THE PROMONTORY AT SODA CREEK
ANNUAL MEETING MINUTES
February 8th, 2021
BOARD MEMBERS PRESENT: Dave Young, Gretchen Stubenvoll, Chan Pollock, Angie Fox, Cindy Middleton
Others Present: Rita Pollock
A quorum constituting the required Board members were present in person as all members were present. The meeting was called to order at 6:50 pm at the Tuscany Tavern in Evergreen, CO. The Agenda for this meeting was approved by voice acknowledgement without discussion or objection.
- Minutes from Prior Meeting: The minutes for the prior meeting were reviewed and approved without objection, a copy of which is available at the website.
- Treasury Report: Gretchen delivered the treasurer’s report regarding financials through December 31, 2020 and a first draft budget for 2021. Several line items were discussed, most notably: a.) we should be able to combine the app to purchase and transfer fee income line items, b.) add an allowance for doubtful accounts to expense section, c.) use 2018/2019/2020 3 year averages for several line items like snow removal and water. Gretchen made several adjustments and would recirculate the draft budget for board review over next few weeks. Additionally, Chan to assist with a reserve analysis schedule for presentation at Annual meeting. Dan to solicit an expert opinion regarding remaining useful road life and estimated replacement cost so we can provide guidance regarding adequacy of reserves. The landscape budget received considerable discussion, most notably that the needs of a 20-25 year neighborhood vs a new planting neighborhood are probably different and some replacements might be warranted. Angie has volunteered to get more involved and work directly with HOA member Roxanne Smith, our long time landscape manager and provide recommendations to Board. Angie to solicit bids to clean up front entrance. Finally, Gretchen was able to obtain electronic access to the banking records so that our accounting office might receive statements in a more timely fashion. The Board asked that the access credentials be provided to the President and Secretary for safeguard and controls. The financial report was approved without objection.
- ARC Activity: No report this quarter.
- Homeowner complaint: A short discussion regarding the Homeowner complaint and subsequent actions regarding the out of place landscaping resulted in the Board approving the letter to be sent to the Homeowner by end February outlining the problem and the action the Board took. Gretchen to send letter.
- Issues put before Board for discussion: Additional items discussed by the Board:
- Cindy Middleton to organize the annual Garage Sale and Dumpster weekend, scheduled for June 10-14, garage sale on June 12.
- Next Meeting: The Board set the date for the Annual meeting – May 18th, 2021, 6:30pm at the Tuscany Tavern. There will two Board vacancies (Young, Pollock) and a presentation on the budget, reserves and whether or not the quarterly dues are adequate to meet our long term reserve requirements.
The meeting was adjourned at 8:00 pm.
Submitted By: Chan Pollock, Board Secretary