I just sent this quick note to our new general manager, Shulie Wollman:
At last year’s annual meeting, a cooperator asked about the perennially late financial report that’s distributed just hours before our annual meeting, and you suggested that the coop’s auditors were to blame. Any luck this year getting them to move more quickly, or have you hired a new auditing firm, in order to get this information to cooperators in a more timely manner?
Also, we’re now 1/4 into our new fiscal year and I don’t see a budget posted for 2016-2017. Do you know when that will be available?
I’ll let you know what his answer is.
Update 9/30: After a second email, Shulie Wollman replied:
Dear Mr. Sherber:
Sorry for the late response, your email was in my spam folder.
Our goal is to release the financial report as early as possible. This year we updated our computer systems. Because this was done during the fiscal year the auditors need additional time to audit the year-end financial statements of East River Housing contained in the 2 systems. While this may take extra time for this past fiscal year once all our financial programs are running a full fiscal year on the new system reports and audits should be easier to produce, complete and distribute, likewise the budget which can only be prepared and approved after the closeout of the last fiscal year should be made available earlier in the future.
The new computer system will be of great benefit in supplying more timely financial information to the Board and Cooperators.
Happy New Year