On Mon, Nov 12, 2012 at 03:38:30PM -0500, Jimmy Kaplowitz wrote: > On Mon, Nov 12, 2012 at 05:30:49PM -0300, Alvaro Herrera wrote: > > Josh Berkus wrote: > > > On 11/12/12 12:15 PM, Alvaro Herrera wrote: > > > > Hilmar Lapp wrote: > > > >> Awesome! -hilmar > > > > > > > > Right. So instead of 37,510.86 we don't currently use for anything, > > > > there are now 47,510.86 in the bank we are not likely to use for > > > > anything either. Or did I misunderstand? > > > > > > We have plans to use it for clerical/bookkeeping help, actually. > > > > Oh, okay, that's great then. > > Having general reserves is also good for unexpected expenses, such as > (hopefully not!) any government fines or lawsuit damages which can't or > shouldn't come out of a project earmark. But, yes, the expected near-term use > is what Josh said. >
I'm fairly doubtful that 47,510.86 will make any impact on fines or damages. A reasonable reserves policy should indeed exist - it would be useful (IMO) for the board to produce one based on a actual forecast need. For example, the cost of employing our accountants for 3 months. Neil
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