BOARD OF DIRECTORS & ORGANIZATIONAL MEETING. January 24, 2018 APPROVED MINUTES

Transcription

1 BOARD OF DIRECTORS & ORGANIZATIONAL MEETING January 24, 2018 APPROVED MINUTES A quorum was established: In Attendance: Mr. Larry Koshorek (Aberdeen) Mrs. Kay Hall (Brighton) Mr. Sy Holzman (Cambridge) Arrived at 10:15 a.m. Mr. Rich Ascolese (Devonshire) Mr. Syl Makowski (Hamptons) Mrs. Dorothy Schneider (Highgate) Mr. Tom Guequierre (Huntington) Mr. Choice Edwards (Lancaster) Mr. Ken Perkins (Manchester) Mr. John Higgins (Remington) Mrs. Margaret Lievertz (Stratford) Mr. Wayne Dobson (Sussex) Ms. Carol Pightling (Sutherland) Mr. Fred Thomas (Wellington) Ms. LuAnne Everitt(Whitehall) Leland Management Mrs. Kim Myers, LCAM Ms. Flory Barahona, LCAM Absent CALL TO ORDER The Board of Directors meeting for the Kings Ridge Community Association was called to order at 9:58 a.m.

2 ESTABLISH QUORUM PROOF OF NOTICE 14 of the 15 members were present; thereby establishing quorum. The notice was posted according to Florida Statute 720. VOTE OF OFFICERS Mr. Edwards made a motion and Mr. Makowski seconded the motion to nominate Ms. Schneider as President. Mr. Higgins made a motion and Mrs. Pightling seconded the motion to nominate himself as President. A silent ballot was completed by all members and the votes were verified by Mrs. Myers and Ms. Barahona. Mrs. Schneider won the vote by majority. All were in favor of the majority vote. Mrs. Schneider made a motion and Mr. Makowski seconded the motion to nominate Mr. Edwards for Vice President. All were in favor of the nomination. Ms. Schneider made a motion and Ms. Everitt seconded the motion to nominate Mr. Ascolese as Treasurer. Mrs. Lievertz made a motion and Mrs. Schneider seconded the motion to nominate Mrs. Pightling as Treasurer. A silent ballot was completed by all members and the votes were verified by Mrs. Myers and Ms. Barahona. Mr. Ascolese won the vote by majority. All were in favor of the majority vote. Mr. Guequierre made a motion and Mrs. Pightling seconded the motion to nominate Mrs. Lievertz as Secretary. Mrs. Schneider made a motion and Mr. Perkins seconded the motion to nominate Mr. Makowski as Secretary. A silent ballot was completed by all members and the votes were verified by Mrs. Myers and Ms. Barahona. Mr. Makowski won the vote by majority. All were in favor of the majority vote. APPROVAL OF MINUTES Mr. Koshorek made a motion and Mr. Dobson seconded the motion to approve the November 28, 2017 minutes. All were in favor. RATIFICATION OF AN VOTE Due to the time of receipt of the insurance renewal, the Board voted to unanimously accept the insurance renewal previously as proposed by vote in the amount of $50,790 which reflected an overall annual premium reduction of $1,080 or 2% over last year. Mr. Edwards made a motion and Mr. Makowski seconded the motion to ratify the vote. All were in favor of the motion.

3 MANAGER S REPORT The manager s report was given to all board members and meeting guests and will be posted in the Royal Times. Mrs. Myers pointed out four recent issues of concern that will be brought to the attention of the Covenant Enforcement Review Board and Covenant Enforcement Committee for possible fine and or suspension of use rights of common elements. Two of the issues involved residents reported allowing multiple guests through the resident only back gates. One resident removed and destroyed community property at the North Spa during closed hours and an additional family member of another resident used the North Spa during closed hours for approximately two hours causing several safety issues (staying in the hot tub for an hour and dripping puddles of water throughout the building). Ms. Schneider reiterated the importance of following the Rules and Regulations and asked everyone s help in saying something if you see something in order to make Kings Ridge a better and safer community to live in. FINANCIAL REPORT The November financial information was reported as follows: (Year end will be reported at the February meeting.) Community Association Operating Budget The HOA budget as of the end of November is $10.2K unfavorable. All expense categories are favorable, except irrigation, which is currently nearly $45K over budget. Clubhouse Operating Budget The Clubhouse budget as of the end of November is $48.4K favorable. Continued unfavorable Grounds expenses are more than offset by favorable expenses for Clubhouse maintenance and utility costs.

4 Cash Position at November, HOA Accounts Clubhouse Accounts KRCA Bank Operating Reserves Operating Reserves Res. Total Cash 439, , ,783 + Receivables (inc Assess.) 74,429 74,429 + Prepaid Expenses 5,865 6,370 12,235 Sub-Total 519, , ,447 - Payables/Accrued Exp 22,405 20,579 42,983 - Deferred Inc - Required SECO Deposits 32,620 39,795 72,415 - Prepaid Assessments 169, ,850 Sub-Total 295, , ,198 Reserves- Replacement 769, ,332 1,267,012 Club Capital Improvement 95,156 95,156 Reserves- Bank Required 352, ,361 Net Cash 294, , , , ,517 2,340,727 Mr. Ascolese stated the Board did not meet in December and several items repaired/replaced should be taken from Operating and spent from Reserves. This included: New pump starter from Insight Irrigation $15, New pump controller from Hoover Pumping Systems $ 5, IR2 pump vault electric damage due to storm $ 8, replacements head for both clubhouse saunas $ 6, ESP radio replaced $ 9, In addition, 10 clocks were replaced during 2017 due to severe wear and tear shown during scheduled preventative maintenance which totaled $39, Mr. Ascolese suggested these be taken from Reserves as well. Mrs. Pightling made a motion and Mr. Edwards seconded the motion to approve the expenditures to be taken from Reserves. All were in favor. Mr. Ascolese and Ms. Schneider suggested a Board Planning Workshop to review reserve items and major projects for the year. A reserve study will be completed prior to budget preparation and workshop again in August. Everyone was reminded there will be no voting at the workshop. A workshop is planned for Thursday, February 8, from 9:00 a.m. to noon in the Banyon room of the Clubhouse. Delinquencies The gross dues are $68,357 with an allowance for bad debt of $36,197 netting $32,160.

5 OPEN FORUM All board members not returning to the 2018 board were thanked for all of their service, hard work and dedication to the Board over the previous years. Thank you to Bill Miller, Joanne Hamel and Jim Purvis. Mr. Edwards reminded everyone that the next S.A.L.T. meeting will be Monday, February 12 at 10:00 a.m. An reminder will go out to everyone. Ms. Anne Bulmer asked about insurance on homes the Association takes over due to default on assessments. Mrs. Myers stated the rental homes are insured on the Master policy immediately upon taking title ownership. Mrs. Myers will obtain additional details from the insurance agent and share with the Board. The house which was burned down in the Brighton neighborhood was briefly discussed. The neighborhood/association attorney sent a letter to the attorney for the estate demanding reconstruction of the property to its original state. In addition, the City of Clermont Code Enforcement sent a letter to the estate attorney as well making certain demands to cleaning up the property by January 31. There being no further business, the meeting was adjourned at 10:42 a.m. The next meeting will be held on Wednesday, February 28 at 9:00 a.m. Respectfully Submitted, Kim Myers, LCAM