July 11, 2007 Meeting
††††††††††† In attendance: Linda Fournier, Larry
Velte, Joe Meyer, Jim Messinger, Mary Hovland,
††††††††††† Virginia Scattergood, Dina Gorrell
Meeting called to order at
Approval of June Meeting Minutes: The June 13th minutes were distributed and
reviewed. Larry motioned to approve; Linda seconded.† Approved 6-0.
Approval of May Annual Meeting Minutes: The meeting minutes were distributed and reviewed.
Mary motioned to accept the minutes; Linda seconded; Approved 7-0.
Treasurerís Report: Jim informed the board that the current balance is $26,812.12. The
reserves total $6,334.25, with a grand total of $33,146.37
A tree bill was recently
paid in the approximate amount of $2,500. Note there has been a change in the
fee for the management company of $20 a month, making it a total of $7200 for
RCS Contract Renewal/Goldklang Renewal: Jim brought the Goldklang contract for review,
approval and signature. This is for the audit and tax preparation service for a
term of two years through 2008. All of the fees are the same and have been
budgeted for. After review, Mary motioned to accept the contract for 2007 and
2008 audits; Dina seconded. Approved 7-0.
There is a new proposed management
agreement from RCS. Joe noted that items such as address labels and incidental
services, although not written in the contract, will remain the same.† The total has increased from $580 to $600 a
month; however due to the timing of the contract, the increase would be waived
for the first month.
There has been a change in
the policy on resale packages: the state voted to allow a charge up to $325 (previously
only up to $100) for the packages, and RCS is no longer allowed to directly bill
the fees. Thus, the Association will pay the fee to RCS for preparation of the
packet; the settlement company collects the money and gives it to the
Association; if it isnít collected by the settlement company then the
Association would need to collect it.
Previously the owner of the
property requested the packet and paid RCS directly.
Because of the extra effort
for Rod to collect and manage this, the new maximum charge for resale packages will
Proposed solution: Rod gets
request and check; deposits it to the Association account. Mary will contact
Rod to further discuss the situation, and talk with a title company to see how
this is being handled.
Joe motioned to accept the
contract with the understanding that there would be possible changes to
paragraph 3 (d) once the Board has discussed the collection procedure with RCS.
Mary seconded; Approved 7-0. ††
The state corporation and DPOR
forms need to be updated with the elected officers, executed and paid for. This
does not need to be approved since it is a mandatory filing.
New Assessment Response: New bills for yearly dues went out. No feedback has
been received on how much has been collected or how many have been returned
Larry reported that the releases were done, and cover sheets were prepared for
the new liens, but the state law changed July 1st. The person
signing the document has to be on the same page as the notary seal. They needed
to be modified before being accepted.†
Jim will re-do the liens and they will be filed by August 1st.
†Three liens were paid and released
Discussion of late fees on
one of the delinquent accounts; the homeowner has been out of the country for
three years and was unaware of the reincorporation of the association or the
accumulation of the assessments and delinquent fees. Joe communicated with him
and he paid, requesting a waiver of the late fees of approximately $12 due to
the extenuating circumstances.† After
discussion, Mary motioned to waive the late fees under this circumstance. Larry
seconded.† Approved 7-0.
Web Site Updates/Corrections: The budget was sent to Greg to be put on the Web
site by Jim; however it had not been updated yet, so Joe will re-send it to
Greg along with the June meeting and annual meeting minutes for posting.
Resale Packet Addendums: Joe passed out suggested language to be included by
RCS in the re-sale packet if there are encroachment or building modification
After discussion it was
agreed that Joe will E-mail the proposed language to the Board for suggestions
and modification. It will be reviewed again at next monthís meeting.†
Request to Build a Bridge on Common Land: Larry spoke with the requester; He wants to build a
drawbridge to be hoisted up and locked while not in use. Additionally not
everyone would be able to use it, which is a violation of Association rules for
common land. Larry will contact the insurance company for an opinion on how a
bridge would affect the Associationís insurance.
Letter to Robinson for next year: Reservation of meeting space. The form may be
downloaded from the school Web site and sent in. Larry will fill in the form
for the second Wednesday, room 508, at 7:30pm. Linda will check the Web site
for a calendar of upcoming events that may effect the meeting location.
Communications from Members: Joe received a report that a fox was recently killed;
but there are reports of sightings of others in the neighborhood. Another
resident reported seeing a coyote.
Dina visited a property on Tapestry
that had requested a disclosure packet. She found a structure on the common
area which she notified the homeowner of, and was assured it will be removed;
however the house is not yet under contract so there remains time for
A resident on Tapestry
phoned to let the association know that the police had recently been at a house
on the corner of Tapestry and Braddock. Joe wrote to the neighborhood watch
representative to find out what went on.
Larry received word that a
neighbor reported a resident chopping down healthy trees on common land. The
Association agreed to send a letter telling him that the trees are on common ground
and therefore not owned by the homeowner. Larry will draft a letter to be sent.
Larry also noticed a
commercial truck parked in front of a house; that is not a violation of the
covenants, however the county code does not allow vehicles of that size to be
parked on the street. Larry will contact the county to see if this is an actual
violation or not.
A request has been received
for a deck approval. After review, Larry and Joe agreed to respond and indicate
that if a building permit has been obtained, it is acceptable to the
New Business: Jim has all of the turnover items from Bernie. The audit paperwork was
completed and submitted Ė a copy will be obtained.† In the May meeting a member asked why the
money isnít being used to make more money.
Jim reported on the
Associationís options. First, the reserve account could be moved to a 7 month
CD, at 5% interest it would gain $300 as opposed to $30/$40 per year at the
current rate.† The gain would be about
$280. If we needed to get at the money at any time during the 7 months, the
penalties would not be any more than what would be gained in the other account,
and it rolls over every 7 months. Jim contacted Rod to see if there are any
issues from a tax standpoint and if there are any other reasons to not be doing
The bank offered another
option; when the money from dues comes in, if $30,000 in NEW dollars can be
obtained, that account could be changed from a regular to a business account,
which would increase the interest to 4% from its current 1% rate. That gain
would bring in approximately a few thousand dollars, which may cover items such
as tree removal.† Jim will run this past
Rod and the accountants as well for any unknown issues or tax ramifications.
Joe asked what happens if the
money dips down; the amount in the CD would count towards the $30,000 total, so
we would probably not dip down below that amount. Nothing would need to be
changed, and no new fees would be incurred should this change occur.†
Jim will investigate the tax
implications and report back to the Board at the next meeting for a vote on the
reserve account, and change to business checking. †††††
Hearing no other new
business or outstanding items, Dina moved to adjourn; Mary seconded; and the
meeting concluded at 9:03pm.