Residents Voice 1

LWVApril 03, 2008

Residents Voice

04/03/08

Residents Voice 204/03/08

“Following the Money”

4/03/2008

Tonight’s Subjects !

• “LWV Finance 101 (recap)”

• “Real Life Finance 101”

Residents Voice 304/03/08

Personal Savings

2008 MonthlyBasic Assessments

Third Mutual United Mutual

Who Knows ?

$532.62/mo x12mo x 6102

$501.88/mo x12mo x 6323

$39.00M/yr

$38.08M/yr Where doesit GO ?

LWV Finance 101 (recap)

Residents Voice 404/03/08

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!

Residents Voice 504/03/08

2003 – 2013 Trend ofBasic Monthly Assessments

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

2003 2008 2013

United & Third

Towers

Residents Voice 604/03/08

Real Life Finance 101

United

TowersGRF

Third

Account A

Account B

Account CAccount D

Where should our assessments go ?

Residents Voice 704/03/08

Using Third Mutual as Example

Account B

GRF

Invoice

1. Paint $100

GRF Mutual Treasurer

Third MutualTreasurer

Sends Bill to 3rd for Payment

3rd Treas Reviews Bill – Authorizes PaymentPayment to GRF

Residents Voice 804/03/08

“Our” Corporate Attorney ?

HKC

Towers

PCMGRF

United

Third

Residents Voice 904/03/08

Bonus & IncentivePCM

$39 B Corp.

PCMEmployees

IncentivesLWV

Residents Voice 1004/03/08

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.

Residents Voice 1104/03/08

THE END