Announcement

ARTICLE 8 – FINANCES

Section 1. Financial Prohibitions.

As a volunteer organization, the Mission View PTO shall not pay or provide any payment to the Officers of the Executive Board, Committee Chairpersons, Committee Members or any other member of the organization for their service to the organization.
There shall be no commingling of the Mission View PTO funds with the personal, professional, or business accounts of any individuals, groups or businesses. This shall include a prohibition against providing Mission View PTO funds as a loan to anyone for any purpose.

Section 2. Financial Institution. The authorized signatures of the account shall be the treasurer and a teacher member.

Section 3. Annual Budget.

The Fiscal Year shall run from July 1 of one calendar year through June 30 of the next.
The Treasure shall prepare and present a proposed budget that shall include:
Current Balance as of the date of the meeting.
Expected and reasonable expenditures through the remainder of the fiscal year.
The proposed budget must be in balance, meaning the Projected Balance is non-negative.
The PTO may discuss the proposed budget as needed. Changes to the proposed budget may be made as determined by the discussion.
The Co-Presidents shall not allow a vote on a proposed Budget that is not in balance.
Approval of the budget is by majority vote. The PTO must vote to approve a Budget at this meeting.

Section 4. Changing the Approved Budget.

The Treasure shall not reimburse an expense that exceeds the Approved Budget for that budget item.
A proposal to modify the Approved Budget may be made by any PTO member

Section 5. Reporting.

The Treasurer shall keep track of all actual deposits and expenditures.
At every Regular PTO Meeting, the Treasurer shall provide a written financial report that the Secretary keeps with the minutes of the meeting.
The Closing Balance from the previous Treasures Report.
All income received and deposited since the previous Treasures Report, organized by budget item.
All expenditures made since the previous Treasures Report, organized by budget item.
The current Closing Balance.

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