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Committee recommends opening nonprofit bank account and discussed budget and audit requirements
Summary
With the municipality now operating a nonprofit that has received under $5,000 in donations, the finance committee voted to forward a recommendation to the full board to open a bank account and discussed the nonprofit’s budget process, 990 filing and audit expectations.
The Skagway Municipality Finance Committee voted to forward to the full board a recommendation to open a bank account for the nonprofit affiliated with the municipality. Alex Waddell said the nonprofit has just under $5,000 in donations ready for deposit and recommended establishing an account; the committee approved forwarding that recommendation.
The motion to forward the…
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