May 13, 2013 - Board Meeting

posted Jul 9, 2013, 12:23 AM by peterc@saxonyhoa.org

Saxony Owners Association

Board of Directors Meeting Minutes

May 13, 2013

Meeting called to Order @7:10 PM

Establishment of Quorum: 5 board members present

Approval of April Minutes: Board voted to approve minutes.

 

Review of Monthly Financials

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


Operating Cash                                                                                     $137,458.38

Settlement Funds in Operating                                                             $134,495.23

Insurance Claim – A Building                                                              ($10,000.00)

Petty Cash                                                                                             $250.00

Maintenance Reserves                                                                          $312,214.57

Insurance Reserves                                                                               $2,890.75

Insurance Reserves - FHA Deductible                                                 $13,333.32

Total Cash:                                                                                          $590,642.25

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.

  • HOA insurance premium was paid in full this month.

Delinquencies

Current Month                                                                                       $8,064.16

Over 30 days                                                                                          $5,234.48

Over 60 days                                                                                          $5,080.55

Over 90 days                                                                                          $66,754.13

Prepaid Assessments                                                                              $7,245.67

Total Outstanding Balances                                                                   $77,887.65

Homeowner’s Forum

  1. Karen Park in G building wants to remind residents that many residents will have windows open in the evenings and to keep conversations and noise to a minimum as nearby residents will overhear it.

  2. Tyler in D building asked why the plants in the planter boxes were removed. This is due to the upcoming construction project.

  3. D-206 requested a remote conference call for HOA meetings. The HOA is unsure if this is something we are setup to do. Patrick will look into it.

New Business

  1. The board approved and ratified the following:

    1. SGA invoice #20110639 in the amount of $5262.92.

  2. Cece signed the REMCO letter of intent.

  3. The board requested clarification on the programmable lock model to be installed in the Cabana. Patrick will clarify this with the locksmith.

  4. The board will send out an informational email to residents to see if they would like to have a summer garage sale this year and try to confirm a date.

  5. The garage entrance gutter drain is still broken. Patrick will get estimates to repair it.

  6. The cabana garbage disposal is not working. Sulio will be notified to fix the disposal.

  7. In regards to the sewer lift station, the HOA is considering drafting a letter to send to the City of Sammamish when there is an odor present. Shurco will handle drafting this letter.

  8. The HOA tax return has been signed by Travis, HOA Treasurer.

  9. Cece will sign the letter for moving the settlement funds to Foundation Bank.

Ongoing Projects

  1. The website has been updated with the most recent minutes according to Peter. Peter will place a notice on the site that the HOA does not have any control over units for rent and that possible renters should contact unit owners directly. Also, there will be a notice for residents with available parking spaces stating that they are allowed to rent these out.

  2. The newsletter is nearly ready to publish. Cece will be adding to it before the final publishing.

  3. The Kiosk will be getting a few new signs with additional information for residents.

  4. The storage room locks will likely need to be rekeyed as the HOA cannot locate a key to open these units. Jordan will contact a locksmith if necessary.

Meeting Adjourned @ 8:06


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