Kings Park West Community Association

Board of Directors Meeting Minutes

January 12, 2011

 

In attendance: Joe Meyer, Armand Fournier, Linda Bufano, Jim Messinger, Virginia Scattergood

        

Meeting called to order at 7:30pm. 

 

Approval of December Meeting Minutes: The December minutes were reviewed; Linda motioned to approve, Joe seconded; approved 5-0.

 

Treasurer’s Report: The board was informed that the current checking account balance is $4,366.24; there are 2 general fund CD’s in the amount of $5,233.18 each; 3 general fund CD’s in the amount of $5,380.87 each; and the Reserve Study CD at $12,406.80 bringing the grand total to: $43,382.01. The interest from the matured CD’s has not been posted by RCS.

 

$2,300 for the annual audit and taxes have been paid for; taxes were sent in, and we do not owe any taxes due to the small amount of interest generated by the CD’s. Audit results were pending as of the meeting. 

 

Overall, the budget is slightly over for trees and under budget for “legal” costs thanks to the success of the payment plan. On Insurance, a credit is owed to the KPWCA which Jim is investigating.

Assessment Response:  As of December 30, 19 homeowners were in arrears for the 2010 assessment.  4 others are currently participating in the payment plan and these 4 are up to date.    

 

Old Business: Entrance walls: Repair is pending better weather.

 

Boat:  It has been moved but there is no report as to what happened.

 

Crosswalk:  Lighting study is complete. The report supports adding lights to the area of Roberts between Zion and Commonwealth. It will cost approximately $6,000 to get the 2 lights installed.

 

New Business:  Armand continues to work on the reserve study and will present to the Board.

 

Trees: The one on Bessmer is a KPWCA tree which damaged a homeowner’s fence.  The estimate for removal has been received.  Another tree is down (resting on other trees) on Roberts. Armand will take a look because it may overhang the public walkway. 

 

Collection policy with RCS: After review and discussion of the collection policy, the Board discussed whether the time frame was appropriate.  Armand motioned to change the wording in the policy to send the final past due notice “on or about 180 days” rather than 90 days after the due date.  Joe Seconded.  Approved 5-0. Armand will revise and it will be posted on the website, www.kpwhoa.org   

 

Hearing no new business, Linda motioned to adjourn; Virginia seconded. Concluded at 8:17 pm.