Resolution 2018-09-10.mzh.1: Establishing additional SPI banks accounts
Martin Michlmayr
tbm at cyrius.com
Wed Sep 5 19:22:36 UTC 2018
* Michael Schultheiss <schultmc at spi-inc.org> [2018-09-05 15:16]:
> Rationale: SPI currently holds in trust and in its general fund well
> over the FDIC insured limit. Dividing up SPI's funds just to remain
> under the FDIC insurance limit places undue burden on the SPI Treasury
> team. Since SPI and its associated projects do not need immediate access
> to all funds held in trust/general, a portion of the funds SPI holds
> should be placed in secure high interest bearing accounts such as
Agreed. (Personally, I see the risk of having too many bank accounts,
and the associated time to check everything is ok, higher than one of
the major banks failing in a way that funds are lost.)
--
Martin Michlmayr
https://www.cyrius.com/
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