Well, saw this coming.
First the congregations bank accounts then the publishers.
October 31, 2017 TO SELECTED BOEs IN THE US BRANCH TERRITORY Re: Discontinuation of the Funds-on-Deposit Arrangement
by wifibandit 38 Replies latest watchtower beliefs
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JeffT
My guess the funds on deposit arrangement has some banking regulations that the corporation is not willing to meet, like an escrow account. Maybe a CPA or a financial expert will comment on this.
I'm not a CPA, but I've been an accountant for about twenty-five years. This was my first thought. They would have to keep all of those funds in a separate account or they're co-mingling funds - accounting speak for stealing (er..."borrowing"). .
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pepperheart
The problem i think is that the avarage jw knows of all the cuts that the watchtower has made these past years and so thinks that they dont need to give any money
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LV101
"First the congregations bank accounts then the publishers" ??? scary! Where's wikileaks when we need them?!
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FadeToBlack
@pepperheart: in addition, the 'average' jw has no money to give. I have known some who have the money but they are few and far between. I think even they are wising up.
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LV101
What are they doing with all this chunk change in addition to their Crooklyn haul?!
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Half banana
As the masked highwayman said pointing both of his cocked pistols, "Stand and deliver".
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pontoon
My second thought on this is hide the money, get it out of corporation owned accounts. As judgements against the corp are handed down and upheld I'm sure they don't want the court's to know how filthy rich and flush with cash they are. Corp is rolling in money and can't spend it fast enough.
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Tech49
So, in review:
Any extra funds on deposit should be sent to us via the KHC fund, 'cause we plan on bulding lots of KH's in the future...we promise...... If that doesnt happen for some reason (like you all get lazy or something), then the funds will be returned to your bank account. At which point you will be asked to donate it back to us to the World Wide Work....because.... you dont really need that money anyways.... so...... ya.
PS. make sure to keep 2-3 months worth of operating expenses on hand tho, because thats all you really need. Hey, and thanks for your generous spirit!
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Crazyguy
So true Tech49 so true!