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meetings:2017-05-28

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May 28, 2017

Present:

Meet and Greet

Review of Minutes

Wiki Updates

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F T H​ E T

Agenda Item 1

(Russ) Kyle will be here to talk over some repair ideas to make our stairs safer, and answer any questions about time, materials, costs.

Agenda Item 2

(Anne) Review Financial Positions

Treasurer (3 hours)

  • Take a leading role in helping the house create an annual budget. Seek and encourage input from the membership. Create at least three options to propose to the house, by changing the amounts of the food budget, reserve fund, rent, or other variables as needed to provide some options to choose from. The budget should be based on comparisons of actual income and spending compared to the previous budget, and on the coop's income relative to the price of comparable housing.
  • Ensure the house follows that budget by keeping records of what spending occurs in what budget categories, and comparing the actual spending with the budgeted amounts.
  • Keep track of deposits, credits, money owed to us, and money we owe.
  • Ensure that deposits are made in time to pay all bills.
  • Pay all our rent and bills in full and on time.
  • Maintain an efficient and convenient bank account for the house.
  • Ensure that the account is as resistant to embezzlement as possible.
  • Answer financial questions from the membership. Encourage input from the membership.
  • Provide a public place for the filing of house financial documents. Ensure that all deposit slips and bank statements are filed in a public place within the house on at least a monthly basis.
  • When handing out checks, ensure that the person responsible for the check is named in the memo slot for accountability. Any checks that are lost or stolen can therefore be the responsibility of the person to whom the check was issued, so make sure that the carriers of checks are aware of this and take care of the checks they are issued.
  • Ensure that the house Spending Policies are followed.
  • Cash is never, ever to be accepted from any members. Ever. Cash has no paper trail and is far too easy to steal. Accept only checks and money orders.
  • Evict members who are overdue on rent and will not or cannot get on a payment plan.
  • Ensure that taxes are filed on time by working with other members of finance team to maintain accurate and up to date books. Be familiar with tax filing procedures.
  • Uphold the Open Books Policy. Upon request, show any current member the bookkeeping records, bank account statements, deposit slips, and any other financial information that is requested, including how money is spent and what members owe money, who is facing eviction, who is on a payment plan, etc.
  • Send out monthly Profit and Loss and Balance sheet statements and payment plan reports.
  • Write deposit return checks to members who are moving out, after being informed of the amount by the Membership Coordinator.
  • Communicate with the Labor Czar every month to ensure that labor fines are being assessed in a timely manner.
  • If a new Bookkeeper is elected during your term, help to train them.
  • When stepping down from the position, train the new Treasurer. Do whatever needs to be done to assist in removing yourself as a signor on the bank account. If you are moving out, your deposit will not be returned until you have removed yourself as a signor.
  • You are not allowed to be bookkeeper while you are treasurer or vice versa.
  • Our tax filing date is November 15. Help ensure that our tax return is filed well ahead of this deadline. This entails helping to ensure that the Treasurer compiles the necessary records and reports needed by our outside, independent bookkeeper by August 1st and CPA by September 15th.
  • Consult with external bookkeeper with reasonable requests regarding financial procedures.

Bookkeeper (Income) (3 hours)

  • Maintain Accounts Receivable bookkeeping system, tracking all charges to, payments from, and outstanding balances carried by La Reunion members.
  • Cash is never, ever to be accepted from any members. Ever. Cash has no paper trail and is far too easy to steal. Accept only checks and money orders.
  • Provide older financial data to members regarding their balances, upon request.
  • Update the Treasurer shortly after the 7th and 15th of the month on member’s overdue balance. Make sure the Treasurer is aware of any member that is falling behind on rent payments. Be aware of all payment plans, and alert the Treasurer if someone has fallen off their payment plan schedule.
  • Ensure that overdue member balances are sent to the Treasurer for the creation of a payment plan or, in extreme cases, eviction. Rent is due each month on the 1st, is late on the 8th, and is delinquent on the 16th. If a balance is over $100 by the 16th, send this person's balance to the Treasurer for action.
  • Enter all member late fees and labor fines into the accounts of members in the books, noting the date and purpose of the charge being entered.
  • Communicate with the Labor Czar every month to ensure that labor fines are being assessed in a timely manner.
  • Coordinate with the Treasurer to assist in depositing checks received into the appropriate bank account. Depositing checks is a responsibility shared by the Treasurer and Bookkeeper, and they should work together to make sure deposits occur in a timely manner.
  • Deposit funds from laundry machines.
  • Our tax filing date is November 15. Help ensure that our tax return is filed well ahead of this deadline. This entails helping to ensure that the Treasurer compiles the necessary records and reports needed by our outside, independent bookkeeper by August 1st and CPA by September 15th.
  • You are not allowed to be bookkeeper while you are treasurer or vice versa.
  • If a new Treasurer is elected during your term, help to train her or him
  • Consult with external bookkeeper with reasonable requests regarding financial procedures.

Bookkeeper (Expenses) (2 Hours)

  • Collect all Expense receipts and enter them into quickbooks and file them into filing cabinets located in the commons.
  • Scan all maintenance and grounds receipts. Create a report that lists the date, vendor, amount and whether that expense is part of a major maintenance project (a project that costs over $1000) or minor (less than $1000). Send the report and receipt scans to the treasurer and NASCO Properties executive director monthly.
  • Reconcile bank accounts
  • Our tax filing date is November 15. Help ensure that our tax return is filed well ahead of this deadline. This entails helping to ensure that the Treasurer compiles the necessary records and reports needed by our outside, independent bookkeeper by August 1st and CPA by September 15th.
  • When stepping down from the position, train the new Bookkeeper. If you are a signor, do whatever needs to be done to assist in removing yourself as a signor on the bank account. If you are moving out, your deposit will not be returned until you have removed yourself as a signor.
  • If a new Treasurer is elected during your term, help to train her or him.
  • You are not allowed to be treasurer while you are bookkeeper or vice versa
  • This position is not an officer position and may be held by a member, CHEA staff, or outsourced bookkeeping company.
  • Consult with external bookkeeper with reasonable requests regarding financial procedures.

New business

meetings/2017-05-28.1495826966.txt.gz · Last modified: 2017/06/28 18:05 (external edit)