The
questions that need to be addressed at the meeting are as
follows:
1.
How
was the Co-Mingling of Funds STOPPED? What actions were taken to discover and
correct the Co-Mingling of Funds? Was the money replaced into our bank accounts
and where did the money come from? Is this money being held in a separate escrow
account?
2.
Where
are the funds of $ 40,000 coming from for the repair of the pool, since the
Board minutes clearly stated that funds were not available in the Year 2012 to
repair the pool?
3.
What
is the current percentage/ratio of sublets versus owner occupied apartments?
Have we reached to maximum sublet amount in order to be able to re-finance our
mortgage in two/three years? Is this a real issue or contrived to justify
extraordinary sublet fees?
4.
What
is the five year plan for our buildings? Is there a plan?
5.
When
will Assessment #1 for the hallway renovation stop?
6.
What
is the projected ending date of assessment # 2 and how much money needs to be
collected in total for assessment # 2 known as Legal Fee Assessment? Is there a
separate bank account for assessment # 2? Why are Shareholders paying BOD
expenses?
7.
How
much in Legal Fees have been spent since July 1, 2011 thru June 15,
2012?
8.
Was
the new Management Company though roughly vetted? How much is their yearly
contract for to manage our buildings? What experience do they have?
9.
Why
did the Board fire CPA - Marin & Montanye? How much retainer fees were given
to them for no services provided?
10.
The
Board states they hired a new accountant and a forensic accountant. Note: Any
reputable CPA firm is able to conduct AUDITS, REVIEWS and COMPILATIONS according
to GAAP (Generally
Accepted Accounting Principles). Why do we need a new accountant to audit the
books and then a forensic accountant to review audits? This is double work and
money being thrown away.
Since no member of the Board will tell you what happened (It's NONE OF YOUR BUSINESS) I want to make sure everyone undestands what happened with the commingling of securioty deposits.
ReplyDelete1. It was going on for a very long time.
2. The commingling was brought to my attention by Rick Montanye (one of the reasons Jill fired him as our accountant and paid him $12,000 to nothing and make him stop asking questions).
3. The coop's former accountant, Jules Simon should have seen this decades ago, but did not say anything because he was also working for Peter Mesos, was auditing his own work and was protecting Peter Mesos instead of shareholders at the Valerie.
4. It could have been caught by carefully reading our annual financial statements because that money should have shown up there as a debt.
5. I do not pretend to be an expert at at reading financial statements and (foolishly) did not realize that Jules Simon had a conflict of interest and was covering things like this up to protect Peter Mesos. Obviously relying on Simon to advise me was a huge mistake on my part.
6. Since Jill Schacter claims to be a expert financial analyst, why didn't she notice this? Or did she notice and keep silent to protect Peter Mesos?
7. When I asked Peter Mesos why this money was kept off of the Valerie Arms' books, he responded "why do you care, it's not your money".
8. We don't know exactly how much money is involved. Vision Management never returned security deposits unless it was asked for the money. It kept a lot of people's security deposits over the years. (We will never know if Mesos pocketed this money) Vision also never bothered to collect move-in/move-out security from people who buy from Peter Mesos.
9. The Commingling of funds was just one example of financial mismanagement that I listed when I tried to replace Vision as out Management Company.
Jill Schachter did not care about this -- she voted to keep Vision as our Management Company and to this day continues to cry over the fact that Vision is finally gone from our coop.
I would like to know, if the Board is going to complain of high legal fees that it had to pay because of the 17 page letter from the Concerned Shareholders with financial questions for Vision, WHY DIDN'T THE QUESTIONS GET ANSWERED? We were told in a letter from the Board that the "parking lot situation is fine", but now we have a written financial document from our accountant that says that Management found a parking lot error. Firstly, Marc pointed the error out a long time ago and second, why are we getting two stories? A former Board President was walking around the hallway promising to give out a "parking lot chart", which has still never been given out. If anyone from the current BOD is reading this, do you see why people are ticked off? Its called "LACK OF INFORMATION."
ReplyDelete2 stories about the parking lot: You were being lied to. Part of Jill Schacter cover-up for Vision. Desperate to protect Peter Mesos -- willing to do and say anything. Ask "what's in this for Schachter?"
DeleteParking lot situation: was never fine. We have been ripped off for decades by Mesos, Garris (stole an indoor spot from the coop), and Vision.
People ticked off: TIRED OF BEING LIED TOO AND SICK AND TIRED OF COVER-UPS.
Did you read the new BOD minutes?( May 22,2012) More LIES from your BOD! They claim that they never said that they can take away (STEAL) your parking spot whenever they feel like it.
ReplyDeleteWell here is what your BOD actually said when they posted their ridiculous one sided parking license agreement all over the co-op Item # 13 " Cooperative may terminate this agreement at any time and for any reason or for after giving SPACE USER at least (30) days advance written notice of it. Upon such event,SPACE USER shall surrender possession of said space on the last day of the next calender month following the date of service of said (30) day notice. Upon any termination of the agreement, the parking space shall be reassigned in accordance with Board of Directors Policy.
# 15 The Cooperative reserves the right to take back a subleased spot at any time in the event
of a sale that comes with a a parking spot. All subleased spots are considered rentals of a period of month to month and not considered permanent.
I guess it is just to hard for JILL to keep Her LIES straight. Maybe that is why she does not like to put anything in writing.
I can't wait to see the Jill Schachter show on Tuesday. (She'll be auditioning for a starring roll in the Macy's Thanksgiving Day Parade).
ReplyDeleteSomeone needs to ask her how she allowed all of our expenses get so out of control. In August the Board Minutes she wrote told us how she reported to the rest of the Board that expenses were at exactly the same level in 2011 as 2010. How did she let things get so messed up in just 4 months?
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ReplyDeleteDirk Kettlewell
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