Proposed Bill for passage by the RA…………………….
Responsible Neualtenburg money management.
(1) To establish a Finance Committee of the Neualtenburg city, composed of three members of the Representative Assembly, the GuildMeister, and one other Guild member. The committee will hold the responsibility for all funds of the city and will collect all revenues and pay all expenses that apply to the city government. The committee will establish various money accounts which in its opinion will enable it to responsibly and transparently manage these funds. Every month, and/or at other intervals that may be requested by the RA, the Finance Committee will provide a complete public report of: (1) The income and expenses for the given month and year, with breakdowns so that the RA and the citizens at large can see the profitability of the casino, rentals, vender sales, etc and (2) the overall state of the city’s financial health (as shown in its balance sheet, which is a statement of how much the city owns and how much it owes). The committee will perform its financial duties as consistently as possible (given the limited financial tools available to Second Life residents) in accordance with general accounting procedures, so that any citizen who understands those procedures can have a clear understanding of Neualtenburg financial activities. And, in fact, the committee will attempt to present its reports in such a way that even non “accounting-enabled” citizens will have a clear sense of how the money is being used.
(2) That the members of the Finance Committee serve limited terms, which end each time a new set of RA members assume their positions after an election. That the 3 RA members of the committee be appointed as the first order of business of the new RA body, and that the Guild member other than the Guildmeister be appointed by the Guildmeister at the same time. This proposal makes no specific limit on the number of sequential terms a Finance Committee member may serve. It is urged, however, that the members be changed with some frequency for the sake of healthy financial management.
(3) That until such time as the owners of Second Life provide the residents with better tools for the management of group finances, the members of the Finance Committee shall determine among themselves, as their first order of business, the members who will establish “alts” solely for the purpose of holding the various accounts needed to fulfill the charges in paragraph (1). That all members of the committee shall have the passwords of all alt/accounts established by the committee. And that the alts established by the previous members of the finance committee be left in place until such new alts/accounts are established, and, when they are, transfer their funds into each of the corresponding new accounts.
(4) That the first configuration of this committee be as follows. From the RA, the members proposed are Talen Morgan, Roberta Dalek, and Sudane Erato. The Guild should be represented by acting Guildmeister Catfart Grayson and by another Guild member chosen by him. That the committee establish three alt/accounts at its beginning. The first, by Catfart Grayson, to handle all transactions regarding property rentals and vender sales. The second, by Talen Morgan, to handle all transactions relating to the casino. And the third, by Sudane Erato, to receive net revenues from the other two accounts and to be responsible for the general financial obligations of Neualtenburg; principally the purchase of a new sim and the payment of monthly tier for it.
(5) An example of how the accounts will work is the casino account. The account will be “funded” (have money put into it) by volunteers willing to advance the dollars needed to start up the casino. Careful record will be kept. From that funding, the start-up expenses (new machines, kick-off party, etc) will be paid. As the casino operates, hopefully, the balance in that account will grow. After one month, record will be made of the increase in the amount of the account. That increase is the “gross profit” of the casino. Half of that amount will be paid back to the “funders” (with interest, if that is decided upon), and the other half will be paid to the general city account. Hopefully, before many months, the funders are paid back, and all gross profit is paid to the general city account. All these transactions are recorded, and they become the basis for the financial reporting of the city. The other two accounts will work in similar ways, each depending on the needs which it must serve.
(6) That it be an article of policy that “free and clear” donations to the city be discouraged, particularly as the city manages to achieve financial stability. Donations, unless clearly defined, can contort the free exercise of speech and opinion. While the author of this proposal profoundly appreciates the generous donations that many have made to sustain Neualtenburg up until the present day, so that the experiment could even hope to survive, it is proposed that such donations be gradually phased out. Neualtenburg is an economic and political entity. Gifts potentially represent a “conflict of interest”, and should be carefully limited.
(7) That in the light of paragraph (6) an attempt be made to list and identify the donors and amounts of funds given so far to Neualtenburg, to the extent possible, and that these amounts be entered into the financial records of the city as money owed. And that the RA determine whether and if interest should be due on money owed.
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That if the Finance Committee, in the opinion of the majority of members of the RA, should fail to perform its responsibilities as defined in this bill, that by 2/3 vote the RA can recall the three RA members.
