Jump to content
The Official RONR Q & A Forums

Bank Accounts/Treasurer


gxowens

Recommended Posts

Greetings,

As a non-profit organization our treasurer is responsible for accounting for all funds received and expended by our organization. There is currently a move to establish a special building fund for designated building projects. Do we need to provide specific language in a constitutional amendment to establish such an account?

If so, how should we construct such an amendment?

Link to comment
Share on other sites

Greetings,

As a non-profit organization our treasurer is responsible for accounting for all funds received and expended by our organization. There is currently a move to establish a special building fund for designated building projects. Do we need to provide specific language in a constitutional amendment to establish such an account?

If so, how should we construct such an amendment?

I don't know what your bylaws say now but if they contain general language outlining the duties of the treasurer, that should be sufficient for him/her to handle the new fund.

However, I recommend that EVERY organization with money accounts of any size should establish a "resolution of financial accounts and signers" stating the names and purposes of all your financial accounts together with the financial institution and account number, the names or titles of the persons authorized to sign on the account and the number of signatures needed in each case.

As such a resolution will be around for a long time, make sure you create a mechanism for keeping it visible and current.

-Bob

Link to comment
Share on other sites

As a non-profit organization our treasurer is responsible for accounting for all funds received and expended by our organization.

There is currently a move to establish a special building fund for designated building projects.

Do we need to provide specific language in a constitutional amendment to establish such an account?

No.

Robert's Rules of Order only concerns itself with parliamentary procedure.

Robert's Rules of Order won't mention ADMINISTRATIVE DETAIL, like (a.) bank accounts; (b.) building funds; (c.) signatures on checks.

So, whatever accounts you OPEN or CLOSE, whatever accounts you transfer money TO or FROM, such actions will NOT violate any rule within Robert's Rules of Order.

I should hope you already have rules in place which authorize you, or your treasurer, to do such things. But that is up to your own rules, or whatever superior rules imposed on you from a higher authority.

Link to comment
Share on other sites

I don't know what your bylaws say now but if they contain general language outlining the duties of the treasurer, that should be sufficient for him/her to handle the new fund.

However, I recommend that EVERY organization with money accounts of any size should establish a "resolution of financial accounts and signers" stating the names and purposes of all your financial accounts together with the financial institution and account number, the names or titles of the persons authorized to sign on the account and the number of signatures needed in each case.

As such a resolution will be around for a long time, make sure you create a mechanism for keeping it visible and current.

-Bob

In fact, many (most?) banks will require you to sign, on opening an organizational account, a statement certifying that, at a properly called meeting of the society, at which a quorum was present, a resolution was adopted to the effect that X, Y, and Z, were authorized to sign checks/documents/whatever on behalf of the society.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...