Finance & Legal minutes: 2021-03-30

Minutes:

Minutes of 3-30-21 F&L meeting

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


1. Monkey Review - in process unless otherwise noted; new Monkeys added
* BG will post the reserve study on the important documents page
* BG will check in with Mary about Reserve fund increases for the next four
years. We *might* have to make an adjustment sometime during this 5 year
period.
* Update: We need to get a handle on ways to increase the interest on
our reserve fund. Mary is checking with her financial advisor. We are
currently making next to nothing on money market funds. Mary’s advisors
want to know what our official investment documents say. At one time we
created a position to develop an investment plan, but it didn’t go
anywhere, possibly because our legal documents are too restrictive. Mary
hopes to draft something that could get community approval. At least for
now, the good news is that because we didn’t spend the amount of Reserve
funds that Paul Conahan thought we would, we have more money than he
expected, so we may not need to make an increase to our Reserve
contributions at this time. We’ll need more time to determine this.
* BG will tweak the Reserve spreadsheet with Willie and Katie’s unit
changes. DONE - They are starting to pay the new rate with the April
statement.
* BG will scan Willie & Katie’s signed Building Modification Agreement and
mail the original to be filed by the attorney - DONE - BG needs to needs
make sure he received them
* BG will update GOCA insurance policy once we have valuation of Willie &
Katie’s addition from the builder - IN PROGRESS: Insurance agent Susan
Rosales wants to meet with BG in April to go over these changes and any
other changes we want to make to make sure everything is up to date.
* MONKEY: Amy will check with Mary and Dale about their willingness to do
the budget jobs again this year - DONE - Mary and Dale accepted to do the
budget jobs
* MONKEY: Amy will check with Kathy Boblitt about continuing as check
depositor DONE - Kathy will continue
* MONKEY: Amy will ask how things stand with her work on gathering rental
agreements. - DONE - Kathy will serve in this role again for the coming
season.
* MONKEY: Sharon offered to draft two versions of Building Modification
Agreements (for Basements and Sunrooms/Decks), but it might not be right
away. IN PROGRESS - She’s about halfway through.
* NEW MONKEY: Becky needs to sign agreement for firm to do taxes only, not
a review
* NEW MONKEY: Amy will send a message to Talk to say Dr. Sharon
recommends waiting 2 months to change our cleaning and other protocols in
the CH.


2. Bookkeeping Updates
* MONKEY: Becky needs to sign agreement for firm to do taxes only, not a
review
* GOCA 2017 Agreement: Audit every three years, tax return only in off
years
* Reserve
* See Monkey above. Continued conversation with Mary over time.
* Arrears
* Everything looks good!!!
* Quickbooks is doing away with the app that makes it run better on a Mac
(and PCs also). Becky will have to use a browser interface; will see how
it goes.


3. Ongoing Business
* Jobs for next work season (May 1 - October 31)
* Mary and Dale will do the budget jobs again
* Kathy will serve as rental agreement assistant again
* Everyone else is continuing in their same roles
* Master Deed/Bylaws update check-in (Debbi) - still working on it
* Building Modification Agreements drafts (Sharon) - see above - in progress


4. New Business
* Common House usage
A recent email thread to Steering raised the question of whether we need to
keep sanitizing the CH now that we know that surfaces are not such an
important way in which COVID-19 is transmitted. Syndallas suggested in the
email thread that we consult with our attorney and our insurance agent if
we are going to deviate from any current government guidance about COVID-19
safety protocols in the CH
* Dr. Sharon said she doesn’t think we need to be spraying down things
the way we have, but the timing is terrible right now because COVID numbers
are going up. It would be great to be able to pull the sanitizing jobs out
of the work system. But we would want to have them back on the job if
someone gets COVID. It’s just not the right time to stop doing this. In
two months the Work Committee could reevaluate. Sharon said that the
vaccine is working. People who are 70 and 80 who have the vaccine - their
numbers are going down. We just need to be patient.
* NEW MONKEY: Amy will send a message to Talk to say Dr. Sharon
recommends waiting 2 months to change our cleaning and other protocols in
the CH.


5. Review and update F&L Cooler Doc
* We nearly finished going through the list at a fairly high level. Some
things we were able to remove because they were done, but we recognized
that we can probably never get this whole list done. We’ll need to
prioritize at least in part based on the consequences of not doing each
item.


6. Next meeting: TUESDAY, APRIL 20 - Schedule next work season’s
meetings then
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