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PTO Debit Card Policy-Anyone?

13 years 1 month ago #130398 by OntheGoPTO
Our PTO has decided to get a debit card to w/d funds from the checking account. This will be used to purchase things we need online. It will also be used by officers authorized to spend money for the PTO, i.e., afterschool program supplies, event supplies, etc. The membership voted to get the card provided that a policy is developed for its use PRIOR to the card being activated. Wondering if anyone out there has a policy or ideas for creating one. Thanks!
13 years 1 month ago #130406 by Serendipity
We have had a debit card for 3 years now. We have not had a single problem and it is one of the best things we have ever done as it makes our ability to purchase things so much easier.

The way we do it is that the President holds the card. Because the card is attached to the account the treasurer can see all debit card expenses each month which is your system of checks and balances. All receipts from debit card purchases also need to be turned over to the treasurer as well.

As for chairpeople...let's say for example a chairperson wants to order stuff from Oriental Trading. They give what they want to order to the president and the president places the order and pays for it with the card.

We have also even let chairpeople just take the card if they need to purchase items at a store. We need to know ahead of time what they are buying. They make the purchase and then come right back and turn over the card and the receipt.

The fact that all purchases will show up on your monthly bank statment really makes it hard for anyone to misuse the card. Every purchase made needs to be accounted for. The treasurer is also informed before hand when anyone is using the card.
13 years 1 month ago #130409 by LUVMYKIDS
We have had our debit card for two years and it is very helpful. We follow pretty much the same policy as Serendipity's group. The President holds the card and makes all purchases. All receipts must be turned in with a Debit Card Purchase form that is filled out with the amount and what program is to be charged for the expense. We require that the purchases be for budgeted items. The treasurer sees all purchases on the bank statement and can reconcile them with the receipts.

Hey Rocky, watch me pull a rabbit out of my hat.
13 years 1 month ago #130426 by Bertha
Since our group had issues in the past, I'd be very leery of getting a debit card. I'm afraid if the wrong person got hold of the card or number, by the time we'd find out they would be half way to Jamacia!
13 years 1 month ago #130432 by my3strongtikes
We use ours the same as Serendipity and Lovemykids. The president holds it and must turn in all receipts for our purchases.

Cindy<br />
<br><br />
<br>____________________________________________<br />
<br>&quot;People have the right to be stupid, but some abuse the privelege.&quot;
13 years 1 month ago #130450 by FLPTAMOM
We also have a debit card. First time this year. It has been wonderful. It saves sooo much time. We do not have to worry about coordinating schedules to meet up w/ Treasurer.
Our treasurer has it set up to monitor the account online so he can immediately be aware if anything illegal is occuring.
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