RE: [gentoo-trustees] Banking, take 2

[Daniel Robbins]

> Dear all,
>   We really need to get banking resolved so that we can
> attract some funding and pay bills.  To do that, we need to
> select a Secretary for the Gentoo Foundation, we need to
> select an account admin to interact with the bank, and we
> need to choose a bank.  I'm nominating myself for both
> Secretary and account admin.*  (Yep, power hungry, that's my middle
> names.)  Kurt has strongly recommended netbank.  Meanwhile,
> I'm in the process of moving, so I'm not likely to be around
> much until next Monday, so you have plenty of time to talk
> about me behind my back.

I also recommend that you get a very good accountant. Gentoo Technologies,
Inc. hobbled along with an accountant who didn't give the company close to
the attention it deserved, and it hurt us quite a bit. You should try to
find an accountant that can educate everyone on the board on how to follow
proper corporate accounting rules (keeping receipts for everything, filing
forms on time, etc.) If the accountant can provide some longer-term
financial planning advice, you will be well-served. 

A good accountant will leave you convinced that he/she is looking out for
the Foundation's best interests. If Kurt's wife has the necessary experience
to do this area, then that would be great. If she's just doing to do "the
books," then I'd recommend you still also look for an experienced accountant
who can oversee the finances of the Foundation to ensure that the day-to-day
book-keeping complies with the various state and federal regulations and is
as effective as possible. Then the accountant can act as a financial advisor
to ensure that your processes are as good as they can be.

I learned this all the hard way, unfortunately :) Be extremely picky when it
comes to accountants -- demand the best.

Regards,

Daniel


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