Finance & Legal minutes: 2014-11-24

Agenda:

Check-in on ongoing projects
Accounts receivable
Planning for an audit
Review and prioritize F&L to-do list - tabled

Minutes:

Present: Becky, Debbi, Keith, Amy

1. Check-in on ongoing projects:

a) Reserve Study: Becky reported that the CH Com may replace a dryer
sooner than is in the current reserve plan. If they decide to do so, we
will need to let Paul Conahan know to make this adjustment to the numbers
he is working with for the Reserve Study.

At our last meeting, we wondered whether the spreadsheet we have
still incorporates all of Carl Hanna's formulas, and whether it has been
changed much since Carl created it. We heard from Adi that as far as he
knows, all of Carl's work is still in the spreadsheet we have. Only new
tabs have been added.

b) CH special assessments: Len called late Friday to say he had done
his part, and turned over the remainder of the task to Susan to finish
setting things up in Quickbooks so that people can start paying early on
their CH special assessments. Susan will contact Becky to explain how it
should be implemented. Becky expects to be able to send out an
announcement the first week of December letting folks know that anyone with
a CH special assessment can start paying extra then.

We talked more about the special assessments. Mary was not able to join us
tonight, so we'll circle back to her, and prepare rough draft of a proposal
to give the comty something to respond to, and bring it forward as a
discussion piece at an upcoming meeting.

c) Recording garage ownership: Syndallas has done some research and is
ready to discuss it, but was not able to make it to tonight's meeting. Amy
will find out if she can come to the next meeting.

d) Improving transparency and security of financial information and
access: Becky, Kathy, and Amy will go to Old National Bank on Saturday to
sign paperwork to change our CPA Len Pytlak's online access to our
accounts. He will be authorized to receive statements from the bank
directly, but he will not be a signer or have online access to the
account. Becky reported that other former United Bank and Trust customers
are giving Old National a lot of flack about charging a fee for read-only
access to the account, so a change may be coming.

e) File cabinet: Keith moved Becky's 4-drawer file cabinet into the CH
from behind her house and put in a lot of time cleaning it. He has not yet
ordered the hardware to make it lockable. Keith will ask CH Committee
where they would like it to be: in the Sitting Room or in the coat area
where it currently is located. Gail would like to have the old 2-drawer
one for the archives.

2. Accounts receivable

Debbi has not heard from the second household with significant debt to GO,
so we will go ahead with placing a lien, as well as updating the existing
lien on another household. Amy sent Debbi and Becky the specific
information that our attorney David Keast needs to write up the lien
documents.

3. Planning for an audit

Becky asked Len via Susan for candidate auditors, as well as for
information on what we will need do to prepare for an audit.

4. Review and prioritize F&L to-do list - tabled

5. Matters arising: none

6. Next meeting: December 8 at 7 pm