Open for discussion and questions regarding Treasures Report:
- Jo, DCM of 25, asked if the Area had a prudent reserve. The answer was that yes, we have a working reserve calculated on the last three years’ budgets, we add those up and take an average, it’s normally a 10% minimum of that (this year we did a 12% based on inflation) giving us a $21,400.00 working reserve. When contributions sometimes take a while to get to us, we use the working reserve, and when the contributions come in, we replenish it. That makes it different than an untouchable prudent reserve.
- Jack, Area 72 GvLit Chair asked for clarification on the online $2.98 processing fee for 7th Tradition versus the $5.93 processing fee for checks. Theresa, the Area 72 Treasurer stated that those charges are for GSO contributions not Area 72 contributions. Area 72 has to pay a $15.00 a month fee to mobile check deposits from the Area Treasurers home.
- Laura stated that the processing fees at GSO are because they have paid employees and the processing takes time.
- Pete asked if the Finance Committee has discussed making the working reserve a line item so there would be more transparency in seeing how much is being used and what remains. Derek, the Area 72 Alt Treasurer said that had not come up, but it may now in the future, and it is a wise way to see what we have spent.
- Ian, GSR for We Know Only a Little asked about the amount of that has already been paid for computer equipment. Derek N., Area Alt Treasurer explained that this equipment was necessary immediately and because of a delay in getting the new Area debit card activated they didn’t get the deal they expected for the equipment, therefore the expenditure went over budget for the year.
- Bud W., Area 72 Accessibility Chair asked for clarification as to where the funds came from for the computer expenditure. Theresa H., Area Treasurer stated they will just be over budget.
Motion to approve Treasures Report Moved by District: 42, 2nd by District: 17, Passed
