Bonding
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Bonding How many clubs have considered purchasing or purchased bonding for their treasurer? We do not. We trust our Treasurer, do an annual audit, and have a Treasurer's report at each monthly meeting. Also have bivio for members to check their account. Jayne Gilbert Rainbow Investment Club of Houston (RICH) On Saturday, September 6, 2014 11:43 AM, Jeanne Tieken <jeannetieken@gmail.com> wrote: How many clubs have considered purchasing or purchased bonding for their treasurer? Our club has been around for over 30 years and never bonded the treasurer On Sat, Sep 6, 2014 at 12:43 PM, Jeanne Tieken <jeannetieken@gmail.com> wrote:
Both my clubs are BetterInvesting clubs, and both purchase Fidelity Bond insurance through BetterInvesting. It's not that we don't trust our Treasurers, but the insurance is not that expensive and it brings peace of mind. One important thing to remember about Fidelity Bond insurance - your club MUST have performed an audit of the prior fiscal year for the insurance to be effective. Of course, an up-to-date audit also brings peace of mind (and may keep the IRS or state revenue authority away). P.S. I am the Treasurer of one of my clubs and Presiding Partner (President) of the other. Can Bivio consider offering bonding insurance to its member clubs? ---------- Forwarded message ---------- From: William C. Peterson <wmpeterson@cox.net> Date: Sat, Sep 6, 2014 at 12:34 PM Subject: [club_cafe] Re: Bonding To: club_cafe@bivio.com Both my clubs are BetterInvesting clubs, and both purchase Fidelity Bond insurance through BetterInvesting. It's not that we don't trust our Treasurers, but the insurance is not that expensive and it brings peace of mind. One important thing to remember about Fidelity Bond insurance - your club MUST have performed an audit of the prior fiscal year for the insurance to be effective. Of course, an up-to-date audit also brings peace of mind (and may keep the IRS or state revenue authority away). P.S. I am the Treasurer of one of my clubs and Presiding Partner (President) of the other. It is insurance and we should never leave home without it. If people make their bed hard they have to sleep in it. Go on and purchase it. Then write it off. Be smart! Sent from my iPhone
Better Investing already offers it with club membership at additional cost. In my opinion and that of my partners, if you have good financial controls, it offers little benefit for the cost. Mike Jones Wall$treet Wannabees From: Jeanne Tieken <jeannetieken@gmail.com> To: The Club Cafe <club_cafe@bivio.com> Sent: Saturday, September 6, 2014 1:16 PM Subject: [club_cafe] Fwd: [club_cafe] Re: Bonding Can Bivio consider offering bonding insurance to its member clubs? ---------- Forwarded message ---------- From: William C. Peterson <wmpeterson@cox.net> Date: Sat, Sep 6, 2014 at 12:34 PM Subject: [club_cafe] Re: Bonding To: club_cafe@bivio.com Both my clubs are BetterInvesting clubs, and both purchase Fidelity Bond insurance through BetterInvesting. It's not that we don't trust our Treasurers, but the insurance is not that expensive and it brings peace of mind. One important thing to remember about Fidelity Bond insurance - your club MUST have performed an audit of the prior fiscal year for the insurance to be effective. Of course, an up-to-date audit also brings peace of mind (and may keep the IRS or state revenue authority away). P.S. I am the Treasurer of one of my clubs and Presiding Partner (President) of the other. |
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