b. Atlan LLC will operate on a Calendar Year, beginning January 1 and ending December 31.
8.1.0. Financial Authority. The membership has authority through consensus support to purchase, own and hold real and personal property and to mortgage this property, to borrow money, execute notes and to undertake other obligations as necessary to accomplish the goals of Atlan.
a. Once approved, project spending flows from Pod budgets at the discretion of the Pod
8.2.0. Dedication of Earnings and Assets. The net earnings, properties, and assets of Atlan are dedicated to benefit Atlan and it’s members. Any funds accumulated in excess of budgeted reserves will be returned to Atlan to expand facilities or services or for other purposes consistent with these Operating Agreements.
8.3.0. Authorization of Debt. The membership may authorize individuals to incur debt on behalf of Atlan. Only an all-member decision would authorize the incurring of debt.
8.4.0. Non-Liability. No member of Atlan LLC is individually liable for the debts, liabilities, or obligations of Atlan LLC. Atlan LLC is not liable for the debts, liabilities, or obligations of members of Atlan LLC.
8.5.0 Financial Records: Accurate Financial Records will be kept for all Atlan LLC activities. Records will be saved by the Finance Pod and books will be maintained by a bookkeeper according to GAAP (Generally Accepted Accounting Principles)
a. Transaction Log: All financial transactions will be recorded in the Master Ledger by the Treasurer
b. Payroll Accounting and Taxes: All Payroll, State, and Federal Taxes will be accounted for by the bookkeeper.
8.6.0 Financial Statements: Periodic Financial Statements will be prepared by the Finance Pod and will include:
a. Annual Balance Sheet, Income Statement, and Cash Flow Statement
b. Monthly Income Statements: Reports the earnings by stating all relevant income and all expenses that have been incurred to generate that income. Also referred to as a profit and loss statement.
c. Monthly Cash Flow Statements: Reflects the inflow of revenue vs. the outflow of expenses resulting from operating, investing and financing activities on a monthly basis.
d. Monthly Capital Accounts: A statement of the net worth of Atlan LLC.
e. Monthly Service Accounts: An account stating the amount of service hours invested in Atlan LLC by its members.
8.7.0 Budgets
a. Annual Budget: Atlan LLC will use a Projected Monthly Cash Budget updated on a Quarterly basis, for planning purposes. This Budget will be prepared by the Treasury Pod following an all-member meeting, and will include all projected income streams and expenses for the following Quarter and the rest of the Year.
b. Project Budgets: Each Proposal and resulting Project will have its own line-item Budget that spells out the estimated expenses for its completion. Ongoing and long-term projects will present tiered budgets showing expenses for each month as appropriate.
8.8.0. Contributions are due of all members based on Member contracts. There are both Capital and Service/Energetic contributions.
a. Dues will be based on the Annual Budget and included in Member Contracts.
b. Capital contributions will be recorded in the Capital Accounts Logbook and Capital Accounts Page of the Financial Statements
c. Service/energetic (time) contributions of 13 hours per month shall be recorded in the KoA ReMember Contributions Logbook.
d. Penalties for failure or inability to comply will follow Peer Review Protocol and may result in fines and could lead eventually to disassociation.
8.9.0. Equity is the value of ownership and is equally shared among members.
8.10.0 Buy Sell Agreement
a. New Member Buy-in / Addition of new members. See Provisional Membership Section 3.2a1
b. Buy-out
1.Transfer of member rights in the case of Dissolution or Dissociation of a Member shall be approved by an all member consensus minus two decision.
2. A twelve-month notice period is required for withdrawal and is contingent upon finding an all-member approved buy-out.
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