As a member of a local PTA/PTSA unit executive committee/board it is your responsibility to make sure the local unit is operating in a fiscally sound manner. This is not only a requirement of the bylaws, but, in fact, is also demanded by state and federal laws. This is known as fiduciary responsibility. You are legally obligated to conduct yourself in a manner which protects and preserves the association. If a member of the local board fails to exercise proper and reasonable caution, he or she is open to potential personal liability for financial losses or mismanagement. All board members and others handling the money at events, fundraisers, etc., should know and understand the financial practices and procedures of your unit and as prescribed in the Oregon PTA leader's Manual (see the Financial Essentials Chapter) and in your standing rules. If at anytime you suspect something is not right with your unit finances, contact the Oregon PTA State office or Oregon PTA Treasurer immediately.