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.
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