---------- Forwarded message ---------
From: Robert Lodder <robert.lodder(a)lpky.org>
Date: Tue, Feb 24, 2026 at 12:19 PM
Subject: MOTION: county parties must maintain their primary operational
bank accounts at the same financial institution utilized by the LPKY
To: <don.stacy(a)lpky.org>, <andrew.roberts(a)lpky.org>, Charles Altendorf <
charles.altendorf(a)lpky.org>
Bill Schult is asking about his county party money and I would like to send
it to him.
The following motion was tabled on January 13, 2026, to allow for further
discussion at the State Convention, as Ken suggested that an alternative
solution should be sought. I conferred with the county party chairs at the
Steering Committee meeting after the state convention, and they all agreed
in principle to the motion below.
Motion:
"I move that the Libertarian Party of Kentucky (LPKY) adopt a policy
requiring all recognized county affiliate parties to State Executive
Committee. This bank will be First Financial. Furthermore, all existing
affiliates shall be given a period of [e.g., 90 days] to transition their
accounts to the designated institution to ensure full compliance."
Rationale:
-
Reduction of Transaction Friction: Utilizing a single financial
institution allows for "book-to-book" or internal transfers, which
eliminates 1–3 business day delays common with ACH transfers between
different banks and avoids wire transfer fees.
-
Facilitation of Dues Sharing: A unified banking system allows for the
seamless distribution of the "county portion" of dues or donations from the
state to the local level. It would also allow LPKY to recover funds from
defunct parties, as required by our bylaws and KREF
-
Enhanced Transparency: Standardization simplifies the Treasurer's role
during audits or the preparation of KREF (Kentucky Registry of Election
Finance) reports, as data exports would be uniform across all party levels.
We recently paid about $5K in fines to KREF for noncompliance, and steps
must be taken to keep that from happening again.
-
Collective Bargaining Power: Consolidating the party's total assets into
one institution may make LPKY eligible for waived service fees or
"Premier/Business" tier benefits that individual counties might not qualify
for.
