Budget Policies & Procedures
The proposed budget shall be included in a school-wide newsletter prior to the May meeting.
The proposed budget shall be presented and voted upon at the May PTO meeting.
Any non-budgeted expenditures must be approved in advance by the PTO during a meeting. In the event that time is short, all PTO officers must approve any non- budgeted expenditure from the general fund for up to $200. Unbudgeted, non-emergency expenses shall not exceed $1,000 in total in one year.
The disposition of any funds remaining in the treasury at the end of one school year shall be determined by the Montclair PTO, Inc. at the last meeting of the school year prior to turning the meeting over to the officers' successors.
All funds raised in the current year will be passed to new officers as the operating fund for the next year's proposed budget activities.
A reserve fund of at least $5,000 shall be maintained separate from the operating budget each year, to be used for urgent unbudgeted needs, as determined by the PTO membership.