Thanks for all the advice. We do actually have 3 signatories but I wasn't sure if one HAD to be the treasurer by law. We have a wonderful treasurer but she doesn't want the responsibility of signing.
I am always amazed when I hear that a PTA or a PTO unit only has one signator on the bank account. In my opinion it should always need two!! We have three people authorized to sign checks, Treasurer, President and VP. We do this for the simple reasons that one person may not always be available and you do not want the President or one of the other two signing a check to themselves if they are getting reimbursed for something.
We have 3 authorized signers, and every check requires 2 signatures. Our signers are: Prez, VP, and Trez. The statement is mailed to our 2nd VP (no signing authority), as required by our bonding insurance.
We only need one signature - either Pres or VP. As Treasurer, I am the keeper of the checkbook. I write all of the checks, record and keep all financial transactions, just no authority to sign the checks.
The Statement is mailed to the school, but I'm usually the one who picks it up out of the school mailbox. The signers & I all have the ability to look at our account balance online. So they can see what checks are presented to the bank.
So to answer the question, NO, they do not have to be.
You know--that didn't come across as intented...I meant the treasurer should be the "only" signer...I guess I mispoke but I thought that was how most of the PTOs did it. ...Didn't mean to lead you astray....d
For every group I've been involved in the treasurer was an authorized signer. But in all groups every check required two signatures. The 2nd signer was the president in non-school groups and the principal/director in school groups.
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