Council & Committees
Resident Committees 

FINANCE COMMITTEE

RESIDENT FAQS 3-1-24
Resident Frequently Asked Questions, March 1, 2024

2023 TAX LETTER MEDICAL DEDUCTION
Tax Letter
Medication Deduction Information

MINUTES & KEY DOCUMENTS

April 10, 2024 meeting minutes
Elrod GHAH 4/10/14 presentation

March 13, 2024 meeting minutes

February 14, 2024 meeting minutes

Att. 1 of 2 to 2/14/24 minutes: Financial Focus 12/23
Att. 2 of 2 to 2/14/24 minutes: Actuarial Review 2023

January 12, 2024 meeting minutes

November 28, 2023 meeting minutes
(at which CFO Smith discusses fiscal year-end financial performance)

October 18, 2023 meeting minutes

September 20, 2023 meeting minutes
(at which Lindsay Hutter and Sue Dolton discuss the FY 2024 marketing budget)

August 29, 2023 meeting minutes 
(at which CFO Smith previews the FY24 budget)

July 19, 2023 meeting minutes
(at which Andy Siegel, Chief Business Development Officer, and Melinda Gren, VP of Performance & Operations for Home and Community-Based Services, answer Committee questions)

June 19, 2023 meeting minutes
(at which CFO  Xan Smith addresses financial performance, answers questions)

May 17, 2023 meeting minutes

Presentation to May 17, 2023 meeting
(addressing Goodwin Living at Home & actuarial trends)

April 19, 2023 Finance Committee meeting minutes

March 15, 2023 Meeting with CFO Xan Smith
(at which Smith describes 1st Q performance)

GHI audited financial statements 9/30/2022

GHBC FINANCIAL PRIMER
For a GHBC Financial Primer click HERE 

NaCCRA FINANCIAL SOUNDNESS INFORMATION

For the NaCCRA "Financial Soundness Handbook," click HERE

NaCCRA article about The Senior Living Business, Feb. 2022, click HERE

FINANCE COMMITTEE CHARTER

The Finance Committee is a committee of the Resident Council and, as such, its primary responsibilities will be:

1.   LIAISON WITH MANAGEMENT.  A major purpose of the Committee is to provide liaison and communication between residents and management in matters of financial interest to residents.  To this end, the resident Finance Committee Chair is a non-voting representative  tothe Finance Committee of the Board of Trustees of Goodwin House Inc.

2.   BUDGET. 

1. To maintain cognizance of the overall financial condition of Goodwin House Bailey’s Crossroads to assure that it will be financially capable of delivering quality life-care to residents who have prepaid for such care through their entry and monthly fees.
2. To monitor the development of the annual Goodwin House Bailey’s Crossroads budgets and coordinate with the Resident Council
3. To report to the Resident Council on matters of interest; and, following the quarterly meeting of the Goodwin House Incorporated Finance Committee, report those significant and pertinent actions taken by the GHI Finance Committee that are of financial interest to the residents.

3.   RESIDENTS’ FEES.  To maintain regular liaison with the financial officers of Goodwin House Inc. to understand the basis of any proposed changes in residents’ monthly fees. 

The Committee will accept, investigate, and respond to comments, questions, and suggestions regarding matters within its purview, and at the direction of the Council, report directly to the residents regarding financial matters that affect them.

Unless otherwise notified, the Finance Committee will meet monthly.

Amended Charter approved by Resident Council , 30 Nov 2018