Print Report

 

 

TREASURER’S REPORT

BOARD MEETING MARCH 17, 2018

TO BE ADDED TO AND MADE PART OF BOARD MINUTES

 

 

 

·        The 2016 Tax Return has been prepared as per Zavada -$ -0- due.  2017 Extension will be filed


·        Received documents from Wayne Bank on loans/lines of credit – I requested additional info


·        Again, let me reiterate that that there is no trust (by myself as well as our accountants and auditors) at this time in the Balance Sheet figures, since they roll over from one year to the next, while the P & L Statement starts fresh each year. As such, the 2017 balances in the cash accounts (bank reconciliations are in progress) and the Accounts Receivable account (still requires extensive examination and verification) are not accurate and I won’t publicly post a Balance Sheet under my name until I can verify the validity of the figures on that Balance Sheet. Anyone who wants to look at the current “inaccurate” Balance Sheet is welcome to do so, but realize that the figures are not accurate


·        Insurance – met with insurance agent (Me, Janice H., and Rich P.). We discussed our current and projected costs in detail (gen liability / umbrella / crime / D & O / Workman’s Comp) and potential areas to save $ on renewal. We discussed the claims that have been filed and the insurance claim questionnaire that needs to be jointly prepared with the independent auditor (Zavada) as well as Attorney Farley’s office. In addition, we discussed potential claims under an “elite property enhancement” rider that we have in our policy in an attempt for restitution of the recent expenditures for the locks and computers.


·        2018 Financials (existing P & L and Budget) are attached


·         To move things along more quickly, I have prepared a summary list of “Invoices To be Approved”, “Checks Previously Approved”, and “Checks Cut  Not Previously Approved”, so that we can discuss and respond to any specific questions, but can approve in total rather than each individual item.