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[vox] Update On LUGOD Financials
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[vox] Update On LUGOD Financials



Re-sending, bounced the first time.

All,

This is an follow-up with regards to the decisions made at the last
monthly LUGOD meeting
regarding establishing a checking account for the group at the Golden
1 Credit Union.

The short version is that we have begun this process, but will need a
letter signed by two
or more officers authorizing not only myself, but all Bill, to open
the account in the group's
name. For those who are interested, a detailed history of events follows below.


Prior to the last monthly meeting, I contacted the Golden 1 Credit
Union, and asked what
would be required to open an account in the group's name. The person I
spoke with at the
Golden 1 Credit Union said I could open the account, and among the
documentation I would
need would be a letter, signed by two officers, expressing authorizing
me to open the
account in the group's name.

At the last meeting, the group agreed that we should open a checking
account in the group's
name at the Golden 1 Credit Union. To this end, I drafted a letter
authorizing me to open the
account, and had both Bill Kendrick and Brian Lavender (President and
Vice President,
respectively) sign this letter at the last Social Meeting on 8/4/2009.

Yesterday, 8/7/2009, I called the Golden 1 Credit Union to confirm
that someone would be
available to help open an account for the organization, as they
suggested I call ahead.
At this time, I was informed for the first time that to open the
account on behalf of the gorup,
two people were required to be physically present, and act as signers.
This was the first time
this requirement was mentioned, despite my asking for a full list of
requirements when I
last spoke with representatives from the Golden 1 Credit Union.

I called Bill Kendrick on Friday, 8/7/2009, and we agree to meet at
the Golden 1 Credit Union
in Davis today, to establish the account.

In reviewing our documentation, the representative assisting us said
that he could not open
the account, because the signed letter of authorization I had Bill and
Brian sign earlier this
week only expressly named me. I advised the representative that at no
point had any
representative from the Golden 1 Credit Union (in now twice asking for
the requirements)
mentioned that the letter needed to expressed name both parties who
would open the
account. (Again, please keep in mind that the letter was written and
signed, prior to my
being informed that at least 2 people would need to be physically
present to open the
account.)

What was done was that the representative verified both my and Bill's
identities, and
completed as much of the paperwork as possible.

What is needed now is:
1) A new letter, to be signed by two or more officers, which expressly
permits both myself
and Bill to open the account. As both Bill and I were physically
present, and our identities
verified, I would not have to be physically present to open the
account. All that would
be necessary would be for BIll to show up with the letter which includes the
authorization for him to open the account.

2) Confirmation from the IRS of our tax-exempt status. This will be
handled by the
Golden 1 Credit Union, and Bill and I will be contacted if there were
any issues. While
we were able to present two documents from the IRS, one establishing our
Employer Identification Number, and another discussing our tax exempt
status, the
Golden 1 Credit Union wanted to confirm with the IRS, as we did not
have a copy of
the original application for tax exempt status from the IRS. The only
documentation
I have from our previous Treasurer are the two documents I presented during the
application process while at the Golden 1 Credit Union. I will keep
the group advised if
the Golden 1 Credit Union advises me of any issues here, or a need for
additional
documentation.


Thanks,
Greg
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