LWV
            April 03, 2008
           Residents Voice


04/03/08        Residents Voice   1
“Following the Money”
                                         4/03/2008


            Tonight’s Subjects !

           • ...
Third Mutual                                  United Mutual




$532.62/mo x                                   $501.88/mo ...
Who Monitors & Reviews
     Payments From This Account ?

•   The United Mutual Treasurer – No!
•   The Third Mutual Treas...
2003 – 2013 Trend of
           Basic Monthly Assessments
           $1,200                      Towers
           $1,100
...
Real Life Finance 101
           United                 Third


                    Account A

                           ...
Using Third Mutual as Example

GRF Mutual                                    Third Mutual
 Treasurer                      ...
“Our” Corporate Attorney ?


                           United


           Third                           Towers



    ...
Bonus & Incentive
                                        PCM
                                      $39 B Corp.




    LW...
New Way of Doing Business !
• Housing Mutuals take control of our
  assessment monies.
• Housing Mutuals review the expens...
THE END

04/03/08     Residents Voice   11
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Agenda 04 03 08

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Agenda 04 03 08

  1. 1. LWV April 03, 2008 Residents Voice 04/03/08 Residents Voice 1
  2. 2. “Following the Money” 4/03/2008 Tonight’s Subjects ! • “LWV Finance 101 (recap)” •“Real Life Finance 101” 04/03/08 Residents Voice 2
  3. 3. Third Mutual United Mutual $532.62/mo x $501.88/mo x 12mo x 6102 Personal Savings 12mo x 6323 LWV Finance 101 (recap) 2008 Monthly Who Knows ? Basic Assessments $38.08M/yr Where does it GO ? $39.00M/yr 04/03/08 Residents Voice 3
  4. 4. 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! 04/03/08 Residents Voice 4
  5. 5. 2003 – 2013 Trend of Basic Monthly Assessments $1,200 Towers $1,100 $1,000 $900 United & Third $800 $700 $600 $500 $400 $300 $200 $100 $0 2003 2008 2013 04/03/08 Residents Voice 5
  6. 6. Real Life Finance 101 United Third Account A Account B GRF Towers Account C Account D Where should our assessments go ? 04/03/08 Residents Voice 6
  7. 7. Using Third Mutual as Example GRF Mutual Third Mutual Treasurer Treasurer Sends Bill to 3rd for Payment GRF Invoice 1. Paint $100 3rd Treas Reviews Bill – Payment to GRF Authorizes Payment Account B 04/03/08 Residents Voice 7
  8. 8. “Our” Corporate Attorney ? United Third Towers HKC GRF PCM 04/03/08 Residents Voice 8
  9. 9. Bonus & Incentive PCM $39 B Corp. LWV Incentives PCM 04/03/08 Residents Voice Employees 9
  10. 10. 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. 04/03/08 Residents Voice 10
  11. 11. THE END 04/03/08 Residents Voice 11

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