Ok, during our last meeting, one of the teachers asked us to help out with Weekly Readers for 1st, 2nd, and 3rd grades. We do have the money and it was decided the PTO would pay for the Weekly Readers upfront, then be reimbursed for the money they collect from the parents. The teacher who started the conversation during the meeting came up with a total amount for all grades as they stand today. The next day, the same teacher and our Principal had a conference call with the new VP and told her that they didn't have to pay for them until November so we could wait.
Our school is going through some huge changes, one being that it is being split with 40% of the students going to a newly built school. Our Principal doesn't have the final numbers as to how many teachers there will be for each grade or how many actual students will be attending since we have an "open enrollment" policy.
The VP and I went to the school today to reassure ourselves and make sure about this particular teachers' plans since they had changed since the last meeting. She told me she just wanted to make sure it was discussed during the meeting before school let out and that she was fine with collecting any money first, then the PTO could pick up the balance in November. She also let me know that she was only speaking for the 3rd grade teachers (not mentioned in the meeting) and didn't know if the 1st/2nd wanted them. So, we made our way around to the second grade teachers and all of them were excited to hear about having them. One second grade teacher told us she would "head" the ordering process during the summer for the 2nd graders. We weren't able to talk to the 1st grade teachers due to an assembly. I will get there tomorrow.
So, anyways, my thought on the matter is to wait until we have final numbers of teachers, students, and money collected, and pay when we need to. Everyones happy. However, the "old" treasurer and "old" President (both within the new schools boundaries) are being very addament about paying for the entire cost before they change over the books. They want to order books for our student numbers now (before the 40% leave), pay the entire amount, then later, adjust numbers and return unused books, collect money from parents, and give it back to the PTO.... regardless of what the teachers are saying. (as a side note: the vote during the meeting was to pay for the full amount..it was not on the agenda) They are keeping the entire amount for the WR's in the present account so they can write the check and handle it their way. I think this is going to create a lot more work for everyone in the future after they finally "step down". I am a little puzzled by all of this and just see it as another decision they really shouldn't be making. Any thoughts on how to handle this matter?? P.S. The Principal was not available to speak to today about it.
My only concern would be that you are not going to have access to the present account and would not be able to hold a Presidential/incoming Treasurer audit on the year.
If this is not something that you are worried about, then I say great, go with the route you propose. But also remember that your group is ultimately responsible for the existing account and you'll want to make sure that it is closed once everything is complete.
When we changed officers, we sometimes took a letter from the principal on school letterhead specifying the new officers/signers on the bank account.
The bank may get you on a technicality - may insist that one of the currently authorized signers make the changes. But I found they tend to work with non profits and school groups. They just want to be able to cover themselves and have some "proof".
True - the principal may not have authority over the PTO. But the school is a tangible party and official letter can carry enough weight. Frankly, anyone could type up minutes and show up saying - "Hi, I'm the new officer and I want access to these accounts".
Our bylaws state that on the date of new election, duties begin at the end of the meeting. Also states that upon expiration of the term, each officer will turn over to the President without delay, all records, books and other materials pertaining to the office. BTW: I tried the nice approach everyone has been talking about (I sent her an email) and she said the books are currently balanced but she won't hand over anything until she has completed the 2006-2007 year tasks. (School lets out tomorrow) ???? I do not have a copy of the minutes since the PTO has not posted them in the past. They have not been turned over either so a trip to the bank is not in our near future.
Thanks for the committee info!! We are already thinking up some great people for the "job" and it is something we are definitely going to implement!
I love this site! Everyone is so willing to help....with great suggestions too! I hope someday I can be as helpful as you all are!
Check your bylaws since it should clearly indicate when roles should transition. Whether checks clear or not, our Treasurer closes the books in July, the audit is done by Aug 1 and the role transitioned over to the new Treasurer.
I can see her finishing the school year out since there may be more to do, however, if your bylaws don't have an end date for the role, there is no reason why she feels she must wait for every check to clear. She should balance the books with the next bank statement and then turn everything over. However, don't take the books until the bank statement comes in & the books are balanced.
There are quite a few posts about Exec Board members that won't give up their positions or transition information & the such over to the new members. PTO's may want to make sure it is clearly defined in the bylaws so there is no future issues. If you are dedicated to making your PTO & school a better place, then create sound bylaws that will benefit your school long after you are gone.
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If you do a search in this Forum on "audit", you'll find a wealth of information. No - you don't need to hire anyone. Typically, you create a parent committee of about 3 people who had nothing to do with financial transactions during the year.
The treasurer hands over the checkbook, all bank statements, and all supporting documentation for the year. The audit committee reviews things like:
does check register match bank statements and is it balanced properly
were checks processed properly. For instance is there a Disbursement form/check request form for each transaction; did each check have two signatures
Were payments authorized (compare to minutes and match approval votes)
what was the timing of deposits. When you collected money, were the deposits made within your organizations time window?
did all cash receipt forms have two signers, verifying you had at least two people counting money
It may be a little simpler or more complex depending on what policies your organization has in place. At a minimum they should make sure the books balance. Ideally, they verify policies were followed and make recommendations for the organization (not just the treasurer) for the following year.
