I should perhaps add that although there are many methods possible, you
perhaps might want to rethink explicitly partitioning the checking
account << doing that for funds kept in the savings account a different
matter >>
Money is fungible. It isn't specifically money in the checking account
that is restricted but organizational money, and the restriction means
that amount must be used for the specific purpose. The "liability"
method I described is making it clear that "this money is owed to the
donors" but how is this really different from a member making a loan to
the organization?
In other words, for cash flow purposes, for determining if a check can
be written without bouncing, those funds are IN the checking account.
They can (at least temporarily) be used for something else. And if so
used not NECESSARILY needing to be replaced. Remember, restriction is at
the will of the donor. Can always ask a donor or donors to release the
restriction.
Michael D Novack
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