Finance & Legal minutes: 2005-01-19

Special Notes:

Bookkeeper's summit

Minutes:

MONKEYS:

Elph:
* will find out about the current website hosting bill, and pass it off to memberhip.
* with Adi will figure out where the money that they're billing the CH is going. We seem to be confused with the bookkeeper that it's being paid already.

Patti:
* is going to figure out how much we should have been paying for the loan, and tell Helen to cut a check, etc.

Kathy:
* Ensure the procedure for bank re-submitting a check, and charging us $6 is down.
* Ensure that we have a procedure for when the bank returns a check to us. Kathy will look into the Quickbooks documentation for this one.
* Kathy will write / revise the job desciption for the member bookkeeper.

Willie:
* Someone should document the nitty gritty details of the various loans on the Wiki somewhere. Willie will take this on, and call the bank if he needs to.
* Willie will check-in with the LTCRF cmty for a status report.
* Willie will figure out printing with the "football".
* figure out a good backup routine for the "football".
http://footboot.net/rsync-win/
http://optics.ph.unimelb.edu.au/help/rsync/rsync_pc1.html
* write up job descriptions for bookkeepers and finops convener. BookkeepingGeneral

F&L:
* deal with the following 3 items: Loan origination fee ($1400), we borrowed $896 less than what we needed to cover, and the Contingency Shortage
* physically create a separate account for the LTCRF. We could open another account with Sunrise, and simply do a transfer.
* We should also be able to share the file on a network. Quickbooks sell add-on modules such that different roles can share the file over the network. Should we buy this software?
* We need some place for document storage. Perhaps a lockable filing cabinet.
* We should ask for contingency hours from someone who will help shepherd through the closing of the books, and the tax process.

finops convener:
* Someone will figure out how to add old, unrecorded records into Quickbooks.
* finops should deal with how are we going to figure out the end-of-year tax stuff? Adjusting expense items where the expenses straddle the financial year? For example, if the water bill is from mid-month december to mid-month jan.


Club Review:
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There was a mysterious $750 deposit to the association on 11/14/03, nobody knows where it came from. We don't have more information on this, and don't have a good idea where to take it, so we leave it.

Now that membership has budgeted for website hosting, Elph will hand over the bill to them when it comes.

MONKEY: Elph will find out about the current website hosting bill, and pass it off to memberhip.

Transfers from the club to the association:

There were payments from July-Oct in 2003. Quickbooks came on the scene on 11/1/03. The books should reflect the cost of the association, namely earlier than November, perhaps as early as July 2003.

We're talking about RevisedNotesFor72004Review, items g 2.01-2.13

MONKEY: Someone will figure out how to add old, unrecorded records into Quickbooks. Perhaps this is for the finops convener.

Perhaps we should just view the club as an account that's owned by the association. We should include 7/03-10/03 into Quickbooks, and treat it all as the association. Reconcile with the old statements.

Any financial records before July of 2003 is too

6 month review notes:
========================
http://www.gocoho.org/wiki/index.php?page=RevisedNotesFor72004Review

MONKEY: F&L should deal with the following 3 items:

Loan origination fee ($1400), we borrowed $896 less than what we needed to cover, and the Contingency Shortage

MONKEY: Patti is going to figure out how much we should have been paying for the loan, and tell Helen to cut a check, etc.

Go-Net is billing internet and phone for the CH & offices.

MONKEY: Elph and Adi will figure out where the money that they're billing the CH is going. We seem to be confused with the bookkeeper that it's being paid already.

Melisa's second phone line has been dropped. She has one line. Not an issue.

Insurance is paid up to date. In fact, we mistakenly paid too much. This isn't consistent, we've been doing this several different ways.

Do we have a returned check procedure? We turn around and charge the member.

MONKEY: Ensure the procedure for bank re-submitting a check, and charging us $6 is down. Kathy will do this.

MONKEY: Ensure that we have a procedure for when the bank returns a check to us. Kathy will look into the Quickbooks documentation for this one.

Patti has finished pre-paid CH loan.

MONKEY: Someone should document the nitty gritty details of the various loans on the Wiki somewhere. Willie will take this on, and call the bank if he needs to.

CH is budgeting for water & sewer.

We'll skip over 2/4/04 sunrise entry.

The garage electricity is being charged to the CH utility. One is much more than the others, probably because it has the parking lot light on it.

We may likely skip over the $30,917.74 - we're not sure about this, but it would pop out when closing, and it may be a non-issue.

MONKEY: F&L should physically create a separate account for the LTCRF. We could open another account with Sunrise, and simply do a transfer.

MONKEY: Willie will check-in with the LTCRF cmty for a status report.

March 2004 - garbage and recycling were separate items.

Windows charge was cleared up.

MONKEY: Willie will figure out printing with the "football".

Close out club dues.

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MONKEY: someone should figure out a good backup routine for the "football". We should also be able to share the file on a network. Quickbooks sell add-on modules such that different roles can share the file over the network.

MONKEY: We need some place for document storage. Perhaps a lockable filing cabinet.

MONKEY: finops should deal with how are we going to figure out the end-of-year tax stuff? Adjusting expense items where the expenses straddle the financial year? For example, if the water bill is from mid-month december to mid-month jan.

Only a few cases is this large, such as insurance. This can balance out over time, but

MONKEY: We should ask for contingency hours from someone who will help shepherd through the closing of the books, and the tax process.

MONKEY: Willie will write up job descriptions for bookkeepers and finops convener. BookkeepingGeneral

MONKEY: Kathy will write / revise the job desciption for the member bookkeeper.