Board Minutes January 2024: Difference between revisions
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→Treasurer's Report (5 min)
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*Need report link | *Need report link | ||
*Chris: Servus will not call in our loan on Jan 18. It is not due until Dec 2026. What happens on Jan 18 is that our amount owing increases $20,000. If we pay before or refinance, then we will save that 20k. Our loan increases, and our monthly payments increase because the principal increases. | *Chris: Servus will not call in our loan on Jan 18. It is not due until Dec 2026. What happens on Jan 18 is that our amount owing increases $20,000. If we pay before or refinance, then we will save that 20k. Our loan increases, and our monthly payments increase because the principal increases. | ||
*Marcel: my understanding is if we pay 40k by the 18th, we have paid the loan. If we don't, we owe 60k. | |||
*Chris: That's correct. | |||
=== Committee Reports (5 min) === | === Committee Reports (5 min) === | ||