PROMONTORY HOME OWNER’S ASSOCIATION
ANNUAL BOARD MEETING MINUTES
November 20, 2013
HOA President, Jan Barkman asked Dave Evans to call the meeting to order at 7:02 p.m. at Tuscany Tavern.
- Board members present: Jan Barkman, Chan Pollock, Leanne Fesenmeyer, Roxanne Smith, Holly Richardson and Fabrice Fonck.
- Board members absent: Christin Helander
- Other attendees: Dave Evans, Rita Pollock, Anne and Leo Roux
The proposed agenda was presented and approved. The minutes from the previous meeting held September 20th, 2013 were distributed and approved.
Financial Report
Chan Pollock presented the 2013 year-to-date revenue and expenses (see attachment). He noted that only one household is overdue and at present and that we are $2,700 under budget due to variations in Road Maintenance.
Chan noted that he has solicited bids for the repair of our street shoulders from two providers, Noble and Pine Grove but to date has only received one from Noble and it was significantly over budget. Roxanne provided a third potential bidder, Evergreen Sand and Gravel, and Chan was going to call them all again to see if this is something they can do during the winter or should wait until spring. As such we are unlikely to incur additional Road Maintenance expenses in 2013.
Chan went on to explain other variations including the fact that while we budgeted $750 for technology we do not plan to incur that expense thanks to Fabrice Fonck offering to donate his time spent on the project. Waste remains the same at $1,050 per month and we will not pursue a new provider at this point given the affordability. We have budgeted for two additional snow plowings this year and Grounds Maintenance is at/near budget with few additional expenses projected.
The comments note that we will meet our Road Maintenance reserve target for the year which is due to the fact that between now and year end we should have a net gain in the $11-12,000 range.
In the coming months, Chan will work to secure a 1, 2 and 3 year CD of $15,000 each to optimize the returns on our $57,000 of outstanding cash funds. As a result, we will then have approximately $10,000 in the checking account.
A motion to approve the Treasurer’s report was made, seconded and subsequently approved.
Other
Website Review – Fabrice presented an updated on the HOA website including a review of the history of the development of the original site. The site is fully functional and accessible but is missing specific elements. The group discussed what level of information to include on the website as it pertains to specific areas (e.g. – Architectural Review) and it was agreed that the phone numbers for key contacts be included. Fabrice noted that we are missing non-PDF versions of past meeting minutes and Leanne agreed to forward those. It was agreed that Meeting Minutes and Financials would be included in the Members Only section.
Fabrice invited neighbors to send pictures for the website so that we can showcase the beauty and uniqueness of our neighborhood. Fabrice discussed the Members Only section and the challenges of implementing authentication using Word Press. He also reviewed the technical challenges of using Word Press and suggested that in the future that we use a tool that is specifically designed to create a website and it was agreed that we should pursue alternative options.
Repairs of Street Shoulders – It was suggested that we secure bids in Q1 2014 with the possibility of securing an affordable bid during an “off time”.
Repair of Street Signs – It was discussed that the stop sign at Windom and El Diente was run over along with some other minor neighborhood vandalism during the past weekend (11/16-17). The sign has been replaced and cemented in to improve its stability but concerns have been expressed about the stability of other posts around the neighborhood. The group decided to add an agenda item to the spring meeting to explore the possible repair/replacement of other signage.
Social Calendar – It was suggested that we distribute a note inviting a resident to host the annual ornament exchange for women and beer exchange for men.
Holiday Lighting – Chan suggested that we consider replacing the current lights with LED lights at some time, given the large expense each year to replace most strands, and that we explore an alternative provider to hang the lights. It was agreed that we explore alternatives given our $850 budget, which might also need to cover the purchase of lights. As such, it was suggested that we consider purchasing new lights in early/mid 2014 when the prices are lower.
2014 Proposed Budget
Chan reviewed preliminary assumptions for the 2014 budget including no change in dues, relatively flat operating expenses (e.g. – accounting, electricity, etc.) and potential variation in auditing (with a question regarding how often we incur this expense), landscaping, etc.
Chan noted that individual line items warrant a slight increase (e.g. – accounting, auditing, grounds, license & fees, etc.) or will remain flat (e.g. – waste removal) with few risks. The exception is Road Maintenance, which might require an expenditure for shoulder repairs in 2014.
It was noted that the shoulders have not been maintained since 2009 and it was poorly done at that time.
After some discussion, a motion was made to fund the 2014 shoulder repairs from the Road Maintenance Reserves and it was approved.
It was suggested that we reduce the Technology budget to $300 and remove the audit expenditure of $190 after discussion regarding flexibility around other expenditures (e.g. – tree spraying, accounting, etc.) it was agreed that we have limited flexibility in the overall budget at this point. Dave Evans thought the auditing amount was really our tax return expenditure and was going to look in to this. (He has subsequently confirmed this to be the case).
A motion was made to approve for the preliminary 2014 budget as (e.g. – Road Maintenance, Technology, Audit) so that Q1 expenditures can proceed as needed. The motion was passed.
Nominating Committee
At the 2014 Annual Meeting, the current three-year terms for three HOA board members including Jan Barkman, Roxanne Smith and Christin Helander will be completed. As such, the board must explore alternatives for a replacement for Jan’s role as President.
Adjournment
It was suggested that the next meeting be held on Wednesday, February 12th at 7 pm. With nothing further to discuss the meeting was adjourned at 8:45 pm.
Respectfully submitted by
Leanne Fesenmeyer, Secretary