Thursday, February 27, 2014

A WASTE OF TIME TALKING TO A DUMMY


Posted by Dorothy Tetro

Mr. Rivera – in your blog on February 25th you have posted a message to “Dottie”.  Your heading is followed by a mean spirited comment addressed to “Dottie”.  I am not sure who Dottie however, inasmuch as you are questioning a withdrawal of monies from the Reporter checking account, and inasmuch as I – Dorothy – am still the Treasurer, I want to set your mind at ease.

Your question – paraphrased -
In June of this year a transfer of $25,000 from the Reporter account; where did it go and why? 

My answer -
As a member of the Executive Board, I would have anticipated that you would remember the importance of our adhering to our By-Laws which require ALL of our money to be FDIC insured.  In order to accomplish this goal, ICS Sweep Accounts were established.  The transaction you cast suspicion upon was merely a transfer of funds from the operating account to the Sweep account. (A normal business transaction - Editor)   And, as a matter of fact, when the Reporter was short of funds in its’ operating account monies were “swept” back to meet the needs.


In addition, this re-allocation of Reporter funds has been documented monthly on the Cash Balance statement I provide – as Treasurer – to all who attend the Delegate Assembly meeting on the first Friday of each month.  It is part of my regular Treasurers report and if you would like a copy just let me – Dorothy – know.       

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