[Theforum] bank accounts (was: treasurer duties)

Marlene Bruce marlene at members.evolt.org
Thu Jan 10 08:48:24 CST 2002

Amanda and Joel,

Thanks for redirecting at least a little of our attention to this.

Amanda wrote:

>Maybe you could ask if they have any ideas about how to solve this.
>Digital signature? Some sort of note of authorization? Of course, this
>might also open up the account for abuse anyway.

and Joel:

>My wife the banker suggested two options: have a limit, over which two sigs
>are required (making smaller amounts more accessible by check) and arranging
>with the bank to allow a faxed sig for the second signatory (to create money
>orders for larger amounts. Not useful for checks, though.) Where she worked
>(Union Bank in California) this kind of arrangement was pretty much at the
>branch manager's discretion.

I'll inquire about all of these ideas, thanks!

Back to Amanda:

>It seems to me that we could start out *not* putting money in an
>interest-bearing account and that would solve that problem. Of course,
>any smart business person would tell you to always maximize the
>potential for interest earned. (I wonder if earning interest would
>affect a not-for-profit bid.)

Well, I'd prefer it just 'cause I don't want the *personal* tax 
headache. Good suggestion.

>At some point we have to decide how we're going to handle this. We just
>cannot take donations without a better structure in place. There needs
>to be some checks and balances. I think if we're going to resist
>structure then we will have to give up on the idea of a business
>account. It would be shameful to solitic monies and then not be able to
>distrubute it in a lawful and appropriate manner.

+1. This brings up a host of other issues surrounding the Executive 
committee and BoD. If evolt is going to actually become something 
more than a hobby for all of us, we're going to have to get some of 
our fundamental issues ironed out.

>>  We could sign up for a DBA account, and switch to an official small
>>  business account in the future.
>This is probably a good way to start. That way if we want to informally
>donate money through the admin or theforum group we would at least have
>a place to put it. Maybe this would help us get some documentation for
>the second part, too -- 2(a) above.

Thanks, I'll let you know what the bank has to say.


>  > P.S. Maybe, just maybe, something is happening on the job front for
>>  me! Oracle just called...
>Yea! Let us know.

After numerous phone calls back and forth with three people at Oracle 
(including two phone interviews), I'm still waiting to find out if 
they're interested enough to hire me for a 3 month contract. I'm not 
feeling too good about the prospect at the moment, despite what 
seemed to be successful interviews. I fear the über-manager might be 
having pause about my lack of solid XML skills, even though I'm 
really suited for the job in so many other ways. I picked up another 
XML book on Tuesday and have started learning in earnest (if not for 
this job, than possibly something else). It doesn't seem it'll be too 
hard to pick up...

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