Finance & Legal minutes: 2013-08-05

Minutes:

Attending: Sarah, Mary K., Elph, Kathy B., Keith G., Becky G., Adi

[the discussion was wide ranging and lengthy, I've distilled it to what
I think was the essence, but if others in attendence want to elaborate,
please do]

On Fri, Aug 02, 2013 at 07:42:07PM -0400, R.P. Aditya wrote:
> - threshold at which renters' GOCA balance will be moved to the
> landlords account

- Sarah to craft a proposal to the community about setting a threshold
for renter incurred fees before that balance is transferred to the
landlord's association balance. The proposal will also suggest a
mechanism on how to implement limits.

The current guideline F&L was using was $200, but we unfortunately
don't have the rationale of how we came up with that amount. This
upcoming proposal will correct that we hope.

> - 2010 taxes (yes, that is the tax year in question) review

We owe $5291 on taxable earnings in 2010 of $18317 -- I will send a
copy of the scanned, signed amended return to finance@ and send a
pointer to talk@ -- this should be the last of the tax arrears we
hope!

Discussion of how to deal with the closing of the 2012 operating budget

We have an operating surplus in 2012, however some
lineitems/committees were overspent. Unfortunately, after accounting
for the overspend, we have less than the total required to fund all
rollovers per the agreements.

Then, what is the priority of funding rollovers?

Becky will write a proposal to present to the community on how we
put money into the rollovers fairly after funding our shortfall.

Accounts receivable

We have two households in serious arrears and are falling further
behind.