Finance & Legal minutes: 2010-06-22

Minutes:

Minutes of F&L meeting

6-22-10



Present: Elph, Carl, Amy, Cher, Aaron (by skype!)



1. Status of Association fees



All but one household was caught up on association fees as of the end of
May. This month, a handful of households are late but these appear to be
mostly oversights.



2. Status of Lien



We reviewed a draft of letter from our attorney, Dave Keast, edited by Cher,
informing the household that is seriously in arrears that we are going to
place a lien on their unit. This household did not keep their recent
agreement on paying down their debt, with no payment coming in for three
months, and without any communication from them. They did make a payment
this month. Their debt is now about $4000. So now we need to go forward
with the lien.



Cher noted that Keast has more than spent our retainer on his research and
work on the lien. This is supposed to be passed on to the unit in arrears,
but for now we need to pay it. Do we need to keep track of this? Keast is
keeping track of this.



We need to clarify with Keast when he is charging us and when not. Cher has
a copy of Keast’s statement. She will send it to us so we have it, and we
need to make this amount known to the household. We will give them a copy
of the statement from Keast with a note attached explaining that these
charges will be passed on to them.



The lien will not need to be updated; one time covers all the debt, whatever
it is.



We approved the lien letter with just minor changes. To keep Keast’s costs
down, Cher will prepare the lien letter on GO letterhead and Aaron will sign
it as Treasurer. We’ve done what we need to do for the lien with Keast’s
help.



There was discussion about additional measures we could take to help the
household pay off their debt and to help the community retire the debt.


3. Budget process



MONKEY: Aaron will ask Rod if he would be willing to lead the budget
process again. If he agrees, Aaron will find out what support he needs – and
whether he’d like time on any future F&L agendas.



4. Review Realtor Letter for Membership



MONKEY: Amy will send Membership’s draft letter, Elph’s comments, and the
prospective member packet to the group so we can edit this. Cher will take
a stab at editing the letter.



We haven’t received any notices about the foreclosed unit recently. Let’s
look into this in late July rather than pay Keast to look into it now.



Dave Butler has been paying his association fees, in full and on time,
throughout this period.



5. Annual review



Mary provided some information about firms who could do the annual review. She
is working on getting three bids. The firm that does Sunward’s reviews
would charge $1800 plus additional hourly fees for questions.



MONKEY: Ask Mary if the price is unusually high because it’s the first
time.



We think the Bylaws require us to do the review annually, so it will be
important to get a handle on this cost for the budget process. We only
budgeted $500 this year for this.



We’ll await further info.



6. Jobs for next work season – due July 12



Good to have continuity on F&L because of the ongoing nature and
confidentiality of the work.



Convener: Aaron – keep at 4 hours

Finops jobs will be rotated this time around:



Bookkeeper: Carl

Check depositing: Kathy

Check writer: Elph



Elph has done check writer before and is willing to give it up, but Carl
requested that for his first season as bookkeeper, we maintain stability in
the supporting positions so he can be trained. So we’ll keep Elph in this
job for another season. Having three people who know all three jobs really
well is a good idea, particularly for financial work that requires expertise
and a high level of accuracy. Elph is willing to step out after next work
season and then we can recruit a new person to enter the mix.



Counted members – we want to keep some continuity here, so we want to
pre-assign these jobs. Keep at 4 hours at least for the fall season. We
still have a big backlog of tasks to get done.



Cher

Carl

Amy

Mary ready to step off



Steering Rep: Cher



Document Organizer: MONKEY: Aaron has sent a check-in e-mail to Gail to
see if she’d like another season to complete this task.



MONKEY: Amy will submit hours to Work Com after we hear back from Gail.


7. Next meeting: Monday, July 12
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