Finance & Legal minutes: 2014-07-28

Special Notes:

Quickbooks is fixed!

Agenda:

Quickbooks update and related items
2013 taxes
Solar Hot Water loans
Savings account / end of year balances proposal
2015 Budget process timeline
2015 Reserve Study
Special projects: CH loans update, Reserve Fund Investment Policy
Matters arising: review of water bills

Minutes:

F&L Meeting Minutes 7-28-14

Present: Becky, Keith, Amy

1. Quickbooks update and related items

1. Quickbooks is fixed! Because it's so late in the month, statements
won't be sent out until August. People should pay their July association
fees as usual. Susan will set up the August statements to show activity
since April so people. There will be fees for guest room and truck usage.

2013 taxes Our return is on our CPA Len's desk, and Becky will check in
with him on Wednesday to remind him that this is a priority for us.

Solar Hot Water loans Becky met with the member who has been very
concerned about this issue. Becky cut a check for this them for 2013. This
issue is on hold until the 2013 Taxes are done and then Becky can get the
2013 numbers and use them to update the proposal. Becky hopes to bring the
proposal back for a decision at the August business meeting, but she will
be away for about 10 days in early August, and can't prepare the proposal
until Len finishes the taxes. If Len can't get the taxes done by next
Wednesday morning, we'll have to bump the proposal to the early September
meeting.

Savings account / end of year balances proposal, Becky hopes to bring
this to the community as soon as possible. This is separate from but
related to the budget process. It would be great if it could be brought to
two meetings and consensed on before the end of the year.

2. 2015 Budget process timeline Amy will follow up with Mary, who will
lead the budget process with Dale's assistance. Our goal is to have the
budget consensed on by Thanksgiving, though we can spill over into December
if necessary.

3. 2015 Reserve Study Paul Conahan is available to start working on our
Reserve Study in August. It would be helpful if we were able to let the
community know how this is going during the budget process and to be able
to alert the community if we see any likely changes to the monthly Reserve
fee per household for 2015. We will invite Paul to attend the August 11
F&L meeting to get things started.

4. Accounts receivable Tabled until Debbi returns.

5. Special projects

CH Loans update Becky sent the list of CH Loan holders to Mary. Amy
will check in.

Amy will check in with Elph about progress on the the Reserve Fund
Investment Policy, and with Syndallas about getting started on the garage
use ownership documentation project this fall.

7. Matters arising

Keith reviewed the water bills and everything looks fine, no apparent
leaks in any buildings.



8. Next meeting, Monday, August 11, 7 pm (Becky will be away.)
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