Monitoring the Red Cedar Zen account at WECU, I am one of two signers on the WECU account. The treasurer and the registrar have access to the paypal account.
The lease is paid automatically each month from the RCZC checking account. I check to make sure there is enough money in the account to cover the monthy bills, which includes the lease and several utilities payments—Puget Sound Energy, SSC, phone, internet etc. These are paid electronically, as is the monthly stipend that goes to our spiritual director, Tim Burnett. Check that BIMS has made their monthly rent payment into the RCZC checking account. This usually shows up as a large deposit each month, and often includes other money. You can transfer money from the RCZC savings account to the RCZC checking if needed.
The amount of the monthly rent is adjusted each year of the lease, currently each October, so after the payment has been made in September, check on what the new amount will be for the next 12 months and change the automatic payment on the WECU website.
Part of monitoring the accounts is looking at the checks that are written (this can be done online) to make sure that they make sense, and checking the amounts in the savings and checking account in the first few days of each month. Generally speaking, we don’t need to keep more than $6-7,000 in the RCZC checking account so the rest can be kept in savings where we earn some interest. Tim’s monthly stipend (currently $1200) is automatically transferred each month from the RCZC checking account, so check that that has happened each month.
Notify the accountant/bookkeeper of any changes you make---money transfers, changing amounts of automatic payments, etc. You can also ask the accountant/bookkeeper any questions you might have.
The gatekeeper has a debit card for the RCZC account and the PIN numbers and can use them as needed for authorized purchases, or loan them to a member who is getting supplies for the group. The treasurer has the other debit card.
The gatekeeper is one of two signers on the accounts at WECU and can sign checks when requested by the accountant or others. When a check is written, the information is recorded in MoneyMinder----who the check is for, the amount, and what type of expense. Sangha members requesting reimbursement for expenses fill out a request form, including receipts. These forms are filed in the "paid" file in the office. It's a good idea to check for bills a couple of times per month. Access codes for our RCZC account, PINS for the debit cards, and how to transfer funds or change payment amounts etc. as well as how to use the Moneyminder website, will be given to whoever does this job next. I did not want to include this information here.
The burser is a member of the finance committee and attends meetings from time to time, helps create the annual budget and participates in any financial projects requested by the board of directors.
This information was written in November 2017. John Wiley