The Most Important Financial Protection Your PTO Can Get
The most frustrating thing is that 95 percent of the losses would be preventable by making some simple things a habit. If some master thief targets your group, you may be in trouble. But I've never seen a single case of that.
The reality is that embezzlement happens when opportunity (it's easy) meets need (paying the mortgage). And the simplest way to make embezzlement way less easy is to change one habit.
Put it in your bylaws or standing rules that someone other than the treasurer is to open and lightly review the bank statement each month. A quick look for checks written to cash or unusual cash withdrawals is often enough to deter those two most common theft steps. It takes about 5 minutes per month. Seriously -- if you're not doing this already, why not?
Yes, there are more smart financial controls, but this simple one should start today for every group
And finally, I'd certainly recommend a modest investment in PTO or PTA insurance to protect your group's money (and your volunteers) even further.
What would happen to your group (and how would the school year go for your teachers and kids) if you lost $10,000? I really, really hope you'll take some simple steps to protect those dollars. Feel free to forward this note to your fellow leaders (and your treasurer) if you need some back-up.
