Thanks for the info. Our bylaws prior to this incident were about a page and a half. It didn't include information about many of the situations we are facing today and couldn't answer many of our questions. Some of the parents didn't know that the E-board had the power to do freeze funds especially since there was nothing written about it and a situation where money was unaccounted for had never occurred prior to this.

It's definitely not required everywhere. And -- even where insurance is required -- the bonding/theft coverage is typically not included in that requirement. If there's a required item, it's typically general liability insurance.

I'd be careful not to get too crazy with the new rules (having an executive board member present whenever money is handled could get very difficult for you, for example). Good checks-and-balances are great. Get those in place ASAP.

Tim

I'm under the impression (at least from the PTA's and PTO's ive been involved with) we always had to be insured (Districts wouldnt allow a non insured (liability insurance) group to do anything at school) -- as for any or each memmber being bonded that would either be a district, school or PTO bylaws policy

I've never been involved with a PTwhatever having $$$ handlers bonded (just checks and balances in place- 2 people counting money, treasurer and principal secured $$$ in school safe or deposited, etc)

As for prices and who/what's/covered - all I know is it varied according to policy bought

If you bylaws have a provision, why couldnt the Exec board freeze $$$ activites ?? (provision on whats best for org type deal)

After a fiasco of nearly $500.00 missing, our exec board put a freeze on all money until we could figure out what happened. An officer was not present everyday during the fundraiser in which the misplaced funds occurred .Some of the members were furious that the E-board did this without a vote. Needless to say, we are now redoing our bylaws to include a clause about the E-board being able to make executive decisions in regards to time sensitive material and matters where money is concerned. Also, an a member of the E-board must be present at any function where money is collected. We also have some other caveats attached now. We need to know if our treasurer and anybody else who deals with the money have to be bonded or insured? What's the difference between the two?How does it:confused: work? Does the policy cover an entire year? Are we required to pay per person or is the entire organization covered under the one policy? Does each event need to be paid for separately? What's the average price? What system do some of you have in place? This has caused a big todo in our usually happy organization. All information is greatly appreciated.