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[Neil McGovern]

On Mon, Nov 12, 2012 at 03:38:30PM -0500, Jimmy Kaplowitz wrote:
> On Mon, Nov 12, 2012 at 05:30:49PM -0300, Alvaro Herrera wrote:
> > Josh Berkus wrote:
> > > On 11/12/12 12:15 PM, Alvaro Herrera wrote:
> > > > Hilmar Lapp wrote:
> > > >> Awesome! -hilmar
> > > > 
> > > > Right.  So instead of 37,510.86 we don't currently use for anything,
> > > > there are now 47,510.86 in the bank we are not likely to use for
> > > > anything either.  Or did I misunderstand?
> > > 
> > > We have plans to use it for clerical/bookkeeping help, actually.
> > 
> > Oh, okay, that's great then.
> 
> Having general reserves is also good for unexpected expenses, such as
> (hopefully not!) any government fines or lawsuit damages which can't or
> shouldn't come out of a project earmark. But, yes, the expected near-term use
> is what Josh said.
> 

I'm fairly doubtful that 47,510.86 will make any impact on fines or
damages.

A reasonable reserves policy should indeed exist - it would be useful
(IMO) for the board to produce one based on a actual forecast need. For
example, the cost of employing our accountants for 3 months.

Neil
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