I live in a coop with a cats only house rule. I have 2 cats as allowed by the rules but have become very depressed due to many factors, most of which stem from my unhappiness with living in this coop. I can't move for the foreseeable next year due to financial reasons. I have spoken to a therapist and received a letter stating need to get a dog and I'm sending it to the board via management company before heading to shelter to adopt dog. Is there ANY reason board can try to use to deny my right to a dog? Can they make excuses about noise, etc to try and make me get rid of dog? The management company of my coop is extremely uncooperative and I know they will try any excuse to deny me so I'm just trying to head off any problems. I have addressed a letter to board with a copy of letter from therapist stating my need prior to adopting. Any thoughts appreciated.

Sorry about my dog post. I meant to create new conversation.

Because of recent abuses of "support" animal rules, the government is trying to come up with a set of standard guidelines to differentiate between "service" and "support" animals, and how each integrates into the Americans with Disabilities Act. Assuming that the your situation meets whatever regulations are in place, I don't think the co-op/MA can deny you the support dog. What the might try to do is demand you get rid of one or both of your cats because the dog will be a replacement.

It sounds like having the support dog is very important to you and I understand your apprehensions. Because of the ambiguities surrounding support animals, I suggest you contact an attorney who specializes in ADA law to find out exactly what you are allowed and what the co-op/MA is permitted to do. If nothing else, knowing definitely what is and is not permitted will lessen your level of anxiety and apprehension.

You might want to explore putting your reserve funds into Money Market (MM) or Certificate of Deposits (CD) before getting involved in the complexities of Treasury bonds. MMs and CDs are each insured up to $250k so there no loss of principle. Depending on how frequently you estimate you will need to draw on the funds, you can look at on-line "internet" banks or local brick and mortar banks.

If you're in NYC, I can make a recommendation. Bethpage Federal Credit Union. They were originally Long Island only, but have a full service branch in Chelsea on 26th St. I used them for personal banking long before becoming my Co-op's treasurer, and opened a business account with them for our reserve funds. Here's the link to their business banking department: https://www.bethpagefcu.com/business.aspx and the link to their business account rates https://www.bethpagefcu.com/rates-calculators.aspx . BFCU Money market is paying 1.75% and you have immediate access to your funds. CD's are tiered based on length of time. They were a little slow raising their interest rates compared to other banks, but in the past year the latency has decreased.

I've been with the BFCU (personally) since 1974 (I'm an oldie but goodie) and never had any problems or fund security concerns. They're one of the largest credit unions in the country.

I would invest in Ally Bank, CD's are going for over 2.% and the Feds will be raising interest rates again. Your board can also get a Ally Bank Savings Plan this will be going from 1.90% to over 2% and the board can withdraw the money right away without penalty. Also you can consult your account who can advise you the best for your board. Best of Luck

PC #1 - That's why I recommended Money Market over CD in today's environment. All indications are that interest rates will be going up in December and 2-3 more times in 2019. If you invest in a 12 month CD, it won't benefit from any of these rate hikes. MMs, on the other hand, are more liquid, and banks will increase interest rates to stay competitive during the 12 month cycle.

Of course, how important all this is depends on how much is being put into the MM or CD. If the principle is in the $25k to $75k range, an increase of 50 basis points (0.50%) to 75 basis points (0.75%) over 12 months won't make much difference. But if the MM/CD is maxed to the FDIC limit ($250k) or more, even small interest rate increments have a noticeable effect.

Does Ally offer business accounts? When investing co-op funds, they really can't go into a personal retail account. Chances are no one will find out, but at the very least the individual who owns the account will be taxed on the interest income, and they will be legally liable for any unauthorized withdrawals or other questionable activity. Board members are fiduciaries, and it's not a good idea for fiduciaries to have personal ownership of corporation funds.

Yes to your question Ally offers business accounts, also you can spread your money around to money market companies. Like Charles S. if you have more then $250,000. Steven board members don't have access to these accounts only the board treasure /managing agent who approves bills/pays them. Board of directors safe guard these accounts with 2 signatures if needed. These monies will be safe after the board Treasure shows the monthly expedisures at monthly board meeting and explains/shows what was spent or earned that month. Have a great Thanksgiving

Thanks PC#1. The very same to you, and to the rest of the participants in these forums.

I agree with severely limiting signatory privileges on all reserve accounts. In our board only the president and treasurer can sign for withdrawals or transfers. We don't give withdrawal privileges to anyone who is not a board officer, including the MA. The number of withdrawals from a reserve fund should be minimal, in most cases one or less per month.

IMHO, the reserve accounts should only be used to increase the balance of the operating account if a large expense is anticipated or due. There shouldn't be any direct disbursements to any vendors or suppliers or taxing authority, etc. If direct payments are made from the reserve accounts, bookkeeping and auditing become much more complex. It also becomes more difficult to trace fraud or embezzlement. At least, that's the process we use with our reserve fund.