Minutes of the Board of Directors’ Meeting
Wednesday, November 25, 2014
Call to Order/Establish Quorum of Directors: President Kathie Heisey called the meeting to order at 6:30 pm in the clubhouse at 7900 Greenboro Drive. Board Members present were: President Kathie Heisey, and Treasurer Assistant Hattie Martin. In attendance by speakerphone were: Vice President Peter Engel, Secretary Angelo Laviano, Treasurer Al Fassler, Directors David Tarantelli, and Traci Niederriter. A quorum was established. Lynn Hiott and Michelle Davis with Reconcilable Differences was present. There were 12 units represented: Maria Kirkpatrick, Rodney Savakis, Catherine Valentino, Michael & Chelsea Balak, Josephine McLean, Rita Valentino, Judy Schneider, Theresa Vazquez, Jane Hamilton, Fontaine Wallace, Stacy Pregartner, and Janet Loor.
Approval of the Board Meeting Minutes of July 9th, September 24th attorney meeting, October 22nd, and October 29th Meetings: Peter motioned to approve all these meeting minutes as written. Al seconded, and all were in favor except Traci who opposed.
Board Vote on 2015 Budget: Al explained that to get the monthly fee down from a $25 increase to a $15 increase each month, a total of $14,400 had to be taken out of the proposed budget. In Paint Reserves there is over $98,000 saved to date, and the Board feels that this is enough to get the buildings painted in 2015, so it was elected to not fund the paint reserve line item in 2015, thus not saving $12,000 more in 2015. The other account that was reduced was the asphalt reserves account. $2,400 to be funded in 2015 will not be. With these reductions, the budget would be $350 per unit per month, plus an $800 assessment per unit, to be paid at $200 quarterly, for a total additional $96,000 for the year. Peter motioned to approve the 2015 Budget with a $15.00 per unit per month increase, to $350 per month, plus a special assessment of $800 per unit paid over 4 quarters. Hattie seconded and all were in favor except Traci who opposed. The Board asked management to order the coupon books for 2015 to be mailed to all owners who requested them.
Any New Business:
CPA Audit Company Selection: Angelo stated that he would like to have Gerstle, Rosen and Goldenberg, PA, the company that did the audit in 2012, come back for the 2014 review, since they are familiar with the accounts. Tracy made a motion to hire CPA’s Gerstle, Rosen, and Goldenberg at a cost of $3,800 to complete an audit of the 2014 financial records, even though the owners voted to allow the lesser reporting, a review, to be done. Angelo seconded the motion, all in favor.
Announcement from Management: Lynn reported that due to ongoing issues and conflicts, management has submitted their 30 day termination notice to the Board. After discussion, Lynn agreed to stay on as manager until the Annual Meeting in April. Some homeowners spoke up and stated that they are sad to see management go because the property looks so much better and the Association is running so much more smoothly than it did before this management company was hired. Kathie stated that this would have to be further discussed with the Board before any final statements could be released. She promised to update at the next meeting.
Set Next Board Meeting: The next scheduled Board Meeting will be December 16, 2014 at 6:30 pm at the clubhouse at Garrett’s Run.