AGENDA BOD Meeting March 19, 2014

AGENDA BOD Meeting March 19, 2014 Mar 20, 2014 3:04:01 GMT -5

Post by BagLady on Mar 20, 2014 3:04:01 GMT -5

From the Unofficial Summary of BOD Meeting 3/19/14 Treasurer's Report:

SS: Financials are on website; things are going good; expenses under budget, everything is progressing well. Signors on account need to be updated with bank with accounts/lock box. Named the authorized signors included Bd Stmb Ixx.

After I got over my shock at hearing that our Directors had authorized a VENDOR to cosign our checks, I headed for the Bylaws:

ARTICLE VII
FINANCE
Section 1. The funds of the corporation sH all be deposited in such banks or depositories as may be determined by the Board of Directors from time to time, upon resolutions approved by the Board of Directors, and sH all be withdrawn only upon checks and demands of monies signed by such officer or officers of the corporation as may be designated by the Board of Directors.

The "why" is not that important-yet. Who can ever know why this board does what it does when it decides to ignore our own governing documents and statutes-not to mention common sense? Members need to pay attention to this and require our directors to adhere to this critical safeguard! The BOD is not authorized to delegate signing checks to anyone other than OFFICERS!

To be cross-posted under Budget and Financials

Post by Admin on Mar 17, 2014 10:19:34 GMT -5

Post by BagLady on Mar 20, 2014 3:04:01 GMT -5