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Treasurer: association paying "bare minimum" on bills while assessments arrive
Summary
Secretary/Treasurer Judy Mangrum told the board the association is paying the bare minimum on bills to get through May; assessments are beginning to come in and all monthly bills have been paid, the meeting record shows.
Secretary/Treasurer Judy Mangrum presented the monthly financial reports and said the association was paying the "bare minimum" on bills to conserve cash until assessments are collected. "The bare minimum is being paid on the bills so that we can get through till May," she said, and reported that all the month's bills have been paid.
Board members noted that assessments are coming in and helping maintain the association’s cash flow. The board voted to pay the approved bills and approved the monthly report; specific dollar totals for the month or for the budget were not provided during the meeting. Bill Springer suggested doubling last year’s budget for next year to cover necessary items, but exact figures were not specified.
