Minutes 1/26/19
EPMFHOA 2019 Board Meeting
1/26/19
4:30 at Rick’s 1433
Attendees: Susan Novy, Carol Prince, Rick & Claudia Jordan, Kathy Beatty, Elen Crone, Sherry Reilly, Dave & Ann Poznic, Nan Belkamp, Diane Yoblin
By phone: Pete & Linda Hogue
Call to Order: 4:30
Approval of minutes from 10/21/18: Linda moves to accept minutes, Kathy 2nds. Passed.
Email Vote on 3K moving from the projects reserve to the paint reserve and that we close out the roof replacement project by moving the remaining $625.26 to the roof reserve account. The project finances are fully complete. This vote was unanimously approved by the board
Treasurer’s Report:
FINANCIALS
December 2018 year-end financials are available on the website.
MONTHLY ASSESSMENTS
The owner who is on a payment plan paid her December assessments in January, but has not paid for January yet.
We have had 18 owners pay annually this year, the highest percentage of owners since I have been on the Board (since 2015). One owner paid quarterly.
BAD NEWS
We ended 2018 in a poor cash situation. Pete will be discussing this later in his Finance Team report, and see the figures below.
GOOD NEWS
Please welcome Nan Belknap to the Finance Team. Thank you, Nan, for volunteering!
The Finance Team (especially Anne, Nan, and Carol from B&G) is working with B & G on adding “projects” and “project estimates” to the Quickbooks database to help B & G better manage the larger repair and replacement type reserve expenses.
SHOW US THE MONEY!
As of today (01/24/2018), our cash on hand in bank accounts is:
• Checking account $80,430.73
• Reserve Savings $13,751.87
• Regular Savings $7,655.97
Total $101,838.57
These figures do not include any checks or deposits which have not cleared the bank. We expect the month-end checking account to be approximately $6,500.00 less, taking our total cash on hand to about $95,000.00. For comparison, we had a total of $163,140.38 at month-end in January last year.
NEW BUSINESS
The Finance Team will be looking into the pros and cons for investing some of our Reserve Fund monies into CDs so that we get a better return. Thank you, Ronnie LaRue, for doing some of the initial investigation on this.
Respectfully submitted,
Kathy Beatty
Treasurer
Linda moves to approve the treasurer’s report, Susan 2nds. Passed.
Reserve Fund: the finance team revised the 2019 approved reserve account from the 2018 annual meeting. The bottom line is the same, but some of the line items have changed to due the current buildings & grounds projects. Kathy moved to accept the revision, Rick 2nd, Passed.
The 2019 Budget: the finance team revised it once they had the 2018 year-end actual budget. Kathy moved to approve the revised 2019 budget, Linda 2nd. Passed.
2019 Expense Authorities Documentation: This report documents who is responsible to whom for expenses. Linda moved to accept the documentation, Kathy 2nd. Passed. There was discussion as to where this type of board procedural documentation should be saved. One option is the Policies and Procedures documentation. The decision was deferred until later. Just don’t loose it!
Buildings & Grounds Reports:
Property Asset Manager: Linda moved that Carol Prince be approved as Property Asset Manager for 2019 and on, Kathy 2nd. Passed.
Carol would like handle business on a contract manner, with contractors having a business license, worker’s comp and a W-9.
Dodson Deck: Carol came in half way on this project. One of the difficulties with the project was the quote was only for the HOA portion instead the entire project. So we were not given all the information. The deck is now officially done.
Brown, Jordan, and LaRue’s decks: the structure of the decks are delaminating and rotting. Carol is getting an engineer to look at this.
Unit 1447 fire: we have a contractor meeting with the insurance adjuster. The bids have come in a little higher than the initial 9K the insurance adjuster came up with. The adjuster said when we decide on the final bid, they will work with us.
Dumpsters: we removed the locks and put a laminated sign stating for HOA use only. We only seem to need one pick up on Tuesdays in the winter.
Work Order Form: Buildings & Grounds will update the form and submit the revision to the board.
B&G 2019 priorities: As presented by Carol Prince
Proposed Mountain Fairways HOA projects 2019
Note: These projects are the results of several rounds of visiting our condos,
1 At least three site visits to each condo
2 Taking notes on all condo repairs/maintenance issues
3 Taking notes on all grounds/drainage repairs / maintenance issues
4 Meeting several times to review our findings and identify “safety first” projects
5 Safety First projects shall be done first
Safety First Projects include
Decks
1 1433: Replace infrastructure of back deck:
Deteriorated infrastructure made this desk the first candidate. When the decks of 1443 and 1441 were
replaced this past summer, we faced the real condition some of these decks were in.
ALL of the Brodie decks were then scrutinized and second opinions were solicited.
Engineer David Bangs, PE, as well experienced builder Michael Ferrante have provided their
professional opinions. We need to replace the infrastructure this year.
After careful scrutiny this deck, along with the 1435 deck, became the first of our safety first replacement
projects.
2 1435: Replace infrastructure of back deck:
Along with the 1443 deck, this deck is recommended for infrastructure replacement.
The aging trusses have severely deteriorated. As in the case of 1433, and consistent with the advice
of our Engineer and Builder, we have made this at the top of our Safety first replacment projects.
3 1422: Replace back deck as originally build:
This deck has a compromised infrastructure, railings and decking. It is a small deck and will be
quickly and easily replaced at the same time the Brodie decks are being upgraded.
It too has been carefully evaluated and becomes our second “Safety First Replacement Priojects”
4 There will be others which need some decking work done, replacing deck boards as necessary.
We have not identified any as yet but we will need to visit decks when there is no snow.
Most other railings are doing fairly well to very well. We will treat safety
This year we are NOT seeking to replace anything unless it rises to a level of NEED, SAFETY.
Foundations
1438: Bulging back foundation
Bulging foundations are a critical warning sign. We are paying attention. We will be fixing this foundation
on the south side. Aaron has offered to do this project in the same fashion that he rectified his own bulging
foundation.
Along with the plan, we also have to address the cause of this problem. It is moisture.
We will be moving the sprinkler system out from the foundation, creating a drainage/stone area in the
drainage and monitoring this area and the foundation for further external water incursion.
Create drainage and move sprinklers
1440: Bulging back foundation
This wooden foundation has the same problem from external water incursion as 1438. It needs our
immediate attention.
Aaron has offered to head this project up along with 1438.
To resolve the external moisture incursion we will be creating the appropriate drainage away from the
foundation, moving sprinklers out from the foundation and filling the drainage area with 2″ stone.
Foundation Preservation Projects
In the Spring (April) we will ascertain which crawl spaces are effected by excessive moisture
1453: Moisture in basement corner has been reported. Armed with a hygrometer, several of us will be
visiting all suspect/reported crawl spaces.
External water incursion is the likely culprit in this case and we will need to reform the burm in the back of
this unit so that drainage is AWAY from the foundation instead of into it.
1444: Water in crawl space reported. There is aparent external water incursion in this crawl space.
We will explore the crawl space, identify the area(s) effected and mitigate the drainage issue(s).
Again, if YOU have any crawl space moisture issues, created by an external water incursion, PLEASE
email / call us and we will consider your crawl space a first priority along with the above projects.
New Business:
The board was to review the legal documents of the HOA for discussion. This was moved to the next board meeting. The board meeting date and place have not been determined.
Adjourned: 6:05
Posted in Minutes 2019 by Susan with no comments yet.
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