September 10th, 2012 - Board Meeting

posted Sep 17, 2012, 2:25 PM by peterc@saxonyhoa.org

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