Finance & Legal minutes: 2014-04-14

Agenda:

Accounts receivable
CH SDHW repayment proposal
Matters arising

Minutes:

Attending: Keith G., Debbi, Becky, Adi

Agenda

- accounts receivable

everything as expected, so nothing new

- alternative ways to pay out GO CH SDHW investments annually

Becky will prepare a proposal for the May community meeting.

- matters arising

Although we expect not to have to pay 2013 or 2014 federal tax due to
the Solar PV system tax credit, because the CPA is filing for a tax
extension we will make an estimated tax payment at least for the first
quarter of 2014 (Becky did this online already).

We expect that the IRS will refund back the taxes GO paid for 2013 (in
4 estimated tax payments last year) and any made for 2014 as part of the
Solar PV installation tax credit ($18K+) and not have to pay taxes
quarterly till the credit is wiped out (depends on how much non-exempt
income we have each year). The refunded money will be used to pay down
the note from the reserve that made the Solar PV installation possible,
so it will NOT be available for any other use :-)

End.