Proposed Treasurer Position

Proposals for legislation and discussions of these

Moderator: SC Moderators

Post Reply
User avatar
Sudane Erato
Forum Wizard
Forum Wizard
Posts: 1186
Joined: Thu May 25, 2006 8:44 am
Contact:

Proposed Treasurer Position

Post by Sudane Erato »

As I mentioned, I have separated the role of Estate Owner and Treasurer in my proposals. Here's my proposal for Treasurer.

Sudane.....

-------------------------------------

TREASURER

The responsibility of the Treasurer is defined as follows:

The Treasurer shall oversee and be responsible for the receipt and disbursement of all money received by the City and for the investment of money received by the City.

It shall also be the responsibility of the Treasurer to assure that the fiscal integrity of the City is protected and that all funds are accounted for, whether revenues from taxes, rental charges, user charges, fees, grants, gifts, or any other source and that expenditures comply with applicable Linden Labs TOS's, City TOS's, City Constitution and Laws, City Policies, Administrative Policies and Procedures, court orders and any other mandates affecting expenditures of funds and the management of the City.

In addition, the Treasurer is responsible for establishing controls which will prevent any expenditure of funds which does not meet the requirement of this policy. Violations or attempted violations of this policy are to be reported to the AC, RA and SC(or their successors) immediately upon detection.

The Treasurer shall be responsible for establishing and maintaining internal control procedures that include but are not limited to:

Proper authorization of transactions and activities.

Adequate documents and records.

Adequate safeguards over access and use of assets and records.

In order that the City present fairly and with full disclosure its financial position and results of operations, the Treasurer is responsible for establishing and maintaining an effective accounting system that will result in the:

Identification and recording of all valid transactions. Description on a timely basis of the type of transaction in sufficient detail to permit proper classification of the transaction for financial reporting. Measurement of the transaction's value in a manner that permits recording of its monetary value in the financial statements. Determination of the time period in which the transaction occurred to permit recording of the transaction in the proper accounting period. Proper presentation of the transaction and related disclosures in the financial statements.

Policy Regarding the Treasurer

The RL person, in the form of their principal avatar, must be a citizen of Neufreistadt, as defined by the founding documents.

The RL person must establish an alternate avatar; that is, one different from their primary SL persona avatar. This alt avatar shall be technically a bank account of the governing entity". All funds of this "Treasurer avatar" are and shall remain the property of Neufreistadt, until the termination of the Treasurer's term in office, at which time they will be transferred to a newly appointed "Treasurer avatar".

Likewise, should the governing entity decide to continue accepting US$ payments, the RL person must establish a Paypal Business account with the buisness name corresponding to the governmental entity which the Treasurer serves. This account, too, shall be technically a bank account of the governing entity. All funds of this Paypal account are and shall remain the property of Neufreistadt, until the termination of the Treasurer's term in office, at which time they will be transferred to a newly appointed Paypal account.

The Treasurer must disclose their RL contact information in confidence to another Citizen of their own chosing in case the untoward should happen to the Treasurer. In this eventuality, access to the Treasurer' alt account and access to the Paypal account would be necessary.

The position of Treasurer shall be understood as a "civil service" type position. The citizen holding this role will not occupy any other elected or administrative position in the governed entity which he/she serves, unless a waiver might be granted, on a case by case basis, by the SC. She/he shall be appointed by the Chancellor, with the advice and consent of the RA, and shall jold their position until they may resign or removed for cause. Any such planned transition shall be of a duration of no fewer than 60 days to allow for reestablishment of accounts and the transfer of funds.

Duties of the Treasurer

1) To pay to the Estate Owner, in a timely fashion, funds sufficient to cover the sim's monthly obligation to LL, along with associated costs which may in incurred.

2) To handle real estate transactions under the direction of the appropriate government bodies of Neufreistadt; e.g., to receive applications from new members and existing citizens for the purchase or transfer of sim(s) land; to prepare necessary the deeds, to guide applicants through the process to ensure transactions are properly executed, and to keep accurate public records regarding the sim(s); the land, the parcels, the ownership configuration, and the obligations of each citizen regarding their monthly fee.

3) To handle the financial transactions under the direction of the appropriate government bodies of Neufreistadt; e.g., to collect revenues, disburse expenses, transfer and exchange currency, and to maintain the necessary in-world and RL accounts needed to administer City funds in both L$ and US$.

4) To maintain a financial system in a manner consistent with RL standard accounting practices, using standard double-entry bookkeeping principles.

5) To maintain an open reporting and record systems which provides the Citizens of Neufreistadt information regarding the financial status of the city and land ownership data. However, RL information regarding Citizens, e.g., contact information, paypal account information, etc., shall be kept private.

6) To cooperate with the bodies of government as established by the citizens of Neufreistadt in carrying out the duties and responsibilities of the office and to work with any special Committees established by such bodies to develop and implement suitable oversight systems.

7) To provide other duties as assigned.

End of Proposal -----------------------------------------

Post Reply

Return to “Legislative Discussion”