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“Following the Money” 4/03/2008

“Following the Money” 4/03/2008. Tonight’s Subjects ! “LWV Finance 101 (recap)” “Real Life Finance 101”. Third Mutual. United Mutual. $501.88/mo x 12mo x 6323. $532.62/mo x 12mo x 6102. LWV Finance 101 (recap). Personal Savings. 2008 Monthly Basic Assessments. Who Knows ?. $38.08M/yr.

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“Following the Money” 4/03/2008

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  1. “Following the Money”4/03/2008 Tonight’s Subjects ! • “LWV Finance 101 (recap)” • “Real Life Finance 101” Residents Voice

  2. Third Mutual United Mutual $501.88/mo x12mo x 6323 $532.62/mo x12mo x 6102 LWV Finance 101 (recap) Personal Savings 2008 MonthlyBasic Assessments Who Knows ? $38.08M/yr Where doesit GO ? $39.00M/yr Residents Voice

  3. Who Monitors & Reviews Payments From This Account ? • The United Mutual Treasurer – No! • The Third Mutual Treasurer – No! • The Towers Treasurer – No! • The GRF Treasurer – No! Residents Voice

  4. 2003 – 2013 Trend ofBasic Monthly Assessments Towers United & Third Residents Voice

  5. Real Life Finance 101 Third United Account A Account B GRF Towers Account C Account D Where should our assessments go ? Residents Voice

  6. Using Third Mutual as Example Third MutualTreasurer GRF Mutual Treasurer Sends Bill to 3rd for Payment GRF Invoice 1. Paint $100 3rd Treas Reviews Bill – Authorizes Payment Payment to GRF Account B Residents Voice

  7. “Our” Corporate Attorney ? United Third Towers HKC PCM GRF Residents Voice

  8. Bonus & Incentive PCM$39 B Corp. LWV PCMEmployees Incentives Residents Voice

  9. New Way of Doing Business ! • Housing Mutuals take control of our assessment monies. • Housing Mutuals review the expenses related to that Mutual. • Housing Mutuals hire their own attorneys. • Housing Mutuals no longer pay bonus and incentives for PCM employees. Residents Voice

  10. THE END Residents Voice

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