What you are saying makes sense. The money in that fund was raised to pay for PTO projects or programs for the school, so that money can be put toward those expenses.
Our PTO is running a fundraiser that involves selling raffle tickets to win various baskets of goods or services. We are a 501(c) organization and have obtained the required licenses, etc...
My understanding is that we need to have a designated account to deposit the raffle proceeds to. We have that set up. My question is what types of costs can we pay out of that designated account. Is it just costs of the fundraiser event (i.e. cost of the basket items). Can we use the remaining amount to put towards a PTO approved project or expense. The raffle is a fundraiser so I assume the net revenues can be used to fund other expenses.
