Changes

Financial affairs of The Augustan Society, Inc., are ultimately controlled by the [[Board|Board of Directors]], but are the specific assignment of the [[Treasurer]]. Day-to-day operations are delegated to the [[Assistant Treasurer]]. The [[Finance Committee]] exists to advise the Board, Treasurer, and [[Assistant Treasurer]], the Receivers General of the senior [[Sub-Groups]], and to prepare the annual budgets for the Society and it's the six [[Sub-Groups]].

Two '''Bank accounts''' are used to hold all funds other than investments are three:

# A savings account at Wells Fargo bank which pays trivial interest;# * A checking account at Wells Fargo bank which pays no interest, and which has a debit card attached;# * A account with PayPal which pays not no interest, but which is useful for online purchases and the receipt of payments.

The balance of the PayPal account is kept to about $500, unless a larger purchase is contemplated. The checking account is held to the amount felt necessary to cover checks and debits. The rest is placed in the checking account, and transfers Transfers between the three them are made as necessary to maintain each at the desired level.

'''Bookkeeping''' is done using [http://www.gnucash.org/ GnuCash], free and open source software which is available for both Windows and Linux operating systems.

'''Investment Funds''' are held in two accounts at Morgan Stanley, and presently include GNMAs, corporate bonds, a mutual fundfunds, and a cash account bearing trivial interest.

'''Reporting''' consists of monthly statements of income and expenses against the General Fund submitted to the Board, plus the balances of a few special funds, including the Investment Fund. At present, no balance sheets are offered at any frequency. One Consul has asked that these be prepared monthly, There are at present no reports of cash flow nor performance compared to the other has vetoed thisbudget.

'''[[Pricing]]''' is a non-trivial task, especially considering the huge number of items but is based primarily on offer. There are a few guidelines, which are that the cost of any item, exclusive of shipping, should be set so that the member price is twice the identifiable raw incremental costs, with non-member pricing set by applying member discounts in reverse. These non-member prices are then doubled and rounded up to the nearest dollar, save that only two-digit values will be used. This last means that after $99 and $100, the next prices should be $110, $120, $130, $140, etc. An alternate proposal still under consideration is to use the 5% preferred value system. After prices of $1 through $9 dollars, all others are taken from the following list, with as many multiples of ten as needed: 10, 11, 12, 13, 15, 16, 18, 20, 22, 24, 27, 30, 33, 36, 39, 43, 47, 51, 56, 62, 68, 75, 82, and 91. In this system, prices after $100 would be $110, $120, $130, $150, etc. At present, this is only being used to members' discounte price used books, but it may spread. The logic here is that sophisticate buyers are not impressed by pricing things at $19.95, preferring $20 as more honest. It also permits changing prices in bulk much more quickly due to the limited number of discrete prices possible.

*[[General Fund]]*[[Investment Fund]]*[[Eagle General Fund]]*[[Eagle Insignia Fund]]*[[Rose General Fund]]*[[Rose Chapel Insignia Fund]]*[[Rose Insignia Chapel Fund]]*[[Rose Training Fund]]*[[SDLKJ Fund]]*[[SDI Fund]]*[[SDS Fund]]*[[SDC Fund]]*[["Buy-A-Box" Fund]]*[[Cataloging Fund]]*[[Annual Fundraiser Funds]]