Finance & Legal minutes: 2021-09-28

Minutes:

9-28-21 F&L Meeting Minutes

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

1. 2022 Budget
* Any follow-up needed? There were no questions about F&L’s budget
request, but is there anything else that needs our attention? No.
* Even without the surplus, we’re at about where we were last year


2. Reminder to mark your calendars for our future meetings:
* October 26
* November 23
* December 21
* January 25
* February 22
* March 22


3. Bookkeeping updates
* Arrears - all good!
* Other - Patti’s closing date is supposed to be at the end of this month,
waiting. Patti will check in with the realtor about whether she should pay
her September association payment.


4. Ongoing items
* Zoning
* We will communicate the information we have to the community in January
* MONKEY: Becky G: 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?
* BG called and left a message - no response, will try again
* Rick said we should prohibit the creation of completely separate units
(per Becky G’s notes). This should be communicated to the community in
January.
* GO doesn’t have any liability if owners do this, it’s really between
them and the township. BG: in the lease template we have, it says this is
allowed. We should take that out. We have no ability or desire to police
this, but we should still let them know. This is not about whether people
can rent out their basement, it’s about egress.

* CH Offices
* Awaiting info from CH Com
* Should we keep tracking this? Important from a legal point of view.
There are two current tenants, signed leases are needed for 2022. Probably
not enough time to change the lease for 2022 because the GO’s attorney will
need to review and he’s been slow lately. They probably need to bring the
issue before the community.
* MONKEY: BG will talk with Gail.

* Unit Modifications
* Buildings Com has signed off on the Unit Modification Agreements draft
* Any further changes from F&L?
* One outstanding item: Fire suppression. If the unit owners
contract with the contractor GO specifies, it’s up to the owners to work
with them during the warranty period, then it’s on GO after that. See p. 3
of the document. Description of proposed modification. We need to add
fire suppression system here in a sub-bullet. - The language in the UMA
covers Becky’s concern.


* Buildings has asked us to remove some items. We went over the
document together and updated it. MONKEY: Debbi will fix the formatting
and then we can send it to Rick. MONKEY: Amy will ask Debbi to send it to
Rick.
* Next steps
* Is the next step to send the document to Rick for his review and
approval? No - we need to resolve the above items first.
* From last month’s minutes:
* 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, such as when some major changes are
added to the Reserve Fund.)
* Side conversation about how to define a modification. Is
a new closet a modification?

* Reserve Fund Investment Policy
* MONKEY: BG will ask the Credit Union for advice on trying a “CD
ladder” for new Reserve funds. Still planning to do this. A good winter
project after the budget is finished.
* 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

* Job Descriptions
* Counted Member, Admin Asst, & Check Depositor done
* MONKEY: Still need to do (Amy to remind relevant people): Internal
Bookkeeper, Convener, Steering Rep, Budget positions

* F&L Cooler Doc - finish reading through doc together, next step is to
prioritize

5. New Business

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: Oct. 26 @ 7 pm
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