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Over. It's now 532. We'll call this meeting to order. And Jim will call the roll. Yeah. Okay. Um, let's see. Jerry shirts here. Uh, J Philanson. Yes. Pat Mayna's not Finland son. Here. Um, Vicki. Here. Um, Jessica Anderson. Here.

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and I'm almost gallery, gallery house is here and so the only one I've sent is is

3
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Ham Fisher okay thank you appreciate that I keep saying when I do be

4
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agenda I'm going and I don't know why I'm six had presentation of the budget I

5
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I had to call Jessica because I couldn't happen and she's been talking.

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So we substituted Brent in there and so I'm going to go right to Brent so that he doesn't

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have to stick around for the whole meeting.

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So far away, Brent.

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That's what you got to do the minute first, don't you?

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00:01:12,260 --> 00:01:13,540
I mean, could you do him after?

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I mean, maybe you can.

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I don't.

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You can do the minutes anytime you want.

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OK.

15
00:01:16,800 --> 00:01:18,760
So I'll just put you in front of the minutes.

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I do have the budget as well.

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Oh.

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Oh.

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00:01:28,440 --> 00:01:33,700
So I don't know what she has done in the past, but typically you have to amend the budget

20
00:01:34,640 --> 00:01:37,000
to match that at the prior year.

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00:01:38,340 --> 00:01:41,200
So what you have in the front, I'm sorry, Valerie, this is my last call.

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That's all right.

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00:01:42,660 --> 00:01:43,820
See if I can see the opposite ones here.

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00:01:45,340 --> 00:01:49,080
So this first one is the amended budget for 2025.

25
00:01:50,620 --> 00:01:53,500
So we have the current year column and the budget column.

26
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there on the right hand side. So those are identical because we're forcing our

27
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spend and our income to manage the bad of the budget. So that's why those columns

28
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look the same because they are the same. Now this combines and I don't know what

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you guys have seen in the past when I was on the board we never really seen this.

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So this is a combination. So the Miller County Housing Authority is one entity.

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but it is reported as two locations and it's reported that way because of the funds that

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come from the FHA. So that's why I think Van, he always brought reports that we could never

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match up, we didn't only know why, and that's why. So when you look at your total income for last

34
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year, it was 445,000 in total. And there's a technical difference there that the auditors would

35
00:02:58,700 --> 00:03:05,460
call out. We don't report the subsidized interest that comes in from from the FHA.

36
00:03:06,260 --> 00:03:11,780
It's in and out, so it matches exactly. I'm not sure what you mean by subsidized interest.

37
00:03:12,460 --> 00:03:19,200
So the debt that is on the Delta Sands building and then also on Catherine. The majority of

38
00:03:19,200 --> 00:03:29,360
all that is subsidized. So we are paying back, I forget the exact number, but 1,000 and

39
00:03:29,360 --> 00:03:35,400
1,500. It's about a third of a year on the transmission. I'll have to pull that.

40
00:03:35,760 --> 00:03:43,120
I've got on my computer, but not nonetheless, the debt payment and the interest is subsidized.

41
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And so we get a substitution for that payment, it's basically being forgiven and then also likewise on the interest component thereof, it is also forgiven.

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That's what you need to remember.

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00:03:59,500 --> 00:04:00,020
That's it.

44
00:04:00,080 --> 00:04:03,780
And it's the FDA on the FHA.

45
00:04:04,860 --> 00:04:06,520
The Department of Agriculture.

46
00:04:07,000 --> 00:04:08,580
Is it the USDA, isn't it?

47
00:04:08,860 --> 00:04:09,080
Yeah.

48
00:04:11,140 --> 00:04:17,800
It is USDA, maybe I'll put that down, I have it in my head, it was at BHA, but yeah maybe

49
00:04:17,800 --> 00:04:18,640
if you weren't correct.

50
00:04:19,320 --> 00:04:20,520
I don't see this part of the diagram.

51
00:04:21,100 --> 00:04:25,800
I think it farmers home, I guess.

52
00:04:26,740 --> 00:04:28,300
Anyway, what's all about?

53
00:04:28,680 --> 00:04:31,140
It's the Department of Agriculture, it's overhousing.

54
00:04:31,880 --> 00:04:33,880
Yeah, that's who we work through.

55
00:04:35,380 --> 00:04:41,840
So yeah, I mean, the deaths on these two locations are being forgiven over a 50-year period.

56
00:04:45,300 --> 00:04:45,900
Okay.

57
00:04:48,900 --> 00:04:51,560
So that piece is not in here.

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00:04:52,960 --> 00:04:55,940
And this budget is reported to the state of Utah.

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This one right here, that gets reported to the state every year.

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and the auditors look for it as well okay so that's just forcing it to what we

61
00:05:07,080 --> 00:05:12,880
spent for the year just to make that square so does that say we went 12,000 over

62
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budget so or is that the prior year the prior year is 2024 okay and that's the

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actual spend for 2024 I did not show you a comparison of 2025 to what your

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original budget clause. Okay. I worked off of actuals.

65
00:05:36,780 --> 00:05:40,160
Okay. So then we're going to flip

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over to 2026.

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So this is what has been reported both to partner and also the state of Utah.

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So I've already filed this with the state.

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So the prior year, that is 2024, current year is 2025,

70
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and the budget is 2026.

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00:06:08,160 --> 00:06:10,320
Again, this is a combination for both locations.

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00:06:11,440 --> 00:06:17,540
So you see our total budget in revenues is 463,000

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00:06:17,540 --> 00:06:20,280
versus 446,000.

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so it's slightly slightly out. Is that an increase in rent or increase from the

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00:06:27,640 --> 00:06:33,720
subsidy from an increase in rent? Yeah. We ask for an increase in rent every year.

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00:06:33,900 --> 00:06:39,340
I mean it's sometimes nominal, but we ask for it every year. Since you've been there.

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Well, I'm a little bit before that too, but oh well yeah. No, there was a time period that wasn't happening,

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But yeah, that's why we were upside down. So so we went for 5% this year and that's what they give us was a 5% kicker

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on on all of our means. Is that normal? I mean is it been a good that's for more we did that so when I first got here

80
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We asked for like a 15% correction

81
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because we had gone so many years

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way way behind so you guys remember that and

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Anyway, let us do it

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But I think we asked for 20 and got 15 maybe it's pretty substantial increase and they

85
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get bulk at it at first but we're waiting on it anyway they let us do it I remember

86
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from that conversation they were kind of like that's too high that's outside the realm

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of normal inflation but yeah we know that but since we haven't had inflation factor

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been for years. Yeah. So I don't know what it was last year but I wonder how our

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grants can compare with other facilities similar locations. We did when we went

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over the budget budget we talked about seven to eight percent and then you

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talked to someone at USDA and you said you would probably want to get a proof

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for five. That's why we went with that. So we did try for more. But I wasn't but

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about the limit. Yeah, I mean they have, I can't find any rule around it, but it's more

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of a kind of a customary. They know it when they see it. Yeah. Yeah. It's not a definition

95
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word. So, so that's what we got was by first hand. But as you'll see, I believe that's 20. So

96
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is that an increase in rent that the residents are paying? No, no, no. Okay, this goes against.

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the USDA. Okay,

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the rest you know. All we do, the third, the third, the third, the

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income, the middle. Okay, why do we have any female seats? Okay.

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When I get there,

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that's what I'm going to do. I don't know. That's a spy for you.

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So we do, I think we increase the, or we do evaluate the residents. I've been doing a lot of

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Yes, it's before the first.

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Yeah.

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Most everybody only got like a 2.8%

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cost of living increase.

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And so they're rent went up $8.

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But some people rely heavily on high income

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and they rely on medical expenses.

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And so they have to prove bills up.

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And so that fluctuates quite a bit.

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Now, could we, as we speak, if you guys would say your name,

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that would help to your mother.

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Sorry, that was Jessica.

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Jessica has a room at my house, so I don't have any problem with Jessica's

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rights. She's there in most days. I get you frequently.

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Did you get your question

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answered about housing? I mean, were you talking on Disadjian and Jay asked about

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other facilities? Were you talking about other low-income facilities? Yeah. We

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don't know. Yeah, we're not giving that information. So this is Vicki, which category does the

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rent they pay in go to? Or does that just go to the, it goes into the charges for services.

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Okay, it's in that 456. Okay, so it's just all in there. Yeah, okay.

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00:10:28,110 --> 00:10:31,190
Okay, so we'll go through

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some of these in a little more detail, but if you look at operating expenses, 2.2, other

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operating expenses, you'll see that in 2025, we spent roughly 204,000, yet in the budget

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we have it kind of layered in at 276,000, so we got some cushion.

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Now there's going to be normal cost increases from 25 to 26, but we feel like we have enough

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baked in there that we're going to be covered.

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Deep in the race.

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Flash area.

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Yeah, but it started this year, didn't it?

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No.

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It started last year.

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January 25th, I had a race, yeah.

135
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Well, I thought you got another one this year.

136
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No.

137
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Oh.

138
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Oh, you're fine.

139
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So, when we worked on this, we didn't see any large capital projects.

140
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I don't know if that's still the case.

141
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There's projects that we could but none that have to be done.

142
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And I think Jim's got a proposal.

143
00:11:44,410 --> 00:11:46,990
So we didn't have anything in the budget for that at the time.

144
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But based on these numbers, and again, the operating expenses are a bit on the higher side.

145
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They're very conservative.

146
00:11:59,060 --> 00:12:03,340
Our transfers to our other funds is roughly $50,000,000.

147
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So, based on the budget per cent, we'd be able to stack away 53,000 into our reserve accounts.

148
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Now, we have two reserve funds. One is for Delta SAMs, and that's already maxed out at 130,000.

149
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And that's where it needs to stay. So, we have plenty of lights stacked away, and the USDA is happy about that.

150
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Now, Mt. Catherine is way below. I believe the number is 110,000 and we're at I-44 or something like that down.

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This is Pat. Jessica, we had some big projects there last year. Did we did the asphalt in the parking lot?

152
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Over the last couple of years, we've done a roof and the asphalt on the windows and carpet.

153
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And that's what drew it down.

154
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Yeah.

155
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Yep.

156
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So this is Valerie.

157
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So is that why on the prior year operating expenses was the 346?

158
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I do not know why that was 346.

159
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Capital and operating are separate.

160
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Capital would have been buried on the 2.4.

161
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So I don't know what was in that 346.

162
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I have to go back and check and find out.

163
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Okay.

164
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Okay. However, so on going up to the 110, $110,000 that's required to be said in there, which is required by the USDA.

165
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They are okay with us as long as we are inputting roughly around 11,000 a year, which is where we're at.

166
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That's that number that comes out that 800 is not much.

167
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But based on this schedule, we should be able to do better than that.

168
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I thought we would just do a catch-up contribution at the end of the year.

169
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If we have extra funds, we would just toss it in there and keep building that balance.

170
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So it's important to stay on the revenue side of it.

171
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To make sure we keep getting the 5% to 7% increase every year.

172
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And of course, watching our costs, so we get these reserve accounts built back up to where it should be.

173
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Does that make sense?

174
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I have a question.

175
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So this is Jay.

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I mean, I know on this paperwork,

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you're doing it as one entity,

178
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but when we really keep track of the money,

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we do it separately, don't we?

180
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So as far as making additional contributions

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to the same amount of cashmins reserved,

182
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that wouldn't be coming from funds generated

183
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at the Delta Sands.

184
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Or it could.

185
00:14:42,420 --> 00:14:42,540
Yes.

186
00:14:43,860 --> 00:14:45,120
The problem is we'll also.

187
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Yeah, I mean, because we're already at 130,000.

188
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Yeah.

189
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So should we, since we do have some excess and overall,

190
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should we be making some...

191
00:15:00,020 --> 00:15:29,160
Now we're just waiting until the end of the year to see how it plays out. Yeah, let's weigh recommendation. I would weigh. Yeah, we don't have that money. That's not in our account yet. Right. So let's, you know, yeah, I'm not counting tickets for the past. And this is Jim. Well, you don't know yet how much excess amount Catherine will generate either do you? So we don't know that we're going to have to take from Delta to supplement it. I've got some numbers that we can we can look at.

192
00:15:29,160 --> 00:15:37,040
hands is a second but but you're right you know it what is it January the when

193
00:15:37,040 --> 00:15:44,800
every 20th or something like that 28 28 we got a long ways to go yeah we should

194
00:15:44,800 --> 00:15:48,700
have our first deposit at this higher rate which I haven't seen those numbers yet

195
00:15:48,700 --> 00:15:55,020
but that should have come in and so we got a ways to go but based on the current

196
00:15:55,020 --> 00:16:01,220
plan. We should have some extra funds that we can move around. So personally I

197
00:16:01,220 --> 00:16:06,860
wouldn't even look at it until I July. You know take a gander at that point kind

198
00:16:06,860 --> 00:16:10,560
of see where it's going to go. We'll know better at that point times there's

199
00:16:10,560 --> 00:16:14,760
any large projects or anything like that that we're missing or you know so it can

200
00:16:14,760 --> 00:16:20,120
come between now and then. Just cash management just you know just wait until

201
00:16:20,120 --> 00:16:23,800
I think

202
00:16:27,190 --> 00:16:35,470
I brought this up in on our call last fall, but this is important and we need

203
00:16:35,470 --> 00:16:36,210
to remember this.

204
00:16:37,470 --> 00:16:46,650
So when I was talking to Mary Ann, her comment was, and this makes sense, she's probably

205
00:16:46,650 --> 00:16:52,110
seeing this in the banking industry that you've been involved with before, is sometimes

206
00:16:52,110 --> 00:16:59,790
As lenders will want to have the ability if certain things arise that they can take control

207
00:16:59,790 --> 00:17:06,870
of your account and basically make sure they get their money back is what they do.

208
00:17:08,370 --> 00:17:09,810
It's called a DACA agreement.

209
00:17:10,030 --> 00:17:10,630
Remember that, Jay?

210
00:17:11,930 --> 00:17:12,650
Yeah, lots of them.

211
00:17:16,150 --> 00:17:19,350
So I was kind of suspicious about it, so I reached out to the state of Utah.

212
00:17:19,350 --> 00:17:29,070
So we have a count scatter, we have basically two for each entity at a science bank, and then we have, I think we actually have a third one.

213
00:17:29,510 --> 00:17:33,790
I think we have two for each entity at the state.

214
00:17:34,370 --> 00:17:35,690
I think there's a third one there too.

215
00:17:35,910 --> 00:17:39,250
There was four delta sands, either the third one. I have to double check that.

216
00:17:39,570 --> 00:17:46,430
There was one for the required, and then we could put excess and get a hair interest rate at the state.

217
00:17:46,430 --> 00:17:52,430
Yeah, so I called the state and I said, hey, here's Dill, USDA wants to be a

218
00:17:52,430 --> 00:17:56,350
signer on our account and they want this doc agreement. They said, yeah, we don't

219
00:17:56,350 --> 00:18:03,170
do that. So I called Mary Ann, her majoring, and I said, hey, yeah, let's not go on

220
00:18:03,170 --> 00:18:06,430
the state and she said, that's not going to work for us.

221
00:18:08,450 --> 00:18:10,210
I said, well, basically what's

222
00:18:10,210 --> 00:18:14,150
going to happen when they come back and she said, we've got bigger fish to fry

223
00:18:14,150 --> 00:18:21,330
right now, so don't worry about it, but don't be surprised if they come back to us and

224
00:18:21,330 --> 00:18:26,690
force us out of that state account, and so we'd have to just go to normal baking institution

225
00:18:27,270 --> 00:18:31,310
and move that money. Brent, this is Pat, when you say the state account, or are you talking

226
00:18:31,310 --> 00:18:40,650
the funds, the positive at the state get an interest? Correct. And they don't want us to use that state

227
00:18:40,650 --> 00:18:45,250
to count because the state will not give them access as a signer on that account.

228
00:18:46,650 --> 00:18:48,890
They do not enter into the document agreement.

229
00:18:49,150 --> 00:18:55,050
So then we're just stuck, this is Pat, with looking somewhere else to get the best income

230
00:18:55,050 --> 00:18:56,290
that we've done out of it.

231
00:18:56,610 --> 00:18:58,810
It's the state's done a good job with it.

232
00:18:59,570 --> 00:19:01,270
Yeah, I mean, they do a pretty good job.

233
00:19:01,870 --> 00:19:03,930
You know, it's all relative, right?

234
00:19:03,930 --> 00:19:06,910
I mean, so if you look right here in line 1.5

235
00:19:07,930 --> 00:19:14,090
Our total interest last year was 8200 bucks. I mean it's it's

236
00:19:14,810 --> 00:19:19,630
Sorry to say but it's it's a little better than what we probably would have got it's eye and you know, but yeah

237
00:19:20,090 --> 00:19:22,890
It's not going to sink the ship if we go elsewhere

238
00:19:23,690 --> 00:19:28,790
Yeah, and we lose 4,000 bucks a year, you know, it's not a deal breaker for us

239
00:19:28,790 --> 00:19:35,770
So, can we, this is bad, can we set up an account like youth band guard or something like

240
00:19:35,770 --> 00:19:37,670
that if we want to do or had to check?

241
00:19:40,210 --> 00:19:46,910
We use an, this is Vicky, we use an Apple savings account that Goldman Sachs actually

242
00:19:47,730 --> 00:19:55,250
is the one that holds it, but we get like 3.65% right now, which is better than a bank.

243
00:19:57,450 --> 00:19:59,890
That's probably similar to what the state has, isn't it?

244
00:19:59,950 --> 00:20:03,470
I think one of them is time to check.

245
00:20:03,550 --> 00:20:04,610
I want to say it was round five.

246
00:20:05,110 --> 00:20:06,670
It's just under five or something.

247
00:20:10,010 --> 00:20:11,150
This is Jim.

248
00:20:11,430 --> 00:20:13,830
And then you also have to...

249
00:20:13,830 --> 00:20:16,110
I know they said they have bigger fish to fry,

250
00:20:16,230 --> 00:20:17,070
and I'm sure they do.

251
00:20:18,270 --> 00:20:20,810
But you've never had a DACA agreement

252
00:20:20,810 --> 00:20:23,070
in the history of this facility.

253
00:20:23,070 --> 00:20:30,090
I know so maybe they'll get around to you. Maybe they'll their fish will get fried for a few years

254
00:20:30,090 --> 00:20:37,490
You know I brought that up to her and she says I know he says we've overlooked it and she turned it up last fall

255
00:20:39,910 --> 00:20:41,930
They now know about it.

256
00:20:45,830 --> 00:20:51,530
So let's hang it out there. So probably surprise if we get a phone call at some point in time

257
00:20:53,190 --> 00:20:53,710
Okay

258
00:20:53,710 --> 00:20:55,990
Okay, I'm moving on.

259
00:20:57,050 --> 00:21:05,130
So, what you have behind you are the actual budget schedules for each location that are

260
00:21:05,130 --> 00:21:06,850
submitted and to the USDA.

261
00:21:07,330 --> 00:21:08,510
So this was our build-up.

262
00:21:08,590 --> 00:21:11,510
This was just when I worked on it to develop the budgets.

263
00:21:14,750 --> 00:21:20,310
So, I won't go through all that detail because it's all summarized on the front page.

264
00:21:20,310 --> 00:21:26,690
I just wanted you to see it, this is our schedule that we're going to use year in, year

265
00:21:26,690 --> 00:21:34,230
out, and it works pretty good, and then this gets duplicated with the USDA's, so they have

266
00:21:34,230 --> 00:21:41,690
this exact same detail in the same format, and that's how they review our budget and approve

267
00:21:41,690 --> 00:21:42,890
it or deny it.

268
00:21:44,170 --> 00:21:51,570
And that all has to be done before the 1st of October with the USDA.

269
00:21:52,790 --> 00:21:56,190
Which is why we're moving 3rd quarter meeting to September.

270
00:21:56,530 --> 00:21:58,910
So we can review and approve the budget.

271
00:21:59,150 --> 00:21:59,710
Oh, good.

272
00:21:59,970 --> 00:22:03,310
Then we'll review and approve the budget before it has to be submitted.

273
00:22:05,310 --> 00:22:06,330
Yeah, that would be good.

274
00:22:07,370 --> 00:22:09,170
Instead of ratifying it after the fact.

275
00:22:13,060 --> 00:22:16,440
Okay, so I won't go through in detail those two pages.

276
00:22:17,880 --> 00:22:25,180
So the last couple of pages are the actual financial statements for the year end of 2025.

277
00:22:30,750 --> 00:22:38,250
So on the front page, so we have Mt. Catherine first, I know this is at the end of December.

278
00:22:39,310 --> 00:22:47,010
So, we had a total of 66,000 on hand between all of our cash accounts, between the reserve

279
00:22:47,010 --> 00:22:48,410
and our operating accounts.

280
00:22:50,710 --> 00:22:52,130
A account is sameable.

281
00:22:52,290 --> 00:22:53,650
We had a 557.

282
00:22:54,370 --> 00:22:57,450
And those are some little charges that you've been put in your Jessica.

283
00:22:59,350 --> 00:23:01,010
I'd have to go back in and look at the detail.

284
00:23:01,170 --> 00:23:02,250
But these do clear out.

285
00:23:02,810 --> 00:23:10,130
When she invoices folks for the laws and it is you're tracking them and that's where they're rolling through.

286
00:23:10,650 --> 00:23:13,130
I check it and make sure it's clear and out of there.

287
00:23:13,450 --> 00:23:16,760
So you probably didn't know what was happening.

288
00:23:17,560 --> 00:23:22,820
The only thing I would charge people for is they get their rent off by two or three dollars.

289
00:23:23,020 --> 00:23:24,840
And so we carry it forward to the next month.

290
00:23:25,820 --> 00:23:26,860
That's the more now.

291
00:23:29,840 --> 00:23:33,940
Okay, but that one is being recovered as we need it to be.

292
00:23:34,840 --> 00:23:40,840
Undyposit funds, I'd have to look at that 50 bucks and see where that came from.

293
00:23:43,240 --> 00:23:49,420
The fixed assets, this is an area that the auditors kind of worked on I think last year.

294
00:23:49,780 --> 00:23:52,800
So you'll see the change over on the far right hand side.

295
00:23:53,380 --> 00:23:55,500
It's been a change of roughly 40,000.

296
00:23:56,640 --> 00:24:03,820
What that is is the cost of improvements that we had throughout the year, so 35,000

297
00:24:03,820 --> 00:24:04,380
was per billion.

298
00:24:04,560 --> 00:24:15,500
That was mostly for the windows, and then 11,000, that was for furnaces, air conditioners,

299
00:24:16,020 --> 00:24:16,960
and water heaters.

300
00:24:17,120 --> 00:24:20,080
I thought it was not water heaters, but there are a few of those in there.

301
00:24:21,660 --> 00:24:25,040
The current liabilities, I'm going to have to clean this one up.

302
00:24:26,040 --> 00:24:30,060
This accounts payable number, I don't think it's the right number.

303
00:24:31,200 --> 00:24:36,600
I think this is one that Vann has just had a layered in, it's kind of a static number.

304
00:24:37,320 --> 00:24:38,580
So the balance and everything.

305
00:24:39,000 --> 00:24:43,760
Well, no, it really balanced and I think it was just an estimate that he had included.

306
00:24:44,640 --> 00:24:49,740
So we'll probably have to clean that one up when we get to the audit,

307
00:24:52,040 --> 00:24:52,920
tenant security

308
00:24:52,920 --> 00:24:59,880
deposits, they probably ask for a list, don't they, the auditors, though what makes

309
00:24:59,880 --> 00:25:00,580
up that $300.

310
00:25:02,660 --> 00:25:08,880
So we'll go through that one, the long-term liability sample, this is the debt on the buildings

311
00:25:08,880 --> 00:25:09,400
themselves.

312
00:25:20,990 --> 00:25:21,430
So we

313
00:25:23,730 --> 00:25:28,730
have a total of 786,000 outstanding with that entity.

314
00:25:29,390 --> 00:25:31,590
So that's how much more we have left to be forgiven.

315
00:25:37,800 --> 00:25:39,120
Hey, question on balance sheet.

316
00:25:39,860 --> 00:25:41,300
I know we've all three of these financials.

317
00:25:41,340 --> 00:25:43,600
If you're not an account, you really don't understand what it would mean.

318
00:25:45,300 --> 00:25:46,740
So, I know.

319
00:25:47,100 --> 00:25:48,240
I try to.

320
00:25:48,440 --> 00:25:49,600
Are we in trouble?

321
00:25:49,860 --> 00:25:50,380
That's obvious.

322
00:25:50,780 --> 00:25:51,820
Yeah, there you go.

323
00:25:52,900 --> 00:25:54,360
This is Vicky, I actually is curious.

324
00:25:54,660 --> 00:25:57,900
If they're going to eventually forgive us for all of that,

325
00:25:58,480 --> 00:25:59,980
why don't they just do it now?

326
00:26:00,300 --> 00:26:00,660
I don't know.

327
00:26:01,800 --> 00:26:02,780
I would like to know.

328
00:26:04,040 --> 00:26:05,780
I don't know why they don't do it.

329
00:26:06,440 --> 00:26:08,040
If you just don't have to, they won, right?

330
00:26:08,380 --> 00:26:08,560
Yeah.

331
00:26:14,210 --> 00:26:16,010
OK, most of them say equity section.

332
00:26:16,210 --> 00:26:17,350
You won't go to the equity section.

333
00:26:18,410 --> 00:26:21,630
OK, and then we have the profit loss by mouth testing.

334
00:26:23,010 --> 00:26:26,130
So, this indicates where all our loved news came from,

335
00:26:28,340 --> 00:26:30,080
so a hundred and two thousand

336
00:26:30,080 --> 00:26:34,740
in rental income, a little bit in laundry and pot sales.

337
00:26:35,800 --> 00:26:44,320
And you'll see the makeup of the maintenance utilities, administrative expenses, I won't

338
00:26:44,320 --> 00:26:46,540
go through each one of those online items.

339
00:26:46,560 --> 00:26:48,120
This is what I understand.

340
00:26:50,380 --> 00:26:53,880
That was Jerry saying she understood that one.

341
00:26:56,040 --> 00:27:00,680
So you guys probably have seen the numbers so down towards the bottom, under the 900 accounts.

342
00:27:02,130 --> 00:27:04,280
You will see Randall subsidy,

343
00:27:07,350 --> 00:27:09,090
69,000.

344
00:27:10,130 --> 00:27:12,190
So that's that forgiveness of death.

345
00:27:13,240 --> 00:27:15,710
The next line is the forgiveness of the interest.

346
00:27:18,080 --> 00:27:21,280
So those are non-cash entries, you will.

347
00:27:21,280 --> 00:27:34,410
So, this is not right, so the government subsidizes this and they also forgive the value.

348
00:27:34,610 --> 00:27:38,890
Okay, so do we actually get money deposited into an account?

349
00:27:39,250 --> 00:27:39,970
We do.

350
00:27:41,430 --> 00:27:46,630
So we're getting more money than what's forgiven through the census.

351
00:27:46,690 --> 00:27:48,490
Because we have to have operating expenses.

352
00:27:48,490 --> 00:27:59,270
Alright. Okay. Thank you. Good question. Glad you could answer it. Get an initial over the years.

353
00:28:00,430 --> 00:28:09,490
Okay. Delta Sans is the next one. So you see there, we have on hand, 188,000.

354
00:28:11,110 --> 00:28:16,310
And again, that's broken out between the treasure, the Utah Public Treasure, and also

355
00:28:16,310 --> 00:28:17,050
Zion's.

356
00:28:19,510 --> 00:28:26,690
Let's see, I guess it's not worthy to call out on buildings and improvements, but 44,000.

357
00:28:27,110 --> 00:28:30,610
Again, that was for more windows here.

358
00:28:32,990 --> 00:28:35,670
This is Pat, that project's all done, isn't it?

359
00:28:35,710 --> 00:28:36,950
Oh, Windows Act and Replace.

360
00:28:37,170 --> 00:28:37,650
Yes, that is.

361
00:28:37,650 --> 00:28:44,990
Yeah. In both buildings, right? Minor equipment purchases of $1,800.

362
00:28:48,260 --> 00:28:49,600
Again, that accounts payable

363
00:28:49,600 --> 00:28:56,260
number. I'm probably going to have to clean that one up and Jessica and I might have to. When we go

364
00:28:56,260 --> 00:29:01,080
through the audit, we may have to try to determine what accounts payable really was at that time.

365
00:29:02,360 --> 00:29:07,720
Because I think what's happening is when you get ready to pay bills, you log them as a bill and then

366
00:29:07,720 --> 00:29:13,940
you pay them as opposed to and maybe we're just paying it off as we go are we

367
00:29:13,940 --> 00:29:18,820
paying every bill every month yeah yeah I mean by the end of the month there's

368
00:29:18,820 --> 00:29:22,580
probably a small amount that's hanging out there that technically would be an

369
00:29:22,580 --> 00:29:27,340
account payable that wasn't entered but it sounds like it's probably gonna be a

370
00:29:27,340 --> 00:29:33,080
low dollar amount and we can find out on your cash spend a few weeks in January so

371
00:29:33,080 --> 00:29:39,520
maybe this is this is Pat so what you do is you when you get a bill you pet the same day on you

372
00:29:39,520 --> 00:29:46,660
could enter a bill in and it could be a while before you bet. I enter the bill I enter as a bill

373
00:29:46,660 --> 00:29:53,880
in QuickBooks and then I do turn around and write a check for it. So you probably have a file that has

374
00:29:53,880 --> 00:29:58,440
current build do and then when you get ready to cut checks then you put in a quick

375
00:29:58,440 --> 00:29:59,200
friction and pain.

376
00:30:00,000 --> 00:30:19,500
Let's put them in when you first get them. So it's going to be a small number, but I can fix that. So that's the only items I can think of that the auditors would be concerned about. Is that a countable number? So we can prove up on that one as we go.

377
00:30:22,340 --> 00:30:32,020
Anything else on here? Oh, long term debt. So we owe 844,000 left to go on the delta sand.

378
00:30:32,020 --> 00:30:40,220
building. That does decrease every year, went down by roughly $44,000 last year. So, that

379
00:30:40,220 --> 00:30:44,940
kind of gives you an idea of what they are forgiving as we go.

380
00:30:48,440 --> 00:30:49,760
Okay, and then likewise

381
00:30:49,760 --> 00:30:59,040
on the P&L, so one for last year we brought in $117,000 in rental income to see the other

382
00:30:59,040 --> 00:31:04,940
items to services oh yeah that services number is actually part of the rental

383
00:31:04,940 --> 00:31:10,960
income it's just how QuickBooks is reporting the invoices that are being

384
00:31:10,960 --> 00:31:16,560
generated that 41,000 that's actually rental income can

385
00:31:18,740 --> 00:31:19,790
we change it and

386
00:31:20,340 --> 00:31:26,080
show rental income we can we need to go into the items and fix the items there's

387
00:31:26,080 --> 00:31:29,760
items that are pre-designated in QuickBooks and it's just going to a service

388
00:31:29,760 --> 00:31:34,240
number instead of a rental income? Well, how come the doubt the mouth

389
00:31:34,240 --> 00:31:39,720
Catherine didn't have that same line on it? I'm sure it was my fault just the way

390
00:31:39,720 --> 00:31:40,640
that I was putting stuff in.

391
00:31:42,720 --> 00:31:45,160
It seems like it would be terrible that kind of

392
00:31:45,160 --> 00:31:52,180
fault, doesn't it? Was Van the one that kind of set this up to start with? Yeah, he

393
00:31:52,180 --> 00:31:59,980
had it all set up and I haven't dug into you know all that yet so okay

394
00:32:02,180 --> 00:32:02,800
and you

395
00:32:02,800 --> 00:32:09,020
can see the expenses so on and so forth. Now Catherine or sorry got the

396
00:32:09,020 --> 00:32:15,880
sand we do have the payroll expenses here but one thing that to note and maybe

397
00:32:15,880 --> 00:32:19,940
we can do this differently but this is how it's been done forever is the payroll

398
00:32:19,940 --> 00:32:27,380
expenses, that is a net number of the reimbursement of allocated costs from

399
00:32:27,380 --> 00:32:33,700
Mount Cafer. And so he paused that number into this 32,000 and that's why it

400
00:32:33,700 --> 00:32:36,820
looks low if that makes sense.

401
00:32:38,140 --> 00:32:45,180
Yeah, just right. This is Jerry. They just write the word check to her and then it gets

402
00:32:45,180 --> 00:32:55,980
transfer. Well, the way it works is we actually write a check up for about $32, $3300 from Mount

403
00:32:55,980 --> 00:33:02,940
Catherine. And it comes to Delta Sands and you deposit it into your Delta Sands account. And

404
00:33:02,940 --> 00:33:09,040
that's where the credit goes. This is Pat. So was all the payroll come out of the Delta Sands?

405
00:33:11,540 --> 00:33:12,120
Is

406
00:33:13,440 --> 00:33:15,540
it doesn't matter.

407
00:33:19,620 --> 00:33:22,980
So, I mean, that's just the way it's always been done, but if you're

408
00:33:22,980 --> 00:33:25,880
looking at that number and you're thinking, hey, yes, that's not what we're paying

409
00:33:25,880 --> 00:33:31,420
just for you. You're right. But that is a net number. That's just the way it's been done.

410
00:33:35,060 --> 00:33:35,500
Okay.

411
00:33:42,740 --> 00:33:47,960
So, if you flip over to the back side of the last page, you'll see the ramp

412
00:33:47,960 --> 00:33:56,140
and also the interest subsidy number to give you a feel for what that really is, in total.

413
00:34:00,620 --> 00:34:02,320
You were 50 cents off?

414
00:34:03,340 --> 00:34:03,940
Probably.

415
00:34:04,760 --> 00:34:05,060
Oh.

416
00:34:08,220 --> 00:34:08,820
I

417
00:34:10,900 --> 00:34:16,220
know it's a lot of information, but what kind of questions?

418
00:34:17,320 --> 00:34:18,080
Oh, they did good.

419
00:34:18,380 --> 00:34:18,900
This is Jim.

420
00:34:18,900 --> 00:34:25,780
nice that one. One of the things that Van used to hit on fairly heavily when we talk

421
00:34:25,780 --> 00:34:30,820
about stuff like, well why don't they just pass, why don't they just cut us off, because

422
00:34:30,820 --> 00:34:38,680
they want to have their finger in their facilities. At least that's what he said. They don't

423
00:34:38,680 --> 00:34:43,960
want to have you pay them all off so that you're a little more independent from them. That's

424
00:34:43,960 --> 00:34:50,950
the way he described it. I don't know, I'm just sitting back from 20,000 feet, right?

425
00:34:51,510 --> 00:34:59,610
Looking at it, it's like how much engagement they have with Mary Jane. I haven't talked to her in a

426
00:34:59,610 --> 00:35:06,790
year probably. Yeah, there's no oversight. Once we figured out how things got worked, I

427
00:35:06,790 --> 00:35:13,950
didn't need her anymore and she audits every three years, so I haven't seen her in two. Yeah,

428
00:35:13,950 --> 00:35:16,470
I mean, from a management perspective, there's no oversight.

429
00:35:17,150 --> 00:35:19,170
Other than, I mean, there's a couple of things, right?

430
00:35:19,730 --> 00:35:23,010
Which is, you know, the doctor, that we talked about.

431
00:35:23,770 --> 00:35:27,310
They want to see the budget, and they do approve our budgets,

432
00:35:27,890 --> 00:35:29,510
but they don't tell us how to spend our money.

433
00:35:30,570 --> 00:35:32,470
They want to see the audit, too, don't they?

434
00:35:32,570 --> 00:35:32,870
They do.

435
00:35:33,450 --> 00:35:34,470
So they get to see that.

436
00:35:34,570 --> 00:35:36,110
But that's typical of any money and institution.

437
00:35:37,350 --> 00:35:39,730
So there must be some reason that they don't just

438
00:35:40,130 --> 00:35:41,450
do what you suggested.

439
00:35:41,450 --> 00:35:41,870
I don't know.

440
00:35:42,470 --> 00:35:43,530
I'll ask her.

441
00:35:44,030 --> 00:35:47,850
Hey, why don't you just, uh, I don't know what to do with that.

442
00:35:49,870 --> 00:35:51,250
You just give us the money.

443
00:35:51,950 --> 00:35:52,430
Yeah.

444
00:35:52,770 --> 00:35:53,410
Let's see.

445
00:35:54,910 --> 00:35:58,390
No, it's interesting the way in it is work.

446
00:35:58,390 --> 00:36:00,890
I don't really know why they're doing what they're doing.

447
00:36:01,490 --> 00:36:04,350
Well, I'm glad they don't try to micromanage.

448
00:36:04,890 --> 00:36:06,550
So we're glad they gave us the money.

449
00:36:06,790 --> 00:36:06,990
Yeah.

450
00:36:06,990 --> 00:36:14,150
You know, and that they're doing what they're doing, right? It's unusual.

451
00:36:17,810 --> 00:36:18,950
I have a question

452
00:36:18,950 --> 00:36:26,850
this is Jay. So it seems like we talked about maybe Van was the one that controlled

453
00:36:26,850 --> 00:36:32,570
the money on the state level, no local person had access to that. Is that still how it is?

454
00:36:33,130 --> 00:36:38,450
I'm on the account now, but Brent's still the one taking care of it.

455
00:36:38,710 --> 00:36:47,850
Yeah, all I do is, so when you money back, you can just, you get back, we can transfer money out, back in the room.

456
00:36:48,930 --> 00:36:51,730
And did we have an account of Wells Fargo or something somewhere?

457
00:36:52,810 --> 00:36:59,070
I get noticed that there's a statement, but I don't have, I bet has it zeroed out on the books.

458
00:36:59,070 --> 00:37:05,550
I don't know. I think it's closed out but I don't have access. I get an email that there is a statement available

459
00:37:05,550 --> 00:37:09,130
But I can't get to eat the statement, so I don't know what's in it

460
00:37:10,290 --> 00:37:13,810
Yeah, that we probably should check that and see if it really is zeroed out

461
00:37:13,810 --> 00:37:19,810
And they should just get it shut down and just discontinue that service, but maybe there is something in there who knows

462
00:37:20,570 --> 00:37:24,190
Might be zeroed out on our books, but maybe there's money in the account

463
00:37:24,970 --> 00:37:32,850
I'm calling up. This is Jerry. He told me once that that was the account that

464
00:37:35,070 --> 00:37:40,810
Mergen's stuff the money goes into and then he moves it into the other accounts

465
00:37:41,650 --> 00:37:42,590
From there

466
00:37:43,810 --> 00:37:45,570
Clearing the account of some time

467
00:37:45,570 --> 00:37:49,610
I don't know why you need that

468
00:37:49,610 --> 00:37:55,730
Well, he said there was something about, she couldn't put it into science.

469
00:37:56,650 --> 00:38:00,370
That their accounts were in Wells Fargo.

470
00:38:00,550 --> 00:38:03,050
They have to have direct deposits in Wells Fargo.

471
00:38:04,330 --> 00:38:07,490
And then he moved it from there to her.

472
00:38:07,790 --> 00:38:12,850
And that might have been the case at one point, but I think that that's probably resolved.

473
00:38:12,850 --> 00:38:20,870
And last, I double check with Van and he said that it was an idea of what we'll call the bank and see what we can need to close it out.

474
00:38:22,310 --> 00:38:23,210
Thank you so much.

475
00:38:25,740 --> 00:38:28,320
I'm in the brand again. Just a couple more things.

476
00:38:31,500 --> 00:38:38,700
Everything's been filed with the state and then also the feds that we need to report on an annual basis.

477
00:38:38,920 --> 00:38:43,700
That's all been done and also on a quarterly basis. That's all those reports have been taken care of.

478
00:38:43,700 --> 00:38:54,420
There is one report I'm waiting to get access to which is a deposit and investment account report that should be coming any time

479
00:38:55,240 --> 00:38:57,140
as due by the end of the month.

480
00:38:57,760 --> 00:38:59,360
What do you mean by access to?

481
00:39:00,280 --> 00:39:07,420
So there's a reporting system on the state's website that we have to log into and report all these account balances.

482
00:39:08,100 --> 00:39:10,420
And I don't have access to this entity.

483
00:39:11,460 --> 00:39:24,100
So you just request it and and they should give it to me so it shouldn't be a big deal just waiting for that to come through. That's the only report that's not that hasn't been filed yet.

484
00:39:24,620 --> 00:39:35,940
Everything else is all taken care of 1099s. I prepared 1099s based off of what information we have. That's something we need to start collecting.

485
00:39:35,940 --> 00:39:43,540
Yeah, so the employer identification number on anybody who's performing a service for us

486
00:39:43,540 --> 00:39:46,380
That's over six hundred dollars or more

487
00:39:47,560 --> 00:39:51,040
2026 that's going to two thousand. Yeah, so

488
00:39:52,300 --> 00:39:57,700
Keep that in mind. Is that an annual this is bad is an annual figure or monthly that to annual?

489
00:39:58,040 --> 00:40:02,580
Yeah, annual figure. So Jessica you might not have very many that are

490
00:40:03,300 --> 00:40:10,400
over 2,000 yeah I mean there will be a few repairmen that'll that are

491
00:40:10,400 --> 00:40:18,740
pretty consistent with yeah they'll probably be a lot maybe five six a year

492
00:40:18,740 --> 00:40:27,320
there will be a lot but yeah if you'll collect those EIN numbers and then and I

493
00:40:27,320 --> 00:40:32,420
have started I have a few of them but I now work hard on it yeah don't knock

494
00:40:32,420 --> 00:40:37,960
yourself out. We're getting them done by the end of the year. I've been going through

495
00:40:37,960 --> 00:40:44,680
every of these finances for the whole month and it's been a lot. It's surprising when

496
00:40:44,680 --> 00:40:52,220
you look at who you spend money to and who we have to report. So this is Pat. The

497
00:40:52,220 --> 00:40:58,120
thought to come is hard to get that information from your tenants. Yeah. I had to

498
00:40:58,120 --> 00:40:58,660
I'll check them down.

499
00:40:58,940 --> 00:41:01,600
I'll, I'll, what I do my report, I'll tell you, but.

500
00:41:04,520 --> 00:41:09,380
This is Vicki, I, you mentioned that you have to be able to get permission to get

501
00:41:09,380 --> 00:41:12,040
some information that's, have, need to call somebody.

502
00:41:12,700 --> 00:41:15,040
No, it's, it's the administrator at the state.

503
00:41:15,380 --> 00:41:21,800
Oh, and they don't let everybody have access to that reporting mechanism.

504
00:41:22,620 --> 00:41:26,420
Um, so you just, and they, they know who I am.

505
00:41:26,680 --> 00:41:28,440
So it should be pretty simple.

506
00:41:28,440 --> 00:41:29,940
OK, so it shouldn't be a problem.

507
00:41:31,560 --> 00:41:34,360
But that's the only reporting requirement I'm waiting on.

508
00:41:34,440 --> 00:41:35,320
Everything else is done.

509
00:41:37,720 --> 00:41:40,200
Sorry, yes, we're getting close to moving into the audit

510
00:41:40,200 --> 00:41:41,220
with Bill.

511
00:41:41,400 --> 00:41:43,060
I don't know when do they start the audit.

512
00:41:43,520 --> 00:41:43,760
April?

513
00:41:44,280 --> 00:41:45,100
Oh, OK.

514
00:41:46,600 --> 00:41:47,420
Well, that's fine.

515
00:41:47,580 --> 00:41:48,900
We got everything ready to go.

516
00:41:49,500 --> 00:41:53,880
So long story short, I think I got everything buttoned up

517
00:41:53,880 --> 00:41:54,900
because I'm trying to tell you.

518
00:41:54,900 --> 00:41:58,480
This is Jerry. I want to commend.

519
00:42:02,520 --> 00:42:06,620
It is so nice to have all the reports done.

520
00:42:07,200 --> 00:42:15,700
Be able to understand what he's written. I am serious. Thank you. You're welcome.

521
00:42:18,680 --> 00:42:22,960
This is Pat. Based on what I heard happened in the past when you were on the board,

522
00:42:24,020 --> 00:42:31,380
life's much easier now with what you're ingested. I'm very appreciative of that because I don't have to do anything.

523
00:42:36,950 --> 00:42:43,250
No, I don't know how long we've been on QuickBooks Online but you know that's been a great improvement.

524
00:42:44,610 --> 00:42:47,470
Have you ever dealt with it before? It was QuickBooks Online.

525
00:42:48,250 --> 00:42:52,190
Okay, I started learning middle of last year. You wouldn't have liked it.

526
00:42:56,330 --> 00:43:01,110
This place is so much cleaner, although we do have three quick books of counts.

527
00:43:03,290 --> 00:43:08,590
I'm about to the point I'm just going to cancel the credit card and then only put it in for the two that we're using.

528
00:43:09,110 --> 00:43:10,850
They won't stop sending them away.

529
00:43:10,850 --> 00:43:17,010
Yeah, yeah, that's that third one we might want to talk a bill

530
00:43:17,890 --> 00:43:24,470
There's nothing on it. Oh, there's nothing on it. No, it says a film or new or a mouth-catcher a new. There's nothing on it

531
00:43:27,270 --> 00:43:29,030
Yeah, get get rid of it

532
00:43:29,030 --> 00:43:34,870
I thought one bill is using but if he's not

533
00:43:34,870 --> 00:43:41,390
No, and that's I don't think bill use QuickBooks hardly at all. He said he said it out for us

534
00:43:42,450 --> 00:43:47,170
And then Van didn't maintain it, and I didn't have access to what Van has.

535
00:43:47,530 --> 00:43:48,430
Van and Sidney.

536
00:43:48,970 --> 00:43:49,370
Yeah.

537
00:43:52,900 --> 00:43:54,200
Anything else in, right?

538
00:43:54,780 --> 00:43:56,040
No, I don't think so.

539
00:43:56,240 --> 00:43:57,920
I think that's everything I wanted to cover.

540
00:43:58,200 --> 00:43:59,160
Well, we appreciate it.

541
00:43:59,260 --> 00:44:00,160
You're welcome to stay.

542
00:44:00,340 --> 00:44:01,900
Thank you so much for all you do.

543
00:44:03,220 --> 00:44:04,360
I appreciate that.

544
00:44:05,000 --> 00:44:06,060
I will see myself.

545
00:44:07,460 --> 00:44:09,920
Well, for several times, I don't like sharp menus.

546
00:44:10,340 --> 00:44:12,540
Well, thank you.

547
00:44:13,340 --> 00:44:20,580
Well, we'll go back to the agenda and we'll ask if there's any other approval changes

548
00:44:20,580 --> 00:44:24,300
reviewed on the minutes that we need to tell Jim about.

549
00:44:26,650 --> 00:44:28,530
I didn't even touch the ones that you got.

550
00:44:29,990 --> 00:44:40,670
Well, we're spell on Derek, D-E-R-E-K, instead of D-E-R-R-I-C-K, and Vicki noticed that I was

551
00:44:40,670 --> 00:44:47,490
nice enough to make him a Anderson instead of a Christianson. So, we'll fix that. I think

552
00:44:47,490 --> 00:44:52,410
that's the only two things that I know of. Wasn't it two months ago that I was Pat Simonson?

553
00:44:52,890 --> 00:44:58,410
Well, you still are a lot of things. You've noticed when I call the role, I go, I go,

554
00:44:58,890 --> 00:44:59,810
Jerry, I go

555
00:45:06,750 --> 00:45:15,610
All right. It needs to just read it off. Right on my wrist. Are there any other changes

556
00:45:15,610 --> 00:45:19,290
that need to be made to the minutes? I'd entertain a motion to approve the minutes.

557
00:45:28,410 --> 00:45:29,250
I make a motion

558
00:45:29,930 --> 00:45:36,090
improve all of all in favor say aye or are there any of both all right then we're

559
00:45:36,090 --> 00:45:42,210
done with the minutes guess who's out okay so we have been every year we have

560
00:45:42,210 --> 00:45:48,150
to recertify everyone's income and their medical expenses we take there we

561
00:45:48,150 --> 00:45:55,770
take their income most people got a 2.8% cost of the increase some are W2

562
00:45:55,770 --> 00:46:00,830
wages and so that's going to vary to you and then you can craft out any medical expenses.

563
00:46:01,870 --> 00:46:04,910
And what you do that for all 55 tenants in one month.

564
00:46:07,150 --> 00:46:12,150
So sometimes it's as much as two pieces of paper and I can get it done in 30 seconds then

565
00:46:12,150 --> 00:46:17,650
we move on and sometimes the stack is this thick and we're writing down receipts and every

566
00:46:17,650 --> 00:46:18,270
single expense.

567
00:46:18,750 --> 00:46:22,830
And so the red is charged by what their income the previous year was.

568
00:46:22,830 --> 00:46:29,490
So, yeah, 2025 income, well, no, sorry, it is going to be what the income they're going

569
00:46:29,490 --> 00:46:34,650
to get this year, so they all got their social security statements and so the income that

570
00:46:34,650 --> 00:46:39,210
they're going to expect this year and we subtract it from medical expenses that they actually

571
00:46:39,210 --> 00:46:41,790
paid out of pocket from $20.25.

572
00:46:42,590 --> 00:46:48,050
And then that's their adjusted income and then we take the 30% and that's what they're

573
00:46:48,050 --> 00:46:48,210
right.

574
00:46:48,370 --> 00:46:49,310
Rent is based off of.

575
00:46:49,310 --> 00:46:56,770
so it's um you asked if it was hard to get that paperwork it's takes threats of

576
00:46:56,770 --> 00:47:03,210
your rent's gonna be $1,032 if I don't get the paperwork back today and she needs

577
00:47:03,210 --> 00:47:03,890
a new pair.

578
00:47:06,270 --> 00:47:13,430
I made my point. Are you that social with them? It scares them enough they give them

579
00:47:14,450 --> 00:47:17,130
And then sometimes I'm still not another door.

580
00:47:17,210 --> 00:47:20,530
So he skipped a piece over there by your phone.

581
00:47:20,730 --> 00:47:20,830
Right.

582
00:47:21,230 --> 00:47:21,470
OK.

583
00:47:22,970 --> 00:47:30,430
So yeah, that today was the last day in Delta the before the first is on Sunday.

584
00:47:30,570 --> 00:47:32,490
And so I have to have everything in by the first.

585
00:47:33,010 --> 00:47:38,230
So today I was still there at 230 trying to get everything put in.

586
00:47:38,310 --> 00:47:39,330
And we got everything put in.

587
00:47:39,350 --> 00:47:42,590
But I had to carry some stuff over to film where they're a little bit more on top

588
00:47:42,590 --> 00:47:45,670
of it, but there's also 11 less tenants.

589
00:47:47,850 --> 00:47:51,190
It makes a difference. There's two or

590
00:47:51,190 --> 00:47:55,290
still two or three that are dragging their feet tomorrow, so we'll go and knock on

591
00:47:55,290 --> 00:47:59,870
their door tomorrow, but hopefully we'll have everything done before the deadline

592
00:47:59,870 --> 00:48:12,330
and I don't have to work on Saturday. But if I have to work on Saturday, we'll get it

593
00:48:12,330 --> 00:48:16,330
And then they pay, they don't get a subsidy and they pay the full, full amount, which is

594
00:48:16,330 --> 00:48:17,330
about $32.00.

595
00:48:18,030 --> 00:48:18,110
So.

596
00:48:18,470 --> 00:48:22,710
Well, it's just amazing that they are not more pro-operative and just really excited to get

597
00:48:22,710 --> 00:48:23,590
to that information.

598
00:48:23,970 --> 00:48:24,130
Yeah.

599
00:48:24,430 --> 00:48:25,470
Well, because it's not easy.

600
00:48:25,770 --> 00:48:29,190
It's you have to pay attention throughout the whole year and you have to collect it or

601
00:48:29,190 --> 00:48:32,290
you have to make phone calls at the end of the year and say, can you give me a statement

602
00:48:32,290 --> 00:48:37,170
for everything that they paid and it's hard for some people to do that.

603
00:48:41,690 --> 00:48:42,090
Yeah.

604
00:48:42,090 --> 00:48:47,630
elderly, they're disabled. A lot of them have mental health problems and it's

605
00:48:47,630 --> 00:48:58,110
just hard to do daily living things. This is Jerry and as an elderly person, I can

606
00:48:58,110 --> 00:49:02,870
tell you it sure is a whole lot easier to sit on your couch a much too.

607
00:49:05,970 --> 00:49:10,910
So sometimes they only give me their income so I'm like okay we'll figure that and

608
00:49:10,910 --> 00:49:12,750
And then it's like $100 a piece of mic.

609
00:49:13,010 --> 00:49:15,190
So let's go back through, print out all of your statements.

610
00:49:15,410 --> 00:49:16,270
And then we go with the highlighter

611
00:49:16,270 --> 00:49:18,750
and we say, oh, that's a payment for medical expenses.

612
00:49:19,150 --> 00:49:20,050
And we go back through.

613
00:49:20,590 --> 00:49:23,870
And we refigured their rents two or three times some of them

614
00:49:23,870 --> 00:49:27,110
because they're like, oh, I have this piece of paper now.

615
00:49:27,110 --> 00:49:28,390
I'm like, okay, let's do it.

616
00:49:29,590 --> 00:49:33,830
I want you to pay as little as you possibly can

617
00:49:33,830 --> 00:49:35,530
because we get paid anyway.

618
00:49:35,870 --> 00:49:37,250
So that's my job.

619
00:49:37,510 --> 00:49:39,110
Let's get it as low as we possibly can for you.

620
00:49:39,110 --> 00:49:44,770
It's true. Yeah, it's nice you're helping them out so much. Yeah, this is Jim. So run me through

621
00:49:46,450 --> 00:49:54,030
So on the first of January's when you start this I do because that's most people don't get their social security statements until

622
00:49:54,030 --> 00:50:01,210
Starting January their tax documents start coming. So when do you start

623
00:50:01,990 --> 00:50:04,190
Writing the drastic modes

624
00:50:09,110 --> 00:50:27,930
So they get noticed in December it says you need to have, you have 30 days and so about December 15th I get, I send out a note said by January 15th we need to have everything and so after the January 15th I start posting the individual letters that just on the doors of the people that I don't have.

625
00:50:28,410 --> 00:50:32,190
Well it's okay with me if you sent the nasty note a little earlier.

626
00:50:43,590 --> 00:50:44,230
Okay,

627
00:50:47,230 --> 00:51:01,070
so Brent isn't just about all certified. We've had, in the budget, we, Brent and I talked about, we need to plan for three appliances, three of every appliance in both facilities.

628
00:51:01,070 --> 00:51:04,390
to be replaced just as they go out.

629
00:51:05,050 --> 00:51:11,310
This is Pat, a question of three of every appliance per apartment, or one of one of the

630
00:51:11,650 --> 00:51:12,190
For complex.

631
00:51:12,450 --> 00:51:12,590
Yeah.

632
00:51:12,970 --> 00:51:17,870
So three water heaters, three furnaces, three, just the big major appliance.

633
00:51:18,110 --> 00:51:18,890
Is that for the year?

634
00:51:19,170 --> 00:51:19,310
Yeah.

635
00:51:19,830 --> 00:51:21,290
There's just what we budget for.

636
00:51:21,710 --> 00:51:27,650
We've had four water heaters go out in the last month and a half, but.

637
00:51:31,550 --> 00:51:38,150
but I still think we're still have a room in the budget because those are just water heaters.

638
00:51:38,210 --> 00:51:43,290
We haven't replaced furnaces and air conditioners. I mean we've we've built in a cushion to that

639
00:51:43,290 --> 00:51:49,310
but it seems like it's been a lot of water heaters. But they're all they're all from the 80s.

640
00:51:49,430 --> 00:51:53,390
We know that they all need to be replaced as soon as something's like my water okay we'll get

641
00:51:54,190 --> 00:51:59,270
They just keep one on order for us at Ropers and they do this, yeah.

642
00:52:00,530 --> 00:52:04,070
We get them in as soon as we can because you can't go without hot water.

643
00:52:04,290 --> 00:52:06,090
This is pad of the electric or gas.

644
00:52:06,330 --> 00:52:08,650
They're electric, yeah.

645
00:52:09,850 --> 00:52:11,830
Everything at the sand is electric.

646
00:52:13,630 --> 00:52:20,290
The gas bill, I think there is like one or two appliances in the laundromat that are gas,

647
00:52:20,290 --> 00:52:25,650
Yes, though my guess goes like $30, the electric bill is about $3,500.

648
00:52:30,190 --> 00:52:38,410
But the repairs were staying on top of repairs and I have not had any complaints.

649
00:52:39,390 --> 00:52:46,150
We try to get to them within the same week, but if they're important things like water

650
00:52:46,150 --> 00:52:52,930
heaters we trained it within a day or so and Clint's really good about getting making

651
00:52:52,930 --> 00:53:00,290
time in his schedule to come and do that, of course, so any questions as far as the management?

652
00:53:02,690 --> 00:53:07,770
No, this is Pat, we really appreciate all that you do, and it doesn't hurt my feelings

653
00:53:07,770 --> 00:53:11,990
a bit that you're spending a lot of time getting Jim to sign a chance, though they aren't

654
00:53:11,990 --> 00:53:13,870
I don't find it getting the schedule out there

655
00:53:13,870 --> 00:53:15,250
for one or two days a week.

656
00:53:16,190 --> 00:53:19,050
Jim is convenient because he's just across the street

657
00:53:19,050 --> 00:53:21,090
and I know when he's going to be there, so.

658
00:53:22,290 --> 00:53:22,990
I don't know.

659
00:53:23,530 --> 00:53:25,010
No, this is Jim.

660
00:53:25,170 --> 00:53:28,810
I know when it was unusual because about a week ago

661
00:53:28,810 --> 00:53:31,050
on a Thursday, she called me and said,

662
00:53:31,710 --> 00:53:33,050
can you sign Chebs today?

663
00:53:33,150 --> 00:53:35,770
And I said, well, if you want to bring them up to Sandy,

664
00:53:35,970 --> 00:53:37,530
I can, but I'm going to go up today.

665
00:53:38,070 --> 00:53:41,130
And so I said, but I will be home tomorrow,

666
00:53:42,890 --> 00:53:47,550
and I'll be home all day if you want to, and I never heard anything from her.

667
00:53:47,710 --> 00:53:49,690
And I'm like, if you mad at me, I'd be home Friday.

668
00:53:51,250 --> 00:53:53,130
I worked my other job that Friday.

669
00:53:55,090 --> 00:53:55,530
Anyway.

670
00:53:57,030 --> 00:53:59,770
Well, are we ready to move on to the next item then?

671
00:54:00,710 --> 00:54:03,290
Okay, have you, did you make coffees as the proposal?

672
00:54:05,670 --> 00:54:08,710
Jessica called me a while ago and gave me a head jacket.

673
00:54:08,710 --> 00:54:18,470
that the auditor, I've got a coffee here so that our auditor felt like he wanted to increase

674
00:54:18,470 --> 00:54:24,990
his fees, he said he hadn't, I think in here it says 10 years, something like that he

675
00:54:24,990 --> 00:54:26,370
hasn't increased it, I don't know.

676
00:54:28,630 --> 00:54:37,090
And he's made a proposal there, you'll see, he's added 1,000 every year, up to 2,000, 27

677
00:54:37,090 --> 00:54:39,330
and then it's over the $13,000.

678
00:54:40,730 --> 00:54:44,570
Now, you may not remember, it was Bill that suggested

679
00:54:44,570 --> 00:54:50,150
that we put an RFP out for new account

680
00:54:50,150 --> 00:54:51,990
to then save this quite a bit of money.

681
00:54:52,390 --> 00:54:52,830
Oh yes.

682
00:54:53,270 --> 00:54:57,350
And so, and it's, we haven't had any penalties

683
00:54:57,350 --> 00:55:00,770
at the state or the feds lady and appreciate it.

684
00:55:01,290 --> 00:55:03,690
And did we have penalties in the past?

685
00:55:03,950 --> 00:55:04,190
We did.

686
00:55:07,290 --> 00:55:15,310
They even reversed some of the penalties they they called we were being assessed late fees and they called and said

687
00:55:15,310 --> 00:55:18,850
We're new, and so like, okay, we'll drop that off and celebrate it.

688
00:55:20,370 --> 00:55:21,730
Yes, I'm sorry.

689
00:55:22,910 --> 00:55:24,870
That may I last a little bit.

690
00:55:25,810 --> 00:55:35,090
But anyway, he's requesting a fee increase starting next year.

691
00:55:35,310 --> 00:55:40,790
Starting this year, 2026, he's been 11,000, he's starting this year, 2026 to 12,

692
00:55:40,790 --> 00:55:46,310
and then 2027 goes up to 13 and he's holding that up to 2029.

693
00:55:47,230 --> 00:55:50,610
This is something that if you have any discussion,

694
00:55:50,970 --> 00:55:51,510
we need discuss.

695
00:55:51,750 --> 00:55:55,190
If not, we need to take an action of a criminal with his approval on it.

696
00:55:57,220 --> 00:55:58,760
So I'll entertain any discussion.

697
00:56:00,160 --> 00:56:03,500
Well, I mean, this is Jim. I mean, I'm sure you're going to have to do it.

698
00:56:04,120 --> 00:56:05,880
I guess my only question is,

699
00:56:05,880 --> 00:56:15,460
is disinflation gone up from 11,000 to 13,000 in the last 10 years because it probably

700
00:56:15,460 --> 00:56:22,160
has, but I mean, he's good, so I'm actually going to have to pay it.

701
00:56:22,340 --> 00:56:27,600
Well, our other option would be to look for another auditor, which I'm not sure I want

702
00:56:27,600 --> 00:56:29,320
to do that at this point in time.

703
00:56:29,320 --> 00:56:35,540
And we could do it another time, but we just went through the, getting a new account

704
00:56:35,540 --> 00:56:38,820
and I'm not sure I want to do, get another auditor.

705
00:56:39,500 --> 00:56:46,800
I am waiting towards doing the approval, but I need, if there's not any discussion,

706
00:56:46,980 --> 00:56:49,640
if somebody wants to make a motion, then we'll see where it goes.

707
00:56:49,900 --> 00:56:50,440
This is Jessica.

708
00:56:50,700 --> 00:56:57,740
Is he asking to have a contract through 2029 or is just willing to hold that number for us through 2029?

709
00:56:57,740 --> 00:57:04,720
And he talked about once we get this done, giving us a contract that matches that.

710
00:57:04,860 --> 00:57:05,700
Is that what you're asking?

711
00:57:05,820 --> 00:57:05,960
No.

712
00:57:06,280 --> 00:57:13,180
Are we agreeing to work with him for the next four years or just next year expect $1,000

713
00:57:13,180 --> 00:57:13,300
a year?

714
00:57:13,300 --> 00:57:13,440
Hi.

715
00:57:13,840 --> 00:57:15,120
That's a good question.

716
00:57:15,360 --> 00:57:21,920
I don't know that if we approve this, that it says we have to stay with him, I don't know.

717
00:57:24,120 --> 00:57:31,060
I'm assuming without a letter from him signed by us saying that we do want to keep you

718
00:57:31,060 --> 00:57:32,980
all that time, I think he'd have a hard time.

719
00:57:33,120 --> 00:57:33,220
Yeah.

720
00:57:33,500 --> 00:57:38,120
Well, I do know that he wants to do an engagement letter, so it would be a contract.

721
00:57:38,320 --> 00:57:43,260
I just didn't know if his expectation was a four-year engagement letter or one year, and

722
00:57:43,260 --> 00:57:48,380
then we, the next year, were expecting to pay the $1,000 extra and do it another year.

723
00:57:48,380 --> 00:57:49,880
I don't have an answer to that.

724
00:57:51,580 --> 00:57:53,360
I can call him and ask him.

725
00:57:54,020 --> 00:57:56,760
And I'm sure he would be fine.

726
00:57:56,840 --> 00:57:58,680
If we tell him we're all going to do a one-year engagement

727
00:57:58,680 --> 00:58:00,940
letter, I think sure he would be fine with that.

728
00:58:00,960 --> 00:58:02,080
That would be my preference.

729
00:58:03,120 --> 00:58:03,420
Really?

730
00:58:03,880 --> 00:58:04,040
Yes.

731
00:58:05,020 --> 00:58:05,180
Yeah.

732
00:58:05,340 --> 00:58:08,180
The reason I say that is, I doubt there

733
00:58:08,180 --> 00:58:10,640
would be anything that would cause us any grief.

734
00:58:10,640 --> 00:58:14,080
But if something comes up that does cause us some grief,

735
00:58:14,460 --> 00:58:15,960
a one-year engagement letter gives us

736
00:58:15,960 --> 00:58:18,660
a lot of options to be able to look at.

737
00:58:18,660 --> 00:58:26,880
Well, I think in that you can put what options you want in that, but agree to this amount

738
00:58:26,880 --> 00:58:27,880
if we keep them.

739
00:58:28,540 --> 00:58:33,620
Well, we can agree to this amount in this meeting, but each engagement letter will have that

740
00:58:33,620 --> 00:58:34,620
amount every year.

741
00:58:35,100 --> 00:58:39,900
That way, if we decide we don't want to use it anymore, we're not liable for breaking

742
00:58:39,900 --> 00:58:40,580
a contract.

743
00:58:41,980 --> 00:58:46,920
I think you'll probably hold the numbers, but we can verify before.

744
00:58:48,760 --> 00:58:50,560
I could probably get him on the phone right now.

745
00:58:51,140 --> 00:58:53,340
I think we need to keep him.

746
00:58:53,940 --> 00:58:55,960
Well, is it common?

747
00:58:56,340 --> 00:58:57,940
We did do a one-year engagement letter.

748
00:58:58,500 --> 00:59:02,480
We did do anything last year, but we did do a one-year before.

749
00:59:05,540 --> 00:59:08,380
So I don't know what he did send me an engagement letter this year.

750
00:59:09,040 --> 00:59:09,760
For this year?

751
00:59:09,760 --> 00:59:15,260
Yes, okay, you can't promise me he's gonna go any going to and then when you called on this a son

752
00:59:15,260 --> 00:59:20,200
I'm not seeing it. Oh, you know, we'll do that now. I'm not remembering if he has or

753
00:59:26,560 --> 00:59:32,580
I'll take check with him and I'll get a copy for you if you don't have one. Yeah, we'll put it in the file

754
00:59:32,580 --> 00:59:39,660
This is Valerie. I don't have a problem with increasing that seems to me like with things lining up

755
00:59:39,760 --> 00:59:45,980
the way they are, his job is a lot less work now than it has been in the US, right?

756
00:59:46,920 --> 00:59:56,640
He still has to come on-site and we check actual hard copy files and we go through, we'll

757
00:59:56,640 --> 00:59:59,700
go through the tenet bowels or go through

758
01:00:00,000 --> 01:00:29,900
checks. We'll go through just all the various things that he wants to, he just gives me random numbers on the day of and verifies everything's there and then we do that. We go to film harm, we do that all over again. So he does spend a full day with us and then, yeah, he's not going to have to go back and force to say, and now I need this and now I need this, it'll be provided for him on the first try, but I don't know that that's his service. I don't know that his

759
01:00:29,900 --> 01:00:35,260
services will be any less. It's like his job, what's required of him to do for the

760
01:00:35,260 --> 01:00:39,080
audit won't change. No. Right. It's good. It's good. The same amount of work he'll

761
01:00:39,080 --> 01:00:44,460
just have less trouble getting all the numbers. That's what I was going to say. You're right.

762
01:00:48,150 --> 01:00:54,610
I make a motion that we accept to numbers and if you want to fight your engagement or

763
01:00:54,610 --> 01:01:00,450
for your engagement. Well I think we need to just say yes we want to numbers or we

764
01:01:00,450 --> 01:01:06,730
know and then go with I don't want to I would for not to make a motion on the

765
01:01:06,730 --> 01:01:10,570
engagement letter until I talk to him and we can do that on the next one yeah let's

766
01:01:10,570 --> 01:01:18,760
just say we accept these amounts are not and that's your motion yeah I have

767
01:01:18,760 --> 01:01:22,300
a question real quick this is Valerie so we have had him as the auditor for

768
01:01:22,300 --> 01:01:30,720
past ten years no no we had no auditor for a while okay so how long has he

769
01:01:31,760 --> 01:01:38,340
I know when he came in 24 he was doing a two-year catch-up, so I don't know what happened

770
01:01:38,340 --> 01:01:41,200
before that, but he was 23 and 24 at this time.

771
01:01:41,200 --> 01:01:46,020
He makes a comment in the second paragraph, this is Pat, this is while we have not increased

772
01:01:46,020 --> 01:01:47,340
fees in ten years.

773
01:01:49,140 --> 01:01:50,820
That's where I got that ten years ago.

774
01:01:51,720 --> 01:01:59,460
But that's for his business, because he hasn't been well for every minute.

775
01:01:59,460 --> 01:02:01,180
Maybe he was here before.

776
01:02:02,120 --> 01:02:06,860
I don't know how long he has been auditing for quite some time, but I don't know how long.

777
01:02:08,820 --> 01:02:16,600
I know he's changed companies, but it's been bill, no matter what the name of the company

778
01:02:16,600 --> 01:02:16,940
has been.

779
01:02:18,800 --> 01:02:20,200
And we have to have it.

780
01:02:20,300 --> 01:02:21,840
We're supposed to have an audit every year.

781
01:02:22,580 --> 01:02:22,700
Yes.

782
01:02:23,320 --> 01:02:28,820
Every board I'm on, or committee, we get audited every year.

783
01:02:29,100 --> 01:02:29,260
Right.

784
01:02:29,260 --> 01:02:35,160
Yeah. No, it's busted. So Vihiti, you know, it's common to just do a one-year

785
01:02:35,560 --> 01:02:40,780
engagement. I don't know. Does that come up in any of your other? No, then you've got me curious.

786
01:02:41,360 --> 01:02:45,560
I'm going to ask him next time. I can try getting him on the phone right now, if you guys would like to

787
01:02:45,560 --> 01:02:51,400
do that before we finalize. I don't think it's, I don't think a one-year engagement letter should be a problem.

788
01:02:51,740 --> 01:02:55,420
Okay, and that's what I wanted to ask you about. I said check on a one-year engagement letter

789
01:02:58,020 --> 01:03:03,420
I'll ask you that and then we can bring that up and approve that and then there's a motion on the table.

790
01:03:04,020 --> 01:03:05,580
Yeah, well, there's a discussion.

791
01:03:05,760 --> 01:03:06,720
I second the motion.

792
01:03:06,980 --> 01:03:09,540
Okay, I've got a first and a second after the discussion.

793
01:03:11,300 --> 01:03:12,040
All in those.

794
01:03:12,260 --> 01:03:12,800
Let's hear.

795
01:03:12,920 --> 01:03:13,600
I get confused.

796
01:03:13,780 --> 01:03:14,200
This Jim.

797
01:03:14,300 --> 01:03:15,480
Let's hear the motion again.

798
01:03:15,720 --> 01:03:19,080
It's to accept these numbers to pay for that.

799
01:03:19,260 --> 01:03:20,700
We accept all of the numbers.

800
01:03:20,740 --> 01:03:22,360
The numbers that Bill had.

801
01:03:26,880 --> 01:03:36,280
We're not committing to a certain number of years right now, but if we go with him those will be the number split.

802
01:03:36,420 --> 01:03:39,020
We have to commit to the 12,000 for this year.

803
01:03:39,220 --> 01:03:41,060
So right now, that would be committing to a certain number of years.

804
01:03:41,060 --> 01:03:42,940
But he's going to start with either way.

805
01:03:44,060 --> 01:03:46,920
I wanted to agree to all of it.

806
01:03:47,580 --> 01:03:48,840
That's the motion you made.

807
01:03:49,540 --> 01:03:57,500
So you're okay with that second and that motion for all the years, right?

808
01:03:58,020 --> 01:03:58,140
Yes.

809
01:03:58,500 --> 01:03:58,720
Okay.

810
01:03:59,320 --> 01:03:59,800
Okay.

811
01:04:00,160 --> 01:04:01,260
Are we ready to take a vote?

812
01:04:01,480 --> 01:04:02,340
And any other discussion?

813
01:04:03,280 --> 01:04:05,200
Yeah, that's the time for the discussion.

814
01:04:05,640 --> 01:04:05,840
Yeah.

815
01:04:06,040 --> 01:04:07,220
Well, I'm 30 left.

816
01:04:07,340 --> 01:04:08,100
I can't remember.

817
01:04:08,480 --> 01:04:09,940
Am I a voting member?

818
01:04:10,600 --> 01:04:10,780
No.

819
01:04:10,780 --> 01:04:11,500
I don't think so.

820
01:04:11,640 --> 01:04:11,780
Okay.

821
01:04:12,120 --> 01:04:13,500
Not our advisory.

822
01:04:14,180 --> 01:04:18,140
Because I knew I couldn't vote on the road one on one.

823
01:04:19,820 --> 01:04:26,460
So the motion is on the table has been seconded all those in favor of the motion signified by I I

824
01:04:26,460 --> 01:04:29,840
Are there any opposed the motion carries now?

825
01:04:31,340 --> 01:04:33,760
And I will check on the engagement letter

826
01:04:35,800 --> 01:04:37,960
Okay, we're up to new business

827
01:04:37,960 --> 01:04:43,060
So I have a question real quick. So we have an understanding of bill that he will be our auditor for this year, 2026

828
01:04:44,420 --> 01:04:46,080
Yes, yes, so we're at with

829
01:04:46,080 --> 01:04:51,120
Okay. Okay. Yeah, he's already working on it. Okay.

830
01:04:54,030 --> 01:04:56,810
Okay. New business, any new business?

831
01:04:56,950 --> 01:05:01,430
Jessica mentioned something I didn't have a proposal on something. Yeah, I did. Does anybody

832
01:05:01,430 --> 01:05:08,230
else? I don't know if I guess you're the only one. So lucky me. So I noticed that we have

833
01:05:08,230 --> 01:05:14,950
lots of money and my wife always told me when you have lots of money hurry up and spend it.

834
01:05:14,950 --> 01:05:29,910
from before she did. And so I asked Jessica well I talked to a solar installation

835
01:05:29,910 --> 01:05:38,570
person to get a ballpark figure of what it would cost to to put solar on the

836
01:05:38,570 --> 01:05:46,630
sands. And it's a lot. Oh, I know. It's just on my house. But, oh, have you done that? Oh, yeah.

837
01:05:46,710 --> 01:05:51,330
I should ask you who to talk to you. I've only talked to one guy who's up in Salt Lake. He's really

838
01:05:51,330 --> 01:05:57,890
nice. But of course, you'd need to, if we had any interest in it, you'd need to look into a farther

839
01:05:57,890 --> 01:06:06,150
than I've been able to do in the last two weeks. But, but he did say it would, to, to put on that

840
01:06:06,150 --> 01:06:11,750
facility, he looked up the building and sized and everything. He said to put it on that

841
01:06:11,750 --> 01:06:18,810
building that would reduce the electricity by 50 percent, it would cost $200,000.

842
01:06:20,070 --> 01:06:25,810
It would cost you 50 percent, unless you've got backup matters.

843
01:06:28,380 --> 01:06:29,780
Which way does your house face?

844
01:06:30,140 --> 01:06:31,980
We don't have the backup matters.

845
01:06:34,340 --> 01:06:36,520
Well, I know, but which way does your house face?

846
01:06:41,100 --> 01:06:47,200
I don't know how much surface area because we put Ed and I installed our own but we put

847
01:06:47,200 --> 01:06:51,600
them on the ground behind our house which is what we should have done.

848
01:06:51,780 --> 01:06:59,040
And we actually make more than we use but it goes back and on to the grid but they store

849
01:06:59,040 --> 01:07:00,200
it for us for free.

850
01:07:00,760 --> 01:07:01,200
Yeah.

851
01:07:01,800 --> 01:07:04,000
So would you like to be our installers?

852
01:07:05,320 --> 01:07:06,800
I don't want to be like that.

853
01:07:06,980 --> 01:07:07,960
If you don't want to be like that, it's really easy.

854
01:07:08,520 --> 01:07:10,300
You actually have to do roof mount.

855
01:07:10,460 --> 01:07:11,680
You can't do it on the ground.

856
01:07:12,280 --> 01:07:12,340
Yeah.

857
01:07:12,840 --> 01:07:15,000
Well, that's what I figured it was going to be.

858
01:07:15,180 --> 01:07:19,160
You can do them on the ground, but it has to be a sort of square footage.

859
01:07:19,640 --> 01:07:19,760
Yeah.

860
01:07:20,220 --> 01:07:20,840
Probably less than one.

861
01:07:20,840 --> 01:07:21,860
Which this wouldn't qualify.

862
01:07:21,920 --> 01:07:24,160
We don't have the room unless we use the parking lot.

863
01:07:24,640 --> 01:07:25,560
No, it wouldn't qualify.

864
01:07:26,220 --> 01:07:31,780
So then with the amount of roof space, the amount of soil panels that they could install, it

865
01:07:31,780 --> 01:07:33,740
could reduce the power bill by 50%.

866
01:07:33,740 --> 01:07:35,700
That's what he says, and that's what he does.

867
01:07:35,700 --> 01:07:37,760
You said you're paying close to $3,500 a month?

868
01:07:37,800 --> 01:07:40,240
I put together the last three years

869
01:07:40,240 --> 01:07:45,540
and they can get it to print, but it's about $36,000 a year for a power.

870
01:07:46,540 --> 01:07:51,020
And so we're talking $18,000, and then it's going to cost $200,000 or...

871
01:07:51,020 --> 01:07:52,420
So it's about 11 years.

872
01:07:53,020 --> 01:07:54,900
And that's all ballpark stuff.

873
01:07:55,240 --> 01:07:59,180
There's also, I don't think Trump has quite gotten rid

874
01:07:59,180 --> 01:08:01,220
of all the solar credits yet.

875
01:08:01,300 --> 01:08:02,480
I'm sure it's on his desk.

876
01:08:02,480 --> 01:08:03,960
Well, we don't pay taxes.

877
01:08:05,580 --> 01:08:06,100
Well, it's

878
01:08:08,530 --> 01:08:13,050
always somebody that has to shoot my blue limbs down.

879
01:08:15,230 --> 01:08:18,750
There's something about the power company that might give you a thousand dollars.

880
01:08:20,750 --> 01:08:29,930
Well, I'll tell you, we're not getting the amount back from the power company that we got the first three years.

881
01:08:29,930 --> 01:08:37,490
Yeah, the efficiency does slowly decrease on the scale, and that's only been three years.

882
01:08:37,710 --> 01:08:42,490
Yeah, which is way too bad, because I don't think this is better than that.

883
01:08:43,070 --> 01:08:48,670
This is Pat, and my math skills are not what they used to be, but if I use a figure of 3500

884
01:08:49,550 --> 01:08:57,620
and a client 50%, that comes up at 1750, and your time's at by 12, watch me Jay, can't

885
01:08:57,620 --> 01:09:09,560
No, so it was thirty five thirty six thousand for the year. Okay. All right. So that's 18,000. Yeah, 18,000 and over 20 years

886
01:09:09,560 --> 01:09:16,960
Is that the life expectancy of the solar system? No, that's what I need to know. They do start increasing in the efficiency and they

887
01:09:16,960 --> 01:09:19,840
Figured 20 years is pretty much all you can

888
01:09:20,580 --> 01:09:27,600
Get up there and clean them. So are they still pretty good in tandem or 12? Yeah, ours are but all

889
01:09:27,620 --> 01:09:32,840
You can't clean them with regular water because it'll leave hard water spots on them

890
01:09:32,840 --> 01:09:40,380
So you just kind of have to let the rain or snow clean them. Yeah, I should use 18,000 if you can bank on that 50%

891
01:09:41,960 --> 01:09:43,540
I don't know is that

892
01:09:45,300 --> 01:09:46,660
Can you make that pay?

893
01:09:47,680 --> 01:09:52,060
Actually, in a thousand it would take and if we can hold the 50%

894
01:09:52,060 --> 01:09:55,820
We it would take a little over 11 years. Yeah, yeah

895
01:09:55,820 --> 01:10:02,500
And then they probably down do a 30% efficiency of 11 years.

896
01:10:02,980 --> 01:10:04,780
But they'd be paid off too.

897
01:10:05,720 --> 01:10:11,440
But also we need to consider the interest that we'd be making if that were in the bank.

898
01:10:12,220 --> 01:10:17,860
Instead of paying them $20,000 or $200,000 plus the interest.

899
01:10:18,880 --> 01:10:19,580
I'll say that again.

900
01:10:20,080 --> 01:10:23,460
We'll be financing the solar panels so we're paying interest.

901
01:10:24,780 --> 01:10:30,380
He said you could save money on a lease, but I'm like, well, I don't know enough about

902
01:10:30,380 --> 01:10:34,860
it, you know, I don't know enough about a lot of it, but he said it's cheaper to lease

903
01:10:34,860 --> 01:10:35,120
it.

904
01:10:35,380 --> 01:10:41,280
I'm probably interested in a presentation on it, but before we get serious, we wouldn't

905
01:10:41,280 --> 01:10:42,560
just let one guy do it.

906
01:10:42,640 --> 01:10:51,040
We would do an R&D on it, but if he wants to give us an actual presentation, we can do

907
01:10:51,040 --> 01:10:56,000
that the next meeting Jim and have him talk to us about it and then we can go

908
01:10:56,000 --> 01:11:00,740
further after that. I just wanted to find out if anybody besides me had any

909
01:11:00,740 --> 01:11:05,260
interest in it. I mean you know what? I don't expect a load or anything because

910
01:11:05,260 --> 01:11:09,960
there's lots of... Well we can't take the action where it's not on the agenda but

911
01:11:09,960 --> 01:11:18,100
but we can if you want to and I guess it'd be just a general consensus I don't

912
01:11:18,100 --> 01:11:24,520
Having him give us a presentation if you can do it in 15-20 minutes. I don't want to sit through it to our presentation

913
01:11:24,520 --> 01:11:33,130
Like time share, but if you want to talk to your head and have to talk to us for knowing that

914
01:11:36,890 --> 01:11:42,450
Okay with that Jim sure we put it all the agenda for next time. Yeah, I'll try to find another

915
01:11:43,470 --> 01:11:49,230
I'll try to find somebody else to the because I you know, I don't know if two hundred thousand dollars is

916
01:11:49,890 --> 01:11:55,310
Going figure or not well we won't I mean once we have a presentation on what it's all about there

917
01:11:55,310 --> 01:12:01,570
We'll do an RFP and we'll find out if 200,000 is the going figure if it's a good figure or if it's high if it's low

918
01:12:01,570 --> 01:12:06,470
And I'm not worried about the $200,000 right now. It's just something if

919
01:12:07,010 --> 01:12:13,150
If it's if we have some interest as a group we can have him come as long as he doesn't take a long time

920
01:12:13,750 --> 01:12:18,310
This is Valerie some things that I would be interested in knowing is you know, what is the life expectancy?

921
01:12:19,690 --> 01:12:26,270
the solar panels. How long would we expect to have this or again T of a certain amount

922
01:12:26,270 --> 01:12:33,390
of efficiency through a certain number? Right. And then maintenance. What we have to do

923
01:12:33,390 --> 01:12:41,090
to maintain maintenance and when would it would be breakeven with paying them off? We have

924
01:12:41,090 --> 01:12:44,550
solar panels on our house and we look there for six years and I'm not sure when they were

925
01:12:44,550 --> 01:12:51,910
installed but we pay like the taxes on our power bill every month. In the winter

926
01:12:51,910 --> 01:12:55,850
time when we're writing our furthest more then we have to pay more but we

927
01:12:55,850 --> 01:13:01,210
don't really pay anything or like the taxes and fees and that's it like 25

928
01:13:01,210 --> 01:13:05,150
bucks a month and that but that's that's it during the winter time we pay a

929
01:13:05,150 --> 01:13:09,210
little bit more and they've been it you know it's longer than six years that

930
01:13:09,210 --> 01:13:17,550
they've been on our house? I think we got cheap ones. Well, I'm dissing Jim. And I'm sure it's changed

931
01:13:17,550 --> 01:13:22,990
now from years ago. Supposedly it's gotten better, but it doesn't sound like it's gotten cheaper,

932
01:13:22,990 --> 01:13:32,250
I don't know. But see, I'm the one that usually signs the Rocky Mountain check. And every time I look

933
01:13:32,250 --> 01:13:33,330
Look at those checks, I go.

934
01:13:33,890 --> 01:13:34,410
Me too.

935
01:13:35,870 --> 01:13:44,550
And so, yeah, I mean, it's something to think of, I mean, partly because we have the funds

936
01:13:44,550 --> 01:13:50,570
that we could do it, I mean, you know, but we'd have to know a lot more than we know

937
01:13:50,570 --> 01:13:51,070
right now.

938
01:13:51,250 --> 01:13:52,670
So I just wanted to bring it up.

939
01:13:52,770 --> 01:13:53,210
That's all.

940
01:13:53,710 --> 01:13:54,350
Good idea.

941
01:13:54,890 --> 01:13:58,470
So is that just an idea for Delta Shands, or would that not capture an offer?

942
01:13:58,490 --> 01:14:00,770
Well, they don't have any money at all, right?

943
01:14:00,770 --> 01:14:14,110
So that's a no for them, and they're building, they could put solar on it, but ideally you want to have a southern exposure, and that's what we have.

944
01:14:15,410 --> 01:14:25,270
And what I'd really like to do is, because I'm also involved with the senior center at the bird centers, I'd like to have this work.

945
01:14:25,270 --> 01:14:32,550
and then somehow, oh, somehow talk to the community and they consider it in any way,

946
01:14:32,830 --> 01:14:36,070
because we have a pretty interesting power bill too, you know.

947
01:14:36,250 --> 01:14:42,150
But anyway, the point is Mount Catherine Paces West, I'm sure you could still do it.

948
01:14:42,390 --> 01:14:50,750
I don't know if the efficiencies is much, but yeah, I mean, if they ever get up to their 110,000 dollars, right?

949
01:14:52,630 --> 01:14:57,010
So I'll leave that up to you if you want him to give a short presentation that'd be great.

950
01:14:57,110 --> 01:14:59,270
They're going to ask you questions like Valerie said.

951
01:15:00,000 --> 01:15:29,900
Aske, you mentioned that we would probably just finance that, where would it be financed with it, and what the company that sold them to us? A lot of the solar companies do finance them. I'm sure we would have options. I think we could get a better interest rate somewhere else. We just paid out right for our, so I don't know, but that would be my guess. Wouldn't that be like getting a store credit card and seeing

952
01:15:29,900 --> 01:15:33,320
and what their interest rate is after you use it.

953
01:15:33,620 --> 01:15:34,280
Yeah, I find it.

954
01:15:34,500 --> 01:15:37,660
Where do you get what their interest is on it?

955
01:15:37,820 --> 01:15:41,580
And then we could also check with the million institutions here.

956
01:15:41,940 --> 01:15:44,020
Yeah, and this is Jim for the last time

957
01:15:44,020 --> 01:15:45,220
so we get to go home.

958
01:15:47,900 --> 01:15:52,460
Maybe the USDA had long missed the money at a low rate.

959
01:15:52,620 --> 01:15:53,120
Who knows?

960
01:15:53,420 --> 01:15:54,760
I don't think we could find the right to.

961
01:15:54,960 --> 01:15:55,320
I don't know.

962
01:15:55,680 --> 01:15:55,820
Yeah.

963
01:15:56,160 --> 01:15:56,440
Oh, no.

964
01:15:56,840 --> 01:15:58,080
That's a good idea.

965
01:15:58,080 --> 01:16:05,600
Yeah. Maybe Elon Musk would have some grants for things like this. Okay, is that, is that

966
01:16:05,600 --> 01:16:12,900
all the discussion we need on that? So, the residents pay their flat monthly grant.

967
01:16:13,160 --> 01:16:20,000
Yes, and they don't pay any utilities at all. No, no, no, no, no, no. What about Internet?

968
01:16:20,340 --> 01:16:22,660
Is that provided at all? They pay their own TV Internet.

969
01:16:22,660 --> 01:16:35,910
Okay, and this is Pat. We're down to item 8 next meeting. Now you've got down April 29th. Is that what you guys the last one thing? Yeah. Yeah.

970
01:16:37,570 --> 01:16:44,510
Okay. Yeah. I haven't got the meetings in the newspaper yet, but I will do that. I don't know why I forgot.

971
01:16:45,010 --> 01:16:50,310
You did at the beginning. I saw it in there. Of the whole year? Yeah.

972
01:16:50,310 --> 01:17:00,030
Gosh, I'm going to get some more prepugins so that we do just double up on it, doesn't

973
01:17:00,030 --> 01:17:00,970
really have any of that.

974
01:17:03,690 --> 01:17:06,610
This is Pat, so do we, I

975
01:17:08,620 --> 01:17:12,480
guess, if you've printed the median schedule, did it include

976
01:17:12,480 --> 01:17:14,220
changing that one in September?

977
01:17:15,740 --> 01:17:16,060
You know?

978
01:17:17,040 --> 01:17:17,720
I don't know.

979
01:17:17,740 --> 01:17:17,960
Jim?

980
01:17:20,840 --> 01:17:21,980
I don't remember.

981
01:17:21,980 --> 01:17:27,700
at the meeting of in October which we did because in October I we talked for a

982
01:17:27,700 --> 01:17:32,120
long time and I said wait a minute wait a minute I said just give me the dates

983
01:17:32,120 --> 01:17:37,300
you know after we talked for what a hour something like that and so you gave me

984
01:17:37,300 --> 01:17:42,300
the dates and I I wrote them down and that would be what I put in so I believe it

985
01:17:42,300 --> 01:17:47,520
should be right because that's the meeting we decided that we haven't had a

986
01:17:47,520 --> 01:17:53,060
meaning since them to change that right right right so I think I'll double check

987
01:17:53,060 --> 01:17:58,640
yeah probably next time that we you publish it in the paper right yeah next time

988
01:17:58,640 --> 01:18:03,540
we might want a copy of what they're doing kept just gonna keep a copy so we know

989
01:18:04,920 --> 01:18:17,500
yeah the paper sends me a copy I can go do they okay okay okay I don't

990
01:18:20,260 --> 01:18:20,260
have any

991
01:18:20,260 --> 01:18:30,020
Somebody gonna make a motion. I'll make a motion that we dismiss the meeting. I second it. Okay. Okay. We all okay. A journey in the meeting. Or do you want to stick around?

992
01:18:30,240 --> 01:18:42,080
All right. Thanks everybody. I appreciate it. Yeah, thanks. I just have people willing to do this. And Jessica, you're

993
01:18:42,760 --> 01:18:44,200
this month will end.

994
01:19:00,480 --> 01:19:13,780
Before you go or as you go, sorry, it looks like it recorded it, like an hour and thirty minutes, let me know if there's a problem.