What's New

CALL TO ORDER
The meeting was called to order at 6:30 p.m. by Sharon Drobka, President.

MEMBERS PRESENT
Sharon Drobka - President
Dan Van Ert - Vice President
Pamela Rohlfs - Treasurer
Rudi Fruth - Secretary
Jin Kim - Member
Anne Omori - Member

MEMBERS ABSENT
Morris Lane - Member

ALSO PRESENT
Joanne Peña - Horizon Management Company
Jack Davidson - On-Site Maintenance

OPEN FORUM
The homeowners in attendance were given the opportunity to address the Board.

MINUTES
MOTION (DVE,JK) to approve the minutes of the September 15, 2009 board meeting, as submitted. The motion carried, with RF, AO and PR abstaining.

FINANCIAL REPORT
As of September 30, 2009, there was $241,136 in operating cash and $1,410,471 in reserve funds. It was noted that operating expenses are under budget by $42,481 year-to-date.

Reserve Investments, MOTION (DVE,RF) ) to re-invest three of the $90,000 CD's coming due in October for six, nine and twelve months. The motion carried. The Board asked Horizon Management to challenge Merrill Lynch to find CD's with higher yields.

Delinquencies: The Board discussed the status of delinquent assessments.

MOTION (AO,PR) to accept the September financial report. The motion carried.

MAINTENANCE REPORT
Jack Davidson gave a status report with regard to the following maintenance projects:

• The deck renovation project is now complete. The Board expressed some concern with the fact that the new deck surfaces are hard to keep clean. Jack will meet with representatives from Professional Services Construction to look at the soil and stains on the decks facing the entrance drive. Jack will ask PSC what products can and should be used to clean the decks, and this information will be included in the next newsletter.
• Over the course of the last seven months, while the deck project has been in progress, all of the patio caps and front doors have been painted, and a number of front doors have been replaced, all under budget.
• At least two satellite dishes have been installed recently that do not comply with the Association's architectural standard. Letters will be sent to the unit owners requesting that they have the installation deficiencies corrected.

Landscape Proposal. The Board reviewed a proposal for $985 to make further upgrades to the planter area adjacent to the exit driveway. MOTION (RF,JK) to decline this proposal. The motion carried.

Tree Trimming. The Board reviewed competitive proposals from TruGreen and Finley's for trimming all of the trees. MOTION (DVE,AO) to accept the TruGreen proposals if they can agree to reduce their overall pricing by $3,000. The motion carried, with JK opposed. If TruGreen cannot reduce their pricing, and if Finley's can provide adequate proof of insurance, the work will be given to Finley's.

Fire Extinquisher Cabinets. The Board reviewed two proposals for replacement of the fire extinguisher cabinets, but tabled decision. The Board asked Jack to obtain cabinet samples and verify whether or not Mike Green's proposal includes installation.

MANAGEMENT REPORT
2010 Operating Budget. The Board reviewed the draft operating budget for 2010, which reflected an increase in dues of $15 per unit per month. MOTION (PR,RF) to approve the budget with an increase in dues from $270 to $285. The motion carried, with JK opposed. Upon further review of the 2010 reserve study, it was determined that the dues could be set at $280 per unit per month, rather than $285 per unit per month.

Annual Disclosures. MOTION (PR,AO) to approve the annual disclosure letter, which will be mailed to the members along with the 2010 operating budget, reserve study, delinquency policy and insurance summary/disclosure. The motion carried.

Year-end Audit. The Board tabled acceptance of Creighton Tevlin's engagement letter for performing the year-end audit.

Pool C Security Camera System. It was noted that the DVR the works in conjunction with the four surveillance cameras at Pool C is not recording properly. Repair bids will be solicited.

Correspondence. The Board reviewed several items of homeowner correspondence and instructed Horizon Management to respond to each.

ADJOURNMENT
There being no further business, the Board adjourned the meeting at 8:45 p.m. The next meeting is scheduled for November 17, 2009 at 6:30 p.m. in the Clubhouse.