[Mail_treas] Alumni Association

[Zach Niblick]

Good morning everyone,

Our District's Alumni Association has asked if the District would mind taking over their bank account and managing the funds of their annual banquet. Per discussions, the person in charge of this event is the class that graduated 50 years ago that year and changes each year, so there is no one person consistent with the event. They have had one person keep the bank account in her name for many years, who no longer wants to bear the burden of the funds. They cannot find another who wishes to take this responsibility, so they came to ask us.

My concern with this is that if the school takes over the bank account and managing these funds, every year a new person will need to be instructed on all of the nuances of school finance (depositing within 1 business day, requisitions, supporting documentation, etc.), and they may not know who is in charge until some of these compliance laws have already been broken. Without consistency is some regard, I find it to be a bad idea for the school to take over this account and attempt to manage these funds.

Do any of your schools have a similar organization and have you found a solution to this problem? Any advice is appreciated.

Thanks!

Zachary J Niblick
Treasurer
Johnstown-Monroe Local School District
441 South Main Street
Johnstown, Ohio  43031
Phone: (740) 967-6846
Fax: (740) 967-1106
zniblick at jmk12.org

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