Finance Committee

Meeting Minutes

February 16, 2010

Call to order

Bob King called to order the regular meeting of the Finance Committee at 7:00 PM in the Proprietary Office.

Members

Members present: Dave Barrie, Jeff Kretsch, Dan Moldover, Roni Hennessey, Chad Levrini, and Bob King – Chairman.  Members not present:  Dova Wilson, Jim Peterbok.   Laura Moynihan attended representing PMP.

The committee discussed formats for the financial reports under the new operating system.  Laura handed out several examples and the committee members will offer suggestions to Laura for the next meeting on which reports to use.

 

Dan Moldover moved with a second from Chad Levrini to recommend to the BoD to combine the funds from the maturing Sona Bank CD with the funds from the maturing Preferred Bank CD at Fidelity at the best rate available for up to 12 months.   Motion passed unanimously.

 

The Committee discussed the Aging Report and directed PMP to check on the status of the architectural violations and to follow up with the attorney on the status of some of the accounts.

 

Roni Hennessey moved with a second from Chad Levrini to recommend to the Board that it accept the proposed payment plan #71430. This is a non-standard payment plan.  The motion passed unanimously.

 

The Committee gave direction to PMP to revise the terms of the payment plan language for non-standard payment plans.  Laura will email the committee proposed language.

 

The meeting was adjourned at 8:20 p.m.

 

Minutes submitted by:  Bob King