September 17, 2024 Board Meeting Review
Directors Present: Edward Lee, Tom Werling, Andre LaBreche, Patrick Whitfield
▪Minutes Approval July & August 2024:
Motion to Approve July 2024 Executive and General Minutes 4-0. Board shouldn’t approve Executive Minutes in General Session.
▪Homeowners Forum
Homeowner #1 – Notification of coyotes in the community hovering around the pool area. Concern about safety of members and their families, especially children and pets.
Board Response: No obligation of the Board to address a coyote issue since coyotes are protected. Reporting can be made to the local animal control or state agency.
Homeowner #2 – Issue regarding a repair causing a payment assessment to member.
Homeowner #3 – Emphasis on the scope of coyotes permeating the community on a daily basis.
▪Financial Report
Motion to approve August Financials 4-0.
2025 Reserve Study – Waiting for report.
2023 Audit Status – Waiting for status.
Taxes – 2023 Taxes filed.
Investment Policy – Effort to simplify policy. Motion to approve policy. Approve 4-0.
-Cash Liquidity – Will have $415,000 liquid in the coming weeks
-Expected reserve outflow
-Keep investments under $250,000 per financial institution
-Don’t invest in any investment tool for more than 3 years
-Movement of investments. Approved 4-0.
Morgan Stanley – Hire Morgan Stanley to manage the Association’s reserves; No cost to the association for Morgan Stanley to manage investment policy; MS is not a fiduciary; Board provides investment guidelines and instructions.
Reserve Account Consolidation – Not Aware of a discussion.
▪Management and Directors Report
Insurance Renewal – Renewal expires on October 15th. Desire from 1 director to raise Property Deductible to $50,000 from $10,000 to save money on the yearly insurance rate. It was unclear if the Board approved 4-0 on the insurance coverage or the insurance fee for 2025 with a cost not to exceed $83,000.
Repairs
1st Avenue Construction – Motion to approve work that was already completed. 3-0-1 abstention.
Aquatrends – Motion to approve $1571 for desooting regarding pool issue. Approve 4-0. Want to meet with Aquatrends to discuss “why are we fixing things all the time”.
Landscaping: Artistic – Approved $350 to tree removal by a vote of 4-0.
Work Orders
Artistic – Walk with Elmer and take photos regarding $1200 worth of irrigation repairs.
