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Collings Lakes treasurer reports major legal fees and approves accounts; board accepts financial statements
Summary
Treasurer Beth Anderson reported association receipts and expenses at the Oct. 7 meeting, listing total receipts of $14,532.32 and expenditures of $26,971.33, including legal fees of $21,420.72; the treasurer's report and listed bills were approved by roll call.
Treasurer Beth Anderson presented a detailed accounting at the Oct. 7 Collings Lakes meeting. Income line items totaled $14,532.32, and listed expenditures totaled $26,971.33. The expenditures included legal fees of $21,420.72 (with an additional line for general counsel fees of $394.00) and reimbursements for prior legal-fee collections of $16,736.52. Account balances reported included $796,482.85 in the buckets agent account and $81,636.42 in a money market account.
Beth moved to approve the treasurer’s report and accounts-receivable report; motions were seconded and the reports and listed bills were approved by roll call. The board also listed vendor invoices for approval, including Atlantic City Electric and H & S Business Partners.
The treasurer noted upcoming election-related printing and postage expenses and that raffle ticket drawings will be conducted at the December meeting because ticket processing was delayed.
