Eagle Ranch Property Owners Association Board Meeting – May 19, 2011
Present – All Members, except VP,
Newsletter editor – Debby Graham
Location – Atchley Residence
The meeting opened at 6:49 pm
1. Insurance – Cathi is not in favor of posting our insurance policy on to the ERPOA website, but Tom mentioned that it may be a state law, where that policy has to be published. He will check this out. Our insurance agent expressed to Horst previously that he would be willing to come to one of our meetings and explain our policy to us in greater detail. We may invite him to one of our future meetings, after the annual meeting.
2. Old Business –
Road Signs – The needed road signs mentioned in the previous meeting have not been put up yet. Tom still needs to look into possibly making the signs ourselves, rather than purchasing them.
Audit – the audit committee has audited our books, and came up with a few discrepancies, such as needed signatures and monies given to the president must be signed by the vice president. It was stated that in the tax return summary there were a few things missing, but those items were part of the 2010 tax year, where the tax audit was to be done for the previous year. Cathi suggested that any future tax audits be done for the previous fiscal year. She also pointed out that there were no discrepancies in the audit, which were related to money matters.
3. Fee Collections – Tom mentioned that we need to have the collections, that are done by an agency, performed more often. Too many lot owners that are late with their payments, have been late numerous times, and the increasing amounts due may be in jeopardy, should the owner declare bankruptcy. Cathi pointed out that our covenants state that we are allowed to charge up to 8% interest on late payments. The percentage and when to charge it was discussed. Cathi also mentioned that some of the late payments have been made, while others have been ignored.
4. Treasurer’s Report – See attached report for details.
5. Property Owner Letter - Cathi received a letter from one of the property owners, asking our board of directors a lot of questions about our ranch and covenants. Cathi read the letter out loud and also her response to this owner, that she sent back.
6. Newsletter – Debby mentioned a few clarifications to the letter, and that she needs to have more envelopes for the mailings and for the returning proxies. She will include in the mailing, a year-to-date Treasurer’s Report, the proposed 2012 budget, and the 2010 Financial report. A notice about late payments will be included in the newsletter, stressing the fact that late fees will be charged with ALL late payments, after a certain grace period.
7. 2012 Budget – Tom presented the proposed 2012 budget figures for discussion with the board member. The budget was approved, after a few minor adjustments to the proposed figures.
The meeting was adjourned at 8:10 pm.
Board of Directors
President Tom Ossner
Vice President Alan Lucas
Secretary Horst Armbrust
Treasurer Cathi Scriven
Member-at-Large Tom Atchley