January 14th, 2013 - Board Meeting

posted Feb 11, 2013, 7:37 PM by peterc@saxonyhoa.org

Saxony Owners Association

Board of Directors Meeting Minutes

January 14, 2013

Meeting called to Order @7:11 PM
Establishment of Quorum: 4 board members present
Approval of December Minutes: Approved by board via email.
Review of Monthly Financials
As of the end of December, the Association had the following funds:

Operating Cash                                                                                     $153,727.39
Settlement Funds in Operating                                                             $162,018.70
Insurance Claim – A Building                                                              ($10,000.00)
Petty Cash                                                                                             $250.00
Maintenance Reserves                                                                          $260,506.98
Insurance Reserves                                                                               $37,342.32
Insurance Reserves - FHA Deductible                                                 $10,000.00
Total Cash:                                                                                          $613,845.39
Outstanding Financial Commitments: 
$1,118.51, Accounts Payable

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.
Current Month                                                                                        $4,893.12
Over 30 days                                                                                          $3,615.68
Over 60 days                                                                                          $2,066.92
Over 90 days                                                                                          $58,234.35
Prepaid Assessments                                                                              $6,753.12
Total Outstanding Balances                                                                   $62,056.95
 Please see the Aged Delinquency Report for greater detail on unpaid balances 
Homeowner’s Forum
  1. C303 owner was unable to attend tonight’s meeting, but has been given the opportunity to attend in February.
New Business
  1. Per Marcel, the association needs to review governing documents to ensure the association can get a loan for the pending assessment.
  2. Winter Newsletter
    1. Suggestions to add to newsletter are, parking, a pet reminder, and the homeowner’s obligation to have homeowners insurance. Release date, to be in the next couple weeks.
  3. Unit 21, Babich
    1. Sold at sheriff sale. Will need to have the locks changed. NO ACTION REQUIRED AT THIS TIME.
  4. Saxony Security Issues
    1. We should change the codes to the garage gate & cabana door. The Cabana we can change the code manually each time a rental occurs. The garage gate code needs to change monthly. We will look into how to change this code. Peter wants to get an electronic lock for the cabana front door.
Ongoing Projects
  1. George Singer needs to inspect unit decks for the upcoming construction project. These are on track for inspection on January 28th. All of C, D, and E first floor units will need their decks to be inspected. Other decks around the complex will be spot checked.
  2. D102 update, no work has been done. Still waiting on updates.
  3. Garage gate update. Davis Door Service replaced pulley, sensor, and cord.
  4. Gutter Cleaning - Approved gutter cleaning from Roof Tech at $575, per multifamily building without moss treatment. Also, approved the cleaning of gutters on all townhomes at $75 each.
  5. Pest Control Bids - Sprague will spray perimeter monthly for aunts at $380. They will also spray buildings 10 at a time, each being treated 3 times a year. Willard’s, $600 for initial service, then $200 per month, 1/3 of the property each month. Bait stations recommended, $540 initial setup, and $180 per month. Pest Free, $40 each per townhome quarterly, multi-family buildings $79 per quarter. We are waiting on clarification of the bid from Pest Free. We will then decide which company to go with.
  6. Electrical and lighting in the HOA storage areas within the garage will be inspected due to non-working lights.
Meeting Adjourned @ 8:44 PM