FLRC Community Manager Update Marilyn Tucker, our new Community Manager, has been busy. Since Day 1, she’s been tackling the challenges of our finances and office operations. Marilyn is a seasoned accountant with much experience in business and HOA’s, and she is bringing this expertise to our community. With tax deadlines looming, Marilyn is engaged in the enormous task of updating our financial records. Her role as Operations liaison will grow as these huge finance projects begin to wind down. Specifically, Marilyn is accomplishing the following:
1) General Ledger re-build She has been reviewing and correcting our GL accounts. These accounts must match the FLRC budget line items, but many of our GL accounts have never been used, and others need to be created. Aligning these accounts with our budget is critical to proper budget management.
2) QuickBooks update QuickBooks is the primary framework of our budget and financial reporting. It must be accurate, secure and backed-up, but prior to Marilyn’s arrival, it was not. This is being fixed. QB has been updated to the 2018 version, providing increased security and functionality. It is now backed up automatically to the QB cloud, and this new version allows us to bring payroll in-house as a cost savings measure. Marilyn has been reorganizing and reclassifying QB transaction entries, a huge undertaking. This will allow her to produce accurate, high quality financial reports – critical tools for FLRC financial planning and decision-making.
3) Banking transition is underway We are parting ways with Wauna CU and moving to US Bank. Our money will remain locally at the Vernonia branch. As a commercial bank, US Bank is better positioned to meet all of FLRC’s banking and investment needs: 1) a consolidated, single point access to all banking services 2) multiple accounts with customized account access (“view only” vs full access) 3) enables Deposit Express – checks can be deposited into FLRC accounts directly from a check reader in the FLRC office, increasing the timeliness and security of these transactions. Cash payments will no longer be accepted. 4) US Bank provides higher security, lower fees, and all funds are now fully insured (including reserve funds).
4) IRA Plan established Our full-time employees are now participants in a Vanguard SEP IRA plan. This replaces a previous retirement program, and brings tax advantages and cost savings to both our employees and FLRC.
5) Carbonite backup instituted FLRC has selected Carbonite, a leading provider of secure, cloud-based storage, as our off-site back up resource. All FLRC computer data is now backed up automatically and in real-time, providing unparalleled security for our critical financial and membership information
. 6) Document sharing A file sharing system will be implemented to provide seamless organization and sharing of FLRC documents.
7) “Paperless” office process begins soon A QuickBooks-compatible desktop scanner will be installed to allow an efficient move to a paperless office. Scanned documents can instantly be integrated into QuickBooks and will automatically be stored in Carbonite. This move to archive financial and historical documents will give us unprecedented file organization and security.
8) Office drop box installed A secure drop box has been installed on the outside of our FLRC office for check payments and election ballots.
9) Building security improved Both the FLRC office and Yoder Community Center door locks are now keyless with controlled digital codes required for entrance. Office computers and account user names and passwords have been changed and protected to better safeguard access and critical information. This is just a partial list of the tasks of our Community Manager. For further updates feel free to attend our monthly Board meetings (second Saturday of every month) or read the Board meeting minutes posted to our website (www.fishhawklake.com). Thank you! The FLRC Personnel Committee