Vaux January Financials -- February Adjustment Request

[Tim Ackley]

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

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Tim Ackley

2335 NW Raleigh Street Unit 139

Portland, Oregon 97210

 

Cell: 480-694-7059

Email: tim.ack...@gmail.com