Orientation for the new COUCH Treasurer[]
Responsibilities[]
Pay rent monthly to NASCO. If this is your first month, email Daniel Miller at NASCO Properties to request that he send the bill to you so you can write a check to him. He records the date on the check as the date paid, so unless you write the check after the due date, you will not be charged late rent. This is because the checks are often slow to arrive. We are only required to pay what we bring in, the rest of the rent will automatically be deducted from our vacancy reserves.
Keep track of payments. Payments to NASCO from previous months might not go through until after the next bill is sent. That being said, it is very important to keep track of what has and has not been paid. In addition, keep track of other payments that move through the account to make sure it is correct and we are getting properly reimbursed, if that is the case. Send the monthly statements to Daniella. The low balance sometimes can get pretty low (<$1000), so we don't want to overdraw the account.
Soon COUCH will be transitioning into using Quickbooks and will need to send Daniel at NP monthly Profit & Loss and Balance Sheet reports. We should try to have this in place by the start of 2017. NP gives us the opportunity to opt out if we choose, but also to pay for our Quickbooks software.
Attend COUCH meetings. Money for food (if purchased) should come out of the COUCH account. Report major and minor maintenance fund balances at each meeting.
Renew PO Box annually. Our PO Box is #561 in Urbana, IL 61801. This costs us $70/year. There are two keys: Jacob and Daniella each have one. The reminder to pay will be put in the PO Box one month in advance.
Security Deposits. Collect one security deposit per room, when the person signs their lease. Subletting individuals do not have to pay a security deposit, unless the previous person is permanently moving out and collecting their security deposit from COUCH.
Interactions with NASCO Properties[]
Vacancy Fund. Every month, COUCH pays into a vacancy fund, which is money held by NASCO for us. This is COUCH money. NASCO has it in the books as money owed to COUCH and COUCH should be recording it as money owed to us. We should keep this in mind when financial decisions are made. Every August, budget the vacancy funds for the next year.
Current Treasurer:[]
Jacob