[802SEC] 802 Banking account proposal
Folks,
At the November plenary, I'd like to propose a motion, seeking your
approval to change our provider for banking services. In advance of
that, I thought I'd explain the rationale, and entertain your questions
so the matter could be dealt with expeditiously at the closing EC
meeting.
I'm proposing we sign on with a new program IEEE is providing referred
to as "Concentration Banking" where all societies/regions/conferences
etc pool their funds. Some advantages:
- We receive a more favorable interest rate (currently 4.94%)
- The program provides for a Bank Card (similar to a debit card) which
should facilitate small purchase transactions.
- The provider is Wachovia bank, so proximity to a physical branch will
no longer be an issue (US Bank's nearest location to me is Franklin, TN
- 4 hours away). Though instances are rare when I actually have to be at
a branch in person, it's a nice to have.
- The program provides individualized banking statements with all the
information we need to track transactions per our current practice. This
includes online facilities for monitoring account activity.
- There are no fees associated with the account.
- Transitioning the management of this account to my successor (whoever
the lucky person may be :-) should be easier as physical presence at the
bank is not required.
More information is available at
http://www.ieee.org/portal/pages/services/financial/treasury/concentrati
on.html
I'm happy to answer any questions or address concerns you may have.
Look forward to seeing everyone in November.
> john
> Treasurer, IEEE 802 Executive Committee
> Tel 770 708 7375 (ESN 268)
> Fax 770 708 7376 * Email jhawkins@ieee.com
> Mail 4145 Ivy Chase Ln, Suwanee, GA 30024
>
>
>
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