Annual HOA Meeting Minutes Rabbit Ears Village Association 8/17/14

Transcription

1 Annual HOA Meeting Minutes Rabbit Ears Village Association 8/17/14 1. Meeting called to 11:00 a.m. 2. Verification of Quorum with Proxies-- a total of 78 votes affirmed. 3. Board of Directors opened meeting by honoring and thanking long-time caretaker Robert Nelson. Mr. Nelson resigned his position effective 6/1/14. Board presented Mr. Nelson with a check in the amount of $ in appreciation of his service. 4. Approval of Meeting Agenda: Accepted. 5. Review and Approval of Annual Meeting Minutes from prior year 8/18/13: Accepted. 6. Presidents Report: BOD President James Steward addressed those in attendance thanking everyone for participating. An overview of HOA business was discussed for the year. 7. Treasurers Report: BOD Treasurer Eric Guess presented up to date financial documentation including Profit & Loss Report, Balance Sheet and current cash on hand status. Discussion was held about past due assessments and collection issues. After discussion, financial reports were accepted. 8. Road Committee Report: BOD Member and Road Committee Liaison Mark Karr addressed the membership in regards to work done during the period. Mr. Karr and Road Committee Member Jeff Howard presented a road system map highlighting the sections of road where work was completed. Those in attendance were appreciative of the visual aid. Discussion was held surrounding foreseen and unforeseen road issues. Decision was made to continue current work efforts using recycled asphalt and standard road aggregate material. 9. Environmental Control Committee: ECC Chair Cathy Murphy reported on possible new construction projects for summer of One project expected to begin in spring 2015 on lots 60 & Caretaker Report: BOD Members and acting caretakers Mark Karr and Eric Guess presented current state of buildings and grounds owned by the HOA. Discussion of needs and decision made to continue ongoing maintenance efforts. 11. Mosquito Authority: Gino Panepinto with the Mosquito Authority addressed the membership in regards to his company s mosquito control services. Discussion and testimonial was provided by current users of the service and its effectiveness. BOD and membership thanked Mr. Panepinto for his time and information. 12. Loop Fund & Snowplowing: Discussion was held surrounding current snow-removal work being done by the HOA and private lot owners. Review of the current snow-removal policy was held and decision made to continue with current policy. 13. Lodge Updates & Needs: Discussion was held surrounding maintenance and improvements of the HOA lodge. Caretakers Mark Karr and Eric Guess presented current state of facility and the need to address the exterior condition. Lodge needs new siding and several windows replaced. Discussion was held surrounding costs to complete work. BOD President James Steward and BOD Treasurer Eric Guess addressed membership with preliminary details on

2 possible project financing. Decision was made to explore financing options further, create and complete a membership survey with options available, and schedule/hold a special meeting to review survey results (to be held in Kremmling CO). 14. Policy Review: Discussion was held surrounding several policies including snow removal, camping, parking, and recreational use. Membership was appreciative of the review. Decision made to continue with current policies in place. Proposed Good Neighbor Policy was discussed and rejected due to anticipated issues with enforcement. 15. Election of Directors: Two seats were up for election:--james Honaker (2yr term) and Laurie Salazar (2yr term). Both positions were un-opposed and Mr. Honaker and Mrs. Salazar accepted new terms 16. With all agenda business items being addressed, meeting was adjourned. Respectfully Submitted by Eric Guess-BOD Treasurer. Minutes approved at the 2015 HOA meeting by the general membership.

3 1:15 PM Ordinary Income/Expense Income Income Dividends Expense Reimbursement Gate Remote & Key Sales Interest Lodge Rental 9, Lot Assessments 57, Total Income 70, Profit & Loss September 1, 2013 through August 15, Mtn Parks Electric dividend 2, Plow loop reimbursement Money Market Total Income 70, Expense Administrative Postage and Delivery Supplies Total Administrative New checks/printer cartridge Corporate Filing Fees Total Corporate Insurance Property, Liability & Pro 3, Vehicle Insurance Workers' Comp Total Insurance 4, Interest Expense Loan Interest Total Interest Expense Backhoe loan Page 1 of 4

4 1:15 PM Profit & Loss September 1, 2013 through August 15, 2014 Maintenance & Improvements Gate System Grounds Lodge Roads 24, Total Maintenance & Improvements 30, , Actuator arm/monthly fees 1, Fencing/mowing 1, Cleaning supplies/septic pump Management Fees Caretaker Lodge Reservationist Total Management Fees 4, , Monthly stipend & internet Professional Fees Accounting Legal Fees Total Professional Fees 2, , Liens/collections; misc correspondence Snow Removal Contracted Fuel 2, In-house Plowing parts Total Snow Removal 7, , Bock Construction 2, Robert & Eric Telephone Local Total Telephone Travel & Ent Meals Total Travel & Ent Volunteer lunch Page 2 of 4

5 1:15 PM Profit & Loss September 1, 2013 through August 15, 2014 Trout Pond Fish stock Total Trout Pond Utilities Electric 2, Gas 4, Total Utilities 7, Vehicles Maintenance Total Vehicles CV joint Website Hosting Fees Total Website New website/annual fee Total Expense 61, Net Ordinary Income 8, Net Income 8, Page 3 of 4

6 12:41 PM Balance Sheet As of August 15, 2014 ASSETS Current Assets Checking/Savings Vectra Bank Checking 4, Vectra Bank Money Market 10, Total Checking/Savings 14, Accounts Receivable Accounts Receivable Total Accounts Receivable 4, , lot under lien; 1 under payment plan; 1 foreclosure Total Current Assets 19, Fixed Assets Equipment Assets 22, PP&E Land Lot 6 25, Lot 7 25, Total Land 50, Lodge 200, Total PP&E 250, Total Fixed Assets 272, TOTAL ASSETS 291, LIABILITIES & EQUITY Liabilities Current Liabilities Other Current Liabilities Loan Payable Total Other Current Liabilities 6, , Backhoe loan balance Total Current Liabilities 6, Total Liabilities 6, Equity Opening Bal Equity 9, Owners Equity 250, Retained Earnings 16, Net Income 8, Total Equity 285, TOTAL LIABILITIES & EQUITY 292, Page 4 of 4