[committee] Protecting the rainy day fund

[Bob Adamson]

On Wed, 13 Oct 2010, Daniel Axtens wrote:

> Please let's not make decisions on the basis of whispers, rumours
> and/or incomplete information. We've had more than enough stress
> recently on the basis of incomplete information. It may be, as has
> just happened, that the full story will turn out to be substantially
> different to what was expected.
>
> Let's make our decisions by putting aside what other people and bodies
> may or may not do, and just decide on what is the best thing for our
> club to do at this point, given the actual information we know. If we
> don't have actual information that we need, let's go find out before
> planning.
>
> For example, how and when we move, and whether whether the Guild tries
> to fund it with a 16k Lion Nathan grant, or not, is irrelevant to the
> actual things we're trying to figure out:

Agreed, but it would be better to prepare for the worst, which is the only 
safe bet with the guild.

> - How do we flexibly store our money? How do we protect the money
> from corrupt committees?

Something like "Money will not be withdrawn from the principal amount of 
the fund without approval by special resolution of a General Meeting" and 
"all access to principal funds must require the signature of all executive 
members"

> - Each time the deposit matures, the interest rate could change. How
> do we manage this?

Well, we could put it in the hands of committee, with a 75% majority 
required, but make it so that a minumum percentage of income from it - 
enough to beat average inflation - must be reinvested.

> - How do we specify this in a clear and enforceable way?
>
> I haven't had the time to sit down and think about these questions,
> but lets focus on answering the questions on their merits, rather than
> on the basis of hearsay or guesswork.
>
> Daniel Axtens
> UCC Acting President
>