← 9 Country Club Ln N, Briarcliff Manor, NY 10510 · All properties

UPDATES.md

This page is a searchable text preview. Use the Dropbox link for the full original file.

Property	9 Country Club Ln N, Briarcliff Manor, NY 10510
Folder	README & Property Snapshot
Kind	Text
Updated	2026-07-15
Dropbox path	`00 - README & Property Snapshot/UPDATES.md`

What This File Appears To Be

## Accrual Funding Reconciliation (2026-07-15) The ECO GL begins `2025-07-01`, the first day of the month before the first token sale on `2025-08-15`. Earlier rows are excluded from this DAO's GL. - ECO GL Column E accounting position: **-$3,684.28**. - Open accrual requirement: **$64,866.38** (insurance reserve $7,129.64, legal dao payable $750.00, noah interest payable $5,750.00, pm payable $12,799.07, tax reserve $38,437.67). - Other accounts payabl

Text Preview

## Accrual Funding Reconciliation (2026-07-15)

The ECO GL begins `2025-07-01`, the first day of the month before the first token sale on `2025-08-15`. Earlier rows are excluded from this DAO's GL.

- ECO GL Column E accounting position: **-$3,684.28**.
- Open accrual requirement: **$64,866.38** (insurance reserve $7,129.64, legal dao payable $750.00, noah interest payable $5,750.00, pm payable $12,799.07, tax reserve $38,437.67).
- Other accounts payable / receivable: **$336.27 AP** and **$0.00 AR**.
- Live unrestricted DAO bank cash: **$36,981.50**.
- Restricted cash excluded from ordinary funding: **$0.00**.
- Bank funding gap after net AR/AP: **$28,221.15 underfunded**; surplus **$0.00**.

Column E is the accounting/CF-close position, not current bank cash. Month-end reset and capital-close rows remain in Column E but are non-cash and are excluded from every inter-DAO transfer and bank-underfunding calculation. A positive Column E balance therefore does not by itself mean the bank has enough cash to pay open accruals.

Current net cash schedule affecting this DAO:
- Pay ECO Systems LLC: $13,821.60 (funding required before full transfer)
- Pay Noah Simon: $5,750.00 (funding required before full transfer)
- Pay Heron LFTY0314 DAO LLC: $63.74 (funding required before full transfer)

Taxes, insurance, and escrow accruals are reserve requirements rather than immediate external payment instructions. Transfers marked funding required should not be executed in full until the incoming reimbursements, reserve top-up, or approved financing is available.

## 2026-07-15

- Financial Reconciliation Correction:
- The prior listing's **-$40,484.52 "ECO Operating Cash"** was not a bank balance. It was the cumulative raw ECO GL sum and mixed operating activity, accrued payables, mortgage settlements, owner capital, and transfers.
- June 2026 net operating cash flow is **$7,344.11**.
- June 30 retained earnings are **$1,326.83** and ECO operating principal is **$0.00**.
- Baselane bank cash is **$36,981.50** before **$18,885.34** of required ECO, Heron, and Noah transfers; projected post-transfer bank cash is **$18,096.16**.
- That projected cash is not distributable: listed tax, insurance, and legal liabilities remaining after all three transfers total **$46,317.31**.
- The **$5,750.00 Noah payment** is two months of ordinary DAO mortgage interest payable and does not require governance.
- July 2026 remains open at **-$3,684.28** in ECO GL Column E.

## 2026-07-14

- Property Update (07/14/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

Financial data is shown as of 2026-06.

## Cash Flow Snapshot (2026-06)

Revenue: $24,100.40
Operating Expenses: -$15,434.20
NOI: $8,666.20
Net Operating Cashflow: -$2,833.80

## Monthly Cash Position (2026-06)

Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.

Lofty Operating Cash: $3,108.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$40,484.52 (ECO Systems General Ledger Column E (198 rows))

# Property Updates

## 2026-07-09

- Property Update (07/09/2026):
- Owner-Proposed Governance Vote for 9 Country Club Ln N:
- Historical notice: this receipt-submission vote is unrelated to the two outstanding $2,875 mortgage-interest payments. The $5,750 mortgage-interest payable to Noah is an ordinary DAO obligation and does not require governance.
- An Owner with the following [wallet address](https://allo.info/account/QVFBHWGZVKIJXBKOYHWL6UQ6CD2Z6YQMV7H5KOE7CNG25GIM2PSVZONOVE) is proposing a governance vote.
- This owner holds 100 shares in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- Governance Proposal: Resolution of Outstanding Reimbursements for The DAO's Co-Owner
- Context A DAO co-owner (Noah) is owed for several items for the property but has not supplied receipts. To get this property to have a proper financial picture, we need to settle this up timely.
- We are voting on whether to implement a strict submission window or maintain the status quo. If Option A passes, Noah will have exactly 5 business days from the conclusion of this vote to submit all valid receipts to DAO. If the deadline passes without the required documentation, the reimbursement request will be permanently canceled, and the funds will remain in the DAO account.
- Voting Options
- Option A: Implement a 5-business-day timeline. Noah must supply all valid receipts within 5 business days of the vote's conclusion, or the reimbursement is forfeited.
- Option B: Do nothing. Keep the reimbursement request open indefinitely without a strict deadline.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, July 14th, once the voting period ends.

Financial summary:
- Lofty-held current maintenance reserve: $3,108.19
- ECO GL Column E sum: -$10,334.84 (178 rows)

## 2025-11-16

- Property Update (11/16/2025):
- Owners are receiving the net cash flow for October on a daily basis from November 15th through December 14th.
- October's net cash flow totaled $0, compared to September's net cash flow of $8,531.84 (100% decrease), on account of a large investment in a [TV feature](https://discord.com/channels/847877825373012018/1379898174835134645/1437941577640181951) on [Staycation](https://www.thedestinationchannel.com/get-featured-staycation) on the Destination Channel, as well as new furnishings and interior design. The cost of the interior designer is being subsidized by the co-owner, Noah Simon, but a capital call for the furnishings and marketing is subject to an upcoming governance vote.
- [P&L Statement](https://www.dropbox.com/scl/fi/emwqqww18rge0ls4tj99v/Cash-Flow-Statement-9-Country-Club-Lane-North-Briarcliff-Manor-NY-10510.xlsx?rlkey=oaut2zt3wd3azr7fum4u6bmsy&dl=0)
- All financial data are in [Dropbox](https://asset.lofty.ai/LFTY0476) and Metrics are in [Hospitable](https://share.hospitable.com/metrics/350c4051-ef8b-4208-b44c-a895e21e8b97). Email earl@earlbnb.com if something is missing.

## 2025-10-22

- Property Update (10/22/2025):
- Owner-proposed Governance Results for 9 Country Club Ln N:
- The governance results are back for the most recent governance vote.
- The winning vote is:
- maintain status quo of paying out all FCF
- This voting option received 13/28 votes and received 76% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
- The voting results can be found on chain [here](https://allo.info/application/3277225211) or by searching the application ID: 3277225211

## 2025-10-17

- Property Update (10/17/2025):
- Owner-Proposed Governance Vote for 9 Country Club Ln N:
- An Owner with the following [wallet address](https://allo.info/account/TBM7IBZYTO5GGMTELJXSIAV5N55YETID4CXR5E23P2C3ARKPNWKII2LS3M) is proposing a governance vote.
- This owner holds 80 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- "while stone manor is in a depressed price point from the oddities surrounding the oracle price adjustment last month, we have a unique opportunity to make some accretive share repurchases.
- I would like to propose that we spend 50% of FCF (free cash flow) on share repurchases while share price is below 80% of NAV (net asset value) and 25% of FCF on share repurchases while share price is below 90% of NAV
- Vote:
- 1) accept the aforementioned terms and cut our yield to increase our equity
- 2) maintain status quo of paying out all FCF"
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, October 21st, once the voting period ends.