Forrest Lake Townhouse Association 5805 Lumberdale Road, Houston, TX 77092 713-681-3591 office@forrestlake.com BOARD MEETING AGENDA May 17, 2018 7:00 8:00 P.M. President: Secretary: Treasurer: Maintenance: Landscaping: Security: Call meeting to order Minutes from Previous Meeting Treasurer Report Maintenance report Landscaping report Security report Old Business: Comcast / Xfinity Cable Fiber Upgrade Update Parcel Lockers - update New Business: Centerpoint Electric Grid Rehab Project Adjourn
FORREST LAKE TOWNHOUSE ASSOCIATION BOARD OF DIRECTORS MEETING MINUTES May 17, 2018 PRESENT: Canion Boyd, Philip Salerno, Bob DeCesare and Brook Baker Canion called this meeting to order at 7:00 pm The motion to approve the meeting agenda was approved. The minutes dated April 19 th, 2018 were previously approved via email on April 24 th, 2018 TREASURER: See attached report hereto and made part of these minutes made for the May 2018 meeting. MAINTENANCE: See attached report hereto and made part of these minutes made for the May 2018 meeting LANDSCAPING: See attached report hereto and made part of these minutes made for the May 2018 meeting SECURITY: See attached report hereto and made part of these minutes made for the May 2018 meeting. SOCIAL COMMITTEE: No report submitted OLD BUSINESS: Comcast has rebuilt the sidewalk on W. Tidwell where it was damaged after repair of the water line. o Cable upgrade has been delayed. Waiting on for completion date update from Comcast Security surveillance cameras have been installed and are now operational Post office has been contacted for requirements on adding additional parcel boxes NEW BUSINESS: Centerpoint Electric Grid Rehab Project proceeding according to plan The meeting was adjourned at 7:22 pm. Page 1
T reas u rer s Rep ort for the M onth M ay 2018 1. Please see the attached Financial Report through April 2018. The Total Income (accrued) for the month was $86,354.89. Total Expenses were $85,760.39 and there was $0 in Accounts Payable. $2430.00 was transferred to the Roofing Fund and $1250.00 was transferred to the Infrastructure Fund. This yielded a Net Accrual Income of $594.50 after the transfers to the Funds. The budget performance for the fiscal year is Total Income at 99.1%; Total Expenses at 91.77%; and, Net Accrual Income at -82.86% indicating that we are below the approved budget. 2. The account aging continues to fluctuate from month to month with the over 30 days, over 60 days, and over 90 days all slightly increased from the previous month. 3. As of April 30, 2018, the balance of the checking account is $23,310.18; savings account is $97,017.87; Infrastructure Fund is $8000.65; Undeposited Funds is $4430.00; Roofing Fund Savings account is $9878.68; and, the Share account and Roofing Fund CDs at the credit union are $5.00 and $92,924.78 respectively. There is a remaining amount of $10,000 to be transferred to the savings account. As the next few months proceed, we will be transferring those funds back from the checking account into the savings account. We have $22,015.43 in Accounts Receivable. 4. Attached is the Late Payment Report for May 2018. 5. Reminder letters were sent to homeowners whose policies expire in May and June and all homeowners are in compliance. 6. The remaining maintenance tickets from August to mid-october 2016 remain to be entered into the database. This continues to be delayed due to other pressing issues. 7. Capital Projects schedule for the fiscal year: Comcast: The sidewalk on W. Tidwell was rebuilt by Comcast in that section where the water line was broken. Bridge Repair: This project is scheduled for later this Spring or early Summer. The intention is to remove the wood as needed and replace them all in the same day, section by section, so that the bridge is not out of commission after business hours. Concrete Repairs: This project has begun. There are a number of areas that require repair and those areas were prioritized. Those roads that had potholes or were badly cracked were given a higher priority. We are replacing the sidewalk that runs along the northern edge of the lake due to poor drainage and the risk it presents. Landscaping Phase IV: See the Landscaping report for further details. Tree Trimming: The work has begun and it will take approximately one month to complete all of the work. Wireless Security Camera Pilot: The additional antennas were installed on the pole at building #28 and the transmission of the images has not improved so Jamie will follow-up with the vendor to discuss this issue. Camera files from 30 days ago were accessed from each pole and verified that they were viewable on the general manager s PC. Also, video files from 30 days ago were also accessed from the updated DVR.
T reas u rer s Rep ort for the M onth M ay 2018 Additional Parcel Lockers: We received a contact name with the USPS and we are working with the vendor to finalize a quote. With the appointment of the regular letter carrier, we have not experienced further package related issues. Pa g e 2
EO M Financ ialreportfy20 18. xls x Nov2017 Dec2017 Jan2018 Feb2018 Mar2018 Apr2018 May2018 Jun2018 Jul2018 Aug2018 Sep2018 Oct2018 FY2018 YTD Budget YTD BALANCE SHEET: Assets: 17 0 0 0 W e ls Fargo (c hec king) 17 649. 8 6 31, 626. 54 30 199. 64 56, 552. 98 31, 47 1. 0 0 23, 310 18 17 50 0 W e ls Fargo (s avings ) 96, 993. 7 9 96, 998 7 3 97 0 0 3. 67 97 0 0 8 14 97 0 13. 0 8 97 0 17 8 7 Total Checking/Savings 114, 643. 65 128 625. 27 127 20 3. 31 153, 561. 12 128 48 4. 0 8 120 328 0 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Accounts Receivable 21, 348. 7 4 21, 60 4. 97 22, 7 36. 0 3 21, 669. 16 19, 8 96. 26 22, 0 15. 43 Other Current Assets: 1160 0 -Infras tru c tu re Fu nd 1, 7 50 0 8 3, 0 0 0 13 4, 250 22 5, 50 0 32 6, 7 50 47 8 0 0 0 65 14990 -Und epos ited Fu nd s 3, 450 0 0 9, 7 28 0 0 6, 555. 0 0 2, 8 50 0 0 6, 228 0 0 4, 430 0 0 160 0 5 -P repaid P roperty Ins u ranc e 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 160 10 -P repaid W orker's C omp 3, 50 9. 0 0 4, 666. 0 0 4, 666. 0 0 0 0 0 0 0 0 0 0 0 18 0 0 0 W e ls Fargo N ew RoofingFu nd 17 7 23. 64 20 154. 41 22, 58 5. 30 25, 0 16. 20 27 447 51 9, 8 7 8 68 18 50 0 -GreaterTexas C D (48 month) 58 0 36. 49 58 139. 0 3 58 139. 0 3 58 139. 0 3 58 239. 52 58 239. 22 18 510 -GreaterTexas C D (60 month) 14, 627 0 8 14, 656. 61 14, 656. 61 14, 656. 61 14, 68 5. 56 14, 68 5. 56 18 520 -GreaterTexas C D (60 month) 20 0 0 0 0 0 18 550 -GreaterTexas S hare A c c ou nt 5. 0 0 5. 0 0 5. 0 0 5. 0 0 5. 0 0 5. 0 0 Total Other Current Assets 99, 10 1. 29 110 349. 18 110 8 57 16 10 6, 167 16 113, 356. 0 6 115, 239. 11 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other Assets: 11650 -W aterd epos it 1, 0 0 0 0 0 1, 0 0 0 0 0 1, 0 0 0 0 0 1, 0 0 0 0 0 1, 0 0 0 0 0 1, 0 0 0 0 0 Total Assets 236,093.68 261,579.42 261,796.50 282,397.44 262,736.40 258,582.59 0.00 0.00 0.00 0.00 0.00 0.00 Liabilities: 120 0 0 -A c c ou nts P ayable 0 0 0 1, 157 0 0 5, 365. 7 0 0 0 0 2, 37 0 68 0 0 0 2160 0 -M aintenanc e Fees P aid In A d vanc e 18 0 50 0 0 25, 0 36. 50 17 491. 50 22, 0 7 5. 0 0 21, 0 23. 50 18 645. 0 0 2450 0 -S ec u rity D epos its 161, 536. 20 161, 956. 20 161, 695. 20 161, 695. 20 162, 246. 20 162, 246. 20 Total Liabilities 179,586.20 188,149.70 184,552.40 183,770.20 185,640.38 180,891.20 0.00 0.00 0.00 0.00 0.00 0.00 % of Budget YTD PROFIT & LOSS: Income: Total Income 81,589.80 85,898.44 84,419.73 85,427.75 84,835.08 86,354.89 0.00 0.00 0.00 0.00 0.00 0.00 508,525.69 513,145.56 99.10% Expense: Total Expenses 88,166.88 68,559.04 82,313.24 59,364.51 106,512.05 85,760.39 0.00 0.00 0.00 0.00 0.00 0.00 490,676.11 534,687.69 91.77% Net Ordinary Income -6,577.08 17,339.40 2,106.49 26,063.24-21,676.97 594.50 0.00 0.00 0.00 0.00 0.00 0.00 17,849.58-21,542.13-82.86% Other Income/Expense: 5/31/20 18 P age 1 of2
EO M Financ ialreportfy20 18. xls x Nov2017 Dec2017 Jan2018 Feb2018 Mar2018 Apr2018 May2018 Jun2018 Jul2018 Aug2018 Sep2018 Oct2018 FY2018 YTD Budget YTD..... Other Income: 90 0 0 6 -N ew RoofingFu nd D ivid end 0 64 30 30 0 8 9 0 90 130 7 5 1. 17 164.65 0.00 % of Budget YTD Other Expense: B ad D ebtw rite O ff 9, 90 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9,900.00 0.00 RoofingFu nd C ontribu tion 2, 430 0 0 2, 430 0 0 2, 430 0 0 2, 430 0 0 2, 430 0 0 2, 430 0 0 14,580.00 14,580.00 100.00% Infras tru c tu re Fu nd C ontribu tion 1, 250 0 0 1, 250 0 0 1, 250 0 0 1, 250 0 0 1, 250 0 0 1, 250 0 0 7,500.00 7,500.00 100.00% Total Other Expense 13,580.00 3,680.00 3,680.00 3,680.00 3,680.00 3,680.00 0.00 0.00 0.00 0.00 0.00 0.00 31,980.00 22,080.00 144.84% Net Other Income/Expense -13,579.36-3,649.70-3,679.11-3,679.10-3,549.25-3,678.83 0.00 0.00 0.00 0.00 0.00 0.00-31,815.35-50,051.34 Net Income -20,156.44 13,689.70-1,572.62 22,384.14-25,226.22-3,084.33 0.00 0.00 0.00 0.00 0.00 0.00-13,965.77-43,622.13 32.02% Aging Report: O ver30 D ays 1,056.00 1,386.00 136.00 1,137.00 792.00 826.00 O ver60 D ays 759.00 66.00 1,116.00 1,110.00 758.00 792.00 O ver90 D ays 17,748.74 18,541.97 19,535.03 17,748.16 17,443.26 17,762.43 Total 19,563.74 19,993.97 20,787.03 19,995.16 18,993.26 19,380.43 0.00 0.00 0.00 0.00 0.00 0.00 5/31/20 18 P age 2 of2
M aintenance Rep ort M ay 2018 28 General maintenance cases opened 4/20 5/17/2018: Electrical 1 Irrigation 4 Landscape 5 Carport Lights 3 Maintenance 8 Miscellaneous 3 Paint 2 Plumbing 1 Security 1 Social 0 20 closed 8 Remain open: Painting Irrigation Miscellaneous Active maintenance projects o Concrete Architectural Control Committee (ACC) submissions Patio Door replacement Patio Fence replacement Daily / Weekly Preventative Maintenance: Pool maintenance, Lake maintenance, Pet Pooper Scooper, Fountains, Clubhouse, Community Lights Comcast / Xfinity running new Fiber Optic and Coaxial throughout the entire community, scheduled completion TBD
Lands cap ing and Secu rity Rep orts M ay 2018 L A N DS CA P IN G Sicola planting is set to begin Monday 5/21 S ECU R IT Y There has been no home or car break-ins reported this month.