[This transcript was generated automatically from audio using AI and hasn't been reviewed by a person -- it can contain mistakes, including plausible-sounding sentences that were never actually said. Treat it as a starting point, not a verbatim record.]

[0:00] 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.
[0:31] and I'm almost gallery, gallery house is here and so the only one I've sent is is
[0:41] Ham Fisher okay thank you appreciate that I keep saying when I do be
[0:51] agenda I'm going and I don't know why I'm six had presentation of the budget I
[0:55] I had to call Jessica because I couldn't happen and she's been talking.
[0:59] So we substituted Brent in there and so I'm going to go right to Brent so that he doesn't
[1:05] have to stick around for the whole meeting.
[1:07] So far away, Brent.
[1:09] That's what you got to do the minute first, don't you?
[1:12] I mean, could you do him after?
[1:13] I mean, maybe you can.
[1:14] I don't.
[1:14] You can do the minutes anytime you want.
[1:16] OK.
[1:16] So I'll just put you in front of the minutes.
[1:19] I do have the budget as well.
[1:22] Oh.
[1:22] Oh.
[1:28] So I don't know what she has done in the past, but typically you have to amend the budget
[1:34] to match that at the prior year.
[1:38] So what you have in the front, I'm sorry, Valerie, this is my last call.
[1:41] That's all right.
[1:42] See if I can see the opposite ones here.
[1:45] So this first one is the amended budget for 2025.
[1:50] So we have the current year column and the budget column.
[1:53] there on the right hand side. So those are identical because we're forcing our
[2:00] spend and our income to manage the bad of the budget. So that's why those columns
[2:06] look the same because they are the same. Now this combines and I don't know what
[2:12] you guys have seen in the past when I was on the board we never really seen this.
[2:16] So this is a combination. So the Miller County Housing Authority is one entity.
[2:22] but it is reported as two locations and it's reported that way because of the funds that
[2:31] come from the FHA. So that's why I think Van, he always brought reports that we could never
[2:39] match up, we didn't only know why, and that's why. So when you look at your total income for last
[2:50] year, it was 445,000 in total. And there's a technical difference there that the auditors would
[2:58] call out. We don't report the subsidized interest that comes in from from the FHA.
[3:06] It's in and out, so it matches exactly. I'm not sure what you mean by subsidized interest.
[3:12] So the debt that is on the Delta Sands building and then also on Catherine. The majority of
[3:19] all that is subsidized. So we are paying back, I forget the exact number, but 1,000 and
[3:29] 1,500. It's about a third of a year on the transmission. I'll have to pull that.
[3:35] I've got on my computer, but not nonetheless, the debt payment and the interest is subsidized.
[3:43] 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.
[3:57] That's what you need to remember.
[3:59] That's it.
[4:00] And it's the FDA on the FHA.
[4:04] The Department of Agriculture.
[4:07] Is it the USDA, isn't it?
[4:08] Yeah.
[4:11] It is USDA, maybe I'll put that down, I have it in my head, it was at BHA, but yeah maybe
[4:17] if you weren't correct.
[4:19] I don't see this part of the diagram.
[4:21] I think it farmers home, I guess.
[4:26] Anyway, what's all about?
[4:28] It's the Department of Agriculture, it's overhousing.
[4:31] Yeah, that's who we work through.
[4:35] So yeah, I mean, the deaths on these two locations are being forgiven over a 50-year period.
[4:45] Okay.
[4:48] So that piece is not in here.
[4:52] And this budget is reported to the state of Utah.
[4:56] This one right here, that gets reported to the state every year.
[5:00] and the auditors look for it as well okay so that's just forcing it to what we
[5:07] spent for the year just to make that square so does that say we went 12,000 over
[5:12] budget so or is that the prior year the prior year is 2024 okay and that's the
[5:21] actual spend for 2024 I did not show you a comparison of 2025 to what your
[5:29] original budget clause. Okay. I worked off of actuals.
[5:36] Okay. So then we're going to flip
[5:40] over to 2026.
[5:43] So this is what has been reported both to partner and also the state of Utah.
[5:53] So I've already filed this with the state.
[5:57] So the prior year, that is 2024, current year is 2025,
[6:04] and the budget is 2026.
[6:08] Again, this is a combination for both locations.
[6:11] So you see our total budget in revenues is 463,000
[6:17] versus 446,000.
[6:21] so it's slightly slightly out. Is that an increase in rent or increase from the
[6:27] subsidy from an increase in rent? Yeah. We ask for an increase in rent every year.
[6:33] I mean it's sometimes nominal, but we ask for it every year. Since you've been there.
[6:40] Well, I'm a little bit before that too, but oh well yeah. No, there was a time period that wasn't happening,
[6:46] 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
[6:55] 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
[7:02] We asked for like a 15% correction
[7:05] because we had gone so many years
[7:08] way way behind so you guys remember that and
[7:12] Anyway, let us do it
[7:13] But I think we asked for 20 and got 15 maybe it's pretty substantial increase and they
[7:25] get bulk at it at first but we're waiting on it anyway they let us do it I remember
[7:30] from that conversation they were kind of like that's too high that's outside the realm
[7:35] of normal inflation but yeah we know that but since we haven't had inflation factor
[7:41] been for years. Yeah. So I don't know what it was last year but I wonder how our
[7:48] grants can compare with other facilities similar locations. We did when we went
[7:56] over the budget budget we talked about seven to eight percent and then you
[7:59] talked to someone at USDA and you said you would probably want to get a proof
[8:03] for five. That's why we went with that. So we did try for more. But I wasn't but
[8:09] about the limit. Yeah, I mean they have, I can't find any rule around it, but it's more
[8:16] of a kind of a customary. They know it when they see it. Yeah. Yeah. It's not a definition
[8:23] word. So, so that's what we got was by first hand. But as you'll see, I believe that's 20. So
[8:31] is that an increase in rent that the residents are paying? No, no, no. Okay, this goes against.
[8:39] the USDA. Okay,
[8:44] the rest you know. All we do, the third, the third, the third, the
[8:48] income, the middle. Okay, why do we have any female seats? Okay.
[8:53] When I get there,
[8:55] that's what I'm going to do. I don't know. That's a spy for you.
[9:01] So we do, I think we increase the, or we do evaluate the residents. I've been doing a lot of
[9:07] Yes, it's before the first.
[9:10] Yeah.
[9:11] Most everybody only got like a 2.8%
[9:15] cost of living increase.
[9:16] And so they're rent went up $8.
[9:19] But some people rely heavily on high income
[9:21] and they rely on medical expenses.
[9:24] And so they have to prove bills up.
[9:25] And so that fluctuates quite a bit.
[9:28] Now, could we, as we speak, if you guys would say your name,
[9:31] that would help to your mother.
[9:33] Sorry, that was Jessica.
[9:38] Jessica has a room at my house, so I don't have any problem with Jessica's
[9:42] rights. She's there in most days. I get you frequently.
[9:48] Did you get your question
[9:50] answered about housing? I mean, were you talking on Disadjian and Jay asked about
[9:57] other facilities? Were you talking about other low-income facilities? Yeah. We
[10:03] don't know. Yeah, we're not giving that information. So this is Vicki, which category does the
[10:11] rent they pay in go to? Or does that just go to the, it goes into the charges for services.
[10:17] Okay, it's in that 456. Okay, so it's just all in there. Yeah, okay.
[10:28] Okay, so we'll go through
[10:31] some of these in a little more detail, but if you look at operating expenses, 2.2, other
[10:36] operating expenses, you'll see that in 2025, we spent roughly 204,000, yet in the budget
[10:45] we have it kind of layered in at 276,000, so we got some cushion.
[10:52] Now there's going to be normal cost increases from 25 to 26, but we feel like we have enough
[11:00] baked in there that we're going to be covered.
[11:05] Deep in the race.
[11:07] Flash area.
[11:10] Yeah, but it started this year, didn't it?
[11:13] No.
[11:14] It started last year.
[11:15] January 25th, I had a race, yeah.
[11:17] Well, I thought you got another one this year.
[11:20] No.
[11:21] Oh.
[11:24] Oh, you're fine.
[11:28] So, when we worked on this, we didn't see any large capital projects.
[11:32] I don't know if that's still the case.
[11:35] There's projects that we could but none that have to be done.
[11:39] And I think Jim's got a proposal.
[11:44] So we didn't have anything in the budget for that at the time.
[11:48] But based on these numbers, and again, the operating expenses are a bit on the higher side.
[11:55] They're very conservative.
[11:59] Our transfers to our other funds is roughly $50,000,000.
[12:03] So, based on the budget per cent, we'd be able to stack away 53,000 into our reserve accounts.
[12:11] Now, we have two reserve funds. One is for Delta SAMs, and that's already maxed out at 130,000.
[12:20] And that's where it needs to stay. So, we have plenty of lights stacked away, and the USDA is happy about that.
[12:27] Now, Mt. Catherine is way below. I believe the number is 110,000 and we're at I-44 or something like that down.
[12:37] This is Pat. Jessica, we had some big projects there last year. Did we did the asphalt in the parking lot?
[12:45] Over the last couple of years, we've done a roof and the asphalt on the windows and carpet.
[12:51] And that's what drew it down.
[12:53] Yeah.
[12:53] Yep.
[12:55] So this is Valerie.
[12:56] So is that why on the prior year operating expenses was the 346?
[13:02] I do not know why that was 346.
[13:08] Capital and operating are separate.
[13:11] Capital would have been buried on the 2.4.
[13:15] So I don't know what was in that 346.
[13:18] I have to go back and check and find out.
[13:20] Okay.
[13:24] 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.
[13:33] They are okay with us as long as we are inputting roughly around 11,000 a year, which is where we're at.
[13:42] That's that number that comes out that 800 is not much.
[13:47] But based on this schedule, we should be able to do better than that.
[13:53] I thought we would just do a catch-up contribution at the end of the year.
[13:57] If we have extra funds, we would just toss it in there and keep building that balance.
[14:03] So it's important to stay on the revenue side of it.
[14:06] To make sure we keep getting the 5% to 7% increase every year.
[14:10] And of course, watching our costs, so we get these reserve accounts built back up to where it should be.
[14:17] Does that make sense?
[14:18] I have a question.
[14:19] So this is Jay.
[14:20] I mean, I know on this paperwork,
[14:23] you're doing it as one entity,
[14:25] but when we really keep track of the money,
[14:28] we do it separately, don't we?
[14:30] So as far as making additional contributions
[14:34] to the same amount of cashmins reserved,
[14:36] that wouldn't be coming from funds generated
[14:39] at the Delta Sands.
[14:40] Or it could.
[14:42] Yes.
[14:43] The problem is we'll also.
[14:45] Yeah, I mean, because we're already at 130,000.
[14:48] Yeah.
[14:52] So should we, since we do have some excess and overall,
[14:58] should we be making some...
[15:00] 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.
[15:29] hands is a second but but you're right you know it what is it January the when
[15:37] every 20th or something like that 28 28 we got a long ways to go yeah we should
[15:44] have our first deposit at this higher rate which I haven't seen those numbers yet
[15:48] but that should have come in and so we got a ways to go but based on the current
[15:55] plan. We should have some extra funds that we can move around. So personally I
[16:01] wouldn't even look at it until I July. You know take a gander at that point kind
[16:06] of see where it's going to go. We'll know better at that point times there's
[16:10] any large projects or anything like that that we're missing or you know so it can
[16:14] come between now and then. Just cash management just you know just wait until
[16:20] I think
[16:27] I brought this up in on our call last fall, but this is important and we need
[16:35] to remember this.
[16:37] So when I was talking to Mary Ann, her comment was, and this makes sense, she's probably
[16:46] seeing this in the banking industry that you've been involved with before, is sometimes
[16:52] As lenders will want to have the ability if certain things arise that they can take control
[16:59] of your account and basically make sure they get their money back is what they do.
[17:08] It's called a DACA agreement.
[17:10] Remember that, Jay?
[17:11] Yeah, lots of them.
[17:16] So I was kind of suspicious about it, so I reached out to the state of Utah.
[17:19] 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.
[17:29] I think we have two for each entity at the state.
[17:34] I think there's a third one there too.
[17:35] There was four delta sands, either the third one. I have to double check that.
[17:39] There was one for the required, and then we could put excess and get a hair interest rate at the state.
[17:46] Yeah, so I called the state and I said, hey, here's Dill, USDA wants to be a
[17:52] signer on our account and they want this doc agreement. They said, yeah, we don't
[17:56] do that. So I called Mary Ann, her majoring, and I said, hey, yeah, let's not go on
[18:03] the state and she said, that's not going to work for us.
[18:08] I said, well, basically what's
[18:10] going to happen when they come back and she said, we've got bigger fish to fry
[18:14] right now, so don't worry about it, but don't be surprised if they come back to us and
[18:21] force us out of that state account, and so we'd have to just go to normal baking institution
[18:27] and move that money. Brent, this is Pat, when you say the state account, or are you talking
[18:31] the funds, the positive at the state get an interest? Correct. And they don't want us to use that state
[18:40] to count because the state will not give them access as a signer on that account.
[18:46] They do not enter into the document agreement.
[18:49] So then we're just stuck, this is Pat, with looking somewhere else to get the best income
[18:55] that we've done out of it.
[18:56] It's the state's done a good job with it.
[18:59] Yeah, I mean, they do a pretty good job.
[19:01] You know, it's all relative, right?
[19:03] I mean, so if you look right here in line 1.5
[19:07] Our total interest last year was 8200 bucks. I mean it's it's
[19:14] 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
[19:20] It's not going to sink the ship if we go elsewhere
[19:23] Yeah, and we lose 4,000 bucks a year, you know, it's not a deal breaker for us
[19:28] So, can we, this is bad, can we set up an account like youth band guard or something like
[19:35] that if we want to do or had to check?
[19:40] We use an, this is Vicky, we use an Apple savings account that Goldman Sachs actually
[19:47] is the one that holds it, but we get like 3.65% right now, which is better than a bank.
[19:57] That's probably similar to what the state has, isn't it?
[19:59] I think one of them is time to check.
[20:03] I want to say it was round five.
[20:05] It's just under five or something.
[20:10] This is Jim.
[20:11] And then you also have to...
[20:13] I know they said they have bigger fish to fry,
[20:16] and I'm sure they do.
[20:18] But you've never had a DACA agreement
[20:20] in the history of this facility.
[20:23] I know so maybe they'll get around to you. Maybe they'll their fish will get fried for a few years
[20:30] 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
[20:39] They now know about it.
[20:45] So let's hang it out there. So probably surprise if we get a phone call at some point in time
[20:53] Okay
[20:53] Okay, I'm moving on.
[20:57] So, what you have behind you are the actual budget schedules for each location that are
[21:05] submitted and to the USDA.
[21:07] So this was our build-up.
[21:08] This was just when I worked on it to develop the budgets.
[21:14] So, I won't go through all that detail because it's all summarized on the front page.
[21:20] I just wanted you to see it, this is our schedule that we're going to use year in, year
[21:26] out, and it works pretty good, and then this gets duplicated with the USDA's, so they have
[21:34] this exact same detail in the same format, and that's how they review our budget and approve
[21:41] it or deny it.
[21:44] And that all has to be done before the 1st of October with the USDA.
[21:52] Which is why we're moving 3rd quarter meeting to September.
[21:56] So we can review and approve the budget.
[21:59] Oh, good.
[21:59] Then we'll review and approve the budget before it has to be submitted.
[22:05] Yeah, that would be good.
[22:07] Instead of ratifying it after the fact.
[22:13] Okay, so I won't go through in detail those two pages.
[22:17] So the last couple of pages are the actual financial statements for the year end of 2025.
[22:30] So on the front page, so we have Mt. Catherine first, I know this is at the end of December.
[22:39] So, we had a total of 66,000 on hand between all of our cash accounts, between the reserve
[22:47] and our operating accounts.
[22:50] A account is sameable.
[22:52] We had a 557.
[22:54] And those are some little charges that you've been put in your Jessica.
[22:59] I'd have to go back in and look at the detail.
[23:01] But these do clear out.
[23:02] When she invoices folks for the laws and it is you're tracking them and that's where they're rolling through.
[23:10] I check it and make sure it's clear and out of there.
[23:13] So you probably didn't know what was happening.
[23:17] The only thing I would charge people for is they get their rent off by two or three dollars.
[23:23] And so we carry it forward to the next month.
[23:25] That's the more now.
[23:29] Okay, but that one is being recovered as we need it to be.
[23:34] Undyposit funds, I'd have to look at that 50 bucks and see where that came from.
[23:43] The fixed assets, this is an area that the auditors kind of worked on I think last year.
[23:49] So you'll see the change over on the far right hand side.
[23:53] It's been a change of roughly 40,000.
[23:56] What that is is the cost of improvements that we had throughout the year, so 35,000
[24:03] was per billion.
[24:04] That was mostly for the windows, and then 11,000, that was for furnaces, air conditioners,
[24:16] and water heaters.
[24:17] I thought it was not water heaters, but there are a few of those in there.
[24:21] The current liabilities, I'm going to have to clean this one up.
[24:26] This accounts payable number, I don't think it's the right number.
[24:31] I think this is one that Vann has just had a layered in, it's kind of a static number.
[24:37] So the balance and everything.
[24:39] Well, no, it really balanced and I think it was just an estimate that he had included.
[24:44] So we'll probably have to clean that one up when we get to the audit,
[24:52] tenant security
[24:52] deposits, they probably ask for a list, don't they, the auditors, though what makes
[24:59] up that $300.
[25:02] So we'll go through that one, the long-term liability sample, this is the debt on the buildings
[25:08] themselves.
[25:20] So we
[25:23] have a total of 786,000 outstanding with that entity.
[25:29] So that's how much more we have left to be forgiven.
[25:37] Hey, question on balance sheet.
[25:39] I know we've all three of these financials.
[25:41] If you're not an account, you really don't understand what it would mean.
[25:45] So, I know.
[25:47] I try to.
[25:48] Are we in trouble?
[25:49] That's obvious.
[25:50] Yeah, there you go.
[25:52] This is Vicky, I actually is curious.
[25:54] If they're going to eventually forgive us for all of that,
[25:58] why don't they just do it now?
[26:00] I don't know.
[26:01] I would like to know.
[26:04] I don't know why they don't do it.
[26:06] If you just don't have to, they won, right?
[26:08] Yeah.
[26:14] OK, most of them say equity section.
[26:16] You won't go to the equity section.
[26:18] OK, and then we have the profit loss by mouth testing.
[26:23] So, this indicates where all our loved news came from,
[26:28] so a hundred and two thousand
[26:30] in rental income, a little bit in laundry and pot sales.
[26:35] And you'll see the makeup of the maintenance utilities, administrative expenses, I won't
[26:44] go through each one of those online items.
[26:46] This is what I understand.
[26:50] That was Jerry saying she understood that one.
[26:56] So you guys probably have seen the numbers so down towards the bottom, under the 900 accounts.
[27:02] You will see Randall subsidy,
[27:07] 69,000.
[27:10] So that's that forgiveness of death.
[27:13] The next line is the forgiveness of the interest.
[27:18] So those are non-cash entries, you will.
[27:21] So, this is not right, so the government subsidizes this and they also forgive the value.
[27:34] Okay, so do we actually get money deposited into an account?
[27:39] We do.
[27:41] So we're getting more money than what's forgiven through the census.
[27:46] Because we have to have operating expenses.
[27:48] Alright. Okay. Thank you. Good question. Glad you could answer it. Get an initial over the years.
[28:00] Okay. Delta Sans is the next one. So you see there, we have on hand, 188,000.
[28:11] And again, that's broken out between the treasure, the Utah Public Treasure, and also
[28:16] Zion's.
[28:19] Let's see, I guess it's not worthy to call out on buildings and improvements, but 44,000.
[28:27] Again, that was for more windows here.
[28:32] This is Pat, that project's all done, isn't it?
[28:35] Oh, Windows Act and Replace.
[28:37] Yes, that is.
[28:37] Yeah. In both buildings, right? Minor equipment purchases of $1,800.
[28:48] Again, that accounts payable
[28:49] number. I'm probably going to have to clean that one up and Jessica and I might have to. When we go
[28:56] through the audit, we may have to try to determine what accounts payable really was at that time.
[29:02] Because I think what's happening is when you get ready to pay bills, you log them as a bill and then
[29:07] you pay them as opposed to and maybe we're just paying it off as we go are we
[29:13] paying every bill every month yeah yeah I mean by the end of the month there's
[29:18] probably a small amount that's hanging out there that technically would be an
[29:22] account payable that wasn't entered but it sounds like it's probably gonna be a
[29:27] low dollar amount and we can find out on your cash spend a few weeks in January so
[29:33] maybe this is this is Pat so what you do is you when you get a bill you pet the same day on you
[29:39] could enter a bill in and it could be a while before you bet. I enter the bill I enter as a bill
[29:46] in QuickBooks and then I do turn around and write a check for it. So you probably have a file that has
[29:53] current build do and then when you get ready to cut checks then you put in a quick
[29:58] friction and pain.
[30:00] 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.
[30:22] Anything else on here? Oh, long term debt. So we owe 844,000 left to go on the delta sand.
[30:32] building. That does decrease every year, went down by roughly $44,000 last year. So, that
[30:40] kind of gives you an idea of what they are forgiving as we go.
[30:48] Okay, and then likewise
[30:49] on the P&L, so one for last year we brought in $117,000 in rental income to see the other
[30:59] items to services oh yeah that services number is actually part of the rental
[31:04] income it's just how QuickBooks is reporting the invoices that are being
[31:10] generated that 41,000 that's actually rental income can
[31:18] we change it and
[31:20] show rental income we can we need to go into the items and fix the items there's
[31:26] items that are pre-designated in QuickBooks and it's just going to a service
[31:29] number instead of a rental income? Well, how come the doubt the mouth
[31:34] Catherine didn't have that same line on it? I'm sure it was my fault just the way
[31:39] that I was putting stuff in.
[31:42] It seems like it would be terrible that kind of
[31:45] fault, doesn't it? Was Van the one that kind of set this up to start with? Yeah, he
[31:52] had it all set up and I haven't dug into you know all that yet so okay
[32:02] and you
[32:02] can see the expenses so on and so forth. Now Catherine or sorry got the
[32:09] sand we do have the payroll expenses here but one thing that to note and maybe
[32:15] we can do this differently but this is how it's been done forever is the payroll
[32:19] expenses, that is a net number of the reimbursement of allocated costs from
[32:27] Mount Cafer. And so he paused that number into this 32,000 and that's why it
[32:33] looks low if that makes sense.
[32:38] Yeah, just right. This is Jerry. They just write the word check to her and then it gets
[32:45] transfer. Well, the way it works is we actually write a check up for about $32, $3300 from Mount
[32:55] Catherine. And it comes to Delta Sands and you deposit it into your Delta Sands account. And
[33:02] that's where the credit goes. This is Pat. So was all the payroll come out of the Delta Sands?
[33:11] Is
[33:13] it doesn't matter.
[33:19] So, I mean, that's just the way it's always been done, but if you're
[33:22] looking at that number and you're thinking, hey, yes, that's not what we're paying
[33:25] just for you. You're right. But that is a net number. That's just the way it's been done.
[33:35] Okay.
[33:42] So, if you flip over to the back side of the last page, you'll see the ramp
[33:47] and also the interest subsidy number to give you a feel for what that really is, in total.
[34:00] You were 50 cents off?
[34:03] Probably.
[34:04] Oh.
[34:08] I
[34:10] know it's a lot of information, but what kind of questions?
[34:17] Oh, they did good.
[34:18] This is Jim.
[34:18] nice that one. One of the things that Van used to hit on fairly heavily when we talk
[34:25] about stuff like, well why don't they just pass, why don't they just cut us off, because
[34:30] they want to have their finger in their facilities. At least that's what he said. They don't
[34:38] want to have you pay them all off so that you're a little more independent from them. That's
[34:43] the way he described it. I don't know, I'm just sitting back from 20,000 feet, right?
[34:51] Looking at it, it's like how much engagement they have with Mary Jane. I haven't talked to her in a
[34:59] year probably. Yeah, there's no oversight. Once we figured out how things got worked, I
[35:06] didn't need her anymore and she audits every three years, so I haven't seen her in two. Yeah,
[35:13] I mean, from a management perspective, there's no oversight.
[35:17] Other than, I mean, there's a couple of things, right?
[35:19] Which is, you know, the doctor, that we talked about.
[35:23] They want to see the budget, and they do approve our budgets,
[35:27] but they don't tell us how to spend our money.
[35:30] They want to see the audit, too, don't they?
[35:32] They do.
[35:33] So they get to see that.
[35:34] But that's typical of any money and institution.
[35:37] So there must be some reason that they don't just
[35:40] do what you suggested.
[35:41] I don't know.
[35:42] I'll ask her.
[35:44] Hey, why don't you just, uh, I don't know what to do with that.
[35:49] You just give us the money.
[35:51] Yeah.
[35:52] Let's see.
[35:54] No, it's interesting the way in it is work.
[35:58] I don't really know why they're doing what they're doing.
[36:01] Well, I'm glad they don't try to micromanage.
[36:04] So we're glad they gave us the money.
[36:06] Yeah.
[36:06] You know, and that they're doing what they're doing, right? It's unusual.
[36:17] I have a question
[36:18] this is Jay. So it seems like we talked about maybe Van was the one that controlled
[36:26] the money on the state level, no local person had access to that. Is that still how it is?
[36:33] I'm on the account now, but Brent's still the one taking care of it.
[36:38] 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.
[36:48] And did we have an account of Wells Fargo or something somewhere?
[36:52] I get noticed that there's a statement, but I don't have, I bet has it zeroed out on the books.
[36:59] 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
[37:05] But I can't get to eat the statement, so I don't know what's in it
[37:10] Yeah, that we probably should check that and see if it really is zeroed out
[37:13] And they should just get it shut down and just discontinue that service, but maybe there is something in there who knows
[37:20] Might be zeroed out on our books, but maybe there's money in the account
[37:24] I'm calling up. This is Jerry. He told me once that that was the account that
[37:35] Mergen's stuff the money goes into and then he moves it into the other accounts
[37:41] From there
[37:43] Clearing the account of some time
[37:45] I don't know why you need that
[37:49] Well, he said there was something about, she couldn't put it into science.
[37:56] That their accounts were in Wells Fargo.
[38:00] They have to have direct deposits in Wells Fargo.
[38:04] And then he moved it from there to her.
[38:07] And that might have been the case at one point, but I think that that's probably resolved.
[38:12] 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.
[38:22] Thank you so much.
[38:25] I'm in the brand again. Just a couple more things.
[38:31] Everything's been filed with the state and then also the feds that we need to report on an annual basis.
[38:38] That's all been done and also on a quarterly basis. That's all those reports have been taken care of.
[38:43] 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
[38:55] as due by the end of the month.
[38:57] What do you mean by access to?
[39:00] So there's a reporting system on the state's website that we have to log into and report all these account balances.
[39:08] And I don't have access to this entity.
[39:11] 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.
[39:24] 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.
[39:35] Yeah, so the employer identification number on anybody who's performing a service for us
[39:43] That's over six hundred dollars or more
[39:47] 2026 that's going to two thousand. Yeah, so
[39:52] Keep that in mind. Is that an annual this is bad is an annual figure or monthly that to annual?
[39:58] Yeah, annual figure. So Jessica you might not have very many that are
[40:03] over 2,000 yeah I mean there will be a few repairmen that'll that are
[40:10] pretty consistent with yeah they'll probably be a lot maybe five six a year
[40:18] there will be a lot but yeah if you'll collect those EIN numbers and then and I
[40:27] have started I have a few of them but I now work hard on it yeah don't knock
[40:32] yourself out. We're getting them done by the end of the year. I've been going through
[40:37] every of these finances for the whole month and it's been a lot. It's surprising when
[40:44] you look at who you spend money to and who we have to report. So this is Pat. The
[40:52] thought to come is hard to get that information from your tenants. Yeah. I had to
[40:58] I'll check them down.
[40:58] I'll, I'll, what I do my report, I'll tell you, but.
[41:04] This is Vicki, I, you mentioned that you have to be able to get permission to get
[41:09] some information that's, have, need to call somebody.
[41:12] No, it's, it's the administrator at the state.
[41:15] Oh, and they don't let everybody have access to that reporting mechanism.
[41:22] Um, so you just, and they, they know who I am.
[41:26] So it should be pretty simple.
[41:28] OK, so it shouldn't be a problem.
[41:31] But that's the only reporting requirement I'm waiting on.
[41:34] Everything else is done.
[41:37] Sorry, yes, we're getting close to moving into the audit
[41:40] with Bill.
[41:41] I don't know when do they start the audit.
[41:43] April?
[41:44] Oh, OK.
[41:46] Well, that's fine.
[41:47] We got everything ready to go.
[41:49] So long story short, I think I got everything buttoned up
[41:53] because I'm trying to tell you.
[41:54] This is Jerry. I want to commend.
[42:02] It is so nice to have all the reports done.
[42:07] Be able to understand what he's written. I am serious. Thank you. You're welcome.
[42:18] This is Pat. Based on what I heard happened in the past when you were on the board,
[42:24] life's much easier now with what you're ingested. I'm very appreciative of that because I don't have to do anything.
[42:36] No, I don't know how long we've been on QuickBooks Online but you know that's been a great improvement.
[42:44] Have you ever dealt with it before? It was QuickBooks Online.
[42:48] Okay, I started learning middle of last year. You wouldn't have liked it.
[42:56] This place is so much cleaner, although we do have three quick books of counts.
[43:03] 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.
[43:09] They won't stop sending them away.
[43:10] Yeah, yeah, that's that third one we might want to talk a bill
[43:17] 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
[43:27] Yeah, get get rid of it
[43:29] I thought one bill is using but if he's not
[43:34] No, and that's I don't think bill use QuickBooks hardly at all. He said he said it out for us
[43:42] And then Van didn't maintain it, and I didn't have access to what Van has.
[43:47] Van and Sidney.
[43:48] Yeah.
[43:52] Anything else in, right?
[43:54] No, I don't think so.
[43:56] I think that's everything I wanted to cover.
[43:58] Well, we appreciate it.
[43:59] You're welcome to stay.
[44:00] Thank you so much for all you do.
[44:03] I appreciate that.
[44:05] I will see myself.
[44:07] Well, for several times, I don't like sharp menus.
[44:10] Well, thank you.
[44:13] Well, we'll go back to the agenda and we'll ask if there's any other approval changes
[44:20] reviewed on the minutes that we need to tell Jim about.
[44:26] I didn't even touch the ones that you got.
[44:29] 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
[44:40] nice enough to make him a Anderson instead of a Christianson. So, we'll fix that. I think
[44:47] that's the only two things that I know of. Wasn't it two months ago that I was Pat Simonson?
[44:52] Well, you still are a lot of things. You've noticed when I call the role, I go, I go,
[44:58] Jerry, I go
[45:06] All right. It needs to just read it off. Right on my wrist. Are there any other changes
[45:15] that need to be made to the minutes? I'd entertain a motion to approve the minutes.
[45:28] I make a motion
[45:29] improve all of all in favor say aye or are there any of both all right then we're
[45:36] done with the minutes guess who's out okay so we have been every year we have
[45:42] to recertify everyone's income and their medical expenses we take there we
[45:48] take their income most people got a 2.8% cost of the increase some are W2
[45:55] wages and so that's going to vary to you and then you can craft out any medical expenses.
[46:01] And what you do that for all 55 tenants in one month.
[46:07] So sometimes it's as much as two pieces of paper and I can get it done in 30 seconds then
[46:12] we move on and sometimes the stack is this thick and we're writing down receipts and every
[46:17] single expense.
[46:18] And so the red is charged by what their income the previous year was.
[46:22] So, yeah, 2025 income, well, no, sorry, it is going to be what the income they're going
[46:29] to get this year, so they all got their social security statements and so the income that
[46:34] they're going to expect this year and we subtract it from medical expenses that they actually
[46:39] paid out of pocket from $20.25.
[46:42] And then that's their adjusted income and then we take the 30% and that's what they're
[46:48] right.
[46:48] Rent is based off of.
[46:49] so it's um you asked if it was hard to get that paperwork it's takes threats of
[46:56] your rent's gonna be $1,032 if I don't get the paperwork back today and she needs
[47:03] a new pair.
[47:06] I made my point. Are you that social with them? It scares them enough they give them
[47:14] And then sometimes I'm still not another door.
[47:17] So he skipped a piece over there by your phone.
[47:20] Right.
[47:21] OK.
[47:22] So yeah, that today was the last day in Delta the before the first is on Sunday.
[47:30] And so I have to have everything in by the first.
[47:33] So today I was still there at 230 trying to get everything put in.
[47:38] And we got everything put in.
[47:39] But I had to carry some stuff over to film where they're a little bit more on top
[47:42] of it, but there's also 11 less tenants.
[47:47] It makes a difference. There's two or
[47:51] still two or three that are dragging their feet tomorrow, so we'll go and knock on
[47:55] their door tomorrow, but hopefully we'll have everything done before the deadline
[47:59] and I don't have to work on Saturday. But if I have to work on Saturday, we'll get it
[48:12] And then they pay, they don't get a subsidy and they pay the full, full amount, which is
[48:16] about $32.00.
[48:18] So.
[48:18] Well, it's just amazing that they are not more pro-operative and just really excited to get
[48:22] to that information.
[48:23] Yeah.
[48:24] Well, because it's not easy.
[48:25] It's you have to pay attention throughout the whole year and you have to collect it or
[48:29] you have to make phone calls at the end of the year and say, can you give me a statement
[48:32] for everything that they paid and it's hard for some people to do that.
[48:41] Yeah.
[48:42] elderly, they're disabled. A lot of them have mental health problems and it's
[48:47] just hard to do daily living things. This is Jerry and as an elderly person, I can
[48:58] tell you it sure is a whole lot easier to sit on your couch a much too.
[49:05] So sometimes they only give me their income so I'm like okay we'll figure that and
[49:10] And then it's like $100 a piece of mic.
[49:13] So let's go back through, print out all of your statements.
[49:15] And then we go with the highlighter
[49:16] and we say, oh, that's a payment for medical expenses.
[49:19] And we go back through.
[49:20] And we refigured their rents two or three times some of them
[49:23] because they're like, oh, I have this piece of paper now.
[49:27] I'm like, okay, let's do it.
[49:29] I want you to pay as little as you possibly can
[49:33] because we get paid anyway.
[49:35] So that's my job.
[49:37] Let's get it as low as we possibly can for you.
[49:39] It's true. Yeah, it's nice you're helping them out so much. Yeah, this is Jim. So run me through
[49:46] 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
[49:54] Starting January their tax documents start coming. So when do you start
[50:01] Writing the drastic modes
[50:09] 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.
[50:28] Well it's okay with me if you sent the nasty note a little earlier.
[50:43] Okay,
[50:47] 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.
[51:01] to be replaced just as they go out.
[51:05] This is Pat, a question of three of every appliance per apartment, or one of one of the
[51:11] For complex.
[51:12] Yeah.
[51:12] So three water heaters, three furnaces, three, just the big major appliance.
[51:18] Is that for the year?
[51:19] Yeah.
[51:19] There's just what we budget for.
[51:21] We've had four water heaters go out in the last month and a half, but.
[51:31] but I still think we're still have a room in the budget because those are just water heaters.
[51:38] We haven't replaced furnaces and air conditioners. I mean we've we've built in a cushion to that
[51:43] but it seems like it's been a lot of water heaters. But they're all they're all from the 80s.
[51:49] We know that they all need to be replaced as soon as something's like my water okay we'll get
[51:54] They just keep one on order for us at Ropers and they do this, yeah.
[52:00] We get them in as soon as we can because you can't go without hot water.
[52:04] This is pad of the electric or gas.
[52:06] They're electric, yeah.
[52:09] Everything at the sand is electric.
[52:13] The gas bill, I think there is like one or two appliances in the laundromat that are gas,
[52:20] Yes, though my guess goes like $30, the electric bill is about $3,500.
[52:30] But the repairs were staying on top of repairs and I have not had any complaints.
[52:39] We try to get to them within the same week, but if they're important things like water
[52:46] heaters we trained it within a day or so and Clint's really good about getting making
[52:52] time in his schedule to come and do that, of course, so any questions as far as the management?
[53:02] No, this is Pat, we really appreciate all that you do, and it doesn't hurt my feelings
[53:07] a bit that you're spending a lot of time getting Jim to sign a chance, though they aren't
[53:11] I don't find it getting the schedule out there
[53:13] for one or two days a week.
[53:16] Jim is convenient because he's just across the street
[53:19] and I know when he's going to be there, so.
[53:22] I don't know.
[53:23] No, this is Jim.
[53:25] I know when it was unusual because about a week ago
[53:28] on a Thursday, she called me and said,
[53:31] can you sign Chebs today?
[53:33] And I said, well, if you want to bring them up to Sandy,
[53:35] I can, but I'm going to go up today.
[53:38] And so I said, but I will be home tomorrow,
[53:42] and I'll be home all day if you want to, and I never heard anything from her.
[53:47] And I'm like, if you mad at me, I'd be home Friday.
[53:51] I worked my other job that Friday.
[53:55] Anyway.
[53:57] Well, are we ready to move on to the next item then?
[54:00] Okay, have you, did you make coffees as the proposal?
[54:05] Jessica called me a while ago and gave me a head jacket.
[54:08] that the auditor, I've got a coffee here so that our auditor felt like he wanted to increase
[54:18] his fees, he said he hadn't, I think in here it says 10 years, something like that he
[54:24] hasn't increased it, I don't know.
[54:28] And he's made a proposal there, you'll see, he's added 1,000 every year, up to 2,000, 27
[54:37] and then it's over the $13,000.
[54:40] Now, you may not remember, it was Bill that suggested
[54:44] that we put an RFP out for new account
[54:50] to then save this quite a bit of money.
[54:52] Oh yes.
[54:53] And so, and it's, we haven't had any penalties
[54:57] at the state or the feds lady and appreciate it.
[55:01] And did we have penalties in the past?
[55:03] We did.
[55:07] They even reversed some of the penalties they they called we were being assessed late fees and they called and said
[55:15] We're new, and so like, okay, we'll drop that off and celebrate it.
[55:20] Yes, I'm sorry.
[55:22] That may I last a little bit.
[55:25] But anyway, he's requesting a fee increase starting next year.
[55:35] Starting this year, 2026, he's been 11,000, he's starting this year, 2026 to 12,
[55:40] and then 2027 goes up to 13 and he's holding that up to 2029.
[55:47] This is something that if you have any discussion,
[55:50] we need discuss.
[55:51] If not, we need to take an action of a criminal with his approval on it.
[55:57] So I'll entertain any discussion.
[56:00] Well, I mean, this is Jim. I mean, I'm sure you're going to have to do it.
[56:04] I guess my only question is,
[56:05] is disinflation gone up from 11,000 to 13,000 in the last 10 years because it probably
[56:15] has, but I mean, he's good, so I'm actually going to have to pay it.
[56:22] Well, our other option would be to look for another auditor, which I'm not sure I want
[56:27] to do that at this point in time.
[56:29] And we could do it another time, but we just went through the, getting a new account
[56:35] and I'm not sure I want to do, get another auditor.
[56:39] I am waiting towards doing the approval, but I need, if there's not any discussion,
[56:46] if somebody wants to make a motion, then we'll see where it goes.
[56:49] This is Jessica.
[56:50] Is he asking to have a contract through 2029 or is just willing to hold that number for us through 2029?
[56:57] And he talked about once we get this done, giving us a contract that matches that.
[57:04] Is that what you're asking?
[57:05] No.
[57:06] Are we agreeing to work with him for the next four years or just next year expect $1,000
[57:13] a year?
[57:13] Hi.
[57:13] That's a good question.
[57:15] I don't know that if we approve this, that it says we have to stay with him, I don't know.
[57:24] I'm assuming without a letter from him signed by us saying that we do want to keep you
[57:31] all that time, I think he'd have a hard time.
[57:33] Yeah.
[57:33] Well, I do know that he wants to do an engagement letter, so it would be a contract.
[57:38] I just didn't know if his expectation was a four-year engagement letter or one year, and
[57:43] then we, the next year, were expecting to pay the $1,000 extra and do it another year.
[57:48] I don't have an answer to that.
[57:51] I can call him and ask him.
[57:54] And I'm sure he would be fine.
[57:56] If we tell him we're all going to do a one-year engagement
[57:58] letter, I think sure he would be fine with that.
[58:00] That would be my preference.
[58:03] Really?
[58:03] Yes.
[58:05] Yeah.
[58:05] The reason I say that is, I doubt there
[58:08] would be anything that would cause us any grief.
[58:10] But if something comes up that does cause us some grief,
[58:14] a one-year engagement letter gives us
[58:15] a lot of options to be able to look at.
[58:18] Well, I think in that you can put what options you want in that, but agree to this amount
[58:26] if we keep them.
[58:28] Well, we can agree to this amount in this meeting, but each engagement letter will have that
[58:33] amount every year.
[58:35] That way, if we decide we don't want to use it anymore, we're not liable for breaking
[58:39] a contract.
[58:41] I think you'll probably hold the numbers, but we can verify before.
[58:48] I could probably get him on the phone right now.
[58:51] I think we need to keep him.
[58:53] Well, is it common?
[58:56] We did do a one-year engagement letter.
[58:58] We did do anything last year, but we did do a one-year before.
[59:05] So I don't know what he did send me an engagement letter this year.
[59:09] For this year?
[59:09] Yes, okay, you can't promise me he's gonna go any going to and then when you called on this a son
[59:15] I'm not seeing it. Oh, you know, we'll do that now. I'm not remembering if he has or
[59:26] 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
[59:32] This is Valerie. I don't have a problem with increasing that seems to me like with things lining up
[59:39] the way they are, his job is a lot less work now than it has been in the US, right?
[59:46] He still has to come on-site and we check actual hard copy files and we go through, we'll
[59:56] go through the tenet bowels or go through
[1:00:00] 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
[1:00:29] services will be any less. It's like his job, what's required of him to do for the
[1:00:35] audit won't change. No. Right. It's good. It's good. The same amount of work he'll
[1:00:39] just have less trouble getting all the numbers. That's what I was going to say. You're right.
[1:00:48] I make a motion that we accept to numbers and if you want to fight your engagement or
[1:00:54] for your engagement. Well I think we need to just say yes we want to numbers or we
[1:01:00] know and then go with I don't want to I would for not to make a motion on the
[1:01:06] engagement letter until I talk to him and we can do that on the next one yeah let's
[1:01:10] just say we accept these amounts are not and that's your motion yeah I have
[1:01:18] a question real quick this is Valerie so we have had him as the auditor for
[1:01:22] past ten years no no we had no auditor for a while okay so how long has he
[1:01:31] I know when he came in 24 he was doing a two-year catch-up, so I don't know what happened
[1:01:38] before that, but he was 23 and 24 at this time.
[1:01:41] He makes a comment in the second paragraph, this is Pat, this is while we have not increased
[1:01:46] fees in ten years.
[1:01:49] That's where I got that ten years ago.
[1:01:51] But that's for his business, because he hasn't been well for every minute.
[1:01:59] Maybe he was here before.
[1:02:02] I don't know how long he has been auditing for quite some time, but I don't know how long.
[1:02:08] I know he's changed companies, but it's been bill, no matter what the name of the company
[1:02:16] has been.
[1:02:18] And we have to have it.
[1:02:20] We're supposed to have an audit every year.
[1:02:22] Yes.
[1:02:23] Every board I'm on, or committee, we get audited every year.
[1:02:29] Right.
[1:02:29] Yeah. No, it's busted. So Vihiti, you know, it's common to just do a one-year
[1:02:35] engagement. I don't know. Does that come up in any of your other? No, then you've got me curious.
[1:02:41] I'm going to ask him next time. I can try getting him on the phone right now, if you guys would like to
[1:02:45] do that before we finalize. I don't think it's, I don't think a one-year engagement letter should be a problem.
[1:02:51] Okay, and that's what I wanted to ask you about. I said check on a one-year engagement letter
[1:02:58] I'll ask you that and then we can bring that up and approve that and then there's a motion on the table.
[1:03:04] Yeah, well, there's a discussion.
[1:03:05] I second the motion.
[1:03:06] Okay, I've got a first and a second after the discussion.
[1:03:11] All in those.
[1:03:12] Let's hear.
[1:03:12] I get confused.
[1:03:13] This Jim.
[1:03:14] Let's hear the motion again.
[1:03:15] It's to accept these numbers to pay for that.
[1:03:19] We accept all of the numbers.
[1:03:20] The numbers that Bill had.
[1:03:26] We're not committing to a certain number of years right now, but if we go with him those will be the number split.
[1:03:36] We have to commit to the 12,000 for this year.
[1:03:39] So right now, that would be committing to a certain number of years.
[1:03:41] But he's going to start with either way.
[1:03:44] I wanted to agree to all of it.
[1:03:47] That's the motion you made.
[1:03:49] So you're okay with that second and that motion for all the years, right?
[1:03:58] Yes.
[1:03:58] Okay.
[1:03:59] Okay.
[1:04:00] Are we ready to take a vote?
[1:04:01] And any other discussion?
[1:04:03] Yeah, that's the time for the discussion.
[1:04:05] Yeah.
[1:04:06] Well, I'm 30 left.
[1:04:07] I can't remember.
[1:04:08] Am I a voting member?
[1:04:10] No.
[1:04:10] I don't think so.
[1:04:11] Okay.
[1:04:12] Not our advisory.
[1:04:14] Because I knew I couldn't vote on the road one on one.
[1:04:19] So the motion is on the table has been seconded all those in favor of the motion signified by I I
[1:04:26] Are there any opposed the motion carries now?
[1:04:31] And I will check on the engagement letter
[1:04:35] Okay, we're up to new business
[1:04:37] So I have a question real quick. So we have an understanding of bill that he will be our auditor for this year, 2026
[1:04:44] Yes, yes, so we're at with
[1:04:46] Okay. Okay. Yeah, he's already working on it. Okay.
[1:04:54] Okay. New business, any new business?
[1:04:56] Jessica mentioned something I didn't have a proposal on something. Yeah, I did. Does anybody
[1:05:01] else? I don't know if I guess you're the only one. So lucky me. So I noticed that we have
[1:05:08] lots of money and my wife always told me when you have lots of money hurry up and spend it.
[1:05:14] from before she did. And so I asked Jessica well I talked to a solar installation
[1:05:29] person to get a ballpark figure of what it would cost to to put solar on the
[1:05:38] sands. And it's a lot. Oh, I know. It's just on my house. But, oh, have you done that? Oh, yeah.
[1:05:46] 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
[1:05:51] nice. But of course, you'd need to, if we had any interest in it, you'd need to look into a farther
[1:05:57] than I've been able to do in the last two weeks. But, but he did say it would, to, to put on that
[1:06:06] facility, he looked up the building and sized and everything. He said to put it on that
[1:06:11] building that would reduce the electricity by 50 percent, it would cost $200,000.
[1:06:20] It would cost you 50 percent, unless you've got backup matters.
[1:06:28] Which way does your house face?
[1:06:30] We don't have the backup matters.
[1:06:34] Well, I know, but which way does your house face?
[1:06:41] I don't know how much surface area because we put Ed and I installed our own but we put
[1:06:47] them on the ground behind our house which is what we should have done.
[1:06:51] And we actually make more than we use but it goes back and on to the grid but they store
[1:06:59] it for us for free.
[1:07:00] Yeah.
[1:07:01] So would you like to be our installers?
[1:07:05] I don't want to be like that.
[1:07:06] If you don't want to be like that, it's really easy.
[1:07:08] You actually have to do roof mount.
[1:07:10] You can't do it on the ground.
[1:07:12] Yeah.
[1:07:12] Well, that's what I figured it was going to be.
[1:07:15] You can do them on the ground, but it has to be a sort of square footage.
[1:07:19] Yeah.
[1:07:20] Probably less than one.
[1:07:20] Which this wouldn't qualify.
[1:07:21] We don't have the room unless we use the parking lot.
[1:07:24] No, it wouldn't qualify.
[1:07:26] So then with the amount of roof space, the amount of soil panels that they could install, it
[1:07:31] could reduce the power bill by 50%.
[1:07:33] That's what he says, and that's what he does.
[1:07:35] You said you're paying close to $3,500 a month?
[1:07:37] I put together the last three years
[1:07:40] and they can get it to print, but it's about $36,000 a year for a power.
[1:07:46] And so we're talking $18,000, and then it's going to cost $200,000 or...
[1:07:51] So it's about 11 years.
[1:07:53] And that's all ballpark stuff.
[1:07:55] There's also, I don't think Trump has quite gotten rid
[1:07:59] of all the solar credits yet.
[1:08:01] I'm sure it's on his desk.
[1:08:02] Well, we don't pay taxes.
[1:08:05] Well, it's
[1:08:08] always somebody that has to shoot my blue limbs down.
[1:08:15] There's something about the power company that might give you a thousand dollars.
[1:08:20] Well, I'll tell you, we're not getting the amount back from the power company that we got the first three years.
[1:08:29] Yeah, the efficiency does slowly decrease on the scale, and that's only been three years.
[1:08:37] Yeah, which is way too bad, because I don't think this is better than that.
[1:08:43] This is Pat, and my math skills are not what they used to be, but if I use a figure of 3500
[1:08:49] and a client 50%, that comes up at 1750, and your time's at by 12, watch me Jay, can't
[1:08:57] 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
[1:09:09] 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
[1:09:16] Figured 20 years is pretty much all you can
[1:09:20] Get up there and clean them. So are they still pretty good in tandem or 12? Yeah, ours are but all
[1:09:27] You can't clean them with regular water because it'll leave hard water spots on them
[1:09:32] 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%
[1:09:41] I don't know is that
[1:09:45] Can you make that pay?
[1:09:47] Actually, in a thousand it would take and if we can hold the 50%
[1:09:52] We it would take a little over 11 years. Yeah, yeah
[1:09:55] And then they probably down do a 30% efficiency of 11 years.
[1:10:02] But they'd be paid off too.
[1:10:05] But also we need to consider the interest that we'd be making if that were in the bank.
[1:10:12] Instead of paying them $20,000 or $200,000 plus the interest.
[1:10:18] I'll say that again.
[1:10:20] We'll be financing the solar panels so we're paying interest.
[1:10:24] He said you could save money on a lease, but I'm like, well, I don't know enough about
[1:10:30] it, you know, I don't know enough about a lot of it, but he said it's cheaper to lease
[1:10:34] it.
[1:10:35] I'm probably interested in a presentation on it, but before we get serious, we wouldn't
[1:10:41] just let one guy do it.
[1:10:42] We would do an R&D on it, but if he wants to give us an actual presentation, we can do
[1:10:51] that the next meeting Jim and have him talk to us about it and then we can go
[1:10:56] further after that. I just wanted to find out if anybody besides me had any
[1:11:00] interest in it. I mean you know what? I don't expect a load or anything because
[1:11:05] there's lots of... Well we can't take the action where it's not on the agenda but
[1:11:09] but we can if you want to and I guess it'd be just a general consensus I don't
[1:11:18] 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
[1:11:24] Like time share, but if you want to talk to your head and have to talk to us for knowing that
[1:11:36] Okay with that Jim sure we put it all the agenda for next time. Yeah, I'll try to find another
[1:11:43] I'll try to find somebody else to the because I you know, I don't know if two hundred thousand dollars is
[1:11:49] Going figure or not well we won't I mean once we have a presentation on what it's all about there
[1:11:55] 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
[1:12:01] And I'm not worried about the $200,000 right now. It's just something if
[1:12:07] 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
[1:12:13] This is Valerie some things that I would be interested in knowing is you know, what is the life expectancy?
[1:12:19] the solar panels. How long would we expect to have this or again T of a certain amount
[1:12:26] of efficiency through a certain number? Right. And then maintenance. What we have to do
[1:12:33] to maintain maintenance and when would it would be breakeven with paying them off? We have
[1:12:41] solar panels on our house and we look there for six years and I'm not sure when they were
[1:12:44] installed but we pay like the taxes on our power bill every month. In the winter
[1:12:51] time when we're writing our furthest more then we have to pay more but we
[1:12:55] don't really pay anything or like the taxes and fees and that's it like 25
[1:13:01] bucks a month and that but that's that's it during the winter time we pay a
[1:13:05] little bit more and they've been it you know it's longer than six years that
[1:13:09] they've been on our house? I think we got cheap ones. Well, I'm dissing Jim. And I'm sure it's changed
[1:13:17] now from years ago. Supposedly it's gotten better, but it doesn't sound like it's gotten cheaper,
[1:13:22] I don't know. But see, I'm the one that usually signs the Rocky Mountain check. And every time I look
[1:13:32] Look at those checks, I go.
[1:13:33] Me too.
[1:13:35] And so, yeah, I mean, it's something to think of, I mean, partly because we have the funds
[1:13:44] that we could do it, I mean, you know, but we'd have to know a lot more than we know
[1:13:50] right now.
[1:13:51] So I just wanted to bring it up.
[1:13:52] That's all.
[1:13:53] Good idea.
[1:13:54] So is that just an idea for Delta Shands, or would that not capture an offer?
[1:13:58] Well, they don't have any money at all, right?
[1:14:00] 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.
[1:14:15] 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.
[1:14:25] and then somehow, oh, somehow talk to the community and they consider it in any way,
[1:14:32] because we have a pretty interesting power bill too, you know.
[1:14:36] But anyway, the point is Mount Catherine Paces West, I'm sure you could still do it.
[1:14:42] I don't know if the efficiencies is much, but yeah, I mean, if they ever get up to their 110,000 dollars, right?
[1:14:52] So I'll leave that up to you if you want him to give a short presentation that'd be great.
[1:14:57] They're going to ask you questions like Valerie said.
[1:15:00] 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
[1:15:29] and what their interest rate is after you use it.
[1:15:33] Yeah, I find it.
[1:15:34] Where do you get what their interest is on it?
[1:15:37] And then we could also check with the million institutions here.
[1:15:41] Yeah, and this is Jim for the last time
[1:15:44] so we get to go home.
[1:15:47] Maybe the USDA had long missed the money at a low rate.
[1:15:52] Who knows?
[1:15:53] I don't think we could find the right to.
[1:15:54] I don't know.
[1:15:55] Yeah.
[1:15:56] Oh, no.
[1:15:56] That's a good idea.
[1:15:58] Yeah. Maybe Elon Musk would have some grants for things like this. Okay, is that, is that
[1:16:05] all the discussion we need on that? So, the residents pay their flat monthly grant.
[1:16:13] Yes, and they don't pay any utilities at all. No, no, no, no, no, no. What about Internet?
[1:16:20] Is that provided at all? They pay their own TV Internet.
[1:16:22] 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.
[1:16:37] Okay. Yeah. I haven't got the meetings in the newspaper yet, but I will do that. I don't know why I forgot.
[1:16:45] You did at the beginning. I saw it in there. Of the whole year? Yeah.
[1:16:50] Gosh, I'm going to get some more prepugins so that we do just double up on it, doesn't
[1:17:00] really have any of that.
[1:17:03] This is Pat, so do we, I
[1:17:08] guess, if you've printed the median schedule, did it include
[1:17:12] changing that one in September?
[1:17:15] You know?
[1:17:17] I don't know.
[1:17:17] Jim?
[1:17:20] I don't remember.
[1:17:21] at the meeting of in October which we did because in October I we talked for a
[1:17:27] long time and I said wait a minute wait a minute I said just give me the dates
[1:17:32] you know after we talked for what a hour something like that and so you gave me
[1:17:37] the dates and I I wrote them down and that would be what I put in so I believe it
[1:17:42] should be right because that's the meeting we decided that we haven't had a
[1:17:47] meaning since them to change that right right right so I think I'll double check
[1:17:53] yeah probably next time that we you publish it in the paper right yeah next time
[1:17:58] we might want a copy of what they're doing kept just gonna keep a copy so we know
[1:18:04] yeah the paper sends me a copy I can go do they okay okay okay I don't
[1:18:20] have any
[1:18:20] 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?
[1:18:30] All right. Thanks everybody. I appreciate it. Yeah, thanks. I just have people willing to do this. And Jessica, you're
[1:18:42] this month will end.
[1:19:00] 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.