Print Report

TREASURER REPORT
BOARD MEETING FEBRUARY 24, 2018
TO BE ADDED TO AND MADE PART OF BOARD MINUTES

• Since Scott has resigned, Rose Murphy and Janice Hahn are current signatories on the new checking a/c in addition to myself
• We are still awaiting documentation from Wayne Bank on loans/lines of credit. Both Attorney Farley and myself have followed up with Bank Officer
• Although we have 2017 Financials, trust in the figures is lacking, and we are waiting to get the Accounts Receivable (requires extensive work) and the Bank Reconciliations in order before we can have confidence in reporting a current Balance Sheet
• Towards that goal, work has begun on Thurs (2/23) on the Bank Recs
• We need to explore whether or not we want to pursue doing a title search in Florida to determine if Art had property there as we attempt to obtain restitution from Art's estate
• 2018 Financials (P & L and Budget) are attached
• We have not yet resumed the monthly $1,667 transfers to the Lake Reserve because we are in the process of moving the funds out of Wells Fargo Bank in order to receive a more favorable rate of return, and setting up the automatic transfers from our new checking account would not be worthwhile at this point
• We need to look further into an expense for PN Fire and Burglar Alarm Co Inc, invoice turned over to Security Committee
• PPL switched to auto payment; no luck with Blue Ridge Cable
• As approved by the Board at the January 2018 Board Meeting, all the locks for the WLLA office and clubhouse have either been changed or rekeyed. This was only done after the Board had approved the expense and not prior to approval, as alleged by some individuals. Distribution of keys is now limited to 3 individuals, myself (Treasurer), Janice Hahn (interim Pres), and Fred C (Maintenance)
• It has also been brought to our attention, amid more false rumors, that the computer that had the hard drive blown out by the latest virus and which needed to be replaced, was not originally purchased by our computer guy (Peak Performance). Apparently, Art purchased them on his own, and there is the possibility that they might even have been used or refurbished
• The $15 check to Pike County has been straightened out, it was originally made out to County Waste by mistake
• We have received an insurance claim questionnaire that needs to be jointly prepared with the independent auditor (Zavada) as well as Attorney Farley's office
• We will now present invoices for approval for payment, and we will sign the checks that have already been approved for signatures