Here is another topic for our review and discussion.
From the 2012 LMSC Standards survey results, we found that 81% of LMSCs report that they are meeting the requirement related to LMSC Financial Compliance as described in F2:
"LMSC bonding insurance provided by USMS, which covers LMSC officers, requires the following: (a.) Bank accounts be reconciled annually by a person other than a person who is authorized to sign checks (b) Dual signatures are required on all checks of $5,000 or more."
How does your LMSC succeed in meeting this requirement?
What challenges or obstacles have you encountered as you attempt to meet the requirements of F2?
Thanks in advance for taking the time to provide your feedback.
- The LMSC Mentoring Subcommittee