Skip to main content

Minutes, Management Committee, Tuesday April 16, 2024

Topics: AED, #6 shed, financials, HOA payments, water damage repairs, status of lawyer fees, CC&R updates, unoccupied units, guest room usage

Present: Joe until 8:20, Kerry, Ben, Kay (notes), Jorge, Victor (until 7:35).  Cheryl is unable to come.  Robin 7:40.

Action Items

Talk to Emily about AED.  Fully or semi-automatic?  Good brands? Local suppliers?

Jorge will get another bid for the drywall.

Ben will send accounting firm contacts to Jorge.  Jorge will call them to ask if they do accounts our size.

AED

Current fundraising total $1884.48.   If it isn't quite enough to purchase an AED Joe will make up the difference. 

Joe has a form completed except for the credit card information.  The AED is $1802.72, cabinet $89, subtotal $1891.72, shipping $129.94, total $2021.66.

Ben found a one for $1660 after a short search.  Look into alternatives?

Storage Unit on #6

Storage unit attached to unit 6 complicates stucco repair/painting.  We don't know how it is attached and how that affects the structure.

Victor says the shed isn't attached, it is free-standing.  He talked to Joel who was okay with it; Vicky told him to bring it to an ACM. He says he brought the plans to an ACM and it was approved.  Management would like a date if possible (the spring they moved in, maybe 2018?) and a copy of the plans.  He will forward the plans.

Financials

Mountain America

  • $4,517.84 checking
  • $24,739.77   money market 
  • $8146.88   mt am 5 cds, 4 *$2036.72 , mature in May
  • $2073.45   1 cd, matures  July
  • $11.13    savings
  • $39,489.07   Mountain America total

UFirst

  • $89,100.28   high yield money market   interest rate 2.5% in March
  • $86,939.34    17 cds.  15 mature in July ~$75K.  Rates are going down.  1 this month. 1 in June.  from 5.25 to 5.55%

CDs now are no more than $5K each.  Jorge would like to propose (1) putting more in the money market, for a bigger cushion, and (2) consolidate CDs for higher amounts/higher interest.

Current plans probably will spend ~$48,500 this year, $50K next.  By the end of the year we will have purchased another $40K of cds at 1 each month.

Money market from an investment company may pay higher interest but isn't insured.  Credit unions are insured.  Vanguard's money market fund is mostly in US securities.

HOA Payments

In February, March & April, money wasn't being pulled for 3 units. Not the unit owners' fault.  Apparently resolved for two but won't know until it works or doesn't in May.  One is still being worked on.

An account that has been past due has been brought up to date.

Water Damage Repairs

Jorge got a bid from the person he knows. 

  • $728.96  bid for Kellie's unit
  • $954.08  bid to repair sitting room sheetrock, not including painting.

The amount is under our big spend limit, 3 bids not required, but would like more.  Ben found another company on KSL.

Roof Doctor completed the work on the chimney for less than their bid.

Jorge & Linda are having QuickBooks issues and haven't completed the first quarter.

Status of Lawyer Fees

Ben & Cheryl both remember that the lawyer said the initial consult wouldn't be no charge.  After about two months a bill came. Ben talked to his office, and he has said he'll waive it.

CC&R Updates

  • Clarify responsibility for deck railings, critters, eaves netting.
  • How much can we charge for non participation and can the amount be in Rules & Regs (more easily revised) rather than CC&R. 
  • Plants attached to building.
  • Reinvestment fee.

Steps: 

  • Finalize our list of changes 
  • give them to lawyer 
  • present at ACM,
  •  vote, approval of 66% of community (not just those present) required
  • file

Hold special meeting.  Tuesday April 23rd at 7:00.

Unoccupied Units

Ben doesn't want Management to be responsible for doing inspections.  Doesn't see what we could do unless we want to charge a fee and pay for inspections, which would probably have to be in the CCR.  Need to treat every unit equally.  Is it equitable to charge a fee for empty units when we don't inspect occupied units?

The court hearing for #19 has been held and the appointed person is coming to get the keys to #19 from Marina.  Would like to ask if the community can clear out useful items rather than them going into a dumpster.  If the locks are changed we need a copy.

Guest Room Usage

Through May, guest rooms have been used 69 nights total.  A couple of units are above 7 nights. Haven't billed yet.

Venmo is only for donations, not guest room fees. Need to figure out how to match donations from guests hosted by Welcoming. If a host is over their seven nights and guests want to pay, they should pay the host and the host pays the Association.

Emailed 4/20/2024.

No Comments
Back to top