Safeguarding Your Funds

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Too many groups lose too much of their hard-earned money to embezzlement. And unfortunately, groups can be particularly vulnerable during the holidays when there are often more cash events for your PTO or PTA (holiday bazaar, holiday shop, auction, tricky tray). I wish it weren’t the case, but more cash events can sometimes mean more cash lost.

by Tim Sullivan

11/01/2021

But it doesn’t have to be that way. Rose Cafasso, our community manager, offered some great tips and information about protecting your cash during the holidays that you should review and share. My key takeaways:

1. Cash should be handled in only one place. If you have stations or activities, make sure those are handled with tickets and that the tickets are only sold at one place. That way you can manage your cash controls more effectively. For example, it’s best to have two people count cash so one can verify the results for the other.

2. Get insured. Losses happen, but you can be protected. Make sure you talk about this with your leadership.

We all work too hard and the dollars are just too valuable to take these controls lightly. And the least thing any hardworking group needs during the holidays is to be faced with this situation.