Minutes, Management Committee, Tuesday May 21, 2024

Topics: broken dryer, common swamp coolers, roofs, unit 19 estate sale, fund-raising garage sale, key lockbox, QuickBooks & bookkeeping, budget planning

Present: Jorge, Kay (notes), Kerry, Ben, Larraine

Decision:  Pay for several months help for QuickBooks.

Action Items

• Jorge will ask Coleman to do the common building swamp coolers.
• Jorge will send the owner unit sales letter to Carol.
• Laraine will send a link for the Heartwood budget webchat.
• Ben will check whether we can change the lock on the keybox.
• Ben will change the email the maintenance form reports to.
• Ben will tell Alex that Management will look into the roofs and warranties.
  
• Kay will change the inner office door code.

Broken Dryer

The Kenmore dryer doesn't heat at all.  It's been broken for about a month.  Ben it reported April 13 on the maintenance form, but apparently that doesn't go to the maintenance list. 

The cages of the dryer vents need to be cleaned more often.  Jorge thinks the households that use the dryer ought to be responsible for that; there's a ladder in the east hall.

Swamp Coolers, Common House & Workshop

Hire Coleman to open swamp coolers on common buildings, $140 each.

Roofs

Alex reports that the south-facing shingles are looking aged.  Chris suggested to her it make sense to replace the whole roof rather than just patch the swamp cooler hole.  The roofs should have a 25-year warranty.  Chris from Roof Doctor is out of town.

Key Lockbox

Change the door code for the inner office.  Have we gotten all lockbox keys from prior Management members?  In the minutes for the first Management meeting after the election, record who has turned in their lockbox keys and who they went to.  If we change the lockbox lock we don't need to worry about who has the old keys.  If necessary can replace the whole lockbox.

Reminder of policy:  When taking a key from the lockbox, check it out and back in.  If entering in the owner's absence, it must be an emergency only, and there is a form to fill out and leave for the owner.

#19 Update

The house will be open 10:00 a.m. to 2:00 p.m. Thursday for the neighborhood for the estate sale, cash only and carry.

Public sale 10 a.m. to 3 p.m., Friday the 24th and Saturday the 25th, and 10 to noon Sunday the 26th.

Garage Sale

Fund raising is planning a garage sale, by the common house, June 1, advertised on KSL.  Everyone can bring their donated stuff Friday to be priced.

Financials

UFirst, reserve.  $79 K maturing in July.  Best interest currently for three to five months. $97K total in cds.  High-yield money market $89,300. Jorge is setting up cds to renew on a rolling basis, ~$10K every month.

Mountain America.  $6200 in business checking, $25,500 in money mkt, $10K in cds.

Everybody is up to date on HOA fees.

Budget Planning

We had five ACMs in a row on the 2024 budget.  ACM Planning has a suggestion to start earlier and spread them out. Much of the maintenance work (a huge part of the budget) gets done (or not) from May to September.  Waiting until we know what we got done and what is being moved to next year makes planning easier.  Last ACM in September?

Larraine strongly recommends a webchat on Heartwood's budget process.

QuickBooks & Bookkeeping Services

Can get a QuickBooks help subscription at $7.50 for first month, $25 for next two, $50/month after that. 

Two companies:

• Utah Management does financials, maintenance, and other management duties. $350 set-up fee, $450/month for financial, $750 including maintenance plus charge for service calls.  Based in Utah.  It would be possible to have a representative come to a meeting.
• Clark Simson Miller csmhoa.com, specialize in managing small HOAs all over the U.S. not based in Utah They don't use QuickBooks; they use their own proprietary software. $350/month, require one-year contract, then 90-day notice to cancel. 

$970 to renew QuickBooks coming up Friday. 

Jorge is willing to keep working on the books and thinks the help subscription would be useful.  Ben is willing to do reimbursements but wants to know how to check budget when he does it.  Use the credit card as much as possible but do we want to require it?  Need a checkout process for when people take the card, and make sure they turn in the receipt.  Need a permanent record of the 'business purpose' -- justification for purchasing the item, from what budget.

Emailed 5/21/24.