Kings Park West Community Association
Board of Directors Meeting Minutes
March 9, 2011
In attendance: Joe Meyer, Armand Fournier, Linda Bufano, Jim Messinger, Virginia Scattergood, Mark Heppner.
Meeting called to order at 7:32pm.†
Approval of February Meeting Minutes: The February minutes were reviewed; Armand motioned to approve, Joe seconded; approved 5-0.
Treasurerís Report: The board was informed that the current checking account balance as of February 28, 2011 is $4,418.22; there are 2 general fund CDís in the amount of $5,233.18 each; 2 general fund CDís in the amount of $5,380.87 each; and the Reserve Study CD at $12,406.80 bringing the grand total to: $38,053.12.
also reviewed the proposed budget for 2010-2011, which will be discussed and
voted on by the Board at the June meeting.
Assessment Response:† As of February 28, all households had paid their 2010-2011 assessments, and no liens need to be issued.† 4 others are currently participating in the payment plan- 2 are ahead of schedule, 2 are on schedule.†††††
Goldklang Audit: Jim reviewed the results of the Goldklang audit. Goldklang reviews RCS and KPWHOA records.† Recommendations are then made, which Jim addressed in turn.† Most had been reviewed and completed. Outstanding was the recommendation that no more than 3% of annual assessment be outstanding.† In years prior our percentage was higher, but this year we hit the 3% mark due in part to payment plans and continued outreach.
Another recommendation was that accounting records should be on an accrual basis, not a cash basis. Jim reviewed the KPWHOA history of accounting, and explained that since we donít have one large expense in a month, thereís no benefit to moving to an accrual basis.
The last outstanding recommendation dealt with excess operating funds. Goldklang recommended that the excess be 10%-20% of the annual assessment. While this year we are over budget due to tree removal, we are within the recommended reserve range.
Old Business: Reserve study:† The Board discussed options listed in the reserve study and financial obligations.† The reserve study recommendation was to abandon some stairways and walkways, thus reducing our financial obligation. Mark motioned to accept this recommendation; Jim seconded; Approved 6-0.
Collingham and Roberts Crosswalk: No updates
New Business:† The Architectural Review Committee reviewed the requirements for submitting requests, which include showing on the property plat where a deck, or shed, is to be built.
Communications from Members: Thereís a reported issue with a garbage can on Pumphrey. Leaving garbage out for a long period of time is against County regulations, and will be reported to Supervisor Cookís office.
Fence on Gainsborough- too high for county regulations- it is 12 feet. The county ruled that it needs to be taken down.
Annual Meeting: Will be held on May 18th. Linda and Virginia are up for re-election; Mark will serve as the Nominating Committee point of contact. Jim will handle proxies.
Hearing no new business, Linda motioned to adjourn; Joe seconded. Concluded at 8:57 pm.