Vaux January Financials -- February Adjustment Request

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Tim Ackley

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Mar 2, 2026, 5:05:38 PMMar 2
to The Vaux, vauxof...@googlegroups.com
Tim, Amanda, Anela,

The January reporting package includes an entry for 2025 activity that was neither recorded in 2025 nor charged to the appropriate fund & project. Kin Living prepared an invoice in January (see attached). Some questions:
  • Why did Kin Living prepare an invoice approximately six months after the work concluded?
  • Why was an invoice for 2025 work prepared by Kin Living before the final 2025 closing process was completed recorded as 2026 activity?
  • Why was work supporting a reserve project charged as an operating expense?
  • Why weren't Board members informed, for their approval, that the project would incur an additional charge? And for how much?
I am disappointed by the delay and the surprise. I understand the 2025 audit will correct this reporting error with a prior-period adjustment reclassifying it as a 2025 expenditure. But this will occur much later in 2026. In the meantime, I recommend that we track the amount properly.

The amount charged covers work that supported a reserve project. It should be captured as a reserve expenditure and included in the total project cost for the windows and doors project. Three reserve project identifiers were used for the project: a general one (the down payment), one for windows, and one for doors. 

I request a February adjustment to reclassify the $2,660 amount from an operating expense to a reserve expenditure as follows:
  • Credit $2,660 to (Operations) account 560-3200 Management Fee - Additional
  • Charge $2,660 to (Replacement Reserve) account 580-7124 Encl 11/J03 Metal Clad Wooden Windows (the "general" account)
Of course, an inter-fund transfer component also applies, but I know Anela will take care of that, too.

Something broke down in 2025. Let's work together to ensure this doesn't happen again.

Thank you,

Tim

--
Tim Ackley
2335 NW Raleigh Street Unit 139
Portland, Oregon 97210
 
Kin Living Invoice 2026-01-15.pdf

Tim Ackley

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Mar 13, 2026, 9:05:40 PMMar 13
to vauxof...@googlegroups.com
Below is the response I just received from Tim M. regarding a 2025 reserve expense that was recorded in 2026 as an operating expense. 

At next Wednesday's March meeting, please add an action item to approve a resolution reclassifying the expense. It is more appropriate to track this in reserves throughout the year; it was a cost associated with the windows & doors project. The auditors will recommend adjusting the timing from 2026 to 2025 later this year as a result of the 2025 audit.

The background and adjustment request portion of the email I sent to Tim M. follows:

"The amount charged covers work that supported a reserve project. It should be captured as a reserve expenditure and included in the total project cost for the windows and doors project. Three reserve project identifiers were used for the project: a general one (the down payment), one for windows, and one for doors. 

I request a February adjustment to reclassify the $2,660 amount from an operating expense to a reserve expenditure as follows:
  • Credit $2,660 to (Operations) account 560-3200 Management Fee - Additional
  • Charge $2,660 to (Replacement Reserve) account 580-7124 Encl 11/J03 Metal Clad Wooden Windows (the "general" account)
Of course, an inter-fund transfer component also applies, but I know Anela will take care of that, too."

Since this adjustment charges reserves, we need to pass a resolution to make it happen.

Tim

--
Tim Ackley
2335 NW Raleigh Street Unit 139
Portland, Oregon 97210
 


---------- Forwarded message ---------
From: Tim Miller (Vaux Condominium) <va...@kinliving.com>
Date: Fri, Mar 13, 2026 at 4:26 PM
Subject: [Kin Living] Re: Vaux January Financials -- February Adjustment Request
To: Tim Ackley <tim.ack...@gmail.com>


Tim,
 
Getting a chance to follow up to questions in this thread. Please see below:

 
Why did Kin Living prepare an invoice approximately six months after the work concluded?
Kin Living currently does not have a formal system in place to track out-of-contract time as it occurs. As a result, managers must work with our corporate accounting team to manually compile the time and create invoices after the fact. In this case, the delay is largely attributable to me and the timing of that process. Going forward, we will work to ensure that any out-of-contract invoices are processed in a more timely manner.

 
Why was an invoice for 2025 work prepared by Kin Living before the final 2025 closing process was completed recorded as 2026 activity?
This was primarily a function of timing, and I apologize for the confusion it created. Because the invoice was generated after the year-end closing timeline, it was recorded as a 2026 activity. If the Board would prefer that the expense be recognized in 2025, we can coordinate with accounting to capture it as an adjusting journal entry during the financial review.

 
Why was work supporting a reserve project charged as an operating expense?
The expense was coded to the operating budget because the out-of-contract allowance for Kin Living management time is budgeted within the operating account. If the Board would prefer that the cost be reclassified as a reserve expense given the nature of the project, please let us know and we can make that adjustment.

 
Why weren't Board members informed, for their approval, that the project would incur an additional charge? And for how much?
During discussions of the project, it was disclosed that management time associated with the effort would be considered out-of-contract and subject to additional charges. The work and scope were subsequently discussed during regroup conversations with Hal and Paul as the project progressed.
This effort spanned multiple years—beginning with the inspection work in 2023, continuing through planning in 2024, and culminating in coordination and implementation in 2025. We hope the volume of tickets and documentation associated with the work helps illustrate the level of effort involved and supports the amount billed.
 
We are mindful of the impact of out-of-contract costs and worked to help offset management time where possible, including involving the Operations Committee to assist with access coordination. The overall scope required completing the survey, identifying the work required, coordinating vendor access to units, obtaining proposals, and coordinating the repairs. Additionally, at the Board’s request, further effort was required for Unit 412 to solicit bids from additional vendors. Our goal was to ensure the work was thoroughly managed and completed appropriately, and we hope the invoice reflects a fair accounting of the services provided.

Regards,

Tim
Your Vaux Management Team

General Mailbox:
PO Box 4120 PMB 94598
Portland, OR 97208

Invoice Submissions:
Mail: PO Box 4120 PMB 48997, Portland, OR 97208
Email: inv...@kinliving.com

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On March 5, 2026 at 9:02:12 PM UTC, Amanda Drake va...@kinliving.com wrote:

You got it!
 
 

Regards,

Amanda
Your Vaux Management Team

General Mailbox:
PO Box 4120 PMB 94598
Portland, OR 97208

Invoice Submissions:
Mail: PO Box 4120 PMB 48997, Portland, OR 97208
Email: inv...@kinliving.com

Women and Minority Business Enterprise

This message is intended for the sole use of the individual to whom it is addressed, and may contain information that is privileged, confidential and exempt from disclosure under applicable law. You are hereby notified that the information contained herein may not be used, copied, disclosed or distributed to anyone. If you have received this message in error, please immediately advise the sender by reply email and delete this.


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On March 5, 2026 at 8:45:47 PM UTC, Tim Ackley tim.ack...@gmail.com wrote:
Amanda,

Yes, it was. Thanks for touching base.

Tim

--
Tim Ackley
2335 NW Raleigh Street Unit 139
Portland, Oregon 97210
 


On Thu, Mar 5, 2026 at 12:38 PM Amanda Drake (Vaux Condominium) <va...@kinliving.com> wrote:

Hi Tim,
 
I must admit, this project was before my time with Kin Living and Tim Miller is currently out on vacation returning next week.
 
I will bring this to his attention as soon as he returns, and we will get these questions answered for you!
 
 
 
 

Regards,

Amanda
Your Vaux Management Team

General Mailbox:
PO Box 4120 PMB 94598
Portland, OR 97208

Invoice Submissions:
Mail: PO Box 4120 PMB 48997, Portland, OR 97208
Email: inv...@kinliving.com

Women and Minority Business Enterprise

This message is intended for the sole use of the individual to whom it is addressed, and may contain information that is privileged, confidential and exempt from disclosure under applicable law. You are hereby notified that the information contained herein may not be used, copied, disclosed or distributed to anyone. If you have received this message in error, please immediately advise the sender by reply email and delete this.


This email is a service from Vaux Condominium.
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