Treasurer Policies

MADISON JUNIOR SCHOOL TREASURY POLICIES

Article I – EXPENDITURE POLICY  

The Madison Junior School Parent Teacher Organization (“MJS PTO” or “PTO”) is structured for  the purpose of supporting the education and welfare of the students at Madison Junior School  by fostering relationships among the school, parents and teachers. The PTO’s fundraising and  

spending are designed to enhance the educational experience the Madison Junior School  community. In accordance with the aforementioned purposes, the expenditure guidelines are  as follows:  

The MJS PTO will fund:  

• Educational enrichment to augment existing curriculum or instruction  • Cultural enrichment programs  

• Permanent facility enhancements that improve the overall comfort and appearance of  the facility  

• Classroom supplies, including books, which supplement the core curriculum beyond  the basic requirements of the district  

• Extracurricular organizational expenses for programs open to all students  • Hospitality at school sponsored functions  

• Occasional charitable contributions and gifts  

The list above is not all inclusive and may be amended at any time.  

The following expenditures should generally be considered outside of the PTO’s scope of  funding:  

• Maintenance or repair expenses for facilities or landscaping  

• Repairs to school owned equipment, including equipment previously purchased by the  PTO  

• Funding for state mandated or district mandated programs including training and texts  • Field trips in support of grade level curriculum  

• Textbooks for required district curriculum 

• Classroom consumables that support the basic curriculum (i.e. paper/crayons)  • Salaries or extracurricular stipends  

• Faculty travel expenses  

• Utility bills  

• Expenses which benefit an individual student only  

• Anything previously funded or currently within the scope of other district support  groups including Madison Music & Arts (the “MMA”), Madison Education Foundation (the  “MEF”), athletic booster clubs, etc.  

Article II – GENERAL GUIDELINES  

1. Reimbursement submissions, including itemized receipts, are to be reviewed and  verified by the person requesting reimbursement. This person shall also be responsible  for seeing that any goods/services are received or completed as specified.  

2. Reimbursement requests for amounts over $500.00 require the approval from one of  the Presidents or if not available, one of the Vice Presidents. This approval should be  secured prior to the submission of the check request.  

3. Authorized check signers are not permitted to write checks to herself/himself for  reimbursement. Such reimbursement should be reviewed by another authorized check  signer and that person shall write the check.  

4. All incoming funds should be received in cash, check or through official MJS PTO  transaction services. No member of the MJS PTO should receive funds into his/her  personal accounts.  

5. All PTO gifts must be approved by at least two Executive Committee members.  

6. Checks made payable to “Cash” must be approved by at least two PTO Executive  Committee members.  

7. All expense submissions should be sent to the Treasurer within 30 days of an event/ expenditure. However, all submissions must be made no later than July 15th so that  they are accounted for in the proper accounting year.  

8. It is expected that all PTO members will submit receipts for items purchased in their  PTO capacity so as to keep accurate accounting records of expenditures.  

Article III – MJS PTO EXPENDITURE PROCEDURE 

1. Any MJS member at large, including Board members, can propose an expenditure. A  request can be made to a PTO Executive Committee member in writing by letter or  email. The Committee member will then notify the PTO President(s).  

2. Requests valued up to $100.00 can be approved by the PTO President(s). Requests  valued up to $500.00 should be reviewed and approved by the PTO President and one  additional PTO Executive Committee member. Requests greater than $500.00 must be  approved by a majority of the PTO Executive Committee.  

3. The PTO Executive Committee has the right to request multiple quotes (up to three)  for consideration of certain expenses. Quotes must be equal in scope and specifics.  

4. An expenditure is considered approved if a simple majority of PTO Executive  Committee members approve the request. All PTO Executive Committee members are  required to exercise their fiduciary responsibility and vote. If a PTO Executive  Committee member has a direct conflict of interest on the item, they can abstain.  

Article IV – MJS PTO FACULTY GRANT EXPENDITURE PROCEDURE  

1. Any MJS faculty member may submit a Grant Request to the MJS PTO. Requests can be  submitted at any time during the school year.  

2. Request forms should be submitted to the PTO President(s) and to the Principal or Vice  Principal.  

3. The Principal or Vice Principal must approve the expenditure before review by the PTO  Executive Committee.  

4. Requests valued up to $100.00 can be approved by the PTO President(s). Requests  valued up to $500.00 should be reviewed and approved by the PTO President and one  additional PTO Executive Committee member. Requests greater than $500.00 must be  approved by a majority of the PTO Executive Committee.  

5. The PTO Executive Committee has the right to request multiple quotes (up to three)  for consideration of certain expenses. Quotes must be equal in scope and specifics.  

6. An expenditure is considered approved if a simple majority of PTO Executive  Committee members approve the request. All PTO Executive Committee members are  required to exercise their fiduciary responsibility and vote. If a PTO Executive  Committee member has a direct conflict of interest on the item, they can abstain.  

7. If approved, the PTO Treasurer will issue a check payable directly to the vendor or to  the PTO member responsible for payment. No checks will be issued to an individual  faculty member unless arrangements are made and approved prior to the purchase. 

8. The PTO Secretary will keep a list of all faculty grants approved and paid to date. The  Secretary must notify the Board of Education Business Administrator of all grants in  excess of $1000. Notification of any other grants may be made at the Secretary’s  discretion.  

Approved 10/2017