EPMFHOA Minutes 9-12-2010 | Estes Park Mountain Fairways HOA

Mountain Fairways HOA Meeting 9/12/10

Members Present: Joe Evans, John Gaddis, Pete & Linda Hogue, Steve Lang, Susan Novy, Ron Meskiman, Aaron Voken

Financial Committee Report: Many documents were emailed prior to the meeting for review and a packet of new information.

The committee recommended that we adopt that monthly assessments stay the same as 2010 for 2011 due to cost savings measures implemented by the Board. The Board had a discussion about the various needs of the HOA and the sentiment from the owners that they would like to avoid an increase this year. Motion was made by Ron and seconded by Linda to leave assessments the same for 2011 as 2010. Passed. The assessments for each homeowner, based upon the 2010 assessments are attached to these minutes.

Recommend leaving the 2% discount for paying the 2011 year in advance by Dec. 31, 2010. There was discussion about the amount of the monthly assessment income. Motion was made by Linda and seconded by Steve. Passed.

Review work-in-progress reports including:

Financial Planning Documents which are two documents that include a Budget worksheet and Revised Monthly Financial Statement. Discussion included questions about who will receive which documents and the meaning/definitions of the categories on the two documents. . Since these are works in progress, the committee is just looking for format approval as opposed to the exact categories and content. These are new tools. Motion was made to approve the format of the Financial Planning Document by Susan, seconded by Linda. Passed. Copies of the approved formats are attached to these minutes.

Job Descriptions: Each committee will make their own descriptions; basically assisting the exectutive board member that the committee is based around. Motion was made to accept proposed job description format by Ron, seconded by Steve. Passed. A copy of the approved job description is attached to these minutes.

Separation of Budget to include Operating Funds and Reserve Funds. For accounting purposes, the committee recommends starting Jan. 1, 2011 that the HOA start with an operating reserve of ______ and a zero balance in the reserve funds. The Committee recommends this approach due to the need for a minimum operating fund of $5000 as well as the difficulty in allocating the funds to a specific reserve account. . The Board had a discussion about the need to understand the financial status of the HOA based upon the recent borrowing of funds from six homeonwers to finish the roofing project. Discussion was made with a suggestion of a one paragraph explanation of the state of the reserves. The Vice President appointed a committee to prepare a reserve study be done by the operations management committee with the financial committee to be completed by the Jan 2011 board meeting. Motion was made and passed by consensus to allocate all HOA funds at the beginning of 2011 to the operating fund.

Operations Oversight Committee Report:

After a walk-through the committee believes that money can be saved. The sprinkler system is in good shape. Rain sensors had been installed but are not functional. There are 3 sprinkler timing clocks that need to be locked. Some of the heads need to move and some need capping. The operations committee agreed to prepare a a plan by the January 2011 meeting in order to be more proactive. The committee’s finding from its walk-through are attached to these minutes.

Concerning snow removal, due to the issues related to timing and the fact that it is not feasible to take new bids for the work, the committee recommends keeping the same snow removal contractor. The Committee indicated that it would work on getting bids for the work for the 2011-2012 season. Motion was made by Joe and seconded by Steve to have Millie move ahead with the contract. Passed.

Concerning the pending painting project; we went ahead with 2 out of the 5 remaining units. Since we’re behind on the painting, recommendation was made to move ahead with the other 3 by winter. The funds are currently available in the painting reserve account to do this work. Passed by consensus.

The board asked the committee to have an annual bid schedule recommendations by next board meeting. The committee noted that it would have to prepare a description of the work to be bid as well.

Concerning the property management; recommendation was to keep Millie as the property manager through the end of the year as previously voted on last meeting and start anew 2011 with a volunteer.

Concerning moving the dumpster for the town easement to the sewer in Elk Ridge; let Elk Ridge make a proposal but the consensus was that the HOA was not in favor of the concept at this time.

Business Practices Committee Report:

Job description approval moved and passed. A copy of the approved job description is attached to these minutes.

Forms: Survey- How members interact with the board through a Business Practice Form. A copy of the approved survey and information request is attached to these minutes.

Motion was made by John and seconded by Linda that the Business Practices Committee sends out the initial mailed packet of information as deemed appropriate by the business practices committee by Oct. 15,2010. Passed.

Discussion about needing proxies for regular board meetings. It was determined that the President would take under consideration whether he would allow Board Members to issue proxies for any period of time they would be unable to attend the HOA Board meetings. There was also a discussion that another general meeting of the HOA members would most likely not be required since the budget was not being increased. This will be communicated to the HOA members in a special mailing.

Melissa has offered to put together the website. The Board thanked Steve and asked him to relay the appreciation of the Board to Melissa.

Old Business: None other than as stated above.

New Business: Next meeting Sat. Oct. 16,2010 at 4:00 at Ron’s 1433 Matthew Circle

Respectfully submitted,

Susan Novy- secretary

Estes Park Mountain Fairways HOA