Our by-laws state that the pres and tres are the two official signatories. There is a part that states that the general membership has to approve any other officers to sign checks.
Deb- our Principal is a board member. We have a great principal that would never take money from us. We are lucky. We can't write a check to ourself. So we have to have more than two people with authority to sign checks.
Our bank requires each person authorized to sign checks to fill out this form and sign it at the bank.
You just have to instill trust in the board members. I think that we are all here for the right reasons and MOSt people aren't going to rob you blind. Hence the two signature policy. [img]smile.gif[/img]
Convenience is why we authorize 3 officers, but only need 2 to sign a check. No offense to our principal, with whom we have a great relationship, but I would never put him on our signature card since we are our own 501c3. He loves having our money as it is - I'm afraid we'd create a monster if we gave him signing authority! [img]smile.gif[/img]
Originally posted by Debbie Tryzbiak: I know this doesn't answer Volunteer's question, but why do some of you include your school sec. or principal as check signers? Are they board members? Is it because you have to have their approval on the purchases? Our account is separate from the school - as they would like it - so why would you include a school rep. to be able to sign off on the PTO account?
Just curious.
:confused:
Deb
Biggest reason I hear, Deb, is convenience. If you have a two-signer policy, then it can be frustrating (depending on schedules) to get the two signers both at school if you really need a check cut quickly. So having one of the signers be a staffer makes it much easier to get two signers in same room. You still get the best practice of two-signers-required, but without the inconvenience of having to get two moms' or dads' schedules synched up all the time.
I know this doesn't answer Volunteer's question, but why do some of you include your school sec. or principal as check signers? Are they board members? Is it because you have to have their approval on the purchases? Our account is separate from the school - as they would like it - so why would you include a school rep. to be able to sign off on the PTO account?
Usually its the Pres., VP, and treas. For us, we added the principal and school sec. because sometimes its easier for the treas. There are always 2 signatures on checks and banks will return it if there isn't. But check your by-lwas since they should define who signs the checks. Some orgs have 3 sig. on checks. Good luck!
our parent org board members have NO fiduciary responsibility, only the voted in officers, hence my comments
no two PTOAs are alike, it seems ,from the info these BBs offer.
i guess some queries cant be answered in full
but by their own group, according to their own rules, bylaws and definition of board members and respective responsibilitys/duties
