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Audit Department Helps Drive Change At Riverbay
Vol. 52 No. 43
© Copyright 2017 Co-op City Times
Saturday, October 28, 2017
For four years beginning in 2010, the Riverbay Corp. did not staff its internal audit department, leaving the corporation without an independent oversight function within the company. In the spring of 2014, a new Board of Directors led by former Board President Cleve Taylor made reinstating the audit department a top priority, and in September 2015, Averil M. James-Bonnette was The audit department staff at Riverbay – (l-r) Richard recruited to build an audit Savino, Ronald Smith, Averil M. James-Bonnette, Ambudepartment from scratch. jam Menon and Mohammed Sadi. Photo by Jim Roberts After two years, the department is now up and running. The staff includes “I was hired by the Board of Directors, so James-Bonnette, a Certified Internal Auditor, functionally, I report to the Board of the two certified public accountants, and two Directors and Audit Committee, chaired by degreed members, one a former employee of Andrea Leslie, and report administratively to PricewaterhouseCoopers (PWC) now work(Continued on page 4) ing on his CPA. BY JIM ROBERTS
November Carrying Charge Payments
In observance of Veterans’ Day, Riverbay Corporation will be closed for business on Friday, November 10. The last day to pay your November 2017 carrying charges without incurring a late fee will be Monday, November 13. Drop boxes located in the three community centers will remain open over the weekend of November 11 and 12, and will be closed on Monday night. —Riverbay Finance Department
Riverbay And City’s First Responder Agencies Meet To Coordinate Future Emergency Response Procedures
25¢
Board Training Ensures Professional, Productive & Lawful Board Practices Linda Berk
President’s Message President
This past weekend, eleven Board directors attended a board development program in Rye Brook, NY. These Board directors spent all day Saturday and half of Sunday, covering everything from Business Corporate Law, Riverbay Corporation ByLaws, resolutions, appropriate communication rules and techniques, and the four duties of care, loyalty, good faith and disclosure. Some lessons were new, others were a good reinforcement of lessons that are needed. As a corporation with a quarter of a billion-dollar annual budget, directors who are responsible for the oversight and care of our homes and property should be trained and well versed in the by-laws, rules, laws and resolutions that bind us to effective and legal business. Spending a small amount of money ($.65 per apartment) to ensure that your Board is professional, productive and legal, is the best ROI (return on investment) we can ask for, an excellent insurance policy. I have included our agenda and a listing of topics covered for your review. I can assure you that this training has given eleven Board directors the confidence to know that they have a handle on the incredible responsibility we provide for this community. Next year’s training will be (Continued on page 2)
Not For The Faint Of Heart
Riverbay’s top management, department heads and Public Safety met with representatives of the city’s first responder agencies to discuss better coordination of response during an emergency. Photo by Bill Stuttig
To help improve perceived inefficiencies in the coordination of responses to emergency situations between Riverbay and city emergency responders, top commanders from the Department of Public Safety and Riverbay’s executive management sat down with representatives of the city’s emergency response agencies Thursday afternoon in the Bartow Community Center. The meeting was coordinated through the efforts of Community Board 10 District Manager Matt Cruz at the request of Riverbay. Outside agencies participating included the city’s Fire Department represented by Bronx Borough Manager Adam Lessuck, (Continued on page 4) BY BILL STUTTIG
Brave souls who dare take a tour of this year’s Haunted House, designed and built by young Co-op City volunteers, can come to the Bartow Center’s room 28 this afternoon, Saturday, Oct. 28, and tomorrow, Oct. 29, from 4-8 p.m. both days. (See related article on page 3, as well as photos on page 16 from the 2017 Halloween Costume Party held on Thursday, Oct. 26 in the Dreiser Auditorium.) Photo by Ralph Henriquez