PROMONTORY HOME OWNER’S ASSOCIATION
BOARD MEETING MINUTES
February 19. 2013
HOA Treasurer, Chan Pollock called the meeting to order at 7:12 p.m. in the meeting room at the Tuscany Tavern, Evergreen, Colorado at the request of Board President, Jan Barkman who arrived at 8:02 p.m.
- Board members present: Jan Barkman, Chan Pollock, Leanne Fesenmeyer, Roxanne Smith
- Board members absent: Christin Helander, Brian Reece
- Other attendees: Anita Barkman, Robin Black, Larry Black.
The agenda was approved with the addition of a request to discuss a rebid on the neighborhood trash and recycling contract, a discussion regarding snow removal procedures, discussion of the swale behind the mailboxes on El Diente. A reading of the minutes from the December 17, 2012 meeting was waived and subsequently approved as previously distributed to all owners.
Chan Pollock presented the Promontory at Soda Creek HOA Calendar YTD 2012 Financials as provided by Evergreen Bookkeepers.
Full year revenues were slightly above budget at $41,688 due to additional transfer fees and late payment fees. Total operating expenses were slightly under budget at $31,166 vs. $31,907 as budgeted with overages in Grounds & Maintenance, Accounting Services, Auditing Services and under spending in Snow Removal.
As such, Net Income was $10,522 for the fiscal year, which is $989 over budget. With the transfer of $10,600 to the road maintenance escrow fund, it was not necessary to transfer $2,000 from the landscape fund as expected when the budget was developed.
Acceptance and approval of the 2012 report was requested and approved.
Chan Pollock shared a proposed 2013 budget for review and approval. Operating dues are projected to be $44,722, which is $3,034 higher vs. 2012 as a result of the higher dues ($210 per lot per quarter) being applied for the full calendar year.
In terms of expenses, Chan recommended specific levels for Accounting Services, Auditing Services, and Electricity that reflect 2012 trends and projected fees for 2013. Specifically, Accounting Services run $200/month and as such the annual budget for 2013 was increased $400 to $2400. Accounting Services and Electricity were kept constant at $190 and $300 respectively.
Repairs & Maintenance due to the Christmas lighting expenses for 2012-2013 approved at a prior meeting. Chan also proposed that we explore an additional expense to cover shoulder repairs and as such, it was proposed that we increase the Road Maintenance budget to $2,000 and procure bids for potential shoulder repairs.
Technology – $750 was budgeted to build the site with a monthly maintenance fee of $20-30/month.
Waste Removal is projected at $14,000 ($19.88 x 12 months x 52 homes) with an additional allocation for spring and/or fall cleanup. Larry Black mentioned that we might see an increase of 5% by EDS’ new owner, Waste Management this year based on his knowledge of the company and their pricing strategy. He also shared that Mountain View Waste provides 95 gallon bins for both waste and recycling at no cost to customers, unlike Waste Mgmt who provides large bins at an incremental cost to customers. While we might consider bidding out our contract to other providers, including Mountain View, which charges $23/month, the expectation is that we can continue the ongoing fee ($19.88 per month) for the foreseeable future.
Water is budgeted at $1,000, which is roughly flat vs. 2012.
Additional changes included an increase to the Social budget of $150 (from $600 to $750) and an increase of $1,300 over the 2012 budget for Grounds and Property Maintenance.
Projected Net Income is approximately $8,400, which is insufficient to cover the recommended reserve requirement for an allocation to long term Road Maintenance of $10,600. As such, a transfer of $2,200 from the landscape escrow might be required at year-end to cover the difference. The actual amount will depend on actual net income for calendar year 2013.
A motion was made and approved that Chan have a discussion with Noble Plowing to have them plow on a more regular basis even if we receive less than 4 inches of snow. Concurrently, a motion was made to increase the snow removal budget to $2,300.
Spring Cleanup: It was recommended that we choose May 18/19th for the spring cleanup.
Emails: When Jan arrived, one important item he spoke about was that a new law went into effect at the beginning of the year which makes E-mail correspondence between HOA board members open to review by an owner, if so requested. Thus, if personal E-mail addresses are used, even private messages could be open to scrutiny. He mentioned that the property manager for the Lodges HOA has created separate E-mail addresses for this purpose in order to protect private accounts. This is something we need to consider, and the solution could possibly be realized in connection with the new web site.
Hydrants: It was suggested that the fire hydrants be checked annually, and Jan offered to call Evergreen Fire Department to find out when they were last tested.
Website – We have secured www.promontoryevergreen.com and have been working with Tom Hushen to create a prototype site and Chan reviewed the core elements. A question was asked related to what can/cannot be shared (e.g. resident names and addresses). The HOA secretary (Leanne) will register the site with Google Maps/Businesses. The need to register with the fire chief for emergency management purposes and cleaning the homeowner list to make it clear who lives in each home was discussed. It was also suggested that we consider a barter with Tom Hushen for website management services in exchange for an ad for his website management services but it was agreed that we do not pursue that strategy given potential conflicts of interest. Instead, Chan proposed that we budget $750 for website fees and utilize a small committee (Robin Black, Leanne Fesenmeyer, Chan Pollock, Mike Paules) to oversee the management of the site.
Date for Next Meeting
It was proposed that we meet again for the annual meeting on April 8th, at 7 pm at Tuscany Tavern.
With nothing further to discuss the meeting was adjourned at 8:52 pm.
Respectfully submitted by
Leanne Fesenmeyer, Secretary