MINUTES I. CALL MEETING TO ORDER

Transcription

1 SURREY GRAND CROWNE RESORT OWNERS ASSOCIATION, INC. BOARD OF DIRECTORS MEETING Held at the Carriage Place Banquet Room Wednesday, May 16, 2018 Branson, Missouri 1:OOP.M.(CDT) I. CALL MEETING TO ORDER MINUTES Having established a quorum, the meeting was called to order at 1:31 p.m. (CDT). Board members and Trading Places staff in attendance were: Surrey Grand Crowne Board Members: Bonnie Nannen Vice President Steve Beckler Secretary / Treasurer Absent Board Members: Tom Barlow President Tradina PIaces International: Smith Toussaint General Manager Robin Neal Assistant General Manager Douglas L. Wilcox Sr. VP of Resort Operations Luis Moran Vice President HOA Accounting Casey Clayson Administrative Assistant The board asked Douglas L. Wilcox to chair the meeting. II. APPROVAL OF AGENDA Bonnie Nannen made a motion and Steve Beckler seconded the motion to approve the agenda with the addition of A. Reimbursement Policy under VII. New Business. The agenda was approved by unanimous affirmative vote. III. OWNER FORUM There were no owners present for the meeting. IV. APPROVAL OF MEETING MINUTES February 7> 2018 Board of Directors Meetine Steve Beckler motioned, and Bonnie Nannen seconded the motion to approve the minutes ofthe February 7, 2018 board ofdirectors meeting. The motion passed unanimously. May 16, 2018 Page 1 of5

2 March 6, 2018 Board ofdirectors Meeting Steve Beckler motioned, and Bonnie Nannen seconded the motion to approve the minutes of the Mareh 6, 2018 board of directors organizational meeting. The motion passed unanimously. V. REPORTS Management Report Robin Neal reviewed the second quarter management report with the board highlighting the improvements that have been made at Grand Crowne. Ms. Neal reported that in the last several months, staffhas been preforming maintenance to many ofthe buildings in the last few months and have now finished the office space for Mastercorp management that was caused by the move ofthe Information Center to Building 6. Vendor Contract Overview Robin Neal reported on the vendor contract overview chart and informed the board that the resort continues to use many of the same vendors. She also reported that TruGreen has been keeping the grass well maintained. Comments Summarv The board reviewed the TPI, RCI, II, and social media comments along with employee compliments. Occupancy Report Robin Neal reviewed and discussed the occupancy report with the board. Action Items Report The board reviewed and discussed the action items. Most action items have been completed except the removal of several dead trees around the property which was still pending. HOA Inventory and Deed Back Report Douglas L. Wilcox reported to the board that Grand Crowne Resort was now in possession of 523 intervals. There are also an additional 57 in the process ofbeing deeded back to the association. VI. FINANCIAL Financial Statement, Period Ended March 31,2018 Luis Moran reviewed the financial statements for the period ended March 31, 2018 with the board. Mr. Moran reviewed the income statement and each department's year-to-date Pagc 2 of 5

3 expenditures resulting in a surplus of $26,197 and a favorable variance to budget in the amount of $50,731. For the Sales Department Activity, Mr. Moran reported sales revenue in the amount of $9,930 and total expenses totaling $25,898. Steve Beckler made a motion and Bonnie Nannen seconded the motion to write off the following receivables from the balance sheet: A/R- Developer Activities, Due F/T CVO Whole Owner Lodge, Due F/T LCV Lodges CV, and Due T/F VCH Crown View Heights. The motion passed unanimously. Bonnie Nannen motioned, and Steve Beckler seconded the motion to accept the Mach 31, 2018 unaudited financial statements for filing. The motion passed unanimously. Delinquency Report The March 31, 2018 delinquency report was reviewed with the board indicating a delinquency rate of 34.65%, a 5.44% higher rate than March of Reserve Report Mr. Moran reported that the replacement fund had a balance of $39,090 for the period ended March 31, Financial Audit Luis Moran reviewed the 2017 financial audit draft by Fitzgerald and Associates which reflected an operating surplus of $61,893. Mr. Moran also reported that the operating fund ended with a balance of $363,859 and the replacement fund with a balance of $31,180 for fiscal year ending in Steve Beckler made a motion and Bonnie Nannen seconded the motion to transfer excess funds of $150,000 from the operating fund into the reserve fund. The motion passed unanimously. Steve Beckler made a motion and Bonnie Nannen seconded the motion to accept the December 31, 2017 audited financial statement and to sign the March 2, 2018 auditor's representation letter. The motion passed unanimously. VII. NEW BUSINESS There was no new business to discuss. VIII. CONTINUING BUSINESS Reimbursement Policy Bonnie Nannen made a motion and Steve Beckler seconded the motion to adopt the reimbursement guidelines as presented and discussed in the joint board meeting (Exhibit A). The motion passed unanimously. 'ITie Surrey Grand Crowne Resort Owners Association, Inc. Page 3 of 5

4 Replacement ofpenthouse Showers and Concrete Smith Toussaint provided the board with a status update on the replacement of penthouse showers and concrete and informed the board that he would be in contact via with options. IX. EXECUTIVE SESSION Steve Beckler made a motion and Bonnie Nannen seconded the motion to recess the regular meeting and enter into executive session at 3:15 p.m. (CDT) for the purpose ofapproving meeting minutes and discussing legal matters to adhere to the settlement. The board exited from executive session at 3:29 p.m. (CDT) and re-entered regular session. X. ADJOURNMENT A motion was made by Steve Beckler and seconded by Bonnie Nannen to adjoum the Regular Session. The meeting adjoumed at 3:32 p.m. (CDT). Submitted by: Trading Places Intemational Its: Managing Agent '") ^Z^-e^/ -/-S-T^- V Casey Ql^yson Admidi^trative Assistant Accepted by: Surrey Grand Crowne Resort Owners Association, Inc. Steve Beckler Secretary / Treasurer Page 4 of 5

5 EXHIBIT A Surrey Grand Crowne Resort Owners Association, Inc. Board ofdirectors Expense Reimbursement Guidelines The following guidelines for reimbursement of expenses incurred by board members in the performance of their duties were adopted by the Board of Directors on May 18, All requests for reimbursement should be submitted no more than sixty (60) days after the expenses are incurred. Board Meetinss 1. Airfare at the lowest available coach rate. 2. If accommodations are available at the resort, no other accommodation expenses will be reimbursed. If there is no availability, reasonably priced hotel accommodations for the number of nights corresponding with the dates of the meeting and one additional night for arrival/departure if needed. " For meetings held at Trading Places Intemational: o Up to three (3) night's accommodation for board members. 3. Parking expenses, airport parking or other toll fees associated with meetingtravel. 4. Rental car, mid-size or smaller. NOTE: Rental cars must be refueled upon return. The actual cost will be reimbursed. The Association will not reimburse for refueling by the rental company. 5. For meetings held at TPI, reimbursement is available for up to three (3) nights in accordance with paragraph 2 above. 6. Ifusing a personal vehicle rather than a rental, mileage at the prevailing IRS allowance. Mileage is not reimbursed if a rental car is used. 7. A per diem allowance up to $50 per day for meals and other expenses, includins one travel day before or after the meetins, or both, as needed. 8. Alcoholic drinks are not subject to reimbursement. 9. Expense reimbursements are reserved only to board and committee members and does not include travel expenses for spouse, family or friends or any other person who is not an active member of the board or a committee. Other Expenses 1. Reasonable expenses including, but not limited to, telephone charges, document copying, facsimile transmission, mileage, other transportation. 2. Other expenses as may be authorized by board action. AI1 expenses submitted for reimbursement must be accompanied by appropriate documentation, such as receipts, invoices, bills,etc. Page 5 of 5