HomeMy WebLinkAboutF Minutes 10052011Bdads, 490 children and 254 mom volunteers. Although the official amount has yet to be
totaled, Fathers & Flashlights 2011 raised approximately $53,000.
Financial Update/Friends 2010 Tax Return Overview (Donna LaMond)
• Financial update - We have officially satisfied all outstanding commitments to
the City. Earlier this month we presented the City with a check for $75,000
which finished up payments owed for the West U Roe Center playground.
Moving forward we can expect an invoice for Judson Park Phase I and eventually
Judson Park Phase II. As Tim O'Connor's report last month stated, Friends
officially committed to funding $176,974 for Judson Phase I and as Tina's report
also stated there were some adjustments made and credit earned towards Ph. IL
He will elaborate on this more in his report, but as it turns out we need another
20,359.70 to complete Judson Ph II. The grand total for Judson Phase I and 11 is
$197,333.70 and this is the amount we can expect to be asked to pay out next as
funds are available.
Tax Return - We hired a CPA for the first time to prepare the Friends tax return
for 2010. The 2010 Friends tax return was emailed out to all Friends board
members. In the past we have always filed a 990 EZ, but due to a new IRS
requirement established in 2010 that all not for profits with gross receipts of
$200,000 or greater, have to file a 990. We retained Kathy Ploeh with Zientek &
Co. to file our return for $750. They gave us this reduced rate since Aany Sahely
had already done a lot of the work when she prepared a 990EZ. In subsequent
years, it will be $1500 to prepare our return if we should elect to retain this same
firm. We are also talking to them about providing monthly bookkeeping services
for Friends to make it easier on a volunteer treasurer and also to help us keep
abreast of changing tax rules, etc., as well as adopt a best practices approach. She
will provide us with a letter of engagement before any services are provided.
Interim Treasurer - Sue Hanna has taken over the treasurer position on an
interim basis until after PLB 2012
After Donna's report, Leah called for a motion to approve $1500 to spend on preparing
Friends' 2011 tax return. Matthew Foytlin made the motion and Anne Freeman seconded
the motion. The board unanimously approved.
Pavers Update (Matthew Foytlin)
Judson Park As everyone knows, the renovations to Judson Park stalled this past
summer. Prior to the renovation, Judson contained one area with room for
engraved pavers. These pavers are 8x8 octagonal pavers. While these pavers were
installed in several other parks, they can be difficult to remove (the number of sides
increases the likelihood of chipping while removing) and we have been told they are
not longer readily available for purchase. Just to complicate the situation further,
we could not locate the 16 or so octagonal pavers we had in stock. So, in order to install
such a paver, our installer would have to pull out an existing paver from Judson, fill in
that hole for safety purposes, only to remove the temporary placeholder several weeks
later when the engraved paver was installed. It was a logistical nightmare that was
delaying the installation of pavers from donors.