La Reunion Cooperative

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===== Finance =====

==== Due Dates, Late Fees, and Financial Standing ====

  * Dues are to be deposited on or before the 7th of the month, or they are considered late.
  * If a member's dues are late and more than $100 is owed, they will incur a $10 fine on top of their dues. The fine will be assessed on the 8th of the month. <sub>[[:meetings:archive:2023-03-12#agenda_item_1|[HM 3-12-23]]]</sub>.
  * If after the 15th of the month a member still owes more than $100, they will incur a second $10 fine on top of their dues. This fine will be assessed on the 16th of the month. <sub>[CHEA Contract]</sub> <sub>[[:meetings:archive:2023-03-12#agenda_item_1|[HM 3-12-23]]].</sub>
  * Late fees accrued on any unpaid debts while a member is in a hospital, including a psychiatric hospital, shall be waived <sub>[[:meetings:archive:2015-10-04#agenda_item_4|[HM 10-4-15]]]</sub>.

<sub>[[:meetings:archive:2013-04-21#move_to_adopt_the_following_policy_for_membership_dues_gatlin|[HM 4-21-13]]]</sub>

If, on the 16th day of a month, a member is overdue on an amount greater than $250, the member has fallen out of good standing with the coop and is considered "Not in Good Standing" (NGS). In order for the NGS member to return to good standing, one must contact the [[:documents:officers#bookkeeper|Bookkeeper]] and reach an agreement on a payment plan. The [[:documents:officers#bookkeeper|Bookkeeper]] may also reach out to NGS members to assist them in returning to good standing. The $250 limit goes into effect July 1st, 2023. <sub>[[:meetings:archive:2023-03-12#agenda_item_2|[HM 3-12-23]]]</sub>

If, by the 21st day of the month, a payment plan agreement is printed and signed by the NGS member, or the amount due plus any late fees have been paid in full, the member returns to good standing. Otherwise, the member is to be given a notice to vacate. A member who has violated the terms of a payment plan agreement is also no longer in good standing and is to be given a notice to vacate. The [[:documents:officers#bookkeeper|Steward, Treasurer or Membership Coordiator]] must post the notice to vacate and also announce its occurrence on the official coop mailing list by the end of the 26th day of the month.

An notice to vacate given to an NGS member for financial reasons may be rescinded by one of the following means, before the time limit to vacate (as written on the notice) has expired:

  * The NGS member pays the overdue amount in full, including any late fees.
  * The NGS member becomes current for the month on a payment plan agreement that was signed before the notice to vacate was posted, meeting all terms found in the agreement.
  * The NGS member brings an agenda item to a Sunday [[:documents:manual#house_meetings|house meeting]] proposing the rescission of the notice to vacate and (if applicable) alternative payment plan, and the proposal is accepted.

<sub>[[:meetings:archive:2014-09-14#agenda_item_3|[HM 9-14-14]]]</sub>

On the 21st of the month, Associates with an outstanding balance of over $100 shall have their Associate Membership Contract terminated.

Any member who leaves the co-op not in good standing cannot sign a new contract until they have returned to good standing <sub>[[:meetings:archive:2015-08-02#agenda_item_3|[HM 8-2-15]]]</sub>.

Fines for infractions committed by a member in a single month (late payments, no-shows, etc.) shall be capped at $75. This does not include bounced check fees or recompense for coop property loss or damage. Over $75 in fines may still be levied in a single month so long as a single month's infractions do not account for more than $75 of the total amount levied. Members may request past fines be reduced to $75 per single month's infractions. Such requests must be sent to the house treasurer.<sub>[[:meetings:archive:2018-09-19#agenda_item_1|[HM 9-23-18]]] [[:meetings:2021-12-12#agenda_item_1|[HM 12-12-21]]]</sub>


==== Payment Plans ====

Payment plans may be offered to or requested by residents with outstanding balances as a means to pay off their debt over a period of time and avoid potential eviction. Such agreements must be signed by both the resident, and the Bookkeeper, Treasurer, or Steward on behalf of the house.

  * Debts covered by a payment plan shall not accrue any new late fees.
  * Scheduled payments made as part of an ongoing payment plan are **in addition**  to the resident's monthly rent.
  * Residents are expected to make payments in full and by the exact date as outlined in the signed payment plan. Failure to do so shall be considered a violation of the payment plan agreement and a notice to vacate shall be issued.

Officers shall not be permitted to authorize, without house approval, a payment plan:

  - For any person already on a payment plan.
  - If the payment plan would extend past the end date of a resident's lease.

<sub>[[meetings:archive:2015-11-15#agenda_item_1|[HM 11-15-15]]]</sub>

==== Turning in Receipts ====

When you purchase something for the coop, write the following on the receipt, then take a picture and email it to expense@lareunioncoop.org. [[meetings:archive:2020-04-05#agenda_item_4|[HM 04-05-20]]]
  * Your Name/Initials
  * One of the following categories:
      * Food
      * Kitchen Supplies
      * Maintenance
      * Tech
      * Office
      * Legal
      * Utilities
      * Grounds
      * Outreach
  * Check number (if applicable)

If one receipt has two categories, write the breakdown on the receipt for each category.

This policy is to be on display above the rent/receipt box in the commons.

A member may receive an expense reimbursement from the house only after all receipts are turned in and both the treasurer and the expense bookkeeper have approved.

<sub>[[meetings:archive:2015-03-15#agenda_item_5|[HM 3-15-15]]]</sub><sub>[[meetings:archive:2015-03-22#agenda_item_2|[HM 3-22-15]]] [[https://www.lareunioncoop.org/meetings/2019-09-01|[HM 9-01-19]]]</sub>


==== Reporting ====

By the final day of each month, the [[:documents:officers#treasurer|treasurer ]]and [[:documents:officers#bookkeeper|bookkeeper]] must publish the following statistics on the mailing list and in the commons:

  * The names of residents delinquent on rent or delinquent on payment plans.
  * The date said resident's account was last in good standing, where "good standing" is defined as no amount being due while taking payment plans into account.
  * Total number of members on a payment plan.

Anyone current on their payment plan will not have their name listed.

Records of this data shall be retained, and shall be made available to members on request <sub>[[meetings:archive:2014-07-27#agenda_item_2|[HM 7-27-14]]]</sub>.

A member must receive a printed notice within 48 hours of being fined by the house if either:

  *

The member's email address is not on file in the house electronic bookkeeping system, or

  *

The member has informed the bookkeeper in writing that they prefer to receive physical notices.

<sub>[[meetings:archive:2018-09-19#agenda_item_4|[HM 9-23-18]]]</sub>

==== Eviction ====

If the time period of an eviction notice has expired, and the evicted tenant has not vacated, the [[:documents:officers#steward|Steward]] must announce this occurrence on the official coop mailing list the day of the notice period's expiration. The [[:documents:officers#steward|Steward]] or another member appointed by the [[:documents:officers#steward|Steward]] must also file an eviction suit within three business days following expiration of the notice period <sub>[[meetings:archive:2014-09-14#agenda_item_4|[HM 9-14-14]]].</sub>
La Reunion Cooperative

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