Hi Alice!

Thanks for your interest in these things!
In the finance meeting the other day there was a lot of talk about insurance and its complications. David Keenan has historically been the one bottomlining the enormous task of keeping us insured (and therefore keeping our lease!). If you have some ideas on how to streamline and reduce our insurance costs, I for one would be so down. If you can explain larger concepts of insurance to me so I understand its nuances and pricing, bless you. I will make you cookies :)

I believe the next finance meeting is next weds at 7:30. Is that true, financiers? I invite you to come help us figure it all out!

$$$$$,

amgo

I tried to answer a few of your questions below...

On Thu, Jan 29, 2015 at 4:58 PM, Alice Rosenthal <beehappysolutions@gmail.com> wrote:

On Jan 28, 2015, at 10:46 AM, Sarah Pritchard <sarahloupritchard@gmail.com> wrote:

Hi there!
See below for a link to Sudo Room's invoice for January's shared expenses at the Omni. Take a look and let me know if you have any questions.

For your reference, here is the breakdown of the Omni's total expenses (utilities, taxes, & insurance) from this month:
PG&E: $691.74
EBMUD: $390.09
Waste Management: $60.21
Building Insurance: $660.00
Why are renters paying Building Insurance?
$660 a month is a lot for insurance. It's in our lease!
General Liability Insurance: $188.16
This seems very reasonable for Liability insurance. Maybe a little too low Hmm, maybe you are right. I will look into it.

Director's & Officer's Insurance: $302.00
$302 a month seems like a lot - that is $3600 a year - that seems like a lot. Idno...DK?
Taxes: $595.62
What kind of taxes are these? Sales tax? Business Tax?

Sorry to ask such questions but maybe you can save some money here.

I have been told that Insurance companies don’t want to write policies for less than $800 - so you may just be paying a bunch of money for not a very good reason like that is the least they will charge to write a policy.

One idea might be to look into collectiivizing insurance. Perhaps there are individuals with insurance needs that can come together to get more coverage and lower the cost.

The utilities are split evenly between member collectives and tenants. All of our taxes and insurance are shared between member collectives only.

Let me know if you have any questions, and please pay Sudo's portion of the shared expenses as soon as you're able.

Thanks and <3,
Sarah + Omni Finances WG

Below please find a link to Invoice #132.

Amount due: $433.72 USD

Due by: 2015-02-01

To view this invoice, please visit: https://waveapps.com/qv2frm-tjm6xh
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•amgo•