Saxony Owners Association Board of Directors Meeting Minutes September 10th, 2012
Meeting called to Order @7:03 PM Establishment of Quorum 4 board members present Approval of June Minutes Approved via email
Review of Monthly Financials
As of the end of August, the Association had the following funds:
Operating Cash $124,469.49 Settlement Funds in Operating $184,776.79 Insurance Claim – A Building $16,098.69 Petty Cash $250.00 Maintenance Reserves $240,410.22 Insurance Reserves $27,100.47 Insurance Reserves - FHA Deductible $6667.64 Total Cash: $599,772.30
Outstanding Financial Commitments:
$17,122.01 Maintco Inc.
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 $14,578.82 Over 30 days $3,104.59 Over 60 days $2,504.63 Over 90 days $39,219.76 Prepaid Assessments $6,322.63 Total Outstanding Balances $59,765.88
Please see the Aged Delinquency Report for greater detail on unpaid balances
Due Process hearing Ø Jesse Prescod – postponed, not in attendance
Homeowner’s Forum 1. D102 a. Concerns about water damage - will schedule separate meeting to discuss further b. Trash in parking spot does not belong to homeowner or tenant 2. A105 a. Needs to know storage space – Michelle will provide b. New owner wants to paint ledge
New Business
1. 2013 Budget a. will be reviewed during executive session 2. Sprinklers malfunctioning a. relays are bad b. a couple thousand $ to fix 3. Missing door handle, building E (1st floor) a. need to confirm which door is missing a handle b. Cece will contact Lori to confirm 4. Carpenter Ants on property a. found around bldg G and possibly bldg E b. will get a bid for spraying for carpenter ants for the whole property 5. Play area safety concerns – a. Homeowner concerned slide is too close to post b. Peter will anchor down slide and will install outdoor play mat to slow down sliding 6. Upcoming Saxony board member changes – a. Michelle moving out-of-state b. Page moved to Seattle c. Will try to get replacements during elections in November
Ongoing Projects
1. Website – People still having trouble with links a. Peter check and found bad link out of 15 and has fixed it 2. Property Walk Through Schedules a. Board members signed up for weekly property walkthoughs 3. Problem with smoke/cigarette butts in bldg G a. post a metal no smoking sign listing fines? 4. Collections Update a. Awaiting update from Condolaw Meeting Adjourned @ 8:01 PM
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