Finance & Legal minutes: 2017-04-26

Minutes:

GO Finance & Legal Committee
Minutes of 4-26-17 Meeting

Present: Becky G., Debbi, Amy

1. DEBRIEF DISCUSSION AT 4-17-17 COMMUNITY MEETING RE: F&L’S PRIORITY TASKS

· Passed the proposal for the audit rotation, but a friendly amendment
to remove a reference to updating the Bylaws.
· Becky G. presented F&L’s recent accomplishments, current projects,
and cooler list. Many questions were answered. The community did not ask
us to change anything about our prioritization, but does want to have input
into our insurance. Becky said that we will do that but noted there will be
a tight timeframe. We may have to purchase it and adjust afterward. One
person shared from work experience that there is more room to push back
than we knew we could, but we are not sure any of us has time or enough
expertise to do this.

2. INSURANCE
a) Inquiry about fireworks: Goodman Venegas forwarded questions from one
of the candidate insurance firms regarding our practices around fireworks.
Becky G. consulted with Debbi and sent a detailed response on 4/26/17.
b) Getting Rod up to speed as our insurance specialist. George got us
an extension with Michigan Millers until May 15. They are searching now for
a new policy for us. We will schedule a meeting with him and invite Sharon
if she is interested. May 1 and 5 look possible.

3. CH ASSESSMENT LIENS
Becky H. sent emails and letters to the eight households who have CH
Assessments to let them know that we would be filing liens and that about
$71 in fees would be charged to them. We gave them 45 days’ notice. Two of
the eight households have paid off their assessments rather than pay the
filing and legal fees! A third has said they will but we haven’t received
a check yet. We should ask Rick for a lower flat rate for preparing the
liens if these are paid off.

4. BOOKKEEPING UPDATES
a) 2016 Tax Return – Becky nudged Jessica yesterday and Jessica emailed
her the contract and the list of things she needs. Becky will get that
stuff over to her next week.
b) Arrears – we’re concerned about one household and will keep an eye on
this. If they don’t make a payment, they’ll go over the $1000 threshold.
c) Anything else?
a. When Rae and Tema sold to Emily and Terrence, Becky G. made sure
that they understood about the Shortfall Special Assessment. Emily and
Terrence decided to pay it off in full, so they are the only household that
has paid it off. Becky has given this information to Mary Swain and Helen
Simon as well for when that closing occurs.

5. MASTER DEED UPDATES – Debbi has started to review where things stand
and will have a plan written down and for our next regular meeting. We’ll
get back on track.

6. OTHER MATTERS carrying forward or arising
a. Amy will ask CH Com if they will be honchoing moving the filing
cabinet into the new CH Office.
b. Draft mandate for Buildings: we noted that this is a chance to ask
for clarity on things we’ve identified that overlap or fall between the
cracks with F&L. We will read the draft and make suggestions.
c. Yi-Miau asked if there were ways to protect the Reserve fund from a
lawsuit. Becky G. sent an email to ask our attorney for advice on this.

7. NEXT MEETING: Tuesday, May 9. The meeting will be an informal
orientation for new member Sharon Kardia. Amy will is looking for a
meeting room as CH Com is using the Sitting Room and Yoga will be in the
Game Room. Amy will be out of town.
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