MINUTES
Reflections of Walnut Creek II Owners Association
Board of Directors Meeting
December 14, 2005
Attending
| Richard
Kroop |
Rita Pierson |
| Marcus
Rowe |
Ed Dorotik |
| Stan Scheiber,
Beck and Company |
|
The meeting was called to order in unit #39 at 6:45
pm by Richard Kroop.
Minutes from October 17 Meeting
Marcus moved to approve the minutes as presented. Rita
seconded. Minutes were adopted by unanimous vote.
Financial Report
Stan Scheiber presented the financial report. There
were three delinquencies that have been sent to the attorney for collection.
At the end of November there was approximately $27,400 in cash in all accounts.
Utilities, in particular Water and Wastewater, continue
to be over budget for the year. The budget will be increased in 2006 to cover
higher anticipated costs.
Stan stated that, in some cases, the association has
been billed for meter reading charges when a unit changes owners. Stan is working
with Severn Trent to correct this determine what costs can be recovered from
the owners.
2006 Budget
Stan presented the 2006 budget for discussion. The
board discussed the fact that we will end the year with approximately $20,000
in all accounts, which reflects the fact that cash has been depleted by the
paint and siding repairs, which were more extensive than anticipated.
It is estimated that, given the amount of projected
revenues and expenses in the 2006 budget, the cash balance will be approximately
$80,000 by the end of 2006. Thus we will be well on the way to restoring the
reserve amounts needed for future capital projects.
Given this information the board determined that an
increase in fees for 2006 would not be necessary, barring any unforeseen circumstances.
The expenses for the pool will need to be increased
by approximately $6,500 for installing a Suction Vacuum Release Device in
order to comply with new City regulations. The pool will need to be drained
in order to install the new valve. The budget for utilities will also be increased
to cover anticipated increases in water and wastewater costs.
Other than these expenditures, the budgeted expenditures
and revenues will be similar to 2005.
Rita moved to approve the 2006 budget and Marcus seconded.
The motion was approved unanimously.
Other Matters
Owners are also responsible for the cost of replacing
water cutoff valves if the valves for their units are damaged. Owners need to
check periodically to see that their valves are not covered in dirt, which could
speed up the corrosion process.
Beck and Co. will send out surveys to the owners regarding
the paint and siding repairs. The amount in retainage will be released to the
contractor after completion of final repairs resulting from the surveys.
The fence along Gracy Farms between Reflections I and
II was not included in the project, but is in need of repair. Stan said that
he will work on getting a bid for the repairs. The pool fence and the remaining
perimeter fences along Swearingen and Gracy Farms are still in good condition.
Next Board Meeting
The next meeting is scheduled for Monday, February 20,
2005 at 6:45pm.
Marcus motioned to adjourn the meeting and Rita seconded.
The meeting adjourned at 8:00 p.m.
Respectfully submitted:
Ed Dorotik
Secretary
Approved February 20, 2005 by:
________________________________________________________________________
| Richard Kropp,
President |
Rita Pierson,
Vice President |
________________________________________________________________________
| Carter Rowles,
Treasurer |
Marcus Rowe,
Director at Large |