CTC Board: January Update
Dear Neighbors,
Happy New Year!!! We hope that the winter break has been a time of relaxation and quality time with your friends and family. In this letter we detail the actions taken by the board of directors this quarter.
Annual Member Meeting 2022
The mandatory annual members meeting will be held on April 28, 2022. Residents can expect an email detailing the time and modality of the meeting in the coming weeks.
Welcome to New Board Member
The CTC's board of directors is pleased to welcome Munkh-Erdene (Muugii) Bombyk as the newest board member.
If you are interested in serving on the board of directors you can fill out an application or learn more here. Board members will be elected at the Annual Members Meeting in April.
Discussion of Safety
The board of directors continues to discuss the possible ways to promote and ensure community safety. In October, we met with University of Minnesota Police (UMPD) to discuss ways to ensure a safe community. Despite some recent incidents involving catalytic converter and bicycle thefts, UMPD emphasized that CTC is a safe community. They also stated that among the most effective ways to promote community safety is to get to know your fellow residents so that if something is out of place you can recognize it. If you do see something, call 911 or call UMPD 612-627-2677. By reporting incidents, UMPD is more capable of assisting where needed. More information on community safety can be found here.
Proposed Changes to the CTC Bylaws
The board of directors have reviewed the current bylaws and have worked to make improved changes. These will be presented for a community member vote at the upcoming Annual Members Meeting, April 28, 2022.
Annual Audit
The FY 2020-2021 Audit was conducted and approved with no irregularities or concerns. The board will meet in January to approve the fiscal year 2022-2023 operating budget and fee schedule.
FY 2020-2021 Financial Overview
With the completion of the FY20-21 audit, the final financial results are in, meeting our cooperative goals! This year the Co-op was successful in financial planning, resulting in no excess income for the year. What this means? The Co-ops goal is to provide affordable family living in a wonderful community. By successfully managing expenses and continuing to minimize rental increases below market. Any slight excess in funds are being allocated to offsetting the ever increasing fees from the University. This means you keep more of your cash in your pocket!
Sincerely,
Tanner Deeds, Board Chair
Muugii Bombyk, Board Member
