During the March Council meeting, Ann Reddout made a motion under new business to obtain a More Complete Financial Report from the FPH Administration. The Council passed a Motion to Appoint a Committee to Formulate the Parameters of the Primary Motion. Both Motions were passed by the Council during their regular Meeting on March 10, 2015.
Ann’s listing of the financial details presented at the Council Meeting was provided by me to Patty Fekete, Director of Finance. We agreed to have a meeting between the Council Committee and the Administration following the meeting by the Committee to Formulate the Parameters of the Primary Motion.
I appointed a Committee composed of Ann Reddout, Paul Collyer (Chairperson of the Resident Finance Committee) and the Resident Executive Committee. The Committee had an initial meeting on March 16 during which the Committee members reviewed the motion, Ann’s listing and decided on the parameters of the financial information to be requested from the Administration. These included further clarification on the three Loving Care Endowment Funds figures and also more information on the debts owed by FPH. Sam Reck (Resident Treasurer) consolidated the clarification and forwarded the request to Patty.
On April 1, a meeting was held with Patty and John for about one hour. The discussion ranged widely over accounting practices, procedures and reasoning thereof. By the end of the meeting the participants were agreed that the meeting had answered the questions raised by Ann and others at the meeting. Patty had prepared a financial information book which will be updated and available for examination by the residents at Ann Smith’s desk in the Reception Lobby. Patty said she is developing a Loving Care Fund report in an easier to understand format. Should a resident need assistance to understand the financial information, she can be contacted by telephone: 577-6040 or e-mail: firstname.lastname@example.org.
I have presented the above information to provide a better understanding about the Administration’s continuing desire to positively respond to the concerns of the residents. Our relationship with the Administration and the FPH Board is unique among retirement communities. Not only does the Association have two permanent positions on the Board, but the Vice President and Past President are invited to attend the meetings of the Board’s four committees as non-voting members.
—Bob Bourquein, President