Owners Chart
feel free to copy this chart and add the names of the owners for handy reference
Posted in Owners Chart by Susan with no comments yet.
Treasurer’s Reports starting 2024
2024
Posted in Home, Treasurer's Report by Susan with no comments yet.
Board Meeting 3/16/24
Approval Pending
Estes Park Mountain Fairways
Board Meeting
March 16, 2024
10:00 MT
Zoom Only
Zoom Attendees: Yvonne Hale, Kevin Preston, Susan Novy, Pete & Linda Hogue, Ronny LaRue, Abby Pontius, LeAnn Briggle-Daugherty
Call to order: 10:07
Some friendly discussion about our 39” of snow last Thursday. Springtime in the Rockies!
Approval of minutes from meeting held March 16, 2024:
Pete moved to accept minutes, Yvonne 2nd. Passed.
Treasurers Report (full report in Financials/Treasurer’s Report)
FINANCIALS AND FINANCIAL SITUATION
1) The 2/29/24 financials have been completed and distributed.
2) After two months of 2024 we have operating revenue of $91,412.11 and operating expense of $15,266.34 for a net income of $76,145.77.
MONTHLY ASSESSMENTS
We have several owners that are significantly in arrears for their assessments as of month end February. Since the finance team has previously done all it can to get this situation resolved (including imposition of late fees), the situation has already been escalated to the board for their decision on planned actions (invoking use of the Violation protocol). There was minimal progress made as the board worked with PMI in this arena in 2023 – the expectation is that as the board works with EP Rentals (who have invested significant time in trying to do “friendly” collection) in this arena the situation will be resolved.
SHOW US THE MONEY! As of February 29, 2024 – $206,483.16
BOC Checking $76,892.97
Fidelity Operations Savings $6,930.59
Fidelity Reserve Savings $122,659.60
—
FINANCE TEAM STATUS INFORMATION
1) Outsourcing Implementation Team Status:
The appropriate EP Rentals personnel have been set up with the needed authority and tools for managing our operational financial activities. The normal start of year activities and January and February financial activities have progressed as expected (a pleasant change from our experience in 2023).
2) Investment Management Status: The finance team previously produced and distributed information on our MF Investment Management portfolio. The “book” value, as opposed to “market value”, for each month was used for our financials in 2023. For 2024 we are using the “market value” for our financials. For full transparency both values are reported in the Financial Statement Notes each month. The table that follows provides a view of our increasing monthly values – using just the “book” value.
(see chart in financials/Treasurer’s Report)
Note1: We moved monies into reserve savings (planned for JAN 2023, executed in FEB 2023) so all the 12/31/22 = 1/1/23 reserve monies would be in its own account ($96,862.78).
Note2: We moved monies into reserve savings (planned for JAN 2024, executed in JAN 2024) so all the 12/31/23 = 1/1/24 reserve monies would be in its own account ($117,642.08).
3) Multi-year Planning Team Status: The team (AKA the MF RP/RF Study Team) has effort going on in two areas, which are a) revising the current Multi-year Planning document and b) determining what outside resource to use in the reserve (property management) arena to validate our locally produced plan and provide consultation in areas where we have no local expertise. Working with Lowell Richardson of PMI we obtained three bids for a Reserve Plan/Reserve Fund Study. The team brought forward a recommendation in the second area for consideration at the 6/24/23 board meeting – with the recommendation being approved. A Reserve Advisors engineer made an onsite visit on Tuesday, 8/22/23, to initiate the study. The Study Team has received the Study Report and created a Study Team Executive Summary (which includes recommendations for board review & approval) that was an agenda item at the 11/4/23 board meeting. It was decided at the 11/4/23 board meeting that slightly revised versions of the first two recommendations would be voted on at the 11/28/23 board meeting. The third recommendation was approved at the 11/4/23 board meeting.
The Study Team brought forward two proposals for board consideration at the 11/28/23 board meeting. These proposals were based on team-perceived opportunities for improvement in our current practices and processes related to the Reserve Plan/Reserve Fund arena. both recommendations were approved
The current status is that there will be no more active work for the Study Team until second quarter of 2024.
4) Reserve Plan/Reserve Fund Tracking Report Status: While a verbal update was done to some degree at both the 11/4/23 & 11/28/23 board meetings, a written report covering the final 12/31/23 year end status was provided at the 1/27/24 board meeting. There has been no RP/RF activity yet in 2024, so no additional report has been created.
—
EP Rentals Report– Abbey and Team
Doing weekly tours of the HOA.
*Carl has done a fantastic job on snowplowing. Thank you. Not everyone is keeping the front door access clean of snow and ice.
*Not all of the Brodie units have numbers on the Brodie facing access. I would suggest that owners get numbers up.
*I will start getting decks inspected (each individual deck) starting after 1st of April. I have not gone behind the homes yet as I had not said that I would start inspecting decks. Hoping that I can set a time to meet with Nan or Ronnie to inspect the first of the decks. Going through the whole property should only take me one day and the write up of needs and questions will take a second day. Can I also get a list of what decks are owner responsibility, and what are HOA?
*Roofs there are a few that need to worked on. I need to see the list of who is up for roofs, and who had new roofs installed and when, and by whom. I have a couple questions about roof vents.
*I need to know where the structural vents are.
*April-ish/snow melt time going to follow up with the owner about the smell coming from under the house.
*The HOA needs to make a decision on if they are keeping the rail fencing or removing it. It has hit an age where it is falling apart. It needs to be replaced or removed.
*Some trees and shrubs are in need of CARE!!! And soon. Elk damage from rut. Bushes touching structures. Some bushes are right under attic vents. If they burn that take fire right into the home. Two trees seem to have taken hard wind hits, or they are in the process of expiring. I would like to meet with the landscaping team to see what their take is on the health of the trees and shrubs.
*Who has done the inspection of the Brodie wall sections in the past??
HOA dues are coming along well. Just have 2 accounts we are working to clear delinquent or late payments.
Auto payments are set on all vendor and utility accounts
All vendors are being paid timely
Financials are going well, getting them massaged and produced to the HOA’s perfection
Discussion on Estes Park Rentals report/transition update (Abbey and Team)
Dues: looking good. We still need to get 2 units up to date.
Member questionnaires: still need a few to go.
Update on architectural request-extension of deck: a permit is required. He doesn’t want to pay for the architectural drawings if we’re not going to approve it. The vent is a concern. It’s free to ask the building inspector what can be done for getting a grill back there.
Taxes: Needs a clarification on investment accounts before filing.
Snow removal: there was one person complaining that not all the snow was removed. Wind may have blown some back (still under 4″) and plowers came back and took care of it.
Work order status (Abbey and Team, B and G-Ronnie, Nan)-see below
Current status of pending work orders: all are caught up.
Asphalt project-bid received from Estes Park Asphalt: The recent bid sent to us by Abbey came in much higher than we expected. Mario (EP Asphalt) is more expensive but is very good and doesn’t require call backs. We’ve gone from $7500 to $62000. Where’s the money going to come from? That bid came from PMI. We may want it rebid to make sure it was properly bid.
Update on major projects for this year including:
Inspection of siding: to be determined
Inspection of foundations, including retaining wall: to be determined.
Roofing Review: Carl says the report has been written and sent “well before the 1st of the year” to Nan and PMI. Nan doesn’t have it. Carl’s computer crashed and he can’t rewrite it. EP Rentals will contact PMI to see if they have it. Carl has been paid for the report.
Other planned for this year? Yvonne will take a poll about the split rail fence along Brodie. It’s in bad shape and needs removal or replacement.
Business Practices Report (Yvonne, Pete)
Updating of documents-potential budget item
Update from John Gaddis email: All of our documents are old, but doable. Rewriting of the covenants would run around $10,000.
Next steps: We need a consultation with an HOA lawyer to determine how we can add the completion of Exhibit B to our Declarations and the ramifications of that.
Other items
Update on paving of Matthew Circle from Town meeting (Yvonne): The Town said they are in the planning stages this year for paving Matthew Circle, and will implement it in 2025.
Monthly plan document: A new document by Yvonne that addresses all the expense dates to pay the budget items. A wonderful addition and great help to management!
Date of next meeting? May 18,2024 at 10:00 on zoom
Adjourned: 11:18
Posted in Minutes 2024 by Susan with no comments yet.
Board Meeting 1/27/24
Estes Park Mountain Fairways
Board Meeting
January 27, 202
10:00 MT
Zoom Only
approval pending
Attendees: Yvonne Salfinger, Kevin Preston, Susan Novy, Pete & Linda Hogue, Abbey Pontius (EPR), Lori Calnon, Mary Beth Schuh
Call to Order: 10:02
Approval of minutes from meeting held November 28, 2023-they can be found at: https://epmfhoa.com/category/minutes/minutes-2023/ Passed.
Finance Team (Pete)
Treasurer’s Report:
Board Treasurer & Finance Team Summary Report For 1/27/24 Board Meeting: information repeated from last report is in italics Note to readers: This report covers all the activity in which the treasurer and finance team are involved. Motion made to approve Treasurer’s Report, Passed.
MF 2024 Revised Budget – the team will have recommended material for review & approval. Motion was made by Yvonne and seconded by Susan to approve the Revised Budget. Passed.
Estes Park Rentals report/transition update (Abbey and Team):
Dues: We have two members that are behind. Both are willingly in good contact with EPR for resolution.
Member questionnaires: most have come in. These are necessary for contact information, especially in case of emergency when you’re not in your unit.
Architectural request: extension of deck. Pete moved and Yvonne seconded that conceptually we approve, with the details to be determined. Passed.
Work order status (Abbey and Team, B&G-Ronnie, Nan): Most work orders from PMI are taken care of.
There was one unit concerned about an unidentified odor. This will be monitored again in the summer-it does not seem to be a problem now.
Gutter cleaning has been done. However, we do not have an invoice for this activity.
The roofing problem review has been completed, paid for, but we’re still waiting on the written report from the roofer. Verbally there wasn’t anything different than in the Reserve Study Report. The roofing issues identified in the Reserve Study Report are still pending (to our knowledge-there was no update from B and G) and need to be completed.
Insurance Report (Yvonne): We got State Farm Insurance exterior building insurance (replacement value) for $27,018 from Dec.23, 2023 – Dec 1, 2024.
Business Practices Report (Yvonne, Pete): We will start with asking John Gaddis whether we need a real estate lawyer specializing in HOAs to go over our covenants or if he could explain our questions. Yvonne has worked with a good real estate lawyer specializing in HOAs that she worked with at their last condo residence and HOA in Denver. The next step would be the free phone call with the team and lawyer to determine what needs to be done at what price.
Updating of documents– potential budget item: The board is wanting to make sure our covenants are up to date.
Date of next meeting: Mar.16,2024 at 10:00
Posted in Home, Minutes 2024 by Susan with no comments yet.
Board Meeting 11/28/23
Estes Park Mountain Fairways
Board Meeting
November 28, 2023
2:00 MT
Zoom Only
Approval Pending
Attendees: Susan Novy, Yvonne Salfinger, Pete & Linda Hogue , Steve & Anne Poznic, Abbey Pontius (EPR), Kevin Preston, LeAnn Briggle Dougherty (site manager)
Call To Order: 2:10
President Report: Transition updates to Estes Park Rentals, Abbey Pontius (Yvonne, Pete) They are working on getting the ACH in place for the owners to be able to pay online.
Signature Card: Kris Baumann at Bank of Colorado was emailed on 11/15/23, requesting that the signature card be updated with Abbey Pontius. She will notify us (Rick Jordan, Nan Belknap, Susan Novy, Anne Poznic, Pete Hogue, and Abbey Pontius) that the card is ready for the signatories to come to the Bank for updating of the cards.
Insurance updates (Yvonne)
Allen Coe, State Farm agent, was provided the Bank of Colorado account number for a payment on 11/15/2023; after checking and it did not go through, redid the payment on 11/21/2023.
Email vote– Motion made by Yvonne was approved by the board on 11/15/2023.
I move to pay State Farm a one-month premium of $2,131.42 from the Bank of Colorado account for a coverage binder for 60 days effective December 1, 2023, with full coverage hoping to be in effect by January 1, 2024. It will take them probably 60 days for underwriting to do the policy. This is our full coverage (as previous) and Liability and D and O.
Secretary Report: Approval of minutes from meeting held November 4, 2023. Passed.
Exhibit B Update: We need to get this together for mortgages and completing the Declarations. Kevin knew the exact mathematical formula for figuring this so the ratios remain the same as the original. (yeah engineering mathematicians!!)
Financial Report:
FINANCIALS AND FINANCIAL SITUATION
1) As a result of the difficulties with getting accurate monthly financials from PMI, the MF finance team has previously issued 7/31/23 and 8/31/23 and 9/30/23 manually done financials. Since the decision has been made to utilize EP Rentals as our service provider for 2024, the MF finance team has a two part plan going forward:
a) we will produce QB-based monthly financials based on the information that is stored in TOPS for the remainder of 2023 (including a revised 9/30/23 version) – having said that, the 9/30/23 revised financials (as well as later ones) will be different in two ways: first, the financial information will have been input into our On Line QuickBooks [QB] software from which the financials will be generated and second, the financials will be done on a cash accounting basis (rather than an accrual accounting basis used by TOPS)
b) the action above will greatly facilitate our transition to working with EP Rentals going into, and during, 2024 – our financial tools of OnLine QB (cash accounting) and the use of our current Bank of Colorado [BOC] checking account (which EP Rental will use for depositing our revenue and paying our bills) fit right in with their normal operating financial paradigms.
The full set of 10/31/23 financials is not yet ready for publication and distribution. We have a disconnect in our MF information in TOPS that needs to be reconciled before that can be done (we have asked PMI to assist with reconciling the disconnect and they have work-in-progress to do so).
2) We do have current information on the balances in our various accounts as of 10/31/23, so the values in the Show Us The Money section below are accurate.
3) The treasurer & finance chair and financial secretary made the decision that we would make a paradigm change for 2023. We will no longer allocate the monthly assessment revenue among the Operating Fund and the Reserve Fund (with three different components) in the monthly financials. Instead, we will do the allocation at year end. The upside of this decision is the monthly financial process & reporting for PMI (and our MF review of the financials and publishing our augmented monthly financials) is simplified. The downside of this decision is we will no longer have a monthly view of the Operating Fund and Reserve Fund ownership of the cash assets on the Balance Sheet.
Effective with the 9/30/23 financials and going forward once again the detail related to Operating Fund monies versus Reserve Fund monies is included in the monthly financials.
4) A proposal to have the finance team leadership more heavily involved in the operational financial management activities until EP Rentals officially takes over will be considered at the 11/28/23 board meeting.
MONTHLY ASSESSMENTS
We have two owners that are significantly in arrears for their assessments. Since the finance team has previously done all it can to get this situation resolved (including imposition of late fees), the situation has already been escalated to the board for their decision on planned actions (invoking use the Violation protocol).
SHOW US THE MONEY! As of October 31, 2023 – $174,936.27
BOC Checking $11,585.76
BOC Operations Savings. Closed Out
Fidelity Operations Savings. $6,817.24
Fidelity Reserve Savings 99,131.06
Alliance Checking (PMI MF account) 57,402.21
FINANCE TEAM STATUS INFORMATION
1) Outsourcing Implementation Team Status:
a) relative to PMI: PMI will no longer be our service provider for 2024; they will continue to serve MF for the remainder of
2023, with their two key tasks being continued operational financial management and providing MF with transitional
information as our financial information (an asset owned by MF) is released from their 2023 custodianship
b) relative to selection of our 2024 operational financial management service provider: EP Rentals has been approved by
the board to provide this service for 2024; the contract has been signed; our Outsourcing Implementation Team has been
redesigned (slightly) as needed basis the difference in service providers
c) relative to the “onboarding” activities between MF and EP Rental; activities needing to take place in October – December
have already begun – the expectation is the two organizations will be fully prepared for the 2024 new business year
partnership, including the needed communication to our MF owners that need to occur prior to year end
The appropriate EP Rentals personnel have been/are being set up with the needed authority and tools for managing our operational financial activities.
2) Investment Management Status: The finance team previously produced and distributed (for the March & September board meetings) information on our MF Investment Management portfolio. The “book” value, as opposed to “fair market value”, for each month is used for our financials – for full transparency both values are reported in the Financial Statement Notes each month. The table that follows provides a view of our increasing monthly values.
(chart in Financials section of website)
Note1: We moved $11,610.91 into reserve savings (planned for JAN, executed in FEB) so all the 12/31/22 = 1/1/23 reserve monies would be in its own account ($96,862.78).
3) Multi-year Planning Team Status: The team (AKA the MF RP/RF Study Team) has effort going on in two areas, which are a) revising the current Multi-year Planning document and b) determining what outside resource to use in the reserve (property management) arena to validate our locally produced plan and provide consultation in areas where we have no local expertise. Working with Lowell Richardson of PMI we obtained three bids for a Reserve Plan/Reserve Fund Study. The team brought forward a recommendation in the second area for consideration at the 6/24/23 board meeting – with the recommendation being approved. A Reserve Advisors engineer made an onsite visit on Tuesday, 8/22/23, to initiate the study. The Study Team has received the Study Report and created a Study Team Executive Summary (which includes recommendations for board review & approval) that was an agenda item at the 11/4/23 board meeting. It was decided at the 11/4/23 board meeting that slightly revised versions of two recommendations would be voted on at the 11/28/23 board meeting.
In addition, the Study Team is bringing forward two proposals for board consideration at the 11/28/23 board meeting. These proposals are based on team-perceived opportunities for improvement in our current practices and processes related to the Reserve Plan/Reserve Fund arena.
4) Reserve Plan/Reserve Fund Tracking Report Status: An initial report was presented at the 3/19/23 board meeting. An updated version was presented at the 8/5/23 board meeting. An updated report was not done at the 9/23/23 board meeting. Instead, a final view of the “budget” versus “needed” 2023 funding was presented to the board for approval – and that approval was received [board approval was required since the “needed” monies will cause an over-expenditure of the 2023 “budget” funds]. While an update was done to some degree at the 11/4/23 board meeting, it is expected that the B&G team will present a more complete updated 2023 status at the 11/28/23 board meeting.
Financial update: Quickbooks, billing for 2024, and other items
Email vote- Motion was approved by a majority of the board on 11/13/2023.
We need to vote to add Abbey Pontius of Estes Park Rentals to our Bank of Colorado account for the purpose to pay bills of our HOA as our property management company.
There was a motion made to have Anne & Pete pay all outstanding bills(using PMI and MF finance team appropriately) that are unpaid. Passed.
Reserve Study Team updates (Yvonne, Pete):
Motion was made to do 2 more inspections (sidings, foundations – including retaining wall) before moving forward with the reserve study report. Passed.
Motion was made to have the partnership of EPR and B&G make written reports sent out for advance review by the board effective with the January 2024 board meeting. Passed.
Motion was made that 1) the board determines whether we use a volunteer or a paid Project Manager [PM] for projects over $5,000 and 2) the board approves the PM appointment. Passed.
Study Team report was sent out to owners on 11/19/23-owners can request a copy of the report, which will be sent to them by email or brought to them on thumb drive.
Buildings & Grounds Report: (Nan & Ronnie are not present to give a report)
- Work order status (Ronnie, Nan)
- Painting project updates-invoice? -Pending items
- Cleaning of gutters
- Asphalt project
- Fence on Brodie
- Brush behind unit 1441 along Brodie
- Painting of Michael’s deck (1447)
- Carl did work on Gaddis’ garage drain-who will pay this? Other?
- List of pending items in PMI TOPS was sent to Ronnie and Nan
Next Meeting: January 27,2024 @ 10:00. Zoom.
Meeting Adjourned:
Respectfully Submitted,
Susan Novy- Secretary
Posted in Home, Minutes 2023 by Susan with no comments yet.
Board meeting 11/4/23
Estes Park Mountain Fairways Homeowners Association Board Meeting
Saturday, November 4, 2023, 10:00 am
Anderson Realty Office170 S. Saint Vrain Ave. (Board only) and
Via ZOOM/call in (Board and Owners)
Roll Call/Establish Quorum: Yvonne Salfinger, Kevin Preston, Susan Novy, Pete & Linda Hogue, Nan Belknap, Ronnie & Colleen LaRue, Steve & Anne Poznic, Jim Myers, Abbey Pontius & LeAnn, Becky Veltheon
Call to Order: 10:09
Introduction of new property manager (effective Jan 2024)-Abbey Pontius, Estes Park Rentals
They are excited for the opportunity to serve us and hope that this will be a good match. LeAnn is the person who will be doing all the onsite inspections. Feel free to stop by the office and say “hi”.
PMI is taking a new direction in their business and has cancelled us, as of Dec.31, 2023.
Approval of Previous Meeting Minutes
September 23, 2023 (if available) They are currently not available from PMI.
Finance Updates – Pete
Normal Treasurers financial information: includes the following
Investment management status report
Monthly financials status report
Reserve Plan/Reserve Fund Periodic Reporting status report
Outsourcing implementation team finance component status report
–
Buildings and Grounds Updates – Nan and Ronnie
Work Order Status: PMI has 10 open work orders that needs to be checked for status. Most have been completed. 1447 Deck needs painting (in the spring).
Roof inspection: Inspection found 4 issues to be taken care of. The inspection was not to exceed $1800.00. We are awaiting the written inspection report (which will be used to determine what actions are needed this year versus what can be delayed until next year).
Asphalt in 2023: Bid came in from PMI for 60K. That’s significantly higher than anticipated. By now the weather is too cold to get it done this year, anyway. We plan on doing this every 3 years. This was to be this year, but now it will be next year for only those driveways in need.
Additional activities planned for 2023/early 2024: Gutter cleaning will be done (by wind or contractor), and the vents have been closed.
Reserve Study Team update
We’ve received the report; it’s been reviewed; there’s 3 recommendations from the team that need to be board approved. These recommendations will be in the cover letter to the reserve study report that is to be sent out to the owners so the owners can see the steps that the board wants to take before adopting the study. The study does recommend some rather hefty increases in assessments.(Discussion: some of the wording needs to be made clearer before approving and sending out.)
3 Recommendations: (summary by Susan)
1. The team accepts that the study was satisfactorily completed and that we may need further information for possible/probable changes to the financial and asset plans before adopting a timeline for the assets, especially for our 5 year plan.
2. Commission 3 additional inspections: Roof, Decks/Bridges/Siding, and Foundations/Retaining Wall.
3. Deal with the “setting the assessments”.
Distribution of report: We will email the Study Team Executive Summary report out to the owners. Yvonne will send an email request to every owner who will then need to respond to the request in order to additionally get the Reserve Advisor 53 page report. This will ensure receipt.
Review of assessment chart:
Ronnie Opposed, all others Approve.
Approval of final assessments for 2024: 2024 assessment will increase to $458.00/month/unit.
Business practices team report
Insurance: We were cancelled by American Family due to the company changing their policy on the number of buildings to insure (they are now only insuring HOA’s with less than 10 buildings and we have 12 + 1 shed). We have looked at other options (secondary markets-very expensive) and found that State Farm may insure us. We have done all the needed inspections and they have been sent to the underwriters. We have not heard back from the agent yet. We have a few buildings that are coming up on 40 years old in 2024, which would make us ineligible for starting insurance with State Farm; consequently, we may need to start the policy in Dec. 2023.
Insuring for fire is the reason it’s getting so difficult to get insurance. The new property manager mentioned other options, should this fall through.
2023/2024 latest MF org chart approved as submitted.
2022/23 High Level Time Line (HLTL): no discussion. We just set the next board meeting.
2023 December meeting?: Tues., Nov. 28 at 2:00, if needed.
–
Updating of governing documents: Updating the policies would cost $800. Updating the declarations is 10K or hourly by section needed. We do need to update Exhibit B (percentage of ownership of the common elements by unit) to include all of the units (it currently only includes the initial 6 units) so that section 19 can be followed (assessing the common elements). All of our 9 policies need to be updated to current law, as well. Yvonne is working with a lawyer to determine what further action and at what price for board approval.
Open Discussion: no other discussion.
–
Motions approved by email during October (no further action required):
Finance team proposal 10/14/23-approved
That the association deal with our two current Bank of Colorado accounts as follows:
1)close out our savings account and transfer the monies to our Alliance Bank checking account (current balance as of 9/30/23 is $3,806.28)
2)transfer all but $3,500 from our checking account to our Alliance Bank checking account(current balance as of 9/30/23 is $22,779.48) – this will leave the account open but not cause any banking fees while it is open
3)that the Treasurer executed actions to take place as soon as possible such that they are complete prior to the treasurer leaving for his winter home on 10/20/23.
Finance team proposal 10/18/23-approved
That we make the following changes to our Bank of Colorado [BOC] banking authorities and business information as follows:
1) BOC checking account signature card (this is basically who can sign checks):
a) leave Rick Jordan, Nan Belknap, and Pete Hogue on the card
b) add Anne Poznic and Yvonne Salfinger to the card
2) BOC checking account On Line Banking authority:
a) leave Pete Hogue with the authority
b) remove Kathy Beatty& Becky Velthoen from having authority
c) adding Anne Poznic so she has the authority
3) BOC information on our corporate officers – update to current:
President – Yvonne Salinger
Vice-president – Kevin Preston
Secretary – Susan Novy
Treasurer – Pete Hogue.
Proposal by the Insurance Team/Finance Team on 10/18/23-approved
The unbudgeted expenditure for the insurance inspection by the electrician will be taken from the Operating Fund. $$-TBD (as of 10/28/23)-awaiting invoice from Miracle Electric for completed inspection by Eric Eichman.
Proposal by Outsourcing Implementation Team on 10/19/23-approved
The Outsourcing Implementation Team is proposing to the Board to hire Abbey Pontius of Estes Park Rentals (and Anderson Realty and Management) as the new property manager for our HOA. The contract was signed on 10/24/23 by Yvonne Salfinger, President.
Proposal by Buildings and Grounds Committee on 10/19/23-approved
A visual inspection will be performed by Carl (CMJ Enterprises) and Scott of all thirty roofs. They will prepare a written report describing what they consider problem areas. They will also include the urgency they consider in making each repair, not to exceed $1,800. This does not include any repairs, only an inspection.
Adjournment: 11:30
Respecfully Submitted,
Susan Novy- Secretary
Posted in Home, Minutes 2023 by Susan with no comments yet.
EPMFHOA Minutes 5/21/23
Posted in Home, Minutes 2023 by Susan with no comments yet.
Board Meeting following Annual Meeting 8/12/23
Approval Pending
Estes Park Mountain Fairways Board Meeting (directly following the Annual Meeting) 8/12/23
Attendees: Pete Hogue, Susan Novy, Yvonne Salfinger, Kevin Preston by phone: Ronnie LaRue, Nan Belknap
Call to Order: 4:10
Elected Board Members Determine Positions:
President: Yvonne Salfinger
Vice President: Kevin Preston
Secretary: Susan Novy
Treasurer: Pete Hogue
Operation Directors: Nan Belknap, Ronnie LaRue
Ronnie moved to accept the slate, Pete 2nd. Passed.
Committees:
Finance: Pete Hogue (chair) Anne Poznic, Ronnie LaRue, Linda
Hogue (members)
Buildings & Grounds: Nan Belknap & Ronnie LaRue (co-chairs) Pete Hogue, Steve Poznic (members)
New Business:
Discussion surrounding the Reserve Study starting Aug. 22, 2023.
The engineer wants to study the development unattended and will not need to interface with any of the homeowners. In the meeting directly prior to the study Pete wants to make sure that at least the following 3 reserve items are addressed:
The retaining wall
The foundations
Roofs
The results should be available within 4-5 weeks following the study.
Susan is wondering if the engineer could also, outside of the reserve study, determine the percentage of interest in the undivided common elements in order to complete our Declarations. (See the article on the website under Declarations/Secretary’s Notes) The original Declarations only have 6 units
in Exhibit B (the percentage of interest in the common elements). The developer is responsible for obtaining that information, and from what she found out from Westover Construction (a local developer/contractor), they usually farm that out to the engineer. The original developer and engineer for our project have died, so another engineer needs to be found to complete Exhibit B. (The Title Company’s data base only goes to 1991 for us with 6 buildings/13 units.) She also found the most recent Plat (1995), that has all the buildings on it, to be used for the missing Exhibit A of the Declarations. Having both exhibits should complete the Declarations. A Real Estate Attorney may be needed for review. The board is trying to make sure our documents are adequate for PMI to utilize.
Next Board Meeting: Sept. 23, 2023, 3:00 at the Hogues (1458) Adjourned: 5:10
Respectfully Submitted,
Susan Novy- secretary
Posted in Minutes 2023 by Susan with no comments yet.
Board meeting 6/24/23
Estes Park Mountain Fairways Homeowners Association Board Meeting Minutes
June 24, 2023 3:00 PM
Via Zoom Approved 9/23/23
Present
John Gaddis Ronnie LaRue Pete Hogue Naon Belknap Yvonne Slafinger Pamm Haglund
PMI
Tim Richardson Shari DeOllos Lowell Richardson
Call meeting to order 3:02pm by John
Approval of previous meeting minutes:
Not approved until the following revisions are made. March 18th Yvonne Salfinger was present
May 21st move motion to reserve study
March 18th too abbreviated add more to the minutes
It helps if PMI can facilitate the meeting to record them which helps with meeting minutes. An AI will do a verbatim transcript App is suggested. Best to cover bases.
Get more robust March Minutes. Motion to approve May minutes by John and second by Yvonne and will approve March minutes next meeting.
Financials with Pete:
Sent out documents about information on the reserve plan and the operating and insurance. Treasurer report and the finance team is involved in. owner receivables are not correlating. Ronnie says it has been going on for months, when can we expect these reports. He would like to know when this will be completed.
It’s important to understand the process to give you a timeline. There are a few things that have been divulged. How we work with other HOA’s, we can not give correct financials, we need bank statements to make things come out correctly. What has been provided is spreadsheets. We need proper reconciliation. Having that information makes Shari’s job a heck of a lot easier. It’s important for the Board to realize that to meet the HOA’s expectations we need the bank statements to make adequate financials.
Once the transition has been accomplished other HOA’s have been running smoothly. PMI was concerned that the spreadsheets that were being sent to the office did not match the financials that were being created from the software.
Get all statements by the end of next week. Then can financials get caught up by the middle of July.
When was the last time the finance team met? As Ronnie is on the team and the last meeting was June of last year and he has not had any input.
Reserves Study:
Outsourcing of the reserve team. Study of the reserve fund. Two or three bids from vendors and working with the budget. Process takes multiple weeks.
When this report is completed, who will it be made available to? To the Board, the recommendations would go to the Board. The committee’s will be part of the decision making. They will use their expertise to make recommendations to current approaches of using expenditures towards repairs. How far will the Reserve Study look to, 10 or 20 years? Coming back with a negative report could cause an issue for the HOA. Many of the basements are built out of wood not concrete so wonder if that would cause a negative impact.
Reserve studies are asked if done when a status letter or questionnaire comes across Tim’s desk but it does not have to be shared with the requester.
Is there a proposal to approve?
What is the urgency? Some believe it is long overdue and Lowell thinks this is important. Concerns about enough money in the budget this year to put towards a Reserve Fund. John brings the debate to a close and asks for a motion to approve to have a Reserve Study done.
Motion to approve the proposal that the team has put out. Pamm makes a motion and Yvonne seconds to do the reserve fund study. 3:46 PM 5 yes and 1 opposed, motion carries.
Board member rolls for next year:
John is leaving the Board next year. Ronnie plans on being on the Board next year. Yvonne, Pamm and Nan have some ideas for new blood.
PMI Report of Activities:
Lowell/Tim- Refer to Lowell for the landscape questions.
Nan would like a report of invoices paid from Alliance. This will go back to the financials and this will report monthly. A separate report can be run but there is a report that is included on the financials.
Would like Lowell to send a report through email on landscape report/Insurance.
Work orders for owners to enter? From research it looks like work orders can be entered by homeowners. It only shows what is open for their property. Will look for instructions on how to do this. At this time emails sent to Shari with work order requests works as Shari puts them into the system and emails the vendor. Shari will revisit this entering work orders from the homeowners side to see how it works.
Lowell Update:
Landscaping and Insurance he is waiting for a couple of brokers to get back to him. It’s presenting itself to be difficult. AmFam is based on buildings and EPMF has too many, working with IMA and another company in Loveland. Have not seen results.
Carl is supposed to provide some items to help improve the property and who can provide the fert applications. The weather has gotten in the way for some of the applications.
The other maintenance list is being addressed: Vents
Fence Rail
Posts and handrails need to be repaired on the east side where they are completely rotted out waiting on bid from Carl. Recommend to at least address the ones that are on the East side by the golf course that are completely rotted out. Question on whether this is the HOA or is it shared. Lowell will check to see if it is shared.
Has been having issues with Nan getting called about sprinklers, the timers being changed and being turned off as well she talked to Carl to replace the timers from 6 to 2 timers but it would cost around $1000 these are located on the golf course side. Lowell will have a conversation with Carl about this talk.
Architectural control – new windows – vote was to go ahead and replace windows. Windows and doors were the responsibility of the owner and previously the Board did not tell the owners what they were to install. Just as long as they were not colors not used in the HOA at this time they were fine with replacing. Explanation about items that are structural changes, the Board will put together.
Open Discussion:
No one had any items to bring up.
Next Meeting:
Board Meeting in August with the budget worksheet and assessment worksheet with the Financial Team. Also Annual meeting in August. After that another Board meeting after the Annual meeting to elect officers.
Finance Team/ 2024 Budget Meeting in August, Ronnie will work with Lowell and the rest of the committee to come up with a budget meeting time.
August 5th at 3:00 pm for the next Board Meeting.
Face to Face at the Annual Board Meeting, perhaps meeting at the Church 12th of August at 3pm, will request Gary to see if the church is available.
Motion to adjourn by John at 4:28 PM
Posted in Minutes 2023 by Susan with no comments yet.
EPMFHOA Minutes 3/18/23
Estes Park Mountain Fairways Homeowners Association
Board Meeting Minutes
March 18, 2023, 2:00 PM
Via ZOOM
Approved 9/23/23
PMI
Tim Richardson Shari DeOllos Lowell Richardson
Revised Notes: (Sound was not good and often times people speaking would fade out – these notes had to be redone using headphones)
Roll Call/Quorum Established
Quorum was established.
Call to Order
Meeting called to order 2:16 PM
Approval of Meeting Minutes
• January 21st, 2023 – all approve at 2:18 PM
How is the transition going:
Lowell reports that there have been some communication hitches. Typically, it takes about 3 months to get things running smoothly. Building and Grounds maintenance has been handled in a certain way for so many years it takes time for both sides to understand the expectations as we learn how to work together.
It was said that there were bumps in the road as far as the financials were concerned. Ann felt that the February Financials were getting close and hopefully be released soon.
The building, grounds and landscaping is still being maintained by current vendors, looking for contract with landscaper. PMI would aid in additional coordination with other vendors if needed.
The Board would like to have the landscaping contract posted to TOPS. There seems to be confusion about who is doing what and the Board would like to have PMI send a memo on processes.
Lowell just wants to clarify that PMI is working for the Board not the committees, PMI can work with the committees with the Board’s direction, there is concern that the committees will want to direct PMI, direction should only be coming from the Board.
If there are specific issues coming up, just notify PMI and we can manage the issue from there. If we do a half in half out relationship it will cause greater confusion down the road.
1
What PMI would like is to have written details from the Board about each committee and their roles and how they report to the Board and then written directions to PMI how they want PMI to interact with these committees. At the end of the day PMI answers to the Board.
The day-to-day mundane things would be addressed by Nan and Ronnie. Other significant issues would be sent to PMI.
John said they would create a memo to give to PMI.
Financial Reporting:
There are three pertinent documents sent by Pete.
The Treasurers Report, Monthly Report/Reserve Plan/Reserve Fund/Financial Perspective/P&G Project Perspective, Investment Management.
There is one question about the investments that were made not being in FIDC protected accounts. They were high yield accounts, but Pete had not thought about the FIDC protection portion of it. Going forward when those investments roll over, they will be put into FIDC protected accounts. The finance team has been informed and kept up to date and they will be aware of this in the future. Treasurers Report:
The Board has been informed of the change from cash accounting to accrual accounting and the change in software. Manual reports have been created to show financials. At the yearend monies is moved into the reserves account, the transaction did not actually happen till February, but the financials will reflect that it has been moved as it should be. There is a significant growth in the cash. In finishing our transition work to get over the bumps in the financials.
We are still having problems with the same three owners that PMI should work on getting those owners up to date on their accounts.
John – interjects with everything sounds good and knows that Lowell is well versed with Colorado law to deal with the outstanding accounts. Asks Pete to move through the report as quickly as possible as everyone was having trouble hearing him as he was cutting in and out through the feed. Reserve Report:
Zero was spent from this account in January and lays out the approved plan to discuss with the Board – Staining of the decks and bridges. In the approved plan the how often, floors more often than the uprights, etc. B&G suggests to change this process at this point but neither party is ready to make an actual change to the process because there is a committee working on revising the multi-year planning work.
This does not have to be decided on today.
Pete suggests Anne take over the conversation on this since Pete was a bit difficult to hear.
Anne wants to ask PMI about getting a Reserve Study done and asks Lowell to speak on this. He asked American Family to provide all the policies and on review it looks as if all needed policies are in place. When looking at asset management and risk management and how to address this, it is best to have a professional entity look at this. A Reserve Study reviews not only insurance but how to protect your assets and capital improvement plans that the HOA is responsible for. Looking at the policies the HOA has what it needs at this time, but the Reserve Study can present what the HOA will need for the future. Lowell recommends this would be the next step for the Board.
A Reserve Study hires a company that brings in a licensed Architect or Civil Engineer that are served by specialist that looks at the assets of the HOA. An onsite inspection will look at life expectancy and provide the HOA with mathematical formulas that will help you take into consideration the costs of upkeep of the property. This includes a strategy on how to plan financially to address the capital assets. As the HOA builds the Reserves then the report will guide the Board on when to maintain or replace certain areas of assets.
For example, a roof may have a 30-year life expectancy, what is being done to maintain its life
2
expectancy? And eventually the replacement of this roof in 30 years.
The Reserve Study sets the Board up to demonstrate that they are practicing their fiduciary responsibilities. An HOA is not required to do a Reserve Study, but it puts the Board in a position that they are indeed doing best practices for the HOA.
Anne had put together some bids which went from 2900 up to 4200. The Board has been very careful and diligent in assessments that they cover the capital expenses. Would like the finance team to think over the Reserve Study and advise the rest of the Board on what they think would be best. John also asked Lowell to look over the insurance policy as they have requirements in the CC&R’s that are very strict and if the insurance does not cover as per the covenants that will need to be corrected.
It was requested by Lowell to give expenditures on the Operating funds for monthly expenses. Rule of thumb funds the Reserve fund then goes from there. Reserve funds should be 60% of what would take to replace the assets.
What you need to fund your operation and make sure that it covers the monthly costs. A Reserve Study helps with aligning processes to get funds into the correct areas to help with protecting the assets of the HOA.
The Zoning department looking for maps of the HOA another member said they had maps. (Not able to hear the next section)
The future meeting thought to be July, September. Noted by Pete that in season they have more frequent meetings. Out of season meetings Nov, Jan, April. Pete will send out the latest Milestone chart to see what the meeting schedule is set at.
The next meeting, they had set was May 20th, at 10:00 AM
John calls the meeting adjourned at 3:11 PM
Posted in Home, Minutes 2023 by Susan with no comments yet.