July 9th, 2012 - Board Meeting

posted Jul 26, 2012, 9:27 AM by peterc@saxonyhoa.org   [ updated Jul 26, 2012, 9:28 AM ]

Saxony Owners Association

Board of Directors Meeting Minutes

July 9th, 2012

Meeting called to Order @7:06 PM
Establishment of Quorum 3 board members present
Approval of June Minutes Approved via email

Review of Monthly Financials

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

Operating Cash                          $142,091.11
Settlement Funds in Operating                    $191,035.65
Petty Cash                            $250.00
Maintenance Reserves                        $230,367.15
Insurance Reserves                        $21,982.95
Insurance Reserves - FHA Deductible                $4,999.98
Total Cash:                             $590,726.84

Outstanding Financial Commitments:

$341.64 Rooftech Services, Inc.

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 have moved a 2011 Legal Expense from #6311 - Legal Fees for Collections to

#631 1-001  Legal Fees for Collections - 2011 in order to most accurately reconcile Legal Expenses
against Legal Income.

We have re-classed the 2012 charges for fines from #4698 - Misc. Income to #4665 - Violations/Fines
to reflect a more accurate breakdown of Other Income

We have split out Reserve Interest Income from Operating Interest Income. Operating Interest
will remain in #4705, and Reserve Interest will now be in account #4710.

Current Month                             $4,031.70
Over 30 days                             $4,068.12
Over 60 days                             $3,398.85
Over 90 days                             $39,219.76
Prepaid Assessments                         $6,433.032
Total Outstanding Balances                     $44,285.40

Homeowner’s Forum

  1. Cigarette butt problems at G building foyer
    1. Post a no smoking sign near foyer?
    2. Nothing can be done about smoking on balconys
  2. Fan running in unit F204

    1. Warning sent to owner
    2. Marcel will check with owner

  1. Due Process Hearing F205
    1. Noise complaint F205
    2. Child crying at night
    3. Loud music which has stopped
    4. Occupants exchanged phone numbers and will try to work it out
    5. Defer fine for 60 days, if there is another violation within 60 days then fine is reinstated plus additional fine

New Business

  1. Real estate agent calls
    1. Marcel has been inundated with calls from real estate agents asking about Saxony
    2. Board agreed to assist with answering calls
    3. Peter set up a Google number
    4. Chosen numbers can be forwarded directly to cell phones
    5. Unknown numbers will go straight to voicemail
    6. Refer agents to condo certs to order condo questionnaire or condo resale certificate
    7. Board members to send Peter their phone numbers
    8. Do not trust the text received in the google voicemail email – usually way off
  2. Building  A insurance claim and repairs
    1. Everything moving forward as it should
    2. Occupants are currently able to stay in their condos

Ongoing Projects

  1. Website Update - Peter
    1. Website ready to go (www.saxonyhoa.org)
    2. Can email minutes to website and they will be posted
    3. Financial statements can be posted in private area
    4. Ability to send email notifications through website
      1. Currently 116 contacts in email list
    5. Users can choose if they want to go paperless
    6. Google cabana calendar is on website
    7. Can create another calendar for board members
    8. Different sections of website for general public, homeowners, board members
  2. Bark, Pond, Gregs bids, outstanding actions?
    1. Bark - approved $2,500 and it’s currently being done
      1. Marcel will check with Greg’s regarding completion date
    2. Pond – euromaintance charges about $12/month to maintain
      1. Cost to turn pond into planter would be expensive – we don’t want any drilling done
      2. Just drain it and cap it?
      3. Make it a zen garden?
    3. Bushes between building G and irrigation shed need to be trimmed – Marcel will talk to Greg
    4. Greg’s should be picking up trash – Marcel will talk to him,
    5. $2,500 more to spend this year on colored plants
      1. use $ to replace dead shrubs that were removed instead?
  3. New Playstructure
    1. looking at replacing play structure due to safety concerns and have approved a cost of $5,000 out of operating expenses to use for new structure.
    2. Current structure has rusty screws
    3. Current structure insurance no longer good because it is over 10 years old
Meeting Adjourned @ 8:30 PM