1. LWV Finance 2. Real World Finance

1. LWV
April 03, 2008
Residents Voice
04/03/08 Residents Voice 1

2. “Following the Money”
4/03/2008
Tonight’s Subjects !
• “LWV Finance 101 (recap)”
•“Real Life Finance 101”
04/03/08 Residents Voice 2

3. Third Mutual United Mutual
$532.62/mo x $501.88/mo x
12mo x 6102 Personal Savings 12mo x 6323
LWV Finance 101 (recap)
2008 Monthly Who Knows ?
Basic Assessments
$38.08M/yr Where does
it GO ?
$39.00M/yr
04/03/08 Residents Voice 3

4. Who Monitors & Reviews
Payments From This Account ?
• The United Mutual Treasurer – No!
• The Third Mutual Treasurer – No!
• The Towers Treasurer – No!
• The GRF Treasurer – No!
04/03/08 Residents Voice 4

5. 2003 – 2013 Trend of
Basic Monthly Assessments
$1,200 Towers
$1,100
$1,000
$900 United & Third
$800
$700
$600
$500
$400
$300
$200
$100
$0
2003 2008 2013
04/03/08 Residents Voice 5

6. Real Life Finance 101
United Third
Account A
Account B
GRF
Towers
Account C
Account D
Where should our assessments go ?
04/03/08 Residents Voice 6

7. Using Third Mutual as Example
GRF Mutual Third Mutual
Treasurer Treasurer
Sends Bill to 3rd
for Payment
GRF
Invoice
1. Paint $100 3rd Treas Reviews Bill –
Payment to GRF Authorizes Payment
Account B
04/03/08 Residents Voice 7

8. “Our” Corporate Attorney ?
United
Third Towers
HKC
GRF PCM
04/03/08 Residents Voice 8

9. Bonus & Incentive
PCM
$39 B Corp.
LWV Incentives PCM
04/03/08 Residents Voice
Employees 9

10. New Way of Doing Business !
• Housing Mutuals take control of our
assessment monies.
• Housing Mutuals review the expenses
related to that Mutual.
• Housing Mutuals hire their own
attorneys.
• Housing Mutuals no longer pay bonus
and incentives for PCM employees.
04/03/08 Residents Voice 10

11. THE END
04/03/08 Residents Voice 11