Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Board discusses CPA bill, eliminated bookkeeper and target water fund of $100,000
Summary
Secretary/Treasurer Judy Mangrum reported a CPA bill of $1,375 and a $150 tax-extension fee; the board discussed leaning on QuickBooks and eliminating the CPA/attorney, and considered allocating past-due assessments to the water fund toward a $100,000 target.
Secretary/Treasurer Judy Mangrum presented a CPA invoice for $1,375 and said the association paid a $150 extension fee for taxes. She explained the association had eliminated a monthly bookkeeper who had been paid $1,200 per month and now incurs a one-time annual CPA cost. Members discussed whether the CPA and the association attorney are still necessary and whether QuickBooks could be used instead to prepare taxes.
Judy asked how to allocate receipts from past-due assessments; the minutes record a recommendation from Bill Springer to split the receipts 50/50 to the water fund and other uses. The minutes also show that at one point a $100,000 water fund target was discussed, though the minutes do not record when that target was adopted.
No formal motion recorded at this meeting addressed eliminating the CPA or attorney or formally setting the allocation percentage for past-due assessments. Board members discussed options and will revisit finances at the next meeting.
