April 17, 2013 - Board Meeting

posted Jul 9, 2013, 12:21 AM by peterc@saxonyhoa.org

Saxony Owners Association

Board of Directors Meeting Minutes

April 17, 2013

Meeting called to Order @7:02 PM

Establishment of Quorum: 4 board members present

Approval of March Minutes: Approved by board via email.

 

Review of Monthly Financials

As of the end of March, the Association had the following funds:


Operating Cash                                                                                     $140,128.48

Settlement Funds in Operating                                                             $156,836.05

Insurance Claim – A Building                                                              ($10,000.00)

Petty Cash                                                                                             $250.00

Maintenance Reserves                                                                          $299,282.91

Insurance Reserves                                                                               $15,028.83

Insurance Reserves - FHA Deductible                                                 $12,499.99

Total Cash:                                                                                          $644,026.26

Outstanding Financial Commitments: 

$2,020.66 – Charter Construction

$100.00 – Suhrco Residential


Items of Note

  • The Board still needs to open a money market account for the Construction Defect Settlement funds, but we understand that this is being postponed until a loan has been secured so that the funds can be moved to the same bank.

Delinquencies

Current Month                                                                                       $6,951.42

Over 30 days                                                                                          $6,753.07

Over 60 days                                                                                          $3,611.46

Over 90 days                                                                                          $65,189.53

Prepaid Assessments                                                                              $6,295.08

Total Outstanding Balances                                                                   $76,211.40

Homeowner’s Forum

  1. Unit 19, inquired about colored dots which had been placed on various townhome units garage doors. It was decided that these were related to the newspaper delivery these homes receive.

New Business

  1. The board approved and ratified the following:

    1. The invoice for work provided by SGA

    2. Transfer of money from the insurance reserves to pay for the HOA insurance renewal

    3. Payment of Charter Construction invoices

Ongoing Projects

  1. Greg’s has not been picking up cigarette butts next to the east side of the B building. It is unclear if this falls under Greg’s duties or the Euromaintenance.

  2. The grass behind both F and G buildings is very tall and needs trimming. Greg’s will be notified about this.

  3. Locks on the cabana need to be replaced. The board is looking at direct cost from a locksmith.

Meeting Adjourned @ 7:50 PM


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