[committee] Membership 2008

[Davyd Madeley]

On Mon, May 19, 2008 at 02:34:50PM +0800, Grahame Bowland wrote:

> > Additionally, having our money held in trust by the Guild allows the
> > Guild to generate revenue off club funds while we're not spending
> > them, thus enabling grants and handouts to a greater value than we'd
> > create in interest off a $3000 bank balance. It's a win-win
> > situation.
> 
> Not really, we'd get a better win with real amounts of interest on our
> $3000 that could then be reinvested back into the club.

Assuming you could get 8% that's only $240.

Most banks however require you either to have significantly more
money in the account (e.g. > $5000) or not to make any withdrawls in
that month.

Maybe if the UCC was dealing in real amounts of money it would be
worth it.

Don't forget as well, we can currently issue free cheques, and it's
especially painless to pay our biggest creditor (University
Finance).

You can transfer money into the Guild's account if you tell Henry
the value in advance and it has a message on it like FOR UCC. It's
only really useful for large amounts though.

--d

-- 
Davyd Madeley

http://www.davyd.id.au/
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