EPMFHOA 8/27/16 Board Meeting Minutes
EPMFHOA BOARD MEETING 08-27-16
Attendees: Pete & Linda Hogue, Pamm Haglund, Tim Dawson, Kathy Beatty, Elen Crone, Rick Jordan, Arkie Vaughn, Jerry & Phyllis Haight, Chris Metzger, Susan Novy, John Gaddis, Aaron Voboril
Approval of 07/30/16 minutes: approved.
President’s Report: Summarized what we should try to accomplish during the next year.
Update covenants and by-laws
Update rules and regulations
Bridge maintenance
Committee Reports:
Buildings & Grounds: We are now on a month to month contract with Waste Management at a lesser cost than before. Waste Management is being very accommodating due to customer’s leaving due to bear-proof heavy dumpster lids.
Work order form: most recent is on the website. It seems that it’s working. We’ve received 2 requests. Pamm proposes that buildings & grounds approve your licensed contractor, should there be one. Board agreed to this due to our lack of architectural guidelines.
Bridges & Decking: B&G proposes that original material replacement is the HOA’s expense. However, should there be new different materials for decking or bridges by owner, the owner may need to pay more dues for extra long term maintenance. No decision was made, just the issue presented. B&G will set precedent as to what composite can be used.
Painting: B&G would like to add 4 golf course units to the inner circle units for paint this year, provided there is money.
House Number Upgrade: B&G wants to make the house numbers more visible
Financial Committee: the website is completely updated with the financials. It is password protected.
There’s a 5 year review on the reserve plan. At the owner’s meeting we will go over the Overview Approach and HOA reserve document.
It’s time for our 2 year review team, with proposed committee:Gary Dougherty, Rick Jordan, Pamm Haglund and Arkie Vaughn, to review our financials. Motion was made to accept the proposed review team and process. Approved.
2016 Expense Authority approval: who has the authority to spend the money. We need to see it first before voting.
Funding Source for previously approved 1410 & 1422 drainage project. Motion made to repurpose money for drainage project. Approved.
Cash Reconciliation: The new Cash Reconciliation and Quick Books check register were made available for review.
Website: what should or shouldn’t be on the site. The finance team will make a recommendation and presentation to the board.
Long Range Committee:
Wants to do some research on xeroscape, or anything to reduce our water bills or landscaping.
Community Committee: we don’t know about the next gathering. Volunteers?
Business Practices: We went over the packet. Rules apply to the owners, policies apply to the board. The initial set of policies was reviewed and updated by the Policies Team and presented to the board. Motion was made to accept it. Approved.
Website possibilities reviewed. Business practices team will present what they feel should be on the website.
New Business:
How to deal with requests for our financial ledger. Part of the process is determining what goes on the website. John Gaddis has concern over confidentiality of payment of dues and whether that should be kept private. Under Colorado law the reports that we provide are what owner’s are entitled to. Typically, the general ledger isn’t available.
There have been requests from three homeowners for additional financial information with two homeowners formally requesting access to the Association’s Quick Books general ledger program. The Association’s policy is to not allow that program to be given out to members due to confidentiality concerns regarding payment histories, checking account information and other private data relating to our owners. The Board’s decision was to wait until the Financial Team Review is completed in approximately 30 days, before determining whether to release that confidential information or not. One Owner, Jerry Haight read a statement regarding his rationale for his request. A copy of that statement was given to the Board’s Secretary.
John Gaddis commented that our Association is a small 30 home HOA and it is essentially an all-volunteer organization. Because we ask our members to do all of our billing, collecting and accounting, and because we are on a cash basis accounting as opposed to accrual  basis accounting, we do not strictly follow GAAP. However, our financial review teams is looking at our overall accounting as well.
A motion was made to let the Financial Review Team address these issues and report back to the Board in approximately 30 days. Approved.
John Gaddis commented that this HOA intentionally does not follow the “accepted accounting principals” due to the high cost and complexity. For an association of only 30 units we feel we have abundant financial records that are adequate.
Motion was made to let the financial review team add this to their review and make a presentation within 30 days. Approved.
Motion to Adjourn: Passed. 3:00
Posted in Minutes 2016 by Susan with comments disabled.