[Lpk-execomm] MOTION: motion to use the same bank for counties and the state

[Charles Altendorf]

I second this motion so we can open discussion

On 2026-01-05 21:33, Robert Lodder wrote:

> I move that the Libertarian Party of Kentucky (LPKY) adopt a policy 
> requiring all recognized county affiliate parties to maintain their 
> primary operational bank accounts at the same financial institution 
> currently utilized by the LPKY State Executive Committee. 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.
> -------------------------
> 
> SUPPORTING ARGUMENTS (RATIONALE)
> 
> *
> 
> Reduction of Transaction Friction: Utilizing a single financial 
> institution allows for "book-to-book" or internal transfers. This 
> eliminates the 1-3 business day delays common with ACH transfers 
> between different banks and avoids wire transfer fees.  Huntington Bank 
> (LPKY's current bank does not do transfers in both directions, i.e., 
> from the LPKY account to counties, and from the counties to LPKY) so 
> the state party will have to change banks like the county parties.
> *
> 
> Facilitation of Dues Sharing: As the LPKY often manages joint 
> membership structures, the unified banking system allows for the 
> seamless distribution of the "county portion" of dues or donations from 
> the state to the local level.  LPKY can recover funds from defunct 
> parties, too, 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 the reporting formats and data exports will be 
> uniform across all party levels.
> *
> 
> Collective Bargaining Power: By consolidating the party's total assets 
> into one institution, the LPKY may be eligible for waived service fees 
> or "Premier/Business" tier benefits that individual counties might not 
> qualify for on their own.
> 
> --
> 
> Robert A. Lodder, Ph.D.
> Chief Executive Officer
> 
> Phone: (301) 476-0705
> Email: rlodder at biospherics.net
> 
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-- 
Charles Altendorf

Libertarian Party of Kentucky - Secretary
Libertarian Party of Woodford County Kentucky - Treasurer