EPMFHOA Annual Meeting Minutes 7-13-13
Estes Park Mountain Fairways
Homeowners Association
Annual Meeting
7/13/13
Location: Rocky Mountain Park Inn
101 St Vrain
Estes Park, CO 80517
Time: 2:00
Attendees: Charley & Linda Griffin, Pete & Linda Hogue, Susan Novy, Ray & Joan Novy, Gary & Dee Dougherty, Aaron Voboril, John & Sally Gaddis, Ron & Pat Meskimen, Don & Barbara Dobson, Maria Gomez, Pamm Haglund, Arleta Bell, Jerry & Phyllis Haight, BW Dykes
Proxies:Â Nelson & Brown given to Haight, Yoblin given to Griffin, Bouziden & Baker given to Dykes, Evans given to Gaddis & Miller given to Ray & Joan Novy
Call To Order: 2:11 p.m.
Introductions: Introductions were made of those present with their address and whether they are full or part-time residents.
We currently have 2 pending contracts on units.
Remembrances:Â In the last year we have had 3 deaths in the association: Lois & Ed Weaver, Frank Kjeldgaard, and Patty Kice
Approval of 2012 Annual Meeting Minutes : Charley made motion to approve minutes, seconded by John Gaddis; approved.
Presidents Report: Acknowledgement of leaving board members Ron Meskimen and Aaron Voboril for their dedication to the association. Ron for making sure all mailings get to the proper person/account and Aaron for his extensive help with the landscaping and sprinkler system.
Secretary’s Report: Website is in constant improvement.
Treasurer’s Report: Linda, treasurer, gave explanation of Profit & Loss Budget Performance handout. Water entry will change next month to a more accurate comparison to the budget, repairs entry is high compared to budget because we’ve had a lot of repairs & trash entry is high due to fluctuating environmental charges.
Pete ,the Chairman of Financial Committee, gave explanation of how we operate. We included an operating reserve and reserve fund in our budget. We made a loan to ourselves $10,500.00 from the operating reserve to the Reserve Fund in order to make expenses for our high repair needs. We also added a new line item “ net assets- operating reserve” to show the balance of what we borrowed.
Jerry Haight is displeased with what he perceives to be the complicated way in which we’re presenting the financials. After a lengthy discussion, Pete invited Jerry to meet with him to review the process for improvements.
John Gaddis offered some history since they became owners a few years ago. He was surprised at the organization. We used to have a professional manager, which we, the new board, decided could be phased out since we have plenty of capable volunteers to do the job. We have since upgraded the way the financials and information is dispersed. Anyone with expertise in these areas is welcome to join the board and committees.
Further discussion should be handled individually with new board.
Jerry asked what is the target reserve amount we want to keep in order to have adequate monies to operate. Charley answered that we don’t have a set amount because we don’t know all the repairs needed yet. The fact that we even have reserves with repair schedules is new to this HOA within the last couple of years. The Reserve Fund budget is definitely a work in progress.
New Business: Pete gave explanation of the emailed budget worksheet to explain the reason for the requested increase in assessments (dues). We’ve never been in the financial position to have targets. The reserve funds have been recently created in order to create some targets for reserves, such as: painting schedule, projects reserve (changeable according to needs) & roof reserves. There have been unexpected additions to the painting schedule with needed siding repairs; and with the roof reserve where the flashing around the skylights isn’t up to our high wind needs.
The committee has tried to come up with a 10 year reserve plan to target our monies towards a balanced budget and determine our true needs without gross fluctuations. For example, the flashing project in the roof reserves is spread out over 4-6 years, instead of an immediate assessment. Maria Gomez asked if we have any recourse. Pete answered that we’re past the recourse time. We will need to handle this ourselves.
Pete suggested we move forward. Don asked about when the siding for painting is going to be done. Charley and Pete answered that the money is reserved, but we need to work with the vendor, who is having sub-contractor problems and hence scheduling has been an issue. Painting can’t be done until the siding is repaired. We’re working with contractors we trust and if any of the membership knows of other contractors, the board is willing to accept other bids and compare.
Charley motioned that we approve the 2014 budget and increased assessment. Maria seconded.
John added to the discussion stating that our assessments have always seemed controversial because they seem high compared to other associations. However, we collectively pay for more line items than other associations which make us seem higher. We need to realistically recognize that we have old units which are consistently needing more repairs.
Don thinks the budget needs to cover the increasing repair needs and get things done promptly.
Linda called the question to vote on the assessment and 2014 budget.
14 in favor, 5 opposed. Passed.
Election of Board:
Those who have agreed to be on the board of directors: Charley Griffin, Linda Hogue, John Gaddis, Susan Novy, Pam Haglund, Arleta Bell, Joe Evans & Gary Dougherty.
Pete motioned to accept slate, John seconded. Passed.
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Old Business:
Volunteers needed for the committees: Finance Committee, Business Practices Committee (rules & regs)Â &Buildings & Grounds Committee. If you have an interest in these areas, please contact a board member.
The new board will vote on the re-organization of the rules and regulations with a new format. The content will remain the same.
Phyllis stated that she’s not satisfied with the landscaping company.
Don is not satisfied with the schedule for resurfacing the driveways, as both sides weren’t done at the same time. He would like us to get more repairs done more promptly. Charley responded that the resurfacing is in the budgeted schedule as stated in previous minutes. We can’t afford a highly fluctuating budget with all the repairs addressed at once, so schedules were made.
Motion to Adjourn: Charley motioned to adjourn. Seconded by everyone else. Adjourned at 3:40 p.m.
Respectfully Submitted,
Susan Novy
Secretary
Posted in MINUTES - All approved motions are in bold italics. Click on blue title for individual post., Minutes 2013 by Susan with comments disabled.