Finance & Legal minutes: 2011-01-24

Minutes:

Minutes of Finance & Legal Committee Meeting

1-24-11

Present: Aaron, Peter, Mary, Amy

1. Proposal to roll over funds from 2010

F&L’s proposal to roll over $2000 from the F&L Committee’s 2010 balance for
professional fees in 2011 was approved by the community. We anticipate
several more proposals in the coming months, as we work on the Master Deed,
revised committee mandate, and a proposal on how to spend Reserve Funds when
not exactly according to the Reserve plan.

2. Grounds Proposal

The Grounds Committee wants to bring forward a proposal similar to the F&L
Rollover request for the truck bed replacement fund. They would like to
spend this money in 2011. This is for a very specific purpose, for a set
cost, and they have the amount they need.

Should Grounds bring it forward or should F&L? It could go either way. It’s
more in keeping with our history for Grounds to bring it forward, but in
future, if F&L’s role is defined somewhat differently after we rework the
F&L Committee mandate, maybe this would be handled differently.

MONKEY: Amy will get in touch with Katie to suggest a joint proposal at the
Feb. 21 business meeting.

As part of the presentation, we will review what Jim and Rod suggested at
the January meeting.

3. Annual Review

We will move forward with the Annual Review after Carl is finished with his
own review of the books, probably in March.

4. Reserve Fund

Carl is checking with Kathy Boblitt on final details about the truck roll
over balance. As soon as we have this, we’ll send it to Paul Conahan to
finish the study.

MONKEY: Carl and Aaron will meet to make sure that the individual
assessments are correct.

5. Community Document Storage

Peter talked with Elph. Peter is going to get himself involved in the
conversation that Elph and others are having about a digital solution to
document storage. He will ask to be part of a subcommittee. We noted that
some signed documents need to be saved as hard copies and some community
members are not comfortable using digital storage, so a hard copy storage
component is also needed.

6. Master Deed

We decided to put off the F&L Mandate discussion until we’ve tackled the
Master Deed issue. Both the Master Deed and the Bylaws will inform F&L’s
mandate.

The Master Deed is 13 pages long and has amendments.

We should read and understand the Master Deed well enough so that we can
work knowledgeably with the lawyer. We discussed the possibility of having
a special meeting to discuss the Master Deed changes with all interested
community members.

The Master Changes agreed to in 2005 by F&L:

1. New member requirements

2. Refine LCD/LCE definitions

3. How to sell a garage

We spent some time looking at the Master Deed document and its amendments on
the WIKI and labeling them more clearly.

We are going to be creating at least one new amendment. We don’t know
whether there will be a separate amendment for each item, or whether they
will be bundled together in one amendment.

Our next step will be to tell Keast what we want to do, he’ll ask questions,
etc. and well go back and forth until we’re done.

But we think we need to convene a meeting of community members to make sure
we have input from everyone who has an opinion about this.

Goals: To appropriately amend our documents to reflect the above content.

1) Next order of business is to get clear community agreement on the
content.

2) Give it to Keast. Done.

We want as many people as possible to help us craft the content, but we’ll
let the attorney inform us of the process.

MONKEY: Aaron will ask Adi for help finding 2005 comty agreements if there
are any.

7. Insurance on shared garage building

Amy nudged Barb Young about the questions that came up at our last meeting;
waiting on reply.

8. Next Meeting

Feb. 14 at 7:30 pm
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