Can a Parent Booster Club give a loan to the wrestling team?
Question: Our wrestling team is short on funds and asked our Parent Booster Club for a donation to this program. The Booster Club said they would give the team a loan. My question is: Can I deposit the Booster check for the loan into the ASB wrestling account? Then when the team has raised enough funds to cover the loan, can I then write a check to the Parent Booster Club? From my reading the FCMAT Manual I know that within the ASB organization loans can be made within the ASB/Clubs. To be honest with you I really don’t like the idea of a loan from an outside source. This is something the Parent Booster Club came up with. Response: Because booster clubs and ASB are two different entities and their funds should always be kept separate, we dont believe it would be permissible for a loan to be taken from the boosters club. That deficit will have to be covered somehow, though, but we believe it should be from within ASB or the district, not an outside parent group. Education Code 48937 est
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