Finance & Legal minutes: 2021-07-21

Minutes:

7-21-21 F&L Meeting Minutes


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


1. Looking ahead
* Jobs for next season
* MONKEY: Amy will reach out to Kathy B. to ask if she’ll continue as
Check Depositor and Administrative Asst for F&L.
* Remaining job holders will continue.
* Budget process coming in September: any preparation needed?
* MONKEY: Amy will reach out to Mary King about sharing the budget
process schedule with the community in mid to late August.
* MONKEY: Becky will calculate surplus for 2020. Taxes are complete
and submitted. (Note, we still have quite a bit of a tax credit from the
solar panels to help cover any taxes owed for the next few years of
returns.)


2. Bookkeeping updates
* Budget reports went out
* Arrears - everyone is caught up (one household is following their plan),
one household is behind one month, otherwise all is well.


3. Any new items? Crickets


4. Ongoing items
* Zoning
* MONKEY: Becky G. will reach out to attorney Rick Delonis to ask for
his assessment of whether GOCA’s landlord rental lease needs to be changed
given our new understanding of Scio Township zoning for GOCA.
* When we have this information, F&L will share what we’ve learned with
the community.
* Debbi has made a note to include among the Master Deed changes that
owners must comply with Township rules and policies, and that it’s not
F&L’s or GOCA’s responsibility to make sure that they do.
* We reviewed the existing agreement about Basement Egress related to
the new gravel pathway on the north side of the community
* http://www.gocoho.org/boa/?id=agreement&num=268\
We noted that the pathway has not turned out to be as easy to maintain in
winter as we had
hoped. A community conversation about this may be needed at some point.
* CH Offices
* Awaiting info from CH Com
* Unit Modification Agreement (UMA)
* Discussed and incorporated Debbi’s comments about Sharon’s draft Unit
Modification Agreement. Clarified that Buildings should approve the draft
UMA first, then pass along to F&L.
* Why would F&L need to approve? Examples: Liability around something
happening to what’s built. Changing footprint affecting LCE. Permanent
changes that increase the unit footprint could require Master Deed and site
plan revisions at the expense of the unit owner.
* F&L should be making copies of building permits and certificates of
occupancy. Since Buildings Com is involved, they should get copies also.
Better that both committees keep copies.
* Debbi has made note to include in the MD the requirement to make
copies of building permits and certificates of occupancy
* MONKEY: Amy will write again to Buildings Com to let them know
they and F&L should be keeping copies of building permits and C of Os.
Best to have both committees have copies. This was also recorded in the
Unit Modification document.
* Could this be added to Kathy’s F&L administrative role? Could she
check in w Bldgs regularly to find out if there are build-outs underway?
Wait until after Buildings Com has reviewed the document.
* MONKEY: Amy will ask Buildings Com to review the latest draft of the
Unit Modification Agreement.
* Let Buildings Com know that this would represent a change to an
existing agreement, the Interim Architectural Review Committee agreement of
2003. If we were being legalistic, we should do it as a revision to an
existing agreement.
* There is also an existing Basement Buildout Agreement that this
will supersede.
* Rick said it would be good to get everyone who built out their
basements in the past to sign the Unit Modification Agreement
retrospectively, but we can’t be sure everyone would agree to do this. Do
the best we can.
* It would be good to remind the community that if you build out your
basement, you’re responsible for it; it does not become part of the Reserve
fund. It is not the Association’s responsibility to maintain it.
* Note that there are still some disagreements around who’s responsible
if drywall covers pipes that leak or if a leak develops after the owner has
the fire suppression system lowered during a build-out.
* Reserve Fund Investment Policy
* MONKEY: Becky G. will ask the Credit Union for advice on trying a “CD
ladder” for new Reserve funds. Pending.
* MONKEY: F&L is awaiting Mary’s return to A2 to invite her to meet
with us to discuss the Reserve Investment Policy


* Master Deed/Bylaws update check-in (Debbi) - Debbi is very close to
finishing this. She’ll think about whether there are ways for the other
committee members to help. Hopes to get it done before she leaves on
vacation on August 12.
* F&L Cooler Doc - finish reading through doc together, next step is to
prioritize. - tabled








4. Old Monkeys
* No news: 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. Dependent on Investment Strategy.
* Amy will invite Kathy B. to the Aug 31 meeting to resume the unit rental
lease documentation project and Buildings stuff at same time
* Sharon will read Debbi’s Master Deed/Bylaws draft when ready


5. Next meeting: August 31 @ 7 pm
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