FINANCE OFFICE NO. 1 ACCOUNT

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Definitions

1. all income is banked into the FO No. 1 Account and all counter checks and bounced checks are handled by this account. A bounced check float is kept in the FO No. 1 Account as a cushion against bounced checks. The following amounts are transferred from the FO No. 1 Account each week: (1) 5% of the CGI to Main Account for payment to WW by Division 3. (2) 5% of the CGI to (org name) local GO Account. (3) 10% of the CGI to the GO Reserve Account (defense). (4) any support to other orgs such as FOLO or Estates. (5) the payment of the overdue management bills. (6) any set asides for refunds or repayments to GO Reserve Account (defense). (7) the balance which is the org allocation sum goes to the Main Account. (8) the FBO transfers the FSM commission amount over to the Main Account. (9) the FBO transfers the HCO Book Account income to the HCO Book Account. (BPL 6 Jul 75 III)

2. the FBO never spends any money out of his No. 1 Account. Money goes into it and is transferred out of it. Only transfer checks are drawn on it (to management reserves or to Org Main Account). (BPL 17 Feb 71R)