Forum Replies Created

  • michele

    Member
    November 30, 2023 at 8:34 pm in reply to: Is every board member legally responsible for the integrity of our books?

    I agree with previous responses. I am Attorney.

    The board members can’t depend on other board members to fulfill their duties. But if the treasurer represents the financial statements are correct, trust me then the board should trust them but still read the financial statements. The board members have to verify others assertions.

  • michele

    Member
    November 30, 2023 at 8:26 pm in reply to: Allocating Severance Pay/ Retirement Insurance – Functional Allocations

    This is a retirement benefit expense. Expensed currently. I don’t see how you can use previous or historical percentages. These retirement benefits do not futher current programs. Allocating to historical work does not assist in compliance and doesn’t make transparent. Nor does it assist in budgeting, performance evaluation or strategic planning. I would leave in admin as retirement benefit. Or am I missing something?

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