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Post by Admin on Oct 15, 2013 17:45:41 GMT -5
Cross-post from AnonNews April 11, 2013 The April's BOD Meeting Minutes, their is talk about please send in your New Sign Design for RT. 60, maybe purchase the rented Annex Bldg. for $74,000. To be placed in a different location, more monies needed for the Pier/Dock completion, maybe move money from a different Fund. Maybe if SLR purchased the rented Annex, it could be used for living quarters for a On-site Manager. Just an Idea. Yea a bad one. ____________________________________________________ April 11, 2013 Anonymous-Truly scary post. Now we are moving money from different Reserve funds? That is a Big NONO! We have already paid for Temp Annex for 2 years + and now planning to pull it up and move it? WHY? What is the need? There must be a specific need. Maintaining a building has continuing costs ie insurance, maintenance, utilities etc. What is this all about? ______________________________________________________
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Post by Admin on Oct 16, 2013 15:58:01 GMT -5
Per 720.303 (6)(2)(h)
(h) Reserve funds and any interest accruing thereon sH all remain in the reserve account or accounts and sH all be used only for authorized reserve expenditures unless their use for other purposes is approved in advance by a majority vote at a meeting at which a quorum is present.
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