Finance & Legal minutes: 2008-10-27

Agenda:

Finance and Legal Committee
10/27/08

Attendance: Elph, Dale, Aaron

Review monkeys and previous minutes

Minutes:

Revising the reimbursement form. Adi revised this just today--can
direct to Meals or the Treasurer. Nicer to print. Done

Converting bill payments to automatic--still working on. Elph.

Elph has not yet gotten in touch with our bank about the loan that
ends in March 09. Citizen's Bank. David Pratt.

Monthly report--adding an analysis. Elph did a mock up for
discussion. Elph will move forward in this vein. We also discussed
the actual current accounts receivables. Currently 7 households
behind at least two months, 4 are more than 4 months. Need to keep
an eye on this. By the way, Sunward has "sticks" in addition to
carrots. After two months, the household comes before the board of
directors. After 3 months they put a lien on the unit.

Dale will not bring a proposal about investment.

Elph has asked Paul Conahan to come to the Nov 10 meeting to talk to
us about an update to our reserve study.

Reserve (unit-by-unit elements) spreadsheet--Elph will email Adi and
Tracy to see if they have an updated version.

Updating the reserve study.
1. Do another physical photo survey. (done)
2. Send out questionaires to each household for changes since 2005.
3. Fix the procedure so ARC data gets passed back to F&L and
incorporated into reserve figures.
3.5. Collect the past ARC data. (Gail might have as archivist.)
4. Revise reserve elements per household.
5. Get input from each committee (Buildings, Grounds, CH, Workshop)
about any changes they think should be made to reserve study
assumptions.
6. Update the reserve figures.
7. Set a timeframe for revisiting the reserve study.


New Business
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Conversation with Sunward on liens and association fees. It seems
like GO is often paid last--Sunward has changed this to the
expectation that association fee is paid as a high priority.

We will think about the issue of how to deal with households that
have problems with meeting their association fees. Discussed options
(loans, relationship of time and money). Spreading out risk (e.g.,
prospero.com).

Dale will be moving to Work committee next work season.


Announcements
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None.

Adjourned at 8:50 pm.