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HelloThis is Samuel and I will discuss this and provide you information in this regard.I suggest that the bylaws of the Board should have the process for a resignation. However, it generally requires that you write a resignation letter and provide it to all the Board Members.It can be short and simple such as:This is Notice that I am immediately resigning from the position as President of the Board.And sign your name.
I see.Thank you. What happened to the other members?
You need to have a vote on this and and how to dispose of the money in the banks. Are you the signatory on the accounts? Where did the money come from? Residents of the community where you are the president of the Board?
Ok. I suggest you contact the banks. Get a final and full accounting after fees etc. Then you need to write the members, and enclose copies of those bank records. You tell them this money is left in the accounts. And that you need input on how they would like it to be returned.The best scenario is it is you write checks to all the members from the account, equally. So if there are 20 members that contributed and there is $2000 in the accounts, once the bank collects all their fees, etc you would split those remaining funds equally.
Once it is determined how much is remaining after the banks fees, then you can have the bank help you make the distributions equally.But you need to write the letter to each and copy the accounting information.And mail those letters to the contributors
Or you can talk to the bank and tell them there is no more Board. And you are resigning and you want to keep the accounts open for the next Board, but need to resign as signatory on the accounts.But it is best to get that input from the contributors as to how they want to proceed and the majority rules.
I understand. And so the best option is to have the most recent members vote on what should be done with it - maybe be donated to a charity.
You can write them a letter, tell them the situation, enclosed an accounting, give them 10 days from receipt of the letter or email to let you know what they prefer - an equitable refund or donate the money.
Ok. Then some one runs the Senior Center, correct? I am guessing it is county owned. And you don't want to give the county the money - and so you need to talk to the director of the center and have them take over the accounts until a new Board is formed.
Correct. You tell the center that you want to transfer the money to them, until a new Board is formed. You need to work out those details with the center's director.
Or if the secretary is not going to resign, make them the signatory and you resign, the money stays in tact under the responsibility of the remaining member.
As long as this is all documented. So you will have a meeting with you and the secretary, the minutes will be taken and reflect the procedure that the secretary agrees to oversee the accounts until a new Board and Treasurer are appointed/formed.
That way when the new Board is formed, the new President and Treasurer will take the signatory from the Secretary and things continue. But have it in the minutes.
Ok. If there are no Board members once you resign, then I suggest you discuss this with the director and have them take over the account for a new Board.
Who runs the Senior Center?
There should be in your Board Bylaws provisions for when a Board it totally dismantled. The funds would transfer according to those bylaws. Do you have those?
Ok. Thank you.I suggest you contact the CA Department of Aging. They oversee Senior centers.Phone:(###) ###-####/p>
Tell them the situation. They can provide you the information as per the Bylaws on how to dissolve the Board, your resignation and what to do with the accounts.
Ask for the Director's Office.
Her name is***** as Director of the California Department of Aging (CDA).
So call the number I provided, ask for the office of Director Lora Connolly and talk to her staff/assistant.
Tell them what your situation is and they can guide you on what the Bylaws stipulate must be done with the open accounts and remaining funds.
You are welcome. I am sure they will be able to assist you. $27,000 is a lot of money and if the center is still operating that money is going to be needed. Thank you for the opportunity to assist you and good luck.
You are welcome. Thanking you in advance for a positive rating.