Finance & Legal minutes: 2005-09-26

Minutes:

[[FinanceAndLegalMinutes]]
Date: Sept. 26th, 7:30pm
location: Tracy's (unit #28)
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Minutes by: Judith

* steering report
* finops and bookkeeper's report
* monkey review
* paying CDC and our CofO
* Status on transcribing master deed and bylaws
* [[MasterDeedChanges2005]]
** work out the wording for garage change
* Info on web-based Quickbooks
* Community-wide financial report
* LTCRF refinements (Tracy's survey)
* budget surplus / deficit proposal
* steering rep - Jim's term, replacement, and hours
* 2006 budget request

=== stuff that Willie would like us to accomplish before end of this work season ===
** contingency re-allocation - done
** get master deed and bylaws typed up - done
** get proposed master deed changes approved by community
** get truck loan figures ironed out w/ [[FinOps]]
** announce new "credit" option to community
** propose team description and mandate
** get LTCRF 2006 proposed
** budget surplus / deficit proposal - done

Next meeting: Date, location, and minute-taker

== Minutes: ==

Two "friendly amendments" to these minutes:

present: Tracy, Jim G, Dale, Adi, Willie, Judith, Bill (plus Seth,
Divya, and Kaelin)

Steering report: Graham - Why don't we have a CofO for the CH yet?
Jim and [[Elph]] are going to the Twp next week to find out. They will
report back to us.

- F&L recommends repaying CDC after the discussion with the Township [and
County?] re: the CofO for the Common House.

Finops and [[Bookkeeper]]s: Bill reports that we have the monthly reports
now. He still needs a copy of the Quickbooks files from the
bookkeepers. Something about a PDF. Dale is working on this as we
speak. No households are behind in association fees.
Monkeys for Finops: 2004 closing report and 2005 6 month report.

Paying CDC and our C of O: see above

Masterdeed/Bylaws: Willie has edited the whole thing and it is
availble. Changes to the bylaws may include a) new member requirements
b) LCE/GCE changes (chart is available)
c) We need to have a lawyer draft a template on how to sell a
garage. Once this is done,
anyone may use it to sell their garage.
d) change "Honey Creek" to "Touchstone"?????? not necessary

LTCRF: We are pleased with Paul's work. Perhaps for next year we will
refine our statistics by Unit size and walkout/non walkout.
Owner-added items may be made the owner's responsibility (eg sunrooms,
antique doors, extra skylights, etc). This may require changes in our
Master Deed.

Info on web-based Quickbooks: Monkey to Bill

Community-Wide Financial Report: also to Bill

Budget Surplus/Deficit Proposal: Graham studied what was scribed at
the meeting and made a new handout. Willie will present at the 10/5
meeting. Bullet points-
~we already have slush funds, don't need another
~households would prefer the refund
~we would rather pay for things as we get them/know what we're paying
for
~it's a cleaner process if we zero out the budget at the end of the
year

- F&L intends to keep the Budget Surplus / Deficit proposal recommending
that each year's budget be "zeroed out."

Steering: Graham's term ends in November. Willie will take up the job
in December.

2006 Budget Requests:
a) truck, CH, garage loan numbers need work (Willie)
b) Do we want to keep the "Annual Discretionary Expense/Community
Improvement" fund?
Let's drop it for 2006. If we miss it, we'll put it back in for
2007.
c) Operating fees remain in at $150
d) Professional fees remain at $1500
Dale, this is your email reminder to do these budget requests for 2006.

Stuff that Willie would like to accomplish:
a) truck loan - Willie will work it out (it's small)
b) Credit Option - Bill will check in with Helen and then announce it
to the community
c) team description/mandate ????
d) LTCRF: We are using square footage for 2006. We need to announce
new LTCRF fees to the
community (Tracy)
e) Budget Surplus/Deficit Proposal - Graham will ask for time on Oct.
agenda

Next meeting: Oct 10, 7:30, in the CH, minutes by Graham

adjourned at 9:10