Finance & Legal minutes: 2007-08-27

Minutes:

Finance Cmtee Meeting 08/27/07 Minutes (revised to include george in present
list)
present: adi, nancy, emily, tracy, elph, george

Agenda
1. Next steps on getting ready for Master Deed change submissions
2. Financial Reports
3. Positions for next year
4. Grants from EPA
5. 501(c)3 within Great Oak
6. child-safe screens lower insurance premiums

1.
One thing to get clear on is whether to do the chart into prose
Adi will get the latest copies of the master deed changes together and bring
to the next meeting

2.
Some underspending going on. Can be seen as an indicator that committees are
not doing the projects they had planned on doing. Grounds is a good example,
but some additional projects/money can be accomplished in the Fall.

The aging receivables is down by half and four of the five households behind
have done payment plans.

3.
Kathi is going to be the check writer again. She is entering directly into
Quickbooks, which is good. Depositor will be doing that in a cycle or two.

4.
Emily has found some potential grants from the EPA and will review likely
candidates with the F&L Cmtee.

5.
What about doing a 501(c)3 within Great Oak?
Ok, gotta be educational or charitable, gotta serve people in some way...
why do it? not a lot of tax obligation that we have to avoid ($300).
Some discussion was had.

6.
Emily will go to Buildings to discuss getting child-safe screens as a way to
reduce insurance



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