Finance Committee Meeting
May 21 2018
Taften, Thomas, Julia, Corey in attendance
Members in Arrears
It’s now one sheet, and just over $11k -- thank you Corey and neighbors for your determination and hard work here!
Payment plans are now in place for all member residents
What happens when a payment plan is defaulted on?
In June, if any of the existing paymnt plans are defaulted on, general direction is to write up a Demand for Payment notice and deliver that to the resident
Keeping the lawyers information & data on retainer
What date in the month is a payment plan due?
5:00 PM by the 5th of the month, then again by 5:00 PM by the 15th month
Two “gates” per se during the month, expectation is that there will be communication on member in arrears
How long should a member be off arrears to be considered “in good standing”?
Copied verbiage from the Payment Policy
Any member who cannot pay their carrying charges by the 5th of the month must submit a written Payment Plan instead, that describes how and when the carrying charges and any additional fees will be paid in full, to result in a zero balance by 5:00 pm. on the last day of the month. If a Payment Plan is received as stated, all late fees will be waived, except for a one-time $15 payment plan fee. The carrying charges and all appropriate fees must be paid by the end of the month.
Edward Jones Investments
What direction/decisions do we want Drew to express to Tenner?
When to have them paid out?
General direction is to slate Edward Jones for cooperative building expenditures
Next Finance Meeting: June 19, 2018 at 7 PM Central, right before the board meeting