We have been having problems since installing the backflow device. Just had the mixing valve repaired and it seems to be better. Anxious to hear from others regarding this problem.

Absolutely your co-op should reimburse you. It's like professional training - what lawyers and accountants must do each year.

Being a board member in a big co-op I would like to further educate myself however, my board said not to reimbursement of this conference, because it is $225 per person. And they rather to spend that money for something else than education.
I don’t know what options I have. I have already donated my time and knowledge to the board, I cannot donate money. Maybe CNYC can sponsor me?

RF

If your co-op was a member of this group, it would be free for you. You could give CNYC a call. Who knows, maybe they would make an exception for you?

The independent accountant should be invited to the annual meeting to review the presentation of the audited financial. Since shareholders get financial and they just put them away, let them know through reminders to bring the audited report to the meeting so that they can follow the discussion in addition to bringing they questions to the meeting.

The responsibility of the Board is to provide the financial, not to explain it line-by-line to a layman. For this, shareholders should come to the meeting or pay his accountant or lawyer to review and explain it to them if interested.

Hi, we have a large Brooklyn base for our firm, Excel Bradshaw Management (www.ebmg.com).

Would be happy to chat.

Mark

Jim:

The treasurer should be receiving all bank statements each month in the monthly management report. You should ask your agent to give you a cover sheet of all your bank accounts with last month's balances and this month's balances so you can see any variation in balances. The treasurer should approve any transfers from the Reserve accounts. All of our board members receive a comprehensive monthly report including bank statements to the flow of monies from all accounts can be viewed.

Steve Birbach
Chairman- Carlton Management
212-575-0200/516-609-8200 x 15

Jim:

The treasurer should be receiving all bank statements each month in the monthly management report. You should ask your agent to give you a cover sheet of all your bank accounts with last month's balances and this month's balances so you can see any variation in balances. The treasurer should approve any transfers from the Reserve accounts. All of our board members receive a comprehensive monthly report including bank statements to the flow of monies from all accounts can be viewed.

Steve Birbach
Chairman- Carlton Management

In my building I am the only one who deals with money issues. But I follow it very closely, and work with our management company. What do you mean when you ask if you are informed when money is transferred from one account to another? I would think you should know, and even approve, this.

You should also check your By-Laws to see the duties of your Treasurer.

Thank you for the responses. I checked my co-op By-Laws and there is written that the treasurer is responsible for all funds and accounts. In reality, in my co-op, the treasurer is responsible only for two Community Funds accounts and he approves bills. For other accounts, and we have them plenty, is responsible the management company.
The board is not informed about transfers. The perfect example is when more than $1 mln was transfer from one account to another and nobody knew about this. Nobody even asked about this except me.

The conversation about finance is not welcome in my co-op. We have many restriction regarding reviewing financial information including signing a confidentiality agreement for board members in order to examine monthly financial report.

That’s way I am asking how it is done in other co-ops. What information should a treasurer shares with a board?

My advise to you is to contact a reputable gas boiler installer and start the process. They work with the gas companies and can often obtain additional rebates for you. They have direct relationships with National Grid and Con Edison and know how to move the projects along. Contact me if you want any recomendations.

Steve Birbach
Carlton Management 718-479-9393 x15

The first step is to explore those variables in a building that you do have immediate control over: operating efficiency of heating plant and domestic hot water system, common area and exterior lighting and choice of heating fuels. Heating fuel: #6, #4 or #2? Availability of adequate gas to effect a conversion? Duel fuel or single fuel burner? Have you capitalized on the rebate/incentive programs for the updating of both interior and exterior lighting? If your building has a large number of thru-wall ac units is the perimeter insulated? Going Green isnt always about adding new technologies, its also about ensuring existing technologies are operating at their optimal level.