Finance & Legal minutes: 2018-09-26

Minutes:

Minutes of 9-26-18 GO Finance & Legal Committee Meeting

Present: Becky G., Debbi, Becky H., Amy, Sharon

1. Bookkeeping Updates
a. Arrears
• Becky H. has asked our attorney to remove the lien from the unit that has
paid in full.
• Becky G. will talk to another household that is behind. Due to special
circumstances, we approved waiving a limited number of late fees.

b. We received all of the money owed to GOCA at the time of the sale of
Anne’s unit #514). All of Ann’s regular fees and the shortfall special
assessment were settled at closing.

c. We’ll be writing checks and sending more reports than usual because it’s
budget time. September 3 was the date that Becky G. did the calculations
for the surplus and topping off the savings accounts. If a committee
spends between the time Becky did these calculations and the end of the
year, they won’t get extra money added to their savings accounts.

d. Becky found out that our primary contact, Jessica, has left our audit
firm. A new person has taken her place.

e. The tax preparers at our audit firm said they don’t expect our taxes to
go up under the new tax law.

2. We reviewed and reprioritized F&L's Cooler Doc:
https://docs.google.com/document/d/1_dmnNJmHmrwwFIfnscnRbPK-_8_kmahfFsOTn_fEvTY/edit

3. Marketing Committee concept about unit sales – Debbi sent an email to
the attorney to ask for his take on this.

4. 2019 Budget Process – quick debrief of first meeting

a. Rick told Becky G. he thinks the retainer we sent him in 2017 will be
more than enough for the Master Deed work.

5. Basement egress—discuss Rick’s responses to our questions, and next
steps – tabled, not enough time

6. Master Deed & Bylaws – Next step is Debbi will talk with Rick

7. Insurance – waiting to hear from Tiffany re: boardwalk. Still working
on it.

8. Ongoing items

a. Certificate of Occupancy issue - Has Debbi sent info to Mary, convener
of Buildings, and to Ted and Dale, who were very involved in construction
in the early days? Debbi sent a message today again.

b. Truck Proposal –Amy still needs to talk with Gayle Turner about the new
billing idea.

c. Buildings re: guidelines on digging. Amy wrote to Buildings on 9-23-18.
On the Buildings agenda for next meeting.

d. CH Com re: CH Leases and proof of insurance. Amy wrote to CH Com on
9-23-18 and sent links to the lease documents.

9. Next meetings: Weds. October 10 (no Becky H) and Weds. October 24
(Becky H. will be away until Oct. 22)

Cooler doc:
https://docs.google.com/document/d/1_dmnNJmHmrwwFIfnscnRbPK-_8_kmahfFsOTn_fEvTY/edit
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