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

[ken.moellman at lpky.org]

The motion is open for discussion.

I understand where this comes from, but I think this may be a source of additional issues. Unless we choose an institution with physical locations throughout KY, there will be issues opening accounts and dealing with any problems that require an in-person visit to resolve.

There are very few banks that operate statewide in KY so the options would be very limited.

I believe an alternative solution should be sought to address the issue.

My immediate thought is to make the state treasurer the assistant treasurer of all affiliates as a non-voting ex-officio officer. That provides the ability to transfer funds, opportunity to help affiliates directly, and provide oversight for kref compliance. We could also provide for a preference of banking institution if available in the region.



Jan 10, 2026 15:36:22 Charles Altendorf <charles.altendorf at lpky.org>:

> 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)*
>> 
>> 1. *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.
>> 
>> 2. *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.
>> 
>> 3. *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.
>> 
>> 4. *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