December 10, 2012 - Board Meeting

posted Dec 26, 2012, 2:55 PM by peterc@saxonyhoa.org   [ updated Jan 22, 2013, 7:08 PM ]

December 10, 2012 - Board Meeting

 

Saxony Owners Association

Board of Directors Meeting Minutes

December 10th, 2012

Meeting called to Order @7:00 PM

Establishment of Quorum 4 board members present

Approval of November Minutes Approved by board in person

 

Review of Monthly Financials

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

 

Operating Cash                                                                                     $155,855.52

Settlement Funds in Operating                                                             $172,347.24

Insurance Claim – A Building                                                              ($10,000.00)

Petty Cash                                                                                             $250.00

Maintenance Reserves                                                                          $255,482.17

Insurance Reserves                                                                               $34,781.09

Insurance Reserves - FHA Deductible                                                 $9,166.63

Total Cash:                                                                                          $617,882.65

Outstanding Financial Commitments: 

None

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.

-          We’ve completed the Insurance Claim for Building A. The 10k deductible is still unpaid by the homeowner, which shows as a negative 10K in the insurance claim sub-account.

Delinquencies

Current Month                                                                                        $4,795.26

Over 30 days                                                                                          $2,644.61

Over 60 days                                                                                          $2,243.51

Over 90 days                                                                                          $56,863.44

Prepaid Assessments                                                                              $6,666.64

Total Outstanding Balances                                                                   $59,880.18

 Please see the Aged Delinquency Report for greater detail on unpaid balances 

Homeowner’s Forum

1.      D205

a.       Inquired about sale of HOA owned units, money went to operating budget.

b.      Discussed playground cost. Was informed of cost - Approx. $3,500

c.       Wants fix to building entry gates to increase safety and prevent theft.  Informed gates cannot be fixed or replaced at this time.

d.      Inquired about pending construction project. Was informed that scope of work is still being finalized.

2.      Townhome #20 (Tenant)

a.       Discussed delinquent HOA dues collections process.

b.      Inquired about pending construction project. Was informed that scope of work is still being finalized.

 

 

New Business

1.      Board Member Positions

a.       Cece remaining president

b.      Peter to remain VP

c.       Travis to remain Treasurer

d.      Jordan appointed to Secretary

e.       Charity appointed to Member at Large

2.      Construction Project – Condo Building Railing Replacement

a.       Metal vs. wood. Board looking to inform owners affected of final decision either by email or community website.

3.      Parking Issues

a.       Discussed ongoing parking issues and reporting of violations.  Warning letters and possible fines will continue to be issued per Saxony Charter

4.      D205 Water Leak Repairs

a.       Need to get verification from D205 that plumbing has been fixed.

5.      Carpenter Ants / Pest Spray

a.       Willard’s Best bid currently best deal for spraying ants.

b.      Board in process of getting another bid from Pest Free at Peter’s recommendation.

c.       Board will look to get property sprayed for pests around March/April timeframe

6.      Ice Melt Buckets

a.       Some buckets need new lids or replacement. Also, some buckets need new ice melt materials.

b.      Euromaintenance will be instructed to resolve

7.      Euromaintenance Annual Bonus

a.       Based on current performance and past precedent, board motioned to approve a reduced annual bonus in the amount of $500

8.      Garage Leak Repairs

a.       Cement Glue seepage as a result of heavy rains is falling on owner vehicles while parked

b.      Plastic sheets have been placed in some locations to redirect. Still waiting for Charter to cover remaining parking spaces affected by leaking issue.

Meeting Adjourned @ 8:00 PM

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