Just a quick thought on trying to spend the money. Remember that CDs usually have a specific maturity date, with a penalty for early withdrawl. So while it may not be proper to sit on the money instead of spending it on the kids, it also may not be fiscally prudent to make an early withdrawl.
The penalty is loss of interest, not loss of principal. So you may want to direct the treasurer to determine when the CD matures. Pick an acceptable window (3 months? 6 months?), and write the motion to indicate that if the maturity is inside the window you will wait, otherwise you will accept the penalty.
The other thing to consider is that there are a number of ways to get rid of a motion that you don't want. Some are perfectly allowable within Roberts Rules, others are not. Study your Roberts and be prepared -- you never know when you will need a well placed point of order.
I'd like to know how you raised that kind of money? We had a raffle last spring with the funds to be used towards playground equipment for our new school which is to be ready this fall. We put that money into a CD. We sure could use $35,000. Playground equipment is expensive!!
Oh, my, my do I agree with SFilak about what we could do with $35,000.00. That's too much money
to have sitting around. It needs to be used up on the kids that's what we are all about not making
interest on money that belongs to those kids. How about new bike rack, all the different machines SFilak mentioned. If I had a wish list you would make it come true. Subscriptions, purchase something for the library that the kids could use. Anyway, definately make a motion to spend some of that money.
<blockquote>quote:</font><hr>Originally posted by Lu: The large "sum" in the CD is $35,000, and there is no reason for the savings other than the president is "very" fruggle. Now that more parents are becoming involved they are very upset with this and want this money put back into the school for the children however the president refuses. What happens now??<hr></blockquote>
:eek: I don't blame anyone one bit. That is a huge sum of money to be sitting around. Do you know the playground you could get? How long has this money been sitting collecting interest? And where is the interest going? We have a nice rainy day savings cushion of about $3500, but $35,000, is enough for monsoon season. The pres can't just say that it can't be spent. Bring up a motion at your next meeting to pull some $ out of the CD and purchase something that the school needs.(new stage curtains and risers, sno-cone machine, cotton candy machine, new computer....wait, thats what we need) Anyway, it doesn't seem fair that this money is available to further the educational experience of these children NOW, and it is sitting in account earning minimal interest "just in case"
I just can't believe that $35,000 is not being spent on these kids!!!
The large "sum" in the CD is $35,000, and there is no reason for the savings other than the president is "very" fruggle. Now that more parents are becoming involved they are very upset with this and want this money put back into the school for the children however the president refuses. What happens now??
<blockquote>quote:</font><hr>Originally posted by Susieq04: not if they are claiming a non profit tax exempt organization they shouldn't be..Unless it is earmarked and designated as a scholarship fund...
Non-profits can have savings. A good example would be the national PTA, which is a 501(c)(3) and which has millions in the bank. I'm not saying there's anything wrong with that (in fact, it's a prudent long-term move), just using it as an example to disprove your point.
