ACM minutes Wed Nov 8, 2023

Topics: 

Present: Eliza (fac), Linda, Ben, Kerry, Larraine, Hannah, Michael, Emily, Lynda, Starla, Kay, Laura, Vin, Tobie, Lila, Joe, Cyd?

Exercise: choose an adjective that alliterates with your name. Pick a partner and tell them. The partner should try to figure out what you mean by it.  Trade off.

Conflict Support

Handouts: graph of importance of issue vs. importance of relationship. low I, low R avoidance, high R low I accommodation, high I low R competition, high I high R collaboration, compromise in the center. Ladder of inference: make observations, select data among what I observe, add meanings, make assumptions based on meanings, draw conclusions, adopt beliefs about the world, take actions based on my beliefs.  Reflective loop, my beliefs affect what data I select next time.

Reserve Fund and Operational Budget

A reserve analysis determines the amount of money needed in reserve funds.  Reserve funds cover the cost of repairing, replacing, or restoring common areas and facilities that have a useful life of three years or more and a remaining useful life of less than 30 years, if the cost cannot reasonably be funded from the general budget or other funds.

Reserve funds can only be used for the items included in the analysis unless approved by a majority 67% of the members of the association of unit owners.  May be used for daily maintenance only if approved by a majority of members or if there is a shortfall. Do analysis no less frequently than every six years, review & update no less frequently than every three years.

Almost 62% of HOA fees is going into the reserve.  ~$153K balance.  The most recent analysis assumes 4% inflation.

Vinnie is working with Dale to update the analysis, adding things we've noticed are deteriorating faster than anticipated and removing items we think we can make last longer.  Dale does a site visit and gives us a questionnaire on what we've done.  Costs about $2500.