[Oceania-Board] Shift of funds between accounts

[Greg Lauer]

Hi All,

I don't think the issue is so much transferring money (or the amount of transfer) from one OSGeo account to another OGeo account but the process on how we do it.

As a background to this email Alex sent Trish and I a quick slack message asking one of us to authorize a transaction (moving funds from one account to another so we can cover our outgoings). We do this by logging into the ANZ web site and clicking a button. I had a quick a conversation with Alex, in that I felt myself and Trish should no longer be signatories (as per the OSGeo Finance Policy) and probably shouldn't use our credentials to log in to the accounts without approval from the Board. Alex agreed and sent the below email.

To be clear I see no issue on moving money between accounts - we have done this multiple times and, in my opinion, well within the remit of the Treasurer. It is the issue of who are signatories and the process around adding and deleting.

We have a Finance Policy that documents that executive members should be signatories on the accounts and we need two signatories to access one the accounts. It is my understanding at this time only Alex, Trish and myself are signatories. It is unlikely that Dionne, being in NZ, and Ed being in the US will be able to be a signatory, due to the rules of ANZ in Australia (and federal money laundering rules regarding residency). I believe that Jonah is in the process of getting access (Alex?).

To solve the immediate problem (we need some funds in our current account to pay bills) I can authorize the transaction as a one off. Is the Board happy that I do this? I don't think this needs to be a Loomio vote but really a 'yeah go for it' or 'nope'

We do need a longer term solution and would suggest that the Finance Committee meet and look at reviewing and updating the processes around signatories. For example allow any 3 board members to be signatories (as opposed to just the executive Board members).

Greg

On 2/25/2021 3:19:40 PM, Edoardo Neerhut <eneerhut at gmail.com> wrote:
Hi Alex,

Thanks for getting onto this. It makes sense that we have a minimum amount in the transaction account and that the treasurer has the ability to top it up whenever we go below that amount.

If everyone agrees, I can amend the finance policy and put it to a board vote on Loomio. The section below can be amended so that it's clearer and we set the amount to $2,000. Jonah would still need to approve, but it wouldn't require a board discussion.

[image.png]


I have an ANZ account, so I will confirm with them what options I have. I didn't get a hard no like Dionne yet, but if I'm unsuccessful, Jonah and yourself makes sense.

Cheers,

Ed

On Wed, 24 Feb 2021 at 17:09, Alex Leith <alexgleith at gmail.com [mailto:alexgleith at gmail.com]> wrote:

Hey Folks

I would like to transfer some cash from our savings to our transactions account. The savings account currently has around $85 k in it, and our transactions account is down to $200.

I think we should transfer $2,000 from savings to transactions, and I need Greg or Trisha to authorise this.

Are we ok with this?

And the meta question is, does this need approval or notifications?

And the final point is that I will start the process of changing bank account operators, probably will end up just being Jonah and myself, due to Ed being overseas and Dionne in NZ.

Cheers,


--

Alex Leith

m: 0419189050
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