Finance & Legal minutes: 2005-08-22

Minutes:

[[FinanceAndLegalMinutes]]
Date,: August 22nd, 2005. location: Tracy's house (unit 28)
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Minutes by: Adi

= Agenda =

* steering report
* finops and bookkeeper's report
* reimbursements versus credits
* master deed changes packet
* team description / mandate
* late payment procedure (wiki, do we have empowerment for this?)
* info on web-based Quickbooks
** feasibility of credits-based reimbursements vs. checks
*** would this have to be all or nothing? would it be messy?
* community-wide financial report (6 month review)

= Minutes =

Next meeting: September 12 at a cat-free place, CH Sitting room and
Jim or Judith will take minutes

Attending: Tracy, Willie, Judith, Bill, Adi, Dale

== Republic Bank Survey ==
MONKEY: Judith will fill out their customer survey

== Work allocation/preassigns ==

Since we would like rotation on jobs which have been filled by the
same member for a long time, and preference for FandL jobs will be
given to those attending FandL meetings, this is the current list of
preassigns:

Check logger - based on survey
Check writer - based on survey
Check depositer - Judith
General [[Bookkeeper]] - George
Member bookkeeper - based on survey

This is no comment on job performance or suitability! We just want jobs to
rotate so that people get a chance to do something else and more than one
person in the community knows how to do each job.

MONKEY: Adi will talk to Helen and KathyB about their FandL jobs

== Steering report ==

There might be some legal work due to the TS/GO joint garage roof that
is likely to be built soon. JD will tell Steering what the legal
opinion is and likely GO will consult with a lawyer.

== Finops and [[Bookkeeper]]s report ==

George and Bill have prepared more detailed reports per committee with
Dale's help.

MONKEY: Bill will upload PDFs of the Monthly Profit and Loss reports
for 2005 and will provide the links via email.

[[Committee]]s who require more (transaction by transaction for example) will ask
finops for that level of detail.

MONKEY: Bill will follow up with the member bookkeeper on the issue of
the one household that is behind in their association fees.

== Reimbursements via checks versus credits ==

the number of transactions with reimbursements and checks is the same

we will try dealing with direct credits, so we need to do the following:

- add a check box to the reimbursement form allowing for the option of an association fee credit rather than a check (Willie will check and change the job descriptions as appropriate to make sure the check writer prints out the reimbursement forms)

UPDATE! done and new form at: http://www.gocoho.org/documents/ReimbursementForm.pdf

- the check writer has to triage reimbursement forms and submit those asking for credit to the member bookkeper for direct credits

- the member bookkeeper's operation manual has to be updated to detail the procedure of crediting association accounts

MONKEY: Bill will figure out the operating procedures to make this
happen and let finance@gocoho.org know via email and update the
operations manual on the Wiki with the same

MONEKY: Willie will announce this new option once it has been
implemented

== Master deed changes packet ==

MONKEY: Willie needs to graft the membership changes and the garage ownership language Tracy has researched.

Tracy gave a primer about transferring garage ownership. The short summary:

- we have to add a list of units and the garages that are linked to them to the Master Deed

- the folks involved in the transaction have to let the association know and get the [[Treasurer]]'s signature before paying a lawyer to amend the Master Deed

== Soft copies of Master Deed and Bylaws ==

MONKEY: Adi will do the first two pages of the Bylaws and the Master
Deed and will let Willie know to figure out who would do the next few.

== team description/mandate ==

MONKEY: Willie knows what he needs to do to get this moving and he will do it.

== late payment procedure ==

the late payment procedure as adopted by FandL is an implementation detail of the collections process that the association has mandated FandL do. As such, the particular late payment procedure does not require to be explictly approved by the entire community.

== info on web-based Quickbooks ==

- 30-day trial, it can import our current books, but export requires
newest version

- Dale notes that Quicken is not a savory company, but he won't stand
in the way of an experiment

MONKEY: Bill to talk about trying this in a Finops meeting and choose
a date to enter all the info twice

== community-wide financial report (6 month review) ==

so a consolidated report plus a review versus budget is necessary.

MONKEY: Bill/Finops will let FandL know how they will do it.

Next meeting: Date: 9/12/05, location, and minute-taker