Board Meeting Report for July 9, 2024
As promised, I attended the board meeting on July 9, 2024. The first page of the agenda can be found in that tab for FOSM Meeting Agendas. Here are my takeaways.
Treasurer Report – The Treasurer reported that our operating account is “finally” positive. However, the fact that the board approved a transfer of $50,000 dollars from the Reserve Account into the Operating Account during the May 2024 Board Meeting was left out of the report and is the only explanation as to why the operating account has a larger positive balance. That transfer brought the reserve account balance in the WF First Clearing CD to $4,272.15 on 5/31/2024. This money was transferred out of a CD and the Treasurer did not reveal the cost of transferring money out of a CD.
The Treasurer also discussed purchasing a transformer. The prior board discussed purchasing a backup transformer over the last two years citing how disastrous it would be if one failed without a backup on the property. That board also experienced a lot of grief from some residents for even discussing it. Now, I am unclear as to what circumstances have changed that would allow the purchase of a transformer except that the board members have changed. Referring to improved finances would be erroneous since the HOA dues increase didn’t start until 7/1/24 and the financial reports available to the board are only for the period ending 5/31/24.
Lastly, the Treasurer stated that the CC&Rs would be put forward for a third and “final” vote. He reported that the attorney added a few more updates to those that she and I had already made during the two previous years on this project. This has been an expensive and necessary task since the last update was in 2015 and so many laws have changed since then. These documents must be approved by owners with 67% of the owners voting for it, which means we have to have 83 people vote “YES” to approve. Both of the last two votes sent out by the previous board stalled because of a lack of a quorum. I can not express enough that we all need to send in ballots and vote to approve so that our HOA is operating under current laws. Once the CC&Rs are approved, the Bylaws can be updated without a vote as long as those changes are only to update regulatory requirements and correct punctuation/grammar. Additionally, it was reported that printing costs would be around $2000. The Treasurer was not clear if the $2000 included postage for printing and postage to mail these documents and the ballots. Also, the board plans on providing a three-ring binder to hold the documents for all homeowners, but again it was not clear if the cost of binders was included in the price of printing. However, these documents will be available electronically on this website and on PK Management’s website once approved by the owners.
Architectural and Landscape Report – There was no report as I had resigned before the recall ballot count and the Board has not appointed a replacement.
Maintenance Report – The roads have been completed by now. Please report any deficiencies that you observe to George so he can deal with Eagle Paving. The remainder of the report was included in the agenda.
Security Report – Nothing to report.
Recreation Report – *The Recreation petty cash fund has $1,064.15, with $246.26 collected this month. Almost all of those funds are acquired through recycling our cans and plastic bottles. Be sure to set your recycles out Tuesday morning so our volunteers can collect and sort them. *A motion was made to move the filtered water cooler to the maintenance office for employees. Maintenance Director commented that was a good idea and would save the HOA money spent on bottled water. The motion passed unanimously. *The recreation calendar was discussed. August events are already posted on the website. Don’t forget to reach out to Judy Bowen if you would like to attend the Jimmy & Enrique concert in August. Also, the Recreation Director met with volunteers afterward to brainstorm for future events. Events will be posted online as they are announced.
President Report – The President announced the next meeting will be held on 8/13/24 @ 3:30 PM. The Board was dismissed to go to an executive session to discuss a new contract and member discipline.
