I took over the Co President/Treas. position 4 years and am trying to live up to the standards set by the previous one....Our money is district/principal contolled. All check requests must be signed by a board member and the principal. I wish it were just me and the principal, because I know how much $$ we have on any given day, and the secretary doesnt'. So far no probs with this, but it could become an issue in the future.Anyway..we sign a check request, send it to the administraiton building, and they send a check to whoever needs it (field trips, teacher reimbursement, etc.)We only require 1 person to count $$, but 2 is prefered. Bank deposits are given to the school secretary, and picked up by and armored truck on Tuesdays. We receive a statement of funds monthly from the admin. stating $$ in and out by account ( teachers, field trips, school store, fundraiser, etc.)which I them balance to my accounting of it. The downfall is that turnover time between requesting a check and recieving it is 10-14 days, so some prepay fundraisers are hard to do. By the time we count and deposit the $ then wait for the checks to clear and request a check it cuts it really close to delivery day. I tried making it cash/money order only to cut back on wait time, but our sales went down as a result.It's a tough balancing act being a treasurer, cutting budgets, etc., but i don't look forward to turning it over to someone else! It was hard enough to learn how to do everything, but trying to teach it will be even harder I think! :confused:

I think have Co-Treasurer is like having too many cooks in the kitchen. The ideas you have listed are very similar to our procedures even though I don't even think about doing those little details anymore because they just make sense and go with all of my paperwork now.

Thanks for everyone's suggestions. I will take them all to our meeting.

The board is already bonded. But I am the only one who thinks we need insurance. The rest of the group feels it is unneccessary. Well, I shouldn't say that there are a few that didn't peak up, so I really don't know their true feelings.

Our one treasurer who has been against all the proceedures has since calmed down, though she still is not in agreement w/ so much work. But she is willing to hear things out and that is good. I like the idea of having a head treasurer and an asst. We'll see how things go before I suggest it.

I received from someone here a bunch of different forms this summer for the treasurer - I think the color codes were suggested on them. The treasurer that wrote these proceedures loves them. Some people in the board still think it is too much.

It is very frustrating that so many are so laid back on the money issue. I wish everyone on our board would take it more seriously.

Thanks again!

Myschel, I read thru your trez's procedures and didn't think it was overkill (in concept, but to write all that down in such step by step detail is VERY thorough). I wrote a 20 approx page manual before I left office as Treasurer, so obviously I value standard operating procedures in this area.

We adhere to several important financial controls. This area--maybe above all others in the PTO-- require absolute clarity, openess, and faithfulness in duty.

To summarize our PTO's overall basic procedures: EVERY financial transaction (check, deposit, withdrawl for cash boxes, or miscellaneous charge from Scrip, for example) is substantiated by a color-coded paper form. The information for each type of form varies, but essentially includes a reason for the transaction, date, names, PTO account(s) affected, amount, and TWO authorizations. Additional substantiating info (ex: receipt for reimbursement request, deposit slip from bank for deposits) is stapled with the form which then serves as a tickler for the treasurer to update the computer accounting system. Finally, every form is filed for future reference. Last year, we processed 75-100 each reimbursement requests, deposits, and about 50 check requests.

After 4 years as a PTO treasurer, I wouldn't trade detailed controls for an easy job. In my opinion, if you have one treasurer who wants strict financial controls, make her head treasurer and let the other be her assistant. "Overkill" procedures only "bog down" one person. If she's ok with the load, take advantage of her fastidiousness. Your $ will be safer.

We are actually just coming out from having our PTO account held by the school within the Activities accounts. It was working fine until our balance this past year reached over $5000 and a little red flag went up. Too much money in the account and a new Business Manager stressed it was time we have our own. SO we too are now gong through a time of adjusting and writing/adding to our by-laws proceedures.
Of all "huddles" we are facing is (of all things) getting the school to let us prepair a final report/balance/audit of last year's books so we can deposit our money in our new account. We just need our Treasurer and Pres. to go to the school, sit down and figure everything out. It'll happen, it has to!

Hey Mike!! WELCOME!!

Hi msychel --

I agree with tradechi on the insurance and bonding. It's a key step in protecting your group.

We have a great insurance plan with our PTO Today Plus program.

Details here: www.ptotoday.com/insurance

Mike Schoen
(just started with PTO Today to help schools best utilize our services)