Eldorado Lakes Residential Association Annual Homeowner Meeting Minutes

Transcription

1 Eldorado Lakes Residential Association Annual Homeowner Meeting Minutes Date: Sunday, January 29, 2012 Time: 2-3 pm (scheduled) Place: Eldorado Country Club CALL TO ORDER. Dave called the meeting to order at 2:03 AGENDA Welcome Dave Foster Operational Explanation Ray Flemons Introductions Ray Flemons o Board Members o Committee Chairs/Assistants o Committees Information & News Neighbors Care Program Sarah Stoltzfus 2012 ELRA Directory Coordinator Wendy Dickerson Social Committee Renee Funderburgh New Neighbor Welcome Michelle Stanley Website Coordinator Stacy Nobles Landscape Committee Kerry Smith ELRA Budget Summary Dan Hall ELRA Specific Issues o Compliance Walk-thru at Home Sale Kerry Smith o Renter s Compliance with Covenants Ray Flemons Election of Board Members o Vice President o Treasurer Volunteer Positions Homeowners Comments & Concerns Adjourn ATTENDEES: The attendees comprised the HOA Board of Directors (Dave Foster --Pres, Ray Flemons--VP, and Dan Hall--Treasurer), the Secretary (Heather McGillivray), and committee chairs (Kerry Smith Architecture Control, Dan Dodd--Landscape, Wendy Dickerson Directory, Renee Funderburgh Social, Michelle Stanley Welcome, Stacy Nobles Website, Sarah Stoltzfus Neighbors Care). The attendees represented a quorum of 47 homes (of 79 total), either by Proxy (27 homes), or in person (20 homes). Twenty-three (23) persons (all homeowners, no renters) were in attendance, including Board members. WELCOME (Dave) Dave welcomed the homeowners, and thanked them for their attendance. Dave introduced Ray Flemons, VP, to facilitate the meeting.

2 OPERATIONAL EXPLANATION Ray recognized the Board and Committee members and thanked them for their contributions over the past year. Ray acknowledged that all Board and Committee members are volunteers and there is substantial savings to the homeowners by not having a management company. INTRODUCTIONS & COMMITTEE CHAIR PRESENTATIONS Neighbors Care: Sarah Stoltzfus coordinates meals or sends card to those neighbors in need. Contact Sarah if you know someone in need of this program Directory: Wendy Dickerson is coordinating the 2012 neighborhood directory again this year. She will distribute forms to gather updated information including children s names and ages and information regarding pets (to assist with returning lost pets to their owners) as well as services the children offer such as babysitting, pet sitting, lawn care, etc. She will coordinate with our webmaster to have information updated throughout the year as needed. Her goal is to complete the directory over Spring Break 6 weeks away. Wendy has requested help in selling ads to cover the cost of printing and to assist the Jr. Association with funds throughout the year. New Neighbor Welcome: Michelle Stanley has enhanced this program over the last year by adding a Welcome Basket for new homeowners. The basket includes our directory and welcome letter with information regarding gate access, website access and contact information for Board Members. Also included is an Information Request form so that we can quickly add new homeowners to our distribution list. Sales materials are included for businesses who advertise in our directory. Social Committee: Renee Funderburgh is our social chairperson. Renee stated that each event in 2011 had participants. She especially focuses on events for the neighborhood children. The idea for selling directory ads was initiated to earn money for the Junior Association. Past special events have included painting shirts for Father s Day, Craft days, planting irises and roses. Annual events are: Easter Event, Halloween Hot Dog Cookout, Family BBQ/Picnic, Movie Night, Christmas Event The social committee coordinates about 10 events per year. Renee welcomes ideas and appreciates everyone s contribution. Website Administrator: Stacy Nobles has recently taken over this volunteer position from Luis Villanueva. Stacy has changed the domain and is trying to make the site more user-friendly. What you ll find: Current Board Members and contact info as well as current gate code (password protected) By Laws/Covenants News Items Social Event updates Photos of our events Minutes of HOA Meetings FAQs (gate access, selling your home ) Links to other important sites (MISD, City of McKinney, etc) Contractors and Services

3 Write to our webmaster (Stacy Nobles) at for Password, photo uploads, suggestions, events updates, etc. Ray Flemons suggested adding the Collin County webpage link. Landscape/Architecture Committee: Kerry Smith leads this committee with Jere Robertson and Dan Dodd. The Other Side (TOS) will remain our 2012 contracted landscape company. TOS handles all landscaping maintenance, weed control, etc. They offer an incentive program based on the number of homeowners utilizing their regular maintenance service. Currently we receive a 10% discount on our common grounds maintenance. In order to maintain this discount we need to have 16 homeowners using their service. We currently have only 14 (due to some relocations and change of regular service.) Kerry encourages us to talk with our neighbors to promote TOS service. ELRA Budget Summary: Dan Hall is our Treasurer and Lynne Marty is our Assistant Treasurer. Dan reviewed the summary for 2011 and the budget for He included charts indicating the source of HOA revenues and the major cost elements in the budget for Some details are below and slides are attached. Revenue: Revenue $60,736 Reviewed our financial snapshot Financial Statement Snapshot 12/31/2011 Total Operating Revenue $59,405 Interest Income 1,331 Total Revenues $60,736 Expenses Operating Expenses $35,556 Street Reserve Additions $10,000 Capital Reserve Additions $ 6,000 Money Market Additions $ 4,000 Total Expenses/Additions $55,556 Net Income After Deductions $ 5,180 Our net income for 2011 was $25, We paid $10,000 to street reserves, $6,000 to capital reserve and $4,000 to our money market, netting us $5, We are $1,400 ahead of where we need to be on our street reserves Last year we double paid our property taxes so this year we show $0.94 property tax payment. Christmas lights show $1,300 but this is for 2 years since 2011 payment was made in Gate repairs were lower this year which leads us to expect more repairs for next year. Capital reserve is $19, Lynne Marty provides a division of financial duties and double checks reports.

4 Where the HOA funds go: Where the HOA funds go Common Area Maintenance 11,552 Water 8,020 Electricity 4,050 Insurance 2,776 Answering Service 1,261 All other expenses 7,897 Top 5 items are 78% of the total expenses of operation Capital Reserves: Items Covered in 2012 Operating Budget Normal operating expense items (maintenance, utilities, services, etc.) Historical levels for repairs/maintenance, with small levels of unidentified contingency. Entry area Phase III Landscape improvement allowance: ($4K) Primarily at Winding Hollow exit areas Allowance for improving our cameras/security system ($1.5K) Allowance for Christmas light installation/removal, and some improvement ($800) Plus-up of Social and Jr. Budget to $ directory ads Planned usage of Capital Reserve Paint fence and gates - spring Repair and paint gazebo - spring Add Stop Sign at Pecan Ridge and Winding Hollow Plus-up of security system including phone system and cameras Repair brick border at the bottom of retaining walls along Provine General Maintenance Capital Reserves: Ray Flemons reviewed our Capital Reserve Funds explaining why we have them and what we plan to use them for in He spoke with Jack Carr, Director of Engineering for the City of McKinney and confirmed that the City will not take over our streets even if we remove our gates. The City requires that we set aside funds to maintain our streets. We made a $10,000 contribution to the Street Reserve, yielding an end-of-year balance of $180, ELRA SPECIFIC ISSUES Compliance Walk-Thru at Home Sale: Kerry Smith reviewed the background on this policy and expressed that the policy has worked well in He asked that homeowners tell us when they are planning to sell or a neighbor is selling so that we can perform a walk thru for HOA policy compliance and ensure that a sale will go smoothly. This policy addresses non-compliance issues which protect new homeowners. o Renee Funderburgh asked if the board has had this policy reviewed by an attorney to see if we are within our legal rights. She also suggested that compliance needed to be defined. Dennis O Hagan seconded that he wishes for this policy to be reviewed by an attorney to safeguard the board and the association from liability issues. The board will take this under review. Renter s Compliance with Covenants: Ray Flemons confirmed that the board makes every attempt to speak directly with renters but the responsibility lies with the homeowner in regard to policy compliance. If you plan to lease your home, notify the board so that the homeowner can interface with their renter to be sure all HOA guidelines are followed. The HOA has no standing with renters. o Dennis O Hagan asked, What is the biggest issue regarding homeowners leasing to renters? It was expressly stated that street parking is the biggest issue. Dave Foster has addressed the parking guidelines with renters, especially on Winding Hollow as you enter the subdivision. o Michelle Stanley asked if we could legally request a copy of the lease. Renee Funderburgh stated that the lease agreement will address the number of vehicles allowed to be parked at the residence. o The board is currently reviewing a procedure to address these issues.

5 ELECTION OF BOARD MEMBERS Two elected positions, Vice-President and Treasurer, were open for election for two year terms. Prior to the meeting Ray Flemons name was submitted as nomination for Vice- President and Dan Hall s name was submitted for Treasurer. No other written nominations were received. Absent further nominations from the floor, and having a quorum represented in person and by proxy, Ray Flemons was accepted as Vice- President and Dan Hall as Treasurer by acclamation. VOLUNTEERS FOR APPOINTED POSITIONS (Dave) Dave Foster requested one more volunteer on the Architectural Committee. Jere Robertson has asked to be excused from this position. Michelle Stanley nominated Brad Stanley and will discuss and report back to Dave. Dave Foster requested a volunteer for the Gate Access/Clicker focal point of contact. No nominees. Will revisit when new gate system is put in place. Rich Karm has graciously offered to continue to help when available. NEW NEIGHBORS WELCOME Ray presented a slide of all neighbors new to the subdivision since the printing of the 2011 directory. HOMEOWNERS COMMENTS & CONCERNS Lynne Marty expressed her thanks for the board and volunteers. Dennis O Hagan asked if it was in the budget to repair the retaining wall along Provine. Dave Foster has received 2 estimates and is awaiting 1 more. Dennis recommended talking with Stonegate for a referral. Dave Foster stated that he feels it is necessary to wait for the drought to cease so that the soil expansion subsides. He has confirmed that the walls can be repaired instead of being replaced. Michelle Stanley will give Dave Foster a referral for a mason contractor. Dennis O Hagan expressed concern about bricks being thrown in to the street. Sidewalk along Provine is cracking due to the trees rising about the ground. Dave Foster stated that the sidewalk is the City of McKinney s responsibility and asked that homeowners place calls to the City to invoke action. It was recommended to include photos. Ken Sandoval expressed his appreciation to the board and volunteers. He also stated that the responsibility is shared by all homeowners, not just the board. The board appreciates help. Dave Foster explained that the fountain is turned off due to requirements of the City during the Stage III Drought. Dave Foster addressed the coyote problem in the neighborhood. He has researched the issue and suggests that all animals are kept inside or on a leash. There is really nothing else that can be done except eliminating their food source. The board will continue to notify homeowners of any future activity. ADJOURNMENT: Dave adjourned the meeting at 3:02pm