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Lending Money to OM

22 years 3 months ago #96064 by copres
Lending Money to OM was created by copres
I am the co-pres of a PTO and I am having a problem which I hope someone can answer. In our elementary school our OM team is going to the Worlds. They need about $4,000 to go in May. They have come to us to ask to borrow the money. They will have fund raisers to try and get the money back. We don't have alot of money but we could probably do it. There are only 6 children involved in this. My problem is that I'm not comfortable lending money. I don't know if it's just our board but we're having a real problem with this. Has anyone else ever lent money to a small group of children. The parents will sign a paper saying they will pay any money they owe at the end of the year. We will take a vote at our next meeting but should PTOs get involved with lending money? This could cause a future problem. They want to use our bank account but I don't think our treasurer should get involved in this. PLEASE give me any advice. Maybe I'm getting upset over nothing. I just don't know. Thanks!
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