MINUTES OF THE BOARD OF DIRECTORS’ MEETING

SECTOR 2A AT SNOHOMISH CASCADE ASSOCIATION

7 P.M.   TUESDAY   NOVEMBER 4, 2014

 

 

CALL TO ORDER / PRESENTATION OF MINUTES

  1. Steve Yandl called the meeting to order at 7:12 P.M.  Present were Steve Yandl, Ralph Kouri, Tim Day and Nicole Klages. 

  2. Minutes of the October 2014 meeting were presented and unanimously approved.

TREASURER’S REPORT

  1. Steve Yandl reported on current financial status and forecast through the end of 2014.

    1. Currently $29,101 in checking.  After anticipated expenses through the end of the year (including the transfer of funds to the long term reserve) we will deplete checking to nearly 0.

    2. The usual amount budgeted to go to the long term reserve for 2014 is $9,139.  We are in the next to last year of also needing to transfer $11,115 to restore the account after borrowing to cover unexpected legal costs several years ago.  The amount going to long term reserve is to be reduced by the amount spent with Town and Country Fence for repairs in 2014, $4,431.47.  Thus, when the CD with the long term reserve is renewed we will transfer $15,822.53 from checking.

    3. There is $70,659 in the long term reserve.  After the transfer, we will have $86,481 plus any additional interest accrued as we begin 2015.

    4. We have $5,693 in operational reserve.  We are unable to increase that by $6,000 as proposed in the 2014 budget but we didn’t spend down the existing reserve.

  2. Steve Yandl reported on a conversation with the realtor for the Mohammad property regarding HOA liens.

  3. Steve Yandl presented the proposed budget for 2015.  The budget was endorsed by the directors and will be posted on the web page.  Ballots for budget ratification will be mailed with invoices for 2015 assessments which will remain at $400 for the year.  Changes from the 2014 budget are listed below:

    1. Legal and accounting changed from $5,700 to $5,865.

    2. Office expenses reduced from $2,500 to $1,500.

    3. Maintenance (Skinner contract) increased by 2% as per the contract, going from $34,139 to $34,822.

    4. Common area repairs increased from $10,000 to $16,000.

    5. Electrical cost reduced from $500 to $350 (new LED lights at boat park).

    6. Amount to operational reserve reduced from $6,000 to $5,681.

MAINTENANCE COMMITTEE REPORT

  1. Common area lawn aeration has been completed.

  2. No feedback from homeowners along Snohomish Cascade Drive regarding any urgently needed fence repairs.

  3. Waiting on updated info from Town and Country Fence so we can rework reserve fund analysis and plan for more extensive fence upgrades and repairs.

  4. Increase in common area repair line in the budget should allow for repairs on toys in the tot lot play areas.

ARCHITECTURAL CONTROL COMMITTEE REPORT

  1. Steve Yandl will be writing to Aziz Mohammad directing landscape maintenance to avoid imposition of our standard fines for non compliance with CC&Rs.  Phone conversation with realtors regarding our new lien included options for getting the bad yard situation remedied.  An investor is attempting to buy the property and will presumably make improvements if the sale goes through.

  2. Ralph Kouri presented a plan for replacing their existing shed with a new one.  After review, the ACC approved the proposed plans.

OLD BUSINESS

  1. If we can cover any exposed metal where the flag was broken from the boat toy at the tot lot, we may consider not getting the flag reinstalled.  We will get a cost of repair when we have other climbing toy issues checked out but the flag is a lower priority than the tram (walkway) and any other items children might be actually climbing on.

NEW BUSINESS

MEETING ADJOURNED AT 7:55PM.

 

 

                                                                        __________________________

                                                                        Steve Yandl, Secretary