Lions Club- Interest/Investment of Public Funds

As at the end of 2017, The Lions Club of Kota Kinabalu Host had a fixed deposit of about RM70,000 which is from excess project funds accumulated over the years.

It was disclosed by Past President Joseph Chai at the 8^th BOD’s meeting that the intention is to build this amount to RM100,000 and interests received from the investment is to be used for  administrative purposes. (I have mentioned earlier that this disclosure was not recorded in the minutes.)

Here is something relevant I found on the internet.

Question: If our lion’s Club invests our public funds, would we be able to use the interest for administrative costs?

Answer: No, the interest raised is considered public funds.

Question: How long can our Lions club invest public funds before spending it?

Answer: The funds should be spent within the same year received unless they have been designated for long term projects. That is for a project earmarked with a targeted completion date.

I have checked with some PDG’s in US and they have confirmed that one may have investments but the investment together with the interest or dividend must be given to the public. It cannot be used for administrative purposes as suggested by Past President Joseph Chai.

The deeper I dig the deeper the shit hole gets.

Note: I have said before that I don't understand how such an important matter as disclosure of the extra bank accounts and the fixed deposit was not recorded in the minutes. Perhaps our expert on Robert's Rules Past President CCPung may be able to enlighten us.  

Isn't it baffling to know that none of the educated men in LCKKHost know that money cannot be invested for more than a year and that any such money cannot be used for administrative purposes?