year? One thing to consider is to carry over funds from this year to cover the costs if the event will be early fall.

Rose
- Rose H
Links in this post:

To add to what Rose is saying, it's certainly OK to split a large expense between two budget years. In fact, it's a good idea.
- Craig
Links in this post: