Finance & Legal minutes: 2012-11-12

Minutes:

________________________________

- reserve fund spending and investment policy -- prepare for
presentation for 11/19 Community meeting -- the key question for the
community is whether collectively we prefer possibly large jumps every
3-5 years when we do reserve updates or a fixed per year increase

we will bring an informational item about the reserve (spending so far,
planned for the next year etc.) to this upcoming committee meeting as a
beginning of the conversation


Are you planning to bring this informational piece to the 11/19 community
meeting?

If so, how much time do you want and who will present?

- discussion of any items after Len's presentation on Saturday

need a discussion about rebates within F&L and based on that write a
proposal to the community about why to or not to provide rebates in the
following year (vs. the 2nd following year, or use it differently --
FWIW Sunward contributes HOA due excess to reserves)

- we will decide on preassignments etc. at the next F&L meeting for next
season's jobs

END

On Sun, Nov 11, 2012 at 09:55:38AM -0500, R.P. Aditya wrote:
> All are welcome to the F&L meeting in the GO CH sitting room tomorrow at
> 7:30pm.
>
> Tentative agenda:
>
> - placing liens on households behind over $1000
>
> - reserve fund spending and investment policy -- prepare for
> presentation for 11/19 Community meeting -- the key question for the
> community is whether collectively we prefer possibly large jumps every
> 3-5 years when we do reserve updates or a fixed per year increase
>
> - discussion of any items after Len's presentation on Saturday
>
> postpone Master Deed update discussion to when Aaron can be present,
> likely in the new year after his leave
>
> Adi
>
> On Mon, Oct 08, 2012 at 08:50:39PM -0400, R.P. Aditya wrote:
> > - bookkeeper's report on arrears etc.
> > -- HOA arrears collection from owing households
> >
> > 2 households are pushing against the $1000 threshold and Becky will warn
> > both households that a lien will be placed unless they pay
> >
> > 1 household who owes $9K+ has fallen behind again in their monthly
> > payments; plus the one CH office rented by their household is also
> > behind by 2 months rent -- at the next F&L meeting we will set a
> > timeline with concrete steps to address the case
> >
> > - placing a lien on the one unit under foreclosure currently
> >
> > GOCA has received a notice of foreclosure on one unit; that unit will
> > cross the $1000 threshold in November if they do not pay their HOA dues
> > any longer -- do we add the "CH assessment" amount to the lien? we will
> > bring that discussion to the community
> >
> > - any new information from CPA about how many years of GOCA federal
> > taxes we have to amend?
> >
> > we are going to arrange a face to face meeting with the CPA to get our
> > questions answered
> >
> > - possibly 2013 operating Budget matters?
> >
> > Becky will communicate with Mary to update the tax arrears payment out
> > of rollovers proposal to say that the insurance deductible rollover be
> > the last to be taken from and the first to be replenished in case of
> > money left over since we don't have any other clear mechanism to add
> > money to that rollover in 2013. If there is no money left over, we will
> > use the 2014 budget to collect money for the insurance deductible
> > rollover.
> >
> > - we need to notify the community that money that renters owe to GOCA
> > (guest room or truck fees typically) or meals, will go on the owner's
> > association statement if the renter leaves without paying. The
> > relevant section from our Bylaws:
> >
> > http://gocoho.org/boa/?id=agreement&num=70
> >
> > ARTICLE IX
> > LEASES
> >
> > 1. Notice of Leases. Any co-owner, including the developer, who desires
> > to rent or lease a condominium unit shall inform the association in
> > writing at least 10 days before presenting a lease form to a
> > prospective tenant and, at the same time, shall give the association
> > a copy of the exact lease form for its review for compliance with the
> > condominium documents. If the developer proposes to rent condominium
> > units before the transitional control date, it shall notify either
> > the advisory committee or each co-owner in writing.
> >
> > 2. Terms of Leases. Tenants and non-co-owner occupants shall comply with
> > the provisions of the condominium documents of the project, and all
> > lease and rental agreements shall state this condition.
> >
> > 3. Remedies. If the association determines that any tenant or
> > non-co-owner occupant has failed to comply with the provisions of the
> > condominium documents, the assoc

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