EPMFHOA Annual & Board Meetings 8/2/14
EPMFHOA Annual Meeting
8/2/14 @ 2:00 p.m.
Hondius Room in Library
Members Present: Charley & Linda Griffin, John & Sally Gaddis, Pete & Linda Hogue, Ray & Joan Novy, Susan Novy, Gary Dougherty, Aaron Voberil, Arleta Bell, Linda Buehring (pending new owner), Javier & Maria Gomez, Colleen & Ronnie LaRue, the Prestons, Arkie & Jan Vaughn, Pamm Haglund. Present by proxy were: Rick Jordan Arthur Koenig, Joan Baker, Don Miller and diane Yoblin.
Call to Order: 2:00 p.m.
Introduction of Danielle Arnold from American Family Insurance: 970-586-8420. Danielle gave a presentation as follows:
Our insurance is meant for major catastrophes.
How to determine what you’re responsible for: Primarily your HOA’s Declaration under the Insurance Section (on pg 10-12 of our Declaration) is the final word on who is responsible. The word “entirety” is binding in the insurance business. Ours is all inclusive (basically, anything you can’t take with you when you move) with the exception of carpeting, stove, oven, refrigerator, disposal, wallpaper, furnishings (things that wear out/decorative or can be taken with you). When presented with a claim, an insurance company will ONLY look at the Declaration Insurance Section, not the By-Laws. Most people’s personal property policies coverage is around 50K.
Claims frequency will increase the policy price and may lose your insurance altogether. This is what happened to the units on Wapiti who now MUST buy their homeowners insurance individually. Once an HOA has been denied by an insurance company due to too many claims, it’s very difficult for the HOA to ever get insured as an HOA again. However, legally, an HOA cannot deny a homeowner the right to make a claim. This, too, is what happened on Wapiti with disgruntled homeowners who didn’t realize the consequences of too many claims.
A Policy from dues through an HOA is MUCH (by 75%!) less expensive than privately purchased, but can’t be abused. Must stay diligent with maintenance (which is why the by-laws puts extra responsibility on the homeowners, such as windows, window coverings,doors,hot water heater, plumbing, electrical and furnace maintenance/repair and or replacement, in order to alleviate higher maintenance and/or insurance dues).
Most claims are due to freezing pipes in this area. Turn water off to washing machines when vacationing. Keep thermostat no lower than 60 degrees (wind chill in freezing temperatures can still freeze pipes if house is less than that) and whatever else you can do to make sure you don’t have water claims.
Our insurance is basically $152.00/square foot. We also have an add-on called a “condominium enhancement endorsement” policy. 300K for code upgrade increases and home fire sprinkler systems, green issues, sump pump failure and raw sewage problems.
Danielle was thanked for her presentation.
Charley mentioned that we don’t have the Declaration on the website yet (since there are signatures on it and it’s legal size; we need to get it scanned to a pdf- if anyone has that capability), but you can get a copy from him if you don’t have one.
Introduction of Judi Smith from the League of Women’s Voters & Community Recycling Committee to tell us about recycling. Recycle and repurpose to keep less in the landfill. Her presentation was as follows:
Two major avenues to recycle in town:
Individually taking your recyclables to the Transfer Station (Landfill)- separated into 5 areas: shredded paper, cardboard, phonebooks, co-mingles (plastics/glass) and newspapers/magazines. This can be done for free by environmentally concerned individuals who enjoy sorting.
Second avenue is paid curbside recycling. You don’t need to separate, but recyclables must be in each company’s bag or dumpster.
She had a list for those present of where to take items in town for repurposing and recycling. Look at: recycleestes.org. Judi was thanked for her presentation.
President’s Report: Financial Review Team met after the flood and made some recommendations. The Board decided to have our finances reviewed by a CPA to address some of the concerns to make sure we’re documenting the finances correctly.
We’ve been working on the beautification of the area with painting. We’ve had siding expenses associated with this, which we hopefully won’t have again for awhile. Next year is our 5th year in the 5 year paint cycle when no painting is done, just reserving funds for the next round of 5 years.
So next we would like to work on curb appeal. A new committee will be formed to look into that.
We mow as needed, and save $425.00 each time we let the grass grow under our feet.
Secretary’s Report: website is up and running: epmfhoa.com
Treasurer’s Report: Linda went over the Profit & Loss Budget Performance and Balance Sheet which were both provided to everyone previously at the Owner’s seminar.
Finance Committee Report: Pete went over the board adopted 2015 budget for the memberships review. There will be no assessment changes in 2015 primarily because we don’t have enough information from our suppliers now to know if we’re having lots of increases. We will know this by the end of the year, which can effect next year, but not until the next annual meeting. Motion was made to accept the 2015 budget. Approved.
John Gaddis mentioned that one of the reasons we don’t have any increases is due to the amount of volunteer work done by our members, such as Charley Griffin, Linda Hogue, Aaron Voberil, Pete Hogue and others. A round of thanks was given.
Slate of New Board Members:
John Gaddis
Charley Griffin
Linda Hogue
Arleta Bell
Susan Novy
Gary Dougherty
Pamm Haglund
Javier Gomez
Ronnie LaRue
Motion was made to accept the slate of board members. Approved.
New Social Committee: Gary & Dee Dougherty are co-chairs of this committee. The goal is to have better social interaction amongst the membership. Volunteers for the party animal committee are: Arleta Bell, Maria Gomez, Joan Novy and Colleen LaRue.
Meeting Adjourned 3:17
Respectfully submitted,
Susan Novy- HOA secretary
Meeting of the EPMFHOA Board
8/2/14Â Â 3:30p.m.
Hondius Room at the Library
Members Present: Arleta Bell, John Gaddis, Gary Dougherty, Linda & Pete Hogue, Ronnie LaRue, Javier Gomez, Susan Novy, Pamm Haglund, Charley Griffin
Call to Order: 3:30
Motion to accept 6/13/14 board meeting minutes. Approved.
President’s Report: Welcome new board members
Secretary’s Report: nothing new
Treasurer’s Report: Linda resigned as treasurer.
Finance Committee Report & Business Practices Committee Report:
Pete handed out a packet for us to review by next meeting. We have a couple new documents to approve. One of the “Issues to be raised” is the need for more committee members.
Operations Committee: We do have another potential drainage problem. SW corner of Jordan’s on Brodie. Before we spend any more money on it (we graded and shut down the sprinkler), we need to determine if it’s drainage or a spring coming up. Perhaps we’ll make a berm and see what happens. Gary suggested calling up Briggs Carpet Cleaning, as they have an instrument that can tell what’s happening under a carpet.
We have 2 new dumpsters. We might put a bungie across them to deter our visiting bear.
We will be looking at gutters.
Last year Charley proposed some compensation for a mega volunteer and would like to propose it again. Pete suggested a line item called “volunteer recognition”. John Gaddis recommended we talk to the CPA to find the best way to do this. Charley removed his motion until talking to the CPA. He did make a new motion to talk to a CPA about how to handle volunteer recognition. seconded. passed.
New Business:
nominations of officers. Approved.
New Officers:
President: Charley Griffen
Vice President: Gary Dougherty
Secretary: Susan Novy
Treasurer: Javier Gomez
Nomination of Operations Director. Approved.
Operations Director: Ronnie LaRue
Nomination of Committee Chairs. Approved.
Buildings & Grounds: Pamm Haglund
Property Manager: Aaron Voberil
Community Activities: Gary Dougherty
Finance Committee & Business Practice Committee: Pete Hogue
Check signers: Charley Griffin, Javier Gomez, Pamm Haglund, Ronnie LaRue
Other Business:
Next Meeting: Friday Aug. 15th @7:00 @ Hogues, & Sept 12th @ 7:00 @ Charley’s
President’s Report:
Charley met with a CPA- Stein & Assoc.- to address the finance review team’s concerns. Also, Charley wants to determine the cost of involving a CPA in the process. He determined that CPA’s will not do audits anymore. A full financial review would run between 2K-$2500.00. The CPA indicated that Pete & Linda are correct in the ways they’re utilizing Quickbooks. Charley investigated having a Financial Compilation done which would cost approximately $700.00-$1200.00. This would include a reconciliation of the checkbook. Charley indicated that we may want to add this to our budget as an every 2 year expense.
The Board approved having a compilation done by the CPA.
Adjourned: 4:30p.m.
Respectfully submitted,
Susan Novy- HOA secretary
Posted in Minutes 2014 by Susan with comments disabled.