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.
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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
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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.
Board Meeting 1/21/23
Epmfhoa Board Meeting
1/21/23
10:00 am
Zoom
Attendees: Zoom: Pete & Linda Hogue, Susan Novy, Sherry Reilly, Jim Myers, Lowell Richardson (PMI), Max Salinger, Nan Belknap, Ronnie LaRue, Julie Walsh, Anne Poznic, Randy Rahne, Ed Emmer, Becky Valthoen, Tim Richardson
In Person: Pamm Haglund, Yvonne Salfinger, John Gaddis
Welcome and Introductions: (John)
Approve Minutes: (Susan) There was a motion by Pamm to approve the last 7 sets of minutes, Anne seconded. Passed.
Pete objects to the Town Hall minutes.
Transition to PMI (Pamm and PMI Rep)
a. How is it going? We’ve transitioned from being self-managed to PMI. There have been questions concerning how long it takes to post paid dues. Lowell (PMI) responded that it should only take 24-48 hours. They will send out a mass email to the HOA explaining how to pay. There are no extra charges except by credit card, where the owner pays the credit card fee. (We know people like to get vacation points, etc. by using their credit card, but neither PMI nor the HOA wants to pay the fees for that)
b. Who does a HOA member contact if there is an issue? Shari at office@pminortherncolorado.com 970-586- (he couldn’t remember the rest- but it will be included in the welcome letter that PMI will send out to everyone via email, and 2 owners by mail. It was also requested by Randy Rahne to include in the letter a reminder to everyone of the need for “loss assessment” insurance on your personal homeowners insurance. It’s cheap and will cover what our HOA homeowner’s insurance won’t cover on the buildings, such as hail and/or wind damage to the roof.
c. What does PMI need from us? PMI will handle the board meetings via zoom in order to record them and write a synopsis and then post them on everyone’s portal.
d. What do we need from PMI? Workorder process. It starts with the work order from our website and then goes to Nan. Nan will work with PMI once the work order is approved by the board. Snow removal was discussed (while my laptop died and I switched to phone)
e. Discussion about the new project team to update the multi year financial planning document. At this point in time, it’s not updated yet. The team of 3 is working on it. They will get a local expert to look at it as well. Pete will talk to Lowell (PMI) about what they can offer.
Treasurer Report and Finances (Pete)
a. Status of change over to PMI: Pete will contact Shari (PMI) to get an updated report on who has paid their dues.
b. 2022 financials: Reserve Financial Planning Report was reviewed.
c. January 2023 financials
The 2023 MF Revised Budget was reviewed and approved as presented.
Treasurer’s Report For 01/21/23 Board Meeting:
FINANCIALS AND FINANCIAL SITUATION information repeated from last report is in italics
1) The 12/31/22 financials are almost completed and will be put on the website when they are complete. A brief summary of the expected year end results follows: a) Operating Fund had revenue of $81,445.38 and expense of $91,998.77 for a net loss of $10,553.39 b) Reserve Fund had assessment revenue of $61,731.00 and interest revenue of $741.57 and expense of $49,943.48 which allowed us to add $12,529.09 to our monies being saved.
2) Our team partnered with the B&G team to develop the 2023 Budget material that was approved by the board at the special board meeting 8/23/22 called for that purpose after a non-successful attempt to approve it at the 8/1/22 board meeting. This work was done subsequent to the 7/2/22 Town Hall meeting so the owner feedback on insurance and outsourcing costs could be incorporated. This year’s efforts were even more complex and time-consuming than in past years due to the issues involved. The owners confirmed the 2023 Budget at the 8/27/22 Annual meeting.
3) The 2023 Revised Budget material (two documents) has been prepared for review and approval at this board meeting. Some key points follow:a) our insurance expense will be $5,000 less than the previous value) our B&G related expenses will be $2,000 less than the previous value
c) our revenue will be $700 more than the previous valued) as a result, our total net position for the year will be $7,700 more than the previous value (-1,360 goes to +6,340).
4) The key step in our outsourcing efforts was formation of an Outsourcing Implementation Team (approved at the September board meeting, includes two members from the finance team). In addition, it includes Anne Poznic who has agreed to assist the finance team in the finance arena outsourcing implementation work. Several key status observations follow:
a) the majority of the 2022/2023 transition work is done, with JAN 2023 financial operations business being done by PMI b) PMI has provided MF owners with billing & payment guidance, in particular their new capability of doing on line payments c) MF & PMI have confirmed there is no cost to the association if an owner chooses to pay by credit cardd) the MF and PMI financial personnel will be carefully monitoring the transactions that impact our five key accounts which occur over the year end boundary.
5) Our projected year end monies are split between the Operating Fund ($15,865.04) and the Reserve Fund ($97,033.78) for a total of $112,898.82. Also, the Fidelity Reserve Savings is split between a base balance ($55,733.78) and CD ‘s ($42,000.00) for a total of $93,733.78.
MONTHLY ASSESSMENTS
We have several owners that are in arrears for their December 2022 assessments. While it is expected that this is a temporary situation which will resolve itself without further action, there is one situation that may need to be escalated to the board sometime soon.
SHOW US THE MONEY!
As of December 31, 2022 – $112,508.82
BOC Checking $5,146.55B
OC Operations $3,767.57
Fidelity Operations Savings $6,560.92
Fidelity Reserve Savings $97,033.78
d. Where payments are to be made? On your personal portal.
e. Who pays the credit card fees? The owner.
Buildings and Grounds Report (Nan)
a. Status of change over to PMI: ongoing, but going well.
b. Snow plowing- is it OK? By and large it is going very well. Quite a bit of snow for so early in the season.
c. Trash pick up- is it OK? Yes
d. Roof Leak – is it being handled? It is being handled. It is a leak at the fireplace roof flashing. More expertise is required and being looked into.
e. Other building and grounds issues: Painted the Bodie units in 2022. Replaced one deck. The other deck painting in the 2022 budget was moved to 2023.
Fun Committee Report (Gary and Jim): They will have big plans at the next meeting 😉
Next Board Meeting: March 18, 2023 at 2:00. Zoom by PMI.
Respectfully submitted,
Susan Novy- secretary
Posted in Home, Minutes 2023 by Susan with no comments yet.
Board Meeting 11/19/22
EPMFHOA Board Meeting
11/19/2022 @ 10:00 am
At the Gaddis’s
Attendees: John Gaddis, Susan Novy, Nan Belknap, Becky Valthoen, Yvonne Salfinger, Lowell Richardson (PMI)
Via Zoom: Pete and Linda Hogue, Ronnie LaRue
President’s Report: WOW! Homemade coffee cake and tea/coffee, compliments of Sally! We all introduced ourselves and relayed something about Thanksgiving. John mentioned that part of the joy of living in a small association is getting to know each other.
Secretary’s Report: approval of 8/1/22 minutes, Annual Meeting Minutes, Board Meeting following Annual Meeting minutes, and 9/17/22 minutes.
Need to find the 8/23 board meeting minutes and all will be reviewed at the January meeting.
Old Business: Committee Reports
Fun Committee: Claudia Jordan was nominated to keep the Thursday at 4:00 gathering going.
B&G Report:
Painting has been completed to everyone’s satisfaction. All siding, except one board, has been completed. Carl, the installer, is down with Covid now. The deck that was in progress (1454)is now complete.
Outsourcing Transfer Report:
So far only the financing team has talked to PMI. Things are going well as far as the financial transfer of information is going. The owners will be contacted soon, via email, to set up their portals that we can access for paying dues and seeing all public documents. Our own website, epmfhoa.com, will stay in place, as well. That way realtors and potential new owners still have a site to look at. Pamm and Yvonne have been out of town, so the other committees haven’t started the transfer yet.
Lowell commented on getting all the information transferred. The finances need to be in place first, so PMI can collect dues and pay bills. The next priority is the rest of the committees work. PMI has not received a timeline from us yet.
We also asked Lowell about all the boxes of old documents that are being stored and if he had suggestions of how to store these. He didn’t know the timelines off the top of his head as to how long which documents need to be saved. He will look into it. Yvonne volunteered to scan those that needed to be kept electronically. (it’s a favorite hobby of hers, she says)
Finance team Reports:
Treasurer’s Report 11/19/22:
FINANCIALS AND FINANCIAL SITUATION information repeated from last report is in italics
1) The 10/31/22 financials are completed and on the website.
2) Our team partnered with the B&G team to develop the 2023 Budget material that was approved by the board at the special board meeting 8/23/22 called for that purpose after a non-successful attempt to approve it at the 8/1/22 board meeting. This work was done subsequent to the 7/2/22 Town Hall meeting so the owner feedback on insurance and outsourcing costs could be incorporated. This year’s efforts were even more complex and time-consuming than in past years due to the issues involved. The owners confirmed the 2023 Budget at the 8/27/22 Annual meeting.
3) Your 2022 finance team is made up of four folks (Becky Velthoen, Linda Hogue, Ronnie LaRue, and
Pete Hogue). While not the desired situation our three key positions/roles (financial secretary,
treasurer, and finance chair) are currently held by two folks (Becky & Pete) which is due to
resignations and retirements during 2021 – with no one else stepping up to improve our resource
situation.
4) Our team has gotten involved in several activities in the near term:
a) determining how to invest some of our funds in safe investments (CD’s, MM accounts) given
the fact that the ROI for those types of instruments is improving second phase accomplished, more to come
b) determining what type of financial review should be done this summer we recommend none be done this summer
– the outsourcing project is by far the higher priority
c) determining whether to propose one or more additional administrative fees when effort is required
from the team due to an owner’s personal financial action (such as re-financing) on hold pending
what the Outsourcing Implementation Team determines is the right solution given the change in what
resources are impacted (PMI versus MF volunteers)
5) The key step in our outsourcing efforts was a formation of an Outsourcing implementation Team (approved at the September board meeting, includes several members from the finance team). In addition, it includes Anne Poznic who has agreed to assist the finance team in the finance arena outsourcing implementation work.
6) Our monies are split between the Operating Fund ($21,335.12) and the Reserve Fund ($130,729.08) for a total of $152,064.20. Also, the Fidelity Reserve Savings is split between a base balance ($42,923.76) and CD ‘s ($42,000.00) for a total of $84,639.23.
7) The finance team is recommending our Investment Management proposal (separate document) be approved at the board meeting.
MONTHLY ASSESSMENTS
We have several owners that are in arrears for their November 2022 assessments. While it is expected that this is a temporary situation which will resolve itself without further action, there is one situation that may need to be escalated to the board sometime soon.
SHOW US THE MONEY! As of October 31, 2022 – $152,064.20
| BOC Checking | $56,856.86 | |
| BOC Operations Savings | 3,760.18 | |
| Fidelity Operations Savings | 6,523.40 | |
| Fidelity Reserve Savings | 84,923.76 | |
Investment Policy Report:
Summary: We have $140,000.00 in income, $40,000.00 in painting paid out, which should leave $100,000.00 at year end.
Motion was made by Nan that we will adopt the investment policy, Becky 2nd. Passed
Reserve funding plan
Summary: a nice flow chart that PMI can pick up on.
2021 MF Multi-Year Financial Planning document:
This will be updated and reviewed in the January meeting.
–
Business Practices:
2021-2022 Time Line Document:
Nan moved to approve the timeline, Becky 2nd. Passed.
Susan requested a new time for the board meetings as she has a zoom meeting every 3rd Sat. From 10-1:00. Everyone present was fine with 2:00, same days.
Next meeting Jan 21, 2023 at 2:00
Adjourned: 11:20
Posted in Minutes 2022 by Susan with no comments yet.
Board Meeting 9/17/22
EPMFHOA Board Meeting
Sept. 17,2022
10:00 @ the Gaddis’s (1456)
Attendees: John Gaddis, Pete & Linda Hogue, Susan Novy, Pamm Haglund, Anne Poznic, Yvonne Salfinger, Becky Valtheon (first part of the meeting), Jim Meyers
Via zoom: Ronnie LaRue, Nan Belknap
President’s Report: John had everyone introduce themselves and give some info about themselves. It’s nice to live in a community where we know our neighbors.
Discussion on property management company and how to transition: John talked with Lowell at PMI and was impressed with him and that he lives in Estes Park. Lowell responded to our questions. The email with the responses was sent out to the board and John will also review them and give his response to us.
Pamm made a chart with the team responsible for the transition which is divided into 3 categories: administration, finance and facilities. Even though there’s more than one person in each category, PMI only wants to deal with one person per category.
Financial Reports:
Treasurer’s Report:
Transition to PMI financially: Typically, B&G determines what needs to be done and finds contractors and works with finance to make sure we can pay for it. Pete has concerns about whether we are able to complete our projects this year. Ronnie responded that the Brodie units painting will be done, but that row of units is our most expensive and makes it difficult to do many other projects. The siding will be completed that started last year. The building permit was obtained. We do need to address driveways.
We will continue as normal until the transition to PMI is completed January 1. Then PMI will help take over a lot of these issues.
Business Operations Report:
Pete made a draft organizational chart. We don’t know what will change once PMI comes on board, since we’re hiring a property management to take over some of these responsibilities. But this chart is typical of previous years.
Buildings & Grounds Report:
1. Driveways. A visual inspection will be done in the Fall of 2022. Any driveway deemed necessary of repair/coating will be done in 2022. All other driveways will be done in 2023. Currently, there is $2,500 a year budgeted for this work beginning in 2021. B&G anticipates using the total 3 year amount of $7,500 in 2023 if necessary (to the extent not used in 2022. 2. Painting. The painting of the Brody units is getting underway. Poznic deck railings will be re-painted in the Fall of 2022 (it was mistakenly painted the wrong color in 2021). Pamm Haglund’s deck was to be clear-coated instead of painted and needs to be returned to a clearcoat. Also, there’s overspray on her bathroom skylight that needs removing. No other non-scheduled porch/deck work is anticipated to be done in 2022.
Next Meetings: Nov. 19 at 10:00 at John’s (1456)
Jan 21 at 10:00 at John’s (1456)
Mar. 18 at 10:00 at John’s (1456)
May 20 at 10:00 at John’s (1456)
Adjourn: 11:10 am
Posted in Minutes 2022 by Susan with no comments yet.
Board Meeting 8/27/22
Approval Pending
Board Meeting directly following Annual Meeting
8/27/2022
12:30
Attendees: John Gaddis, Susan Novy, Nan Belknap, Pete Hogue, Ronnie LaRue, Pamm Haglund, Nipan Karmacharya, Rick Jordan
Election of Officers:
President: John Gaddis
Vice President: Yvonne Salfinger
Secretary: Susan Novy
Treasurer: Pete Hogue
Operations Director: Ronnie LaRue & Nan Belknap
Members at Large: Nipan Karmacharya, Becky Valthoen, Pamm Haglund
Moved by Pete to accept positions, 2nd by John. Passed.
Committees:
Finance: Pete, Ronnie LaRue
B&G: Nan Belknap
Community Activities: Gary Dougherty, Pamm Haglund
Next Meeting: Sept. 17 at 4:00
Adjourn: 12:45
Posted in Minutes 2022 by Susan with no comments yet.
Annual Meeting 8/27/22
Annual Board Meeting
8/27/2022
At the Hogue’s 11:00am
Attendees: Rick and Claudia Jordan, Pete and Linda Hogue, Susan Novy, Nan Belknap, Kathy Beatty, Elen Crone, Steve Poznic, John and Sally Gaddis, Kevin & Debbie Preston, Tim & Leigh Dawson
Zoom: Ronnie LaRue, Linda Buehring, David & Brittany Weibel, Nipan Karmacharya, Pamm Haglund
Proxies: Sherrie Rielly, Becky Valthoen, Molly Brown (3- Nan Belknap); David Boziden, Jim & Tina Myers, Diane Yoblin, Mary Stillman (4-Ronnie LaRue); Max & Yvonne Salfinger, Julie Walsh/Kjeldegaard, Randy Rahne (3-Rick Jordan)
Call to Order: 11:00
Sadly, we just got word that Arleta Bell (1440) passed away this morning. We had a time of silence for her and will miss her greatly.
Introductions: Those present introduced themselves.
President’s Report: Rick welcomed everyone and talked about the large increases this year. Both our values and insurance has gone up considerably.
He also wants everyone to know about our happy hour every week at the Hanger during the summer and Poppy’s during the winter. This is open to all and takes place every Thursday at 4:00.
We have decided to hire a property management company, PMI, as we are a bit behind the times with how we’re handling the HOA. We have a lot of documents that need to be updated and it would be nice to have a professional company get us up to date and be able to manage problems for us.
We are thankful for all the committees that have worked so hard to keep us managed. Buildings & Grounds have been very instrumental in finding products to upgrade with. The paint for the buildings should last longer and we’re updating the railings to metal railings.
We need to remember that we only have long term rentals. Should you have guests coming and are not going to be there with them, please let someone on the board know and make sure your guests know the rules; especially having to do with fires, noise and parking. It’s a lovely place to be and we want everyone to feel safe while enjoying themselves.
John Gaddis wanted to know about the streets and when they’re going to be repaved and potholes fixed. We didn’t have any information, so John will ask the town himself.
Finance Team Summary: Pete led the discussion. He went through a visualization on how the team comes up with the budget to pay the bills and save for projects. They try to balance two factors: impact on owners and keeping the HOA maintained. Planning for 2023 has been a challenging year to balance these two factors, due to the insurance doubling and values going up 25% and consumer inflation increasing substantially. In 2021, we finally got the budget funded well. Then costs skyrocketed and we had to take from the reserves to keep the dues the same during 2022. However, someday, we need to raise the dues to compensate. We decided to do this in increments starting in 2023. The board decided to increase the dues by $55.00/month in 2023, instead of the full $63.00 needed.
Questions:
Q. John asked if the professional property management company is budgeted for 2023.
A. Yes.
Q. Will the PM do an assessment of the grounds?
A. There is an option to get that accomplished with a professional team at an extra charge
Q. What will the board’s role be with a management company?
A. PMI will do the financial and management work and the board will delegate the responsibilities.
Q. What is the management’s company role?
A. We haven’t put together the details, but we are going to let PMI know we would like to hire them and ask them for their help implementing the program. We expect this will take 6 months to completely set everything up.
Q. Will we keep the 2% discount for those paying annually?
A. Yes.
2023 Budget Adoption: The budget is in the initial stages for 2023, we need to approve this initial budget with the caveat that the assessments will not change. Passed.
Slate for new board in 2023: Becky Valthoen, Nan Belknap, Pamm Haglund, Pete Hogue, Yvonne Salfinger, Nipan Karmacharya, John Gaddis, Ronnie LaRue, Susan Novy. Passed.
Adjourned: 12:20
Posted in Minutes 2022 by Susan with no comments yet.
Board Meeting 8/23/22
Board Meeting
8/23/22
5:00 pm @ the Jordan’s
Attendees: Rick & Claudia Jodan, Pete & Linda Hogue, Anne Poznic, Pam Hagland, Susan Novy, Nan Belknap, Becky Valthoen
Zoom: Ronnie LaRue, Nipan Karmacharya
Call to Order: 5:00
Budget Review:
Pete reviewed that we have 3 options to review to choose what gets presented at the Annual Meeting. One is to pay the full amount of insurance increase and property management company now, or to take from the reserves in order to defer the increase throughout a few years. The reasoning for this is that expenses are expected to go down by 2024 as most of the special projects will be finished. Choice one would increase the dues over 2022 by $63/month and keeps the reserves the same. The second choice would increase the dues over 2022 by $27 in 2023, $36 in 2024, then $63 in 2025; and reduces the reserves by $13,000. Choice three will increase the dues $47.00 over 2023 ; and reduces the money coming out of the reserves by $5675. Each year will need to be reviewed and assessed as needed.
So far there is no inflation rate included in any of these plans yet. The flat fees that were figured in 2021 for a 5 year period can’t work any longer due to the unexpected increase in insurance premium and now the outsourced property management, as well.
Ronnie moved to accept the 3rd option, Susan 2nd. After much discussion, the board decided on a $55 increase over 2022 for 2023. Passed 5/3.
Ronnie mentioned that he would like to see more money put into the operations reserve as that’s more liquid. The board agreed.
Slate for the new board: Rick Jordan, Pete Hogue, Pamm Haglund, Susan Novy, Nan Belknap, Ronnie LaRue, Arleta Bell, Nipan Karmacharya, Becky Valthoen, Yvonne Salfinger.
Adjourned: 6:30 pm
Posted in Minutes 2022 by Susan with no comments yet.