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| Questions
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Q:
|
When
PTA raises funds at school, it is often easier to place the money in the
school safe until the treasurer can deposit them into the bank. Is this
OK? |
Q:
|
Explain
"deposit promptly." |
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| Questions
& Answers — |
| Q: |
When
PTA raises funds at school, it is often easier to place the money in the
school safe until the treasurer can deposit them into the bank. Is this
OK? |
| A: |
No.
The school safe belongs to the school district. When PTA places its funds
in the school safe, it has given up care, custody and control of its funds.
Always deposit PTA funds into the PTA's bank account as quickly
as possible; use the "night deposit" or "after-hours"
box at the bank if necessary. |
|
Q:
|
Explain
"deposit promptly." |
| A: |
"Promptly."
"Immediately." "As soon as possible."
The treasurer should not keep cash in her car or home. The deposit should
be made the day of the event or collection of money, if at all possible.
For safety reasons, the treasurer should not go to the bank alone. Two
people should bank large deposits after the money has been counted and
verified by two people. If a large amount of money is to be collected
at a time when the banks are not open, arrangements should be made ahead
of time to make a night deposit. But, REMEMBER - there are no receipts
when night deposits are made. You must check the bank statement each month
to make sure the deposit was recorded. |
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