[vox] [fwd] Re: LUGOD Treasury Position And Financials

[Bill Kendrick]

I forget if this got onto 'vox' yet.

-bill!

----- Forwarded message from vox-bounces at lists.lugod.org -----

Date: Fri, 10 Jul 2009 22:48:44 -0700
From: G Fitzgerald <gfitzgerald1024 at gmail.com>
Subject: Re: [vox-officers] [vox] [fwd] LUGOD Treasury Position And Financials
To: "LUGOD's general discussion mailing list" <vox at lists.lugod.org>, LUGOD Officers <vox-officers at lists.lugod.org>

All,

Here is the plan I recommend:

At the beginning of the next LUGOD meeting, we will set aside some time
to discuss financial matters. This discussion will include the following:

1). Enforcement of existing/enactment of new accounting policies.
Going forward, any and all contributions to the donation jar will be
counted at each
meeting, and recorded in the official meeting minutes. If no one else
is interested,
I will take on this responsibility - I welcome Bill or anyone else who
is interested to
assist in the count/double-check the count. Bill or myself will deposit the
donations collected into the group's account as soon as possible.

2). Group discussion and decision on which financial institution will
hold the group's
funds.
In the brief conversations Bill and I had today, we discussed that it would be
appropriate for the group to be involved in the determination of where
funds would
be held.

3). Determination of current balances.
3a). Bill, please bring (as you always do) the donation jar, along
with a count of its
contents. A reminder if you've not already done so - please follow-up with Dos
Coyotes, and make sure the fund-raiser dollars are also included in the count.
3b). Bill, please bring a list of any expenses incurred (i.e., the
business cards, etc.)
3c). I will bring the check Henry provided, with the rest of the group's funds.
3d). The amount collected in the meeting's donation jar will be tallied.
3e). The total of these funds, less the expenses Bill has incurred,
will be the group's
"current balance." This amount will be recorded in the meeting's minutes.

4. Group discussion and decision on which size, and the location of, the PO Box
to be used as the group's official mailing address.
Options and costs are as follows, per 12-month billing cycle:
3 in x 5.5 in - $60.00
5 in x 5.5 in - $96.00 - This is what I would recommend.
11 in x 5.5 in - $176.00
11 in x 11 in - $320.00

5. Follow-up actions.
Following the group's decisions, Bill and I will discuss which of us will be
available to deposit funds and obtain the PO Box first. This person will
establish the bank account and PO Box, per the group's decision, as soon
as possible. Once the funds are available in the account, the PO Box will be
established, and this new mailing address communicated to the IRS. We will
contact the IRS and verify that there are no outstanding/current compliance
issues.

As always, I remain open to suggestions from the group.
I believe that these actions are appropriate, and will assist us in getting the
group's finances back on track.

Thank you,
Greg


On Fri, Jul 10, 2009 at 5:28 PM, Bill Kendrick <nbs at sonic.net> wrote:
>
> On Fri, Jul 10, 2009 at 03:54:48PM -0700, Bill Kendrick wrote:
> > Good point.  I agree.  I've asked Greg to investigate banks that make
> > sense for LUGOD (in terms of sensible rates, easy access for LUG officers
> > to to deposits, etc.)
>
> Greg talked to Wells Fargo, but they cannot provide any service that
> won't end up charging us $5/mo for not having $1000 or more in the checking
> account.
>
> I walked next door (I'm at Common Grounds at the moment) to Yolo Federal
> Credit Union and asked what they could provide.  They have a "Simply Free"
> checking service for businesses & groups like us.
>
> Based on my _very_ brief discussion with one of the nice folks there,
> I was told we'd need to:
>
> (1) Pay $10 to open the account (and provide details and copies of IDs
>    for people who will have access to the account)
> (2) Keep $200 in the Savings Account throughout the month (or maybe it was
>    month-to-month?  In any case, I'm not sure if we can dip below $200)
>
> Considering we have $800+ right now, and very little in the way of
> expenditures, I think that's survivable.
>
> It seems Henry did not supply any kind of ledger to Greg, nor is there
> an up-to-date one on the website, last I checked.  At the least, I can
> list the _inflow_, based on donations at meetings.  This will give an idea of
> how much we take in, on average:
>
> 2006.01.16 $26.00
> 2006.02.20 $38.00
> 2006.03.20 $18.00
> 2006.04.17 $??.??
> 2006.06.19 $3.00
> 2006.08.21 $20.00
> 2006.09.18 $?.??
> 2006.10.16 $?.??
> 2006.11.20 $0.00
> 2007.01.15 $?.??
> 2007.02.19 None collected
> 2007.03.19 $??.??
> 2007.05.21 $29.00
> 2007.06.18 $??.??
> 2007.07.16 $??.??
> 2007.09.17 $??.??
> 2007.10.15 $??.??
> 2008.01.21 $55.50
> 2008.02.18 $0.00
> 2008.03.17 $??.??
> 2008.04.21 $??.??
> 2008.05.16 $??.??
> 2008.06.16 $0.00
> 2008.07.21 None collected
> 2008.08.18 None collected
> 2008.09.15 None collected
> 2008.10.20 None collected
> 2008.11.17 $59.80
> 2008.12.15 $43.49
> 2009.01.19 $290.00
> 2009.02.16 $??.??
> 2009.03.16 $13.89
> 2009.04.20 $23.74
> 2009.05.18 $14.00
> 2009.06.15 $23.35
>
>
> Sadly, it looks like there were a bunch of times that Henry and/or Nick
> and/or I didn't figure out how much was collected, and therefore the
> amounts didn't get into the meeting minutes.
>
> (I think I know how much was taken in at February's meeting, it's probably
> on a slip of paper in our due collection jar, along with all of the cash
> from Feb, Mar, Apr, May and June. -- So we actually have $75+ more than
> what Greg received from Henry.)
>
>
> Oh crap, plus Alex gave me $40, which I put in my wallet, and eventually
> ate into.  So _I_ also now owe LUGOD $40 from an Installfest.  *sigh*
>
> BLAH! >:^(  Glad this is all getting back on track, though.
>
> --
> -bill!
> Sent from my computer
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> vox-officers at lists.lugod.org
> http://lists.lugod.org/mailman/listinfo/vox-officers


----- End forwarded message -----

-- 
-bill!
Sent from my computer