EPMFHOA Board Meeting 2/7/21 via zoom.us 1:30pm
approval pending
Attendees: Rick & Claudia Jordan, Anne Poznic, Susan Novy, Pete & Linda Hogue, Carol Prince, Nan Belkamp, Ronnie LaRue, Pamm Haglund, Kathy Beatty, Arleta Bell, Elen Crone
Call to Order: 1.30
Secretary Report:
Minutes for approval
August: Arleta moved to approve, Nan 2nd. Passed.
October: Linda moved to approve, Arleta 2nd. Passed.
November: Pamm moved to approve, Nan 2nd. Passed.
Buildings & Grounds Report:
This time of year, we are doing the research and planning work to ensure our two most important projects are contracted for during our warmer months. Additionally, we are ensuring our budget is finalized. Below, is a quick summary of our areas of responsibility:
Driveways:
We are contacting John’s Sealcoating to ensure the patch work he did last year on the Brodie Frontage area is fixed.
Painting:
Randy McNeil, Village Maintenance: We have a bid by Randy for the Off Golf Course units this upcoming summer.
Snow Plowing :.
Snow plowing includes shoveling along our garages the sidewalks leading to front decks. Saul Erives has indicated that he would shovel additional times if requested by any owners at the owners expense. Two owners have contacted him so far.
Our Lawns / landscape:
Solid Grounds has decided not to service Estes Park. A few years ago they relocated to SE Longmont and have this year reconfigured their business model. We will miss their expertise.
Nan has headed up a hunt for our new Landscaping contractor. We are in the process of interviewing possible replacements who come with good recommendations.
A fence rail needs to be replaced on the Brodie side. The post has twisted and needs to be replaced so that it can accept the upper rail. This will be done in the spring at the same time as we do our annual “fence survey and repair” project.
Planning: B&G is planning the 2021 projects.
Budget: Special thanks to Nan, Ronnie and Anne for their attention to our 2021 Budget.
Storm doors and our windy environment: A home owner lost all the glass in a screen door which blew open in one of our famous winds. Be sure yours is latched or the winds could make a mess out of your door.
As we make our way through a “Covid” winter, we are reminded how much community means to us. We have a strong one!!! If anyone needs assistance and any of our B&G members can help you or recommend assistance, please call us.
“It takes a village”. We are planning another successful summer season.
Linda moved to accept, Pamm 2nd. Passed.
Finance Team Reports:
Treasurer’s Report:
FINANCIALS AND FINANCIAL SITUATION
January 2021 financials will soon be available on the website.
The December 2020 financials are available on the website. Operating Expenses were $3,400 below budget with $3,550 coming from Building and Grounds related expenses. Revenues were also under budget due to owners in arrears so there was an addition of $2,666 to the Operations Restricted Reserve bringing it up to $12,353.77. This is still shy of the $15,000 we have set for an emergency fund but we are slowly building this back up.
As of December 31, 2020, there is $49,852.30 in the Restricted Reserves for Exterior, Project and Roof expenses. This amount is at Fidelity in the Reserve Savings account. The 2020 budget had $51,900 in B & G Reserve expenses but B & G actually spent $46,844 or $5,056 under budget. Add this to the budgeted $7,140 to go straight to reserves and $12,022 was added to the Exterior, Project and Roof reserves in 2020.
MONTHLY ASSESSMENTS
18 owners paid their 2021 assessment in full in January. 11 owners pay on a monthly basis and one owner pays quarterly. In effect, we have received 228 of the 360 monthly payments expected for 2021 in January which is 63% of the total for the year. 2 owners are in arrears. Besides the monthly invoice and monthly statements we send out, I talked with one owner and emailed one owner in mid-January. Both are promising to catch up, however at this time, no payments have been received. The HOA continues to assess a one-time $25 late fee each time a payment is late.
ROOF LOAN PAYMENTS
All three owners have now paid the second $2,000 roof loan payment that was due October 31, 2020. In addition, one owner has paid the $400 Roof Loan Fee that is due October 31,2021.
SHOW US THE MONEY!
| As of December 31,2020 | As of January 31, 2021 | |
| BOC Checking | $ 8,026.55 | $20,356.17 |
| BOC Operations Savings | 3,755.57 | 3,755.57 |
| Fidelity Operations Savings | 1,116.65 | 76,117.09 |
| Fidelity Reserves Savings | 49,852.30 | 49,852.47 |
| TOTAL | $ 62,751.07 | $150,081.30 |
Respectfully submitted,
Anne Poznic
Treasurer
Linda moved to accept the report, Carol 2nd. Passed.
There was discussion about the amounts that people send in for their assessments. The volunteer financial team has a good system for the exact amount that’s expected each month, so sending arbitrary amounts makes the books more difficult. We recognize that COVID has made things difficult, but we need to try to pay the correct amounts and make arrangements if that’s not currently possible. We do not take cash. Please be courteous of our volunteers so we don’t need paid bookkeeping or lose great volunteers.
2020 Profit & Loss
Revised 2021 Budget:
Arleta moved to accept Revised Budget, Nan 2nd. Passed.
Revised 2021 Assessment document: the change is “matching” Insurance assessment to Insurance expense. There is no change in assessments in total.
Carol moved to accept the Assessment document, Pamm 2nd. Passed.
Lease Application Form: the draft form looks good.
Carol moved to accept the lease application form, Ronnie 2nd. Passed.
Financial Policies & Guidelines Update:
Pamm moved to accept the Policies and Guidelines, Linda 2nd. Passed.
Policy and Planning
Association Insurance Information document – Claudia
Carol moved to approve the Insurance document, Nan 2nd. Passed.
Community Activities
Welcome Guide status – Pamm will send electronic copy to Rick.
Insurance
No changes planned to method of Assessments at this time.
President‘s Report
Trailblazer Broadband update: They will start installing for those who wish to have it installed. You must be on their email list to get the information.
Next Meeting: April 11,2021 4:00 pm
Adjournment: 3:05
Posted in Minutes 2021 by Susan with no comments yet.
Leave a Reply