October 10, 2009 Board Meeting
Meeting called to order 10:35am at the Ponderosa Clubhouse
Vice President Ann Ashford - Acting President presiding
Secretary Peter Smith recorder of minutes
Board Members Attending: Peter Smith, Steve Geho, Jeanne Whitlow, Bill Griffin
Mary Cox, Association Manager attending
Vice-President announces resignation of Bill Griffin as President of the board and reads letter of resignation submitted by Bill.
Secretary’s Report: The board has adopted the Board Code of Conduct. Executed copies from current board members are on file at the PCC office.
Title Research: Resolution of certificate & cover letter. Bill Griffin reads resolution concerning expired Ponderosa covenants and bylaws regarding financial responsibilities of all owners due the Ponderosa by virtue of vesting deeds.
Motion made to accept resolution, cover letter will be prepared and a vote regarding the cover letter will be held in the November 14th board meeting.
Discussion: Steve Geho notes an update of signature is required on the resolution due to Bill’s resignation.
Motion unanimously approved.
Bill provides a brief overview of the Title research issue: Research has indicated that 92 identified property deeds and conveyances may not have clear association with Ponderosa bylaws and financial obligations. The Board along with legal representation has finalized the process, communications and next steps required to resolve the issue among effected Ponderosa homeowners.
Research of Easement on lot 22 & 23. Ann continues to research the details of “said” easement on lot 22 & 23, but has not received complete information. This issue regards a driveway that crosses Ponderosa greenbelts as well as private property and National Forest. We have no written record of the easement. Ann to continue her research.
Operations Director’s Report:
Jeanne Whitlow offers her thanks to Bill Griffin for his leadership and guidance as a Board President.
Water Main project: Operation Director submitted an application for 1st part of the project. The load includes items 1-10 on the Water Main replacement project. Jeanne estimates that we should receive a response the 2nd quarter of 2010. The anticipated interest rate may be as low as 1 percent. Jeanne anticipates that “all or nothing” may be approved rather than partial funding. Total amount for the funding is just under $2 million dollars.
Riata update: DOE will notify the property developers above Riata by letter that they will be liable for runoff/discharge and storm-water running onto all effected properties. In addition, Mary has engaged with an excavation company to make improvements to Riata including adding 6” rock, deepening the ditches, adding culverts and minor grading improvements. Project due to be completed the first of November.
Audit: Our bylaws require an “audit” every 7 years which is due Sept 31, 2011. Steve is working with John Cross to review our financial reporting and aligning our FY budget calendar and FY Operating budget calendar, which will require a vote of the members.
Review of financial auditor and continued use of LeMaster & Daniels: at this time Steve recommends that no changes be made.
September Financials: available on the PCC web site
$20k payment made on existing water loan.
At 75% of FY completed and several items currently below YTD budget Mary expects to fully use roads budget, as well as several other line items.
Outstanding HOD are being received as agreed / expected.
As a result of past due accounts Mary asks if the Ponderosa can turn individual water supplies off. It is the board’s belief that that yes, water can be shut-off due to past-due accounts.
Jeanne asks if we can solicit members to join/create a by-laws committee as well as many other volunteer opportunities within the Ponderosa.
2010 Budget Discussion:
Review of Individual line item Budget: allowing for changes (see draft budget)
Bad debt: due to the possible outcome of the 92 owners within the title research project. The Treasurer would like to increase the bad debt percentage taken into account in the 2010 budget. The estimated amount under discussion is approx. $20k.
Our current bad debt is lower than 2.5%, should the board increase the rate to 4% which would impact individual members HOD.
Vote: use the existing $30k to cover any bad-debt which arises from the ongoing title research project. Bill voted against, remaining board members vote to approve use the existing $30k as not to affect individual HOD.
Jeanne asks for clarification on capital improvements v/s building & grounds budget items. Categorizing depends on life of the purchased item and amount spent.
Due to this we’ll reduce building & grounds budget to $5200
Social Committee budget will be reduced by $200 as we will longer provide funding to the Quilter Club for a total of $2200.
Motion: Motion made to approve the proposed budget
Motion unanimously approved.
Meeting adjourned to Executive Session 12:25pm