Guest Sharon Iyer Posted May 28, 2019 at 07:29 PM Report Share Posted May 28, 2019 at 07:29 PM At a business meeting, once the treasurer has given the monthly financial report, is it necessary to vote on accepting it when the budget for the year has already been approved? Quote Link to comment Share on other sites More sharing options...
Joshua Katz Posted May 28, 2019 at 07:33 PM Report Share Posted May 28, 2019 at 07:33 PM No, and it is not proper to do so. Quote Link to comment Share on other sites More sharing options...
Greg Goodwiller, PRP Posted May 28, 2019 at 07:47 PM Report Share Posted May 28, 2019 at 07:47 PM Here is the relevant passage from RONR: "Action on the Financial Report. No action of acceptance by the assembly is required—or proper—on a financial report of the treasurer unless it is of sufficient importance, as an annual report, to be referred to auditors. In the latter case it is the auditors' report which the assembly accepts." (RONR pg. 479, ll. 5-9). The point is that "accepting" an unaudited financial report can have the effect of accepting something as valid that an expert has not so verified. We aren't attorneys, here, but our attorneys tell us that is a bad thing with respect to liability. After hearing or reviewing financial reports, I say something like, "are there any questions? Hearing none, thank you, madam treasurer, the report is filed for audit." Quote Link to comment Share on other sites More sharing options...
Guest Thanks! Posted May 28, 2019 at 07:53 PM Report Share Posted May 28, 2019 at 07:53 PM Thank you Joshua and Greg! Quote Link to comment Share on other sites More sharing options...
Recommended Posts