Flagstaff Neighborly Notes are a local medium of exchange sponsored by Flagstaff Tea Party. The currency system began in August 2000. Flagstaff Neighborly Notes serve the greater Flagstaff area, the city and surrounding county areas that depend primarily on Flagstaff for work and school, as well as shopping. The currency is complementary to federal dollars. Both have a useful place in the local economy. Neighborly Notes are backed by our mutual skills and labor as well as by our trust in each other. While the currency is sponsored by Flagstaff Tea Party, Flagstaff Neighborly Notes are “issued” when individuals and businesses who sign up to accept the notes spend the currency for the first time.

There are three denominations: a 1-hour note, worth $10 or 1 hour of labor (you choose!), a 1/2-hour notes worth $5 or 1/2 hour of labor, and a 1/10-hour note, worth $1 or 1/10 of an hour of labor.

Community currencies are completely legal. Federal law states that such currencies may not look like federal dollars, that denominations must be worth at least one dollar, and that people must report the U.S. dollar value of professional trades in the currency as taxable income. No special accounting is needed – just record the currency’s dollar value when necessary.

Anyone may accept and spend Flagstaff Neighborly Notes. Businesses and individuals voluntarily choose to accept the currency and set their own acceptance policies. You do not need to be officially signed up to accept or spend the currency. To officially sign up for the program for $10 you must offer goods or services to others. In return you receive $40 worth of Flagstaff Neighborly Notes and your listing(s) will be published several times a year in the “Flagstaff Neighborly Notes Community Pages” directory. If you would like to list additional goods or services under different headings, the cost is $1 per additional listing.

What if I have nothing to offer? How can I participate? If you do not to sign up, you may still assist the development of the currency system by offering to accept Flagstaff Neighborly Notes as change from businesses that accept the currency. You may also swap them for dollars. This helps to distribute the currency more widely within the community.

You may choose to renew each year for $10 plus $1 per additional listing. Renewing is completely optional. Your listings will be maintained as long as you or your business agrees to accept Flagstaff Neighborly Notes. However, if you renew you will be issued more Flagstaff Neighborly Notes worth more than the renewal fee. Renewing helps to support the currency program.

Flagstaff Neighborly Notes bills contain several counterfeiting deterrents. The bills contain two-color designs, embossed serial numbers, and colored stamped dates of issue. Counterfeiting of Flagstaff Neighborly Notes is punishable as a felony forgery.