Annual Report? Corporate Records?
Board Minutes? Financial Reports?
What is happening to
our money? What are they (BOD) doing with our money?
A Shareholder
suggests …. Post info about the lack of financial statements.
From … VA (Valerie Arms) By Laws and House Rules. Article 4, Sec. 3 states.
“Within three months after the end of each fiscal year, the
treasurer shall cause to be transmitted to each shareholder-tenant whose
proprietary lease is then in effect, an annual report of operations and balance
sheet of the Corporation which shall be certified by an independent Certified
Public Accountant.”
In other words, Board Member Alicia Spiegel, the Corporate
Treasurer was supposed to have the audited financial statements to us by March
30. They are now over a month late.
We don’t want excuses. We want to know what is happening to
our money.
We don’t want endless ‘Rules & Regulations’, we want
the BOD to do their job.
We want to know what is happening to our money.
A Shareholder suggests … “We want to review all contracts
and all irregular invoices and disbursements. (That means disbursements other
than, wages, fuel, labor, etc.)
We want to know what is happening to our money.
A Shareholder suggests …. We Shareholders deserve respect.
The repeated letters, petty admonitions, accusations are demeaning. Does
everyone on the Board intend to resign?
More to come …..
*Note We can e-mail the 'Board of Directors Reference Book' if you wish.
Contact us at vasc11362@aol.com
*Note We can e-mail the 'Board of Directors Reference Book' if you wish.
Contact us at vasc11362@aol.com
Former Board President Marc Ullman has shown us a letter from the accountant Vision Management assigned to the Valerie ADMITTING THAT HE NEVER REALLY AUDITED OUR BOOKS.
ReplyDeleteJill Schachter and her Board of Directors has admitted that Vision Management ILLEGALLY COMMINGLED TENS OF THOUSANDS OF DOLLARS of security deposit money into our operating account and NOW THAT MONEY IS GONE. Mr. Ullman has showed us documents proving that Vision Management never kept these funds on our books. WHERE ARE WE SUPPOSED TO GET THAT MONEY FROM?
Now our financial reports are a month late and Peter Mesos/Vision Management suddenly decides to quit! Jill Schachter and the BOD responds by attacking 26 shareholders who are trying to find out what is happening what is happening with our money.
We are the owners of the Valerie Arms and we deserve to know what is happening with our money. Why are the financial statements a month late? What is the problem with the audit?
The BOD should give us these answers now and explain why it attacks us when we try and find out what it is doing with our money.
Maybe the BOD should do us all a favor and just resign.
Add it to the list of "where are's and where is's "..... 1) where is our parking lot layout that we were promised in November 2011? 2) where is the report from the mythical unnamed forensic accountant? 3) where is an amazing website that the shareholders paid Adam Bailey thousands of dollars to go after Ellen for? 4) where is the transparency promised in the November 2011 meeting? 5) where is the bank account with our security money? 6) where is a letter from the board to vision asking why our money was commingled? 7) where is the list of companies we are considering to replace vision and the reasons for consideration? 8) where is a report about what we are doing to get a better mortgage now that our golden goose Peter mesos is gone? Overall, where is the responsability? NEW BOARD, NEW MANAGEMENT, NEW DIRECTION FOR THE COOP!
ReplyDeleteWhen I read this, I realized how funny it is for Jill Schachter to complain that Jennifer Naliboff and Marc Ullman " suddenly resigned" and ran away from the BOD. Shareholders were supposed to have audited financial statements at the end of March, but they are nowhere to be seen. (Ask our so-called Treasurer Alicia Spiegel where the audited financial statements are) Shareholders, have asked for copies of bills proving how Vision management and the BOD spent our money, but we have been given nothing. Vision Management mishandles tens of thousands of dollars of shareholders money but when we ask the BOD how this could have been allowed to happen, we are ignored.
ReplyDeleteWhile all of this is going on, Peter Mesos "resigns" as the Management Company! Who's the one running away?????
Tell Jill Schachter that you are sick and tired of her personal attacks against anyone who dares to question how Peter Mesos mismanaged our building and why the BOD refused to do anything about it. Tell her it's time for her to go before she embarrasses herself anymore. Tell Jill Schachter and the rest of the BOD that we don't care about Jill's love affair with Vision Management, that we don't care about kindergarten bulletin boards, that we don't care about cookie parties, that we don't care about a staff lunch room, or any of the other diversions they are trying to use to distract shareholders (ESPECIALLY OUR VULNERABLE SENIOR CITIZEN OWNERS).
Tell Jill Schachter that we want to know what happened to our money. why all of our requests for information have been ignored and why anyone who dares to asks questions is singled out for abuse. Tell Jill Schachter and the rest of the BOD it is time for them to go. They should do us a favor and resign now.
What happened to Board's claims of transparency. They ignore requests for information as if it is their right to do so. This Board of Jill's appointees forgetmthat they, along with this so called management company, work for US. Not the other way around.
ReplyDeleteToday's mail brought another defensive letter with more excuses from the Board for it's malfeasance. Apparently we can expect to wait another month before our Treasurer, Alicia Spiegel produces the audited financial report we were supposed to have by the end of March. The excuse . . . there is a lot of work to do, we have new accountants and WE NEED MORE TIME TO FIGURE OUT HOW TO PROTECT VISION MANAGEMENT. To further insult us as shareholders, BOD spent even more of our money on this mailing to justify it's inability to take care of the real business of the Coop.
ReplyDeleteNo explanation about what happened to our last accountants. Jules Simon was fired for incompetence. What happened to his replacement? Were too many "nasty" questions about Vision Management being asked?
Keep making your voices heard here and throughout the Valerie -- we are making a difference.
All of these letters constantly reiterating "....this was never an issue on the previous board, why are they only pointing this out now?".....WHY DIDNT THEY BLOW THE WHISTLE ON BERNIE MADOFF AT 10 BILLION INSTEAD OF 70 BILLION".....the answer is that maybe there was never a red flag, or maybe there was and nobody knew to look for it. Once they started thesearch though, they found out more than they probably wanted to. To the current board, quit complaining about previous boards and just do your job properly.
ReplyDeletePresidents do not constantly blame the previous administration. It is petty. It is juvenile. It is unprofessional. Maybe THIS Board should take a lesson on how to effectively manage and run a corporation. They will learn it is not just about making purchases; it requires a balancing of the books as well.
ReplyDeleteWhere is the money for the Pool work coming from? Due to the work needed to fix the pool, in order for it to open this year, we now have to spend an additional $ 70,000 plus for major pool repairs - new skimmers, new pipes and let's not forget the new bathroom. Since we have Non-Shareholders on our Pool Committee, you all know the "Famous People" at the First Table that are there every year in and out, these Non-Shareholder must have a new bathroom so that they do not have to waste time going to their own apartments to use the bathroom.
ReplyDeleteWHERE IS THIS MONEY COMING FROM???
Where are the priorities? What is going on? Spend money on letters about a website we don't use, parties for Realtors (with alcohol...real smart), railings for the old age facility, and NOW...drum roll...God only knows how much money spent for a pool that barely (if at all) justifies its cost. I'm starting to think this board is TRYINGto hurt the building. Lets pray people aren't so foolish to re-elect these geniuses ...
ReplyDelete