Finance & Legal minutes: 2021-08-31

Minutes:

8-31-21 F&L Meeting Minutes


Present: Sharon, Debbi, Becky H., Amy, Kathy B.


1. Kathy Boblitt joined us to discuss F&L Admin Asst tasks
* Landlord leases
* Kathy has copies of all of the GO leases except one, all are using the
GO template. She’ll make another attempt with the one last unit
* MONKEY: Kathy will ask Becky if she has a place to store them? Hard
copies can go in the file cabinet in the GO file cabinet; Kathy also will
ask Becky for combo.
* Unit Modification Agreements (still in review)
* When the UMA is finalized, Kathy will approach owners to ask them to
complete UMAs for the unit changes they have made. Our attorney says we
can’t enforce this, but at least owners will hear that they are responsible
for repairs and replacements to the modifications they have made. (There
are some exceptions, when some major changes are added to the Reserve Fund.)
* Side conversation about how to define a modification. Is a new
closet a modification?


2. Looking ahead
* Proposed 2022 budget planning meeting schedule distributed by Mary:
* Mon 9/20 - BUDGET MEETING - Intro to the full budget, committee by
* committee
* Wed 10/6 - regular meeting, potential budget too
* Mon 10/18 - BUDGET MEETING- including surplus
* Wed 11/3 - regular meeting, potential budget
* Mon 11/15 - BUDGET MEETING, potential DECISION
* Wed 12/1 - regular meeting, potential budget
* Mon 12/20 - regular meeting, BUDGET DECISION if needed
* Jobs for next season - Amy has updated
* Job descriptions - please review and suggest edits for your job.
Committee members were asked to update theirs and to note next to their job
title when they are done with their edits.
* MONKEY: Amy will reach out to Becky G., Mary, and Dale to do this as
well.
* Set future meetings (October - March) - done - most are fourth Tuesdays
at 7 pm, one exception to avoid being close to Christmas.
* October 26
* November 23
* December 21
* January 25
* February 22
* March 22


3. Bookkeeping updates
* Workshop loan has been paid off!!!
* Budget reports went out so committees can prepare their budget for the
9-20-21 budget meeting
* MONKEY: Becky will calculate surplus for 2020.
* Arrears - look good!


4. Discuss F&L’s budget for 2022
We discussed the budget but did not have enough information without
Becky G. on hand to provide
knowledgeable insights on whether to make any changes, even if small. We
again appreciated that the
workshop loan had been paid off!
MONKEY: Amy will ask Becky G. for input on any recommendations for
changes


5. Ongoing items
* Zoning
* When do we want to share information with the community about this
topic?
* Do this first regular meeting in January after budget - Amy will
put on calendar
* MONKEY: Amy will ask Becky G. if she asked Rick about this: Rick is
looking into whether we should change the rental lease template we provide
to landlords regarding access to interior means of egress - any update from
Rick?
* Rick said we should prohibit the creation of separate units (in Becky
G’s notes). This should be communicated to the community in January.
* CH Offices
* Awaiting info from CH Com
* Unit Modifications
* Buildings Com reviewed the Unit Modification Agreements draft
* They have signed off
* MONKEY: We need to review one more time - for next meeting
* Reserve Fund Investment Policy
* MONKEY: BG will ask the Credit Union for advice on trying a “CD
ladder” for new Reserve funds.
* MONKEY: Awaiting Mary’s return to A2 to invite her to meet with us to
discuss
* Master Deed/Bylaws update check-in (Debbi)
* New goal: done by 18th of September, will send to Sharon
* F&L Cooler Doc - finish reading through doc together, next step is to
prioritize


6. Old Monkeys
* 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
* Sharon will read Debbi’s Master Deed/Bylaws draft


7. Next meeting: Sept. 22 @ 7 pm
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