[Businessmtg] Banking and prudent reserve

[Mary Abbott]

Thank you Steve, Anne, and Sheila (and SC) for your work in terms of financial procedures. I think that it is a good move to have ASP funds in a bank that is in all 50 US states and probably also international. 

I think it’s fine to increase our prudent reserve to the minimum balance of $2000 in our account in order to avoid fees. Prices only go up. If we set our prudent reserve at $2000, we won’t have to reset it for a while.

I am not opposed to “passing the basket“ more often. And I also think that it would be good to ask our daily chairs to mention the importance providing service by donating to ASP. 

Finally, in terms of having more ways for our members to contribute, most every bank now has Zelle. I was ASP treasurer and processed PayPal payments. Zelle is a lot easier than PayPal in terms of hoop jumping of reporting payments because it goes right onto the bank ledger and statement. Since ASP funds will be in a bank account no longer linked to Steve’s personal account, that ledger and those statements will be easily available to the treasurer 24/7 as needed. PayPal is antiquated. In addition to asking for donations more often, I believe that making donations easier for the treasurer as well as ASP members through a bank to bank transfer would also increase our donation level.

Thanks again to everyone on the SC for making these changes to our financial procedures.

Mary A

Sent from my iPhone