FINANCE BANKING OFFICER

ScnAdmin

1. the Finance Office is an autonomous Office (similar to the Guardian's Office). It has representatives in every Bureaux and every Continental Liaison Office and every org, SO and Scn. It is located on the org board in the Office of LRH. Its representative is called the Finance Banking Officer (FBO). The FBO verifies and collects all income received by the org from the cashier or Income Dept, Div III, Treasury Division. This is done daily. The FBO immediately banks this money in a Finance Office account or in his safe, making express and useful records of this action. When the org or activity has undertaken its financial planning (FP), the FBO on his own discretion then transfers to that org's Main Account the needed funds. This is the allocation. The solvency of the orgs and areas is the responsibility of the FBO. The FBO statistics consist of cash paid in to management central reserves and the allocation -production ratio of each org and of the area. (HCO PL 29 Jan 71)

[BPL 10 Nov 73R reintroduces the term Flag Banking Officer instead of Finance Banking Officer.]

2. an org with an FBO makes more money and has a better paid staff and makes it more worthwhile for Flag to manage it than any org ever would without an FBO. The purposes of the FRO are(1) to make the org make more money.(2) to give the org a well paid staff.(3) to make it very worthwhile for Flag to manage and help it. An FBO must know how to make money. An FBO must know how an org makes money and keeps its reputation with excellent delivery. An FBO must know the policy expertise used in making money

(HCO PL 23 Sept 71)

3. it is a duty of the FBO to safeguard incoming monies and to ensure that all income is properly and legibly invoiced by the org and that the exact same amount is collected and receipted and banked by himself each day. (BPL 17 Feb 71-1R)

Abbr. FBO.