Finance & Legal minutes: 2002-12-15

Agenda:

Reimbursement policy Budgets
Time (lists, hiring-out)
Money (need input from committees)
Insurance Investment policy LTCRF
Cooler (future agenda items): Propose discretionary fund process Set up book-keeping and billing procedures Contingency use prioritization process

Minutes:

"Got to attend the meeting to get the chocolate"

Minutes for F&L meeting, Sunday 12/15/02 Willie's house, 4 pm.

Attendance: Willie, Katie, Judith, Dale, Kelly (with cookies and chocolates)

Insurance --no contact back yet from the contacts Kelly had. She'll contact Sunward contacts to get some better leads.

Reimbursement policy --Katie handed out hard copies (same as over email). --For future, have 2 check signers over some threshold. --Sounds like all reimbursements need a receipt (can be handwritten--if so, has to have signature of person providing product or service), and all also need approval. This approval can be in the minutes of a committee, or hardcopy letter or email to the treasurer. Committees are responsible for managing their own budgets. Finance can only reimburse with approval from a committee and with a receipt, within that committee's limits. No pre-approval is necessary from a committee or the treasurer, but individuals are strongly urged to seek pre-approval to avoid not being reimbursed. Pre-approval guarantees reimbursement (with proper receipt), post-approval is possible but not assured (based on committee's approval & budget). --Committees should have a policy of noting approvals in minutes, emails (to a group), or other archival form. --Katie will send a revised version out to go-finance, then ask for time at the next meeting (not Monday) for introduction.

LTCRF investment We have a copy of a booklet from Sunward on this topic.

LTCRF Dale will send an email about LTCRF to design and see what their perspective is. (At steering, JD mentioned that Mark Chappell-Lakin might have slow periods over the next 6-9 months and could work on getting some of the data for us. Design also indicated a desire to have a rep from F&L at a meeting to learn more. They might be burned out on issues, but could try to recruit someone specifically for this task.)

Hours and Dollars Look for bad assumptions, How to refine this? Ask each standing committee to look at the budget and make recommendations. A budget summit? A contact person on each committee? Dale will send out an email about this. Point them to the game, but send them just the items that fall into their realm. Split into Buildings (CH, sheds, units) and Grounds (parking lot, trash, common areas--all not buildings).

Use a monopoly money approach for discretionary funding.

Next meeting time

Sunday January 5 at 4 pm at Judiths, 2743 Cumberland (off of Platt, S. of Washtenaw, right on Canterbury)