More WTS cash-grabbing: "Funds on Deposit" program for Circuits

by sir82 21 Replies latest jw friends

• 

  sir82

  At a recent circuit assembly "business meeting" for elders, a new program was announced: "Funds on Deposit".

  Here's how it works:

  Each circuit determines a "floor" and a "ceiling" for an amount to hold in their circuit checking account. When the "ceiling" amount is exceeded, the amount above the threshold is wired to the WTS and held by them.

  If the circuit checking account drops below the "floor" amount, the circuit can send a request to the WTS to request that some of their "funds on deposit" be returned to them so that their checking account resumes a "safe" level.

  As explained by the elder explaining the program,, "In other words, the branch is acting exactly like a bank - the circuit will make deposits and withdrawals as needed. Of course the branch will pay no interest [chuckle chuckle], but in our current account we aren't being paid any interest either."

  I.e., translated into plain English: "Give us your money, and let us do with it what we wish. If you have a need, we may return some of it, grudgingly, if you jump through the right hoops and provide explicit doumentation why you need it."

  What are they doing with all this money they are grabbing?
• 

  hoser

  This might backfire on them. Elders who know about this scheme might keep their wallets closed from now on. It is just like the new kingdom hall financing arrangement the pride of contributing to your local kingdom hall has been taken away. It might be easier to let someone else contribute.
• 

  OneEyedJoe

  I wonder if the circuit will actually ever get their "funds on deposit" back when they need it. More than likely, they'll just have a "caring for the needs of the circuit" part on the next assembly to beg for more money.
• 

  WingCommander

  I swear, just when you thought you've heard it all, you hear some more. What a bunch of freakin' crooks!

  I find it amazing that in the local churches in my area, every month (sometimes weekly) in the printed church "program" there is an exact breakdown of all accounts with deposits, withdrawls, expenses, donations, etc listed. It is all out in the open for the public to see. Anyone can question it, examine the books, etc. A stark contrast to the JW.borg way of closed-door meetings and subtle, cleverly disguised shakedowns. This is nothing more than a power trip and money shakedown in the extreme!

  I've been saying it for a few years now: Money only flows one way in this Cult, out of the wallets of the sheeple and up into the coffers and hedge funds of the leadership. What a fleecing of the flock! They give absolutely ZERO back to their members in financial aide or assistance, and if you were to DARE to ask for any, they have the galls to tell you it's not their responsability to provide for you (Jehovah provides, not THEM!) and that you should hit up your so-called "worldly" relatives in times of need first. The freakin' balls these clowns have! I swear if I were still in, I'd be punching people in the face for the audacity they display.

  They haven't gotten 0.01 cent out of me since 1993. How do you like that, you greedy cult azzholes?

  - Wing Commander
• 

  Splash

  UK congregations have operated this Funds On Deposit Arrangement for a few years now.

  The letter instructed them to have 3 months operating cash in the bank, and the rest sent to bethel in this fund.

  When the khall accounts are read each month, this figure is included.

  How long until a letter asking for these funds to be donated instead?

  Splash
• 

  sir82

  Oh yeah, forgot to mention this:

  Of course, this is all "confidential information" - only elders were invited to this meeting, aand the arrangement was not announced to the general population.
• 

  ruderedhead

  Will they charge interest if the funds fall below the "safe level", and the congregation needs the money back?

  That seems like a reasonable question someone might want to ask.
• 

  Vidiot

  Man, they're really pushing to set the revenue flow in stone these days, aren't they?
• 

  OnTheWayOut

  I see this down the road:
  
  Dear North Mind Control Congregation,
  
  We noticed your Funds on Deposit account has been untouched for a whole year. Therefore, we are moving the funds to our ivory tower cleansing program and thank you for your contribution. Please see if you can put more funds on deposit.

  Sincerely,
  Blood Sucking Organization.
• 

  respectful_observer

  Was there any mention of increasing the circuit's donation to the Kingdom Hall Building Fund?

  The reason I ask, is that at our recent Circuit Assembly, they read a letter from the WTS thanking them for the $500 donation made at the last CA. Then they went on to announce that at this CA's "business meetings", the elders had decided to send $2,600 to the Kingdom Hall Building Fund. It left me wondering what the motivation was behind the more than 5-fold increase in the donation.