Kings Park West Community Association
September 12, 2007 Meeting
In attendance: Linda Fournier, Joe Meyer, Jim Messinger, Larry Velte, Dina Gorrell, Mary Hovland, Virginia Scattergood
Meeting called to order at 7:32pm.
Approval of August Meeting Minutes: The August 8th minutes were distributed and reviewed. Jim motioned to approve; Joe seconded. Approved 7-0.
Treasurer’s Report: Jim informed the board that the current balance is $44,224.65. Pursuant to the vote at the last meeting, the Association now has $5,335.00 in a 7-month CD. There is a total of $1,001.16 remaining in the reserves, bringing the grand total of funds to $50,561.40.
Quarterly report. Three months into the 2008 budget $5,737.24 has been spent. Half of the tree budget has been spent (this is more than usual for the time period). However the legal account is under the predicted budget. The unexpended portion of the funds totals $24,282.76.
Fees- 77 households are 30 days past due, leaving approximately $3,000 outstanding.
Liens- 10 outstanding liens exist, which encompass 2% of the budget. One lien has been partially paid; another one has been foreclosed on by a mortgage company.
After approval at last month’s meeting, a 7-month CD was opened. The rate on the CD is 4.95% and it will mature in March 2008. $1,000 was left in the bank account for emergency use. The estimated income annually from the CD is $250.
Jim reviewed a bar chart he prepared to show fund distribution through the year. It starts with June since this is the start of the Association’s fiscal year. There is approximately $20,000 that is “a baseline” and never used. Jim recommends putting this money into a 7 month CD as well; it would mature in month 11 (April 2008) with an estimated annual income of $1,000. Then it would then fall automatically into the bank account. The penalty to take this money out early is much less than the interest that would be earned.
From a tax standpoint, nothing would change.
Mary motioned to move the $20,000 to the 7-month CD. Dina seconded; after discussion, it was agreed that it would be broken up into several CD’s (4 $5,000 CD’s) in case a small amount of money was needed, only one CD would need to be broken. Approved 7-0.
Finally Jim answered an outstanding question on disclosure packets: In 2005-6 the Association had 20; so far this year there are 4. It is listed in the financials as an expense, and then it becomes revenue when it is marked off as “paid.” Jim has double checked the accuracy of these numbers and is confident with the system in place to track the packets.
New Assessment Response: As of September 17th, there is approximately $4,835.49 in fees still owed. Three thousand of this is 30 days past due (see quarterly report)
Lien Status: One lien is pending release, since it has been paid through closing; Larry asked if the lien would be released by the closing company or if the Association needed to take action. Since this is the first occurrence of a lien being paid through closing, Larry will monitor.
One lien has been foreclosed. Jim has made phone calls and is waiting to see if the Association gets its money as a creditor in line for money from the foreclosure.
Another lien has been partially paid; a fourth has been completely paid. Larry reviewed his list of outstanding liens with the board to ensure his records were up to date. Total outstanding households with liens number 10; not including the partial and the foreclosure.
Larry and Jim Messinger will go to the Courthouse for the removal of the paid liens.
External Communications: Joe met with the President of the Civic Association and the Eagle Scout candidate who was going to put up the notice board on Tapestry Dr. Together they marked the tentative spot for the board ensuring line of sight, that it’s moved far enough back from the road, etc. The construction has not yet started.
Tapestry resident parking issue: Jeff Root, representing the Tapestry Drive residents, attended the meeting to brief the Board. Parking congestion on Tapestry Drive has increased for several reasons: the Fire Marshal eliminated 33 spaces in the Townhouse area; some trailers and extra cars have been parked on the street and not moved for some time; George Mason University (GMU) students are parking in the area and walking over to GMU.
The main reason for concern and action is safety; due to the increased number of cars, visibility is not good around the bend on Roberts road or at the intersection of Roberts and Tapestry. County Supervisor Sharon Bulova has been contacted about the issue. In addition the Virginia Department of Transportation has been contacted. They will need to look at the back-ups on Roberts, the visibility, and safety issues.
The Tapestry residents are also looking at other options, such as establishing a residential parking district. Currently two spots are assigned to each unit in the Townhomes, and there are some visitor spaces which are consistently full. Although there is recognition that parking has permanently increased, the residents are looking to relieve the congestion caused by commuters and large vehicles. Residential parking district would have to include the Townhome Association, as well as the Tapestry residents.
Jeff also updated the Association on the Tapestry pool status. Things are not yet finalized.
Jeff will keep us updated on their progress, and will let the Association know if a letter of support may be needed.
Communications from Members: Joe received a call from a member about some dead trees. Joe went to the location, it is on common property and the tree is dead. Mary also went to look at the tree. However if the tree is dropped in the woods, it will create a “bridge” over a creek in the back. A likely scenario is to cut the tree into pieces and not put it in the creek. Joe let the member know that the Association would take care of it along with other trees that come to our attention, since it wasn’t an immediate concern. It is less expensive to have several trees done at one time, than piecemeal. Joe will keep us posted.
Larry notes that the oversized truck parked on Collingham is no longer parked there.
Hearing no new business, Dina motioned to adjourn; Mary seconded. Approved 7-0. 8:44 pm.