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Who has control of your PTO $?

1 year 8 months ago #172327 by aggirl
Our principal announced today in our board meeting that they (principal, asst. Principal, bookkeeper) have been meeting & have talked to other schools & they want to take control of the PTO funds. They want to be able to make all of the decisions about how the money is distributed. In other words, they need a slush fund. They want to spend $ on things without asking us. How do other schools handle their monies? Does the PTO maintain a treasurer and they write the checks? Does the school have control? At this point I feel like we have just become their fundraising committee & have no control over what we do. Ideas?
1 year 7 months ago #172366 by kitkat_137
Our PTO has a treasurer who manages all funds to the organization. If teacher's want something, they can request it from the PTO, who then votes on it (we typically say YES if it is something we can afford/in our budget). We give our president a "discretionary fund" on our annual budget that can be used at his discretion, but PTO money is managed by the executive board.

PTO funds are typically subject to very specific rules. Legally, they have to be accounted for and audited appropriately for a non-profit organization or you can loose your tax-exemption status.
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