Finance & Legal minutes: 2008-09-08

Minutes:

Attending: Elph, Dale, Aaron

Finance reports:

September balances--
Checking account: $54,200
Reserve: $53,600 (5 yr CD), $49,000 (money market)
Workshop account: $15,900
CH/Garage/truck loan balance: $106,000

(June: $100,1500 checking (some moved to reserve later on); $49,000
reserve, $24,600 workshop)

Accounts receivable: $5,100 owed more than 30 days, by a total of 4
households. $22 31-60 days, $1,100 61-90 days, and $2,870 91 days
and over.


Review of Monkeys:

Elph--had monkey to revise reimbursement form to minimize problems
with forms being given to the wrong person (meals vs. general GO
reimbursements). Is still working on it.

Elph--Continuing to convert bill paying to automatic payments when
possible. Now about 75% of our recurring bills are paid
automatically.

Ongoing projects:

Emily is heading the project to get our LCE/GCE issues clarified from
our Master Deed. One avenue suggested by a lawyer is that we make
the changes in our bylaws instead.


New Monkeys:

Elph will create a web page with the outstanding projects. (See wiki
page:
http://www.gocoho.org/~gocoho/wiki/index.php/FandLCurrentTopics )

Elph--will get in touch with David Pratt of Citizens Bank to get more
details on a possible loan. Our current CH/garage/truck loan is
coming due this fall. (Citizen's Bank bought Republic, the original
holder of our loan.)


New Business:

Discussed how to modify the monthly report to more accurately reflect
the association's actual budget (cash vs. accrual).


Next Meeting: 4th Monday of September, at a new time, 8 pm. Aaron
will take minutes.