February Minutes 2009 >

Minutes of Board of Directors Meeting

Taberna Homeowners Association

February 11, 2009

 

Board Members Attending:

Gene Peele                                   President

Linda Pickens                               Secretary

Suzanne Forsythe                       Treasurer

Steve Harman                              Member at Large

Willis Vincent                                Member at Large

Rick Layton                                  Member at Large

 

Absent:                                        George McNulty, Vice President

 

 

Resident Attending:

 

Don Loudin, Abbington Woods representative.

 

 

Gene Peele called the meeting to order at 5:30 pm, there being a quorum present.

 

Minutes:

 

Gene Peele made a motion to approve the Minutes of the January 21, 2009 Meeting.  A Motion was made by Suzanne Forsythe to approve the Minutes, which was seconded by Rick Layton.  The Minutes were unanimously approved and accepted.

 

Treasurer’s Report:

 

Suzanne Forsythe gave the following report:

 

Cash and Accounts Receivable:  Total combined cash in the Master and Sub-Association checking accounts as of February 11, 2009, totaled $201,252.  Total Accounts Receivable as of February 11, 2009 totaled $43,517, which represents approximately 150 owners who have failed to pay the 2009 dues by January 31, 2009.   The Treasurer stated that she will be mailing out friendly reminder letters in mid-February to the delinquent homeowners.  No late fee will be imposed if payment is received by the end of February.  The Treasurer indicated collection totals to date are similar to the amount collected at this time in 2008.

 

Late Fees and Liens:  Seven late fee invoices for Jan. 31, 2008 overdue accounts receivables were issued this past week.  Eight liens totaling $2,323 against five property owners continue to be outstanding.

 

Investments:  A schedule of current Reserve investments was distributed to Board members prior to the meeting for review.  The Finance Committee had discussed these investments at their meeting on Feb. 6, and made the following recommendations and comments for the Board’s consideration:

 

• Master Individual Depository Account:  The Finance Committee reviewed this account for possible partial reinvestment into a higher earning insured investment.  The cash balance normally maintained in the checking accounts at BB&T early in the year is in excess of the normal FDIC insured limits, and it was thought prudent to remove some of the funds to other institutions until needed for expenses.  The current rate of interest at the IDA is 1.25%.  However, the current rates for the short term CD’s into which the funds may be transferred are less than this rate.  Therefore, the Committee recommended that the funds remain in the IDA account at this time.  The Board concurred with this recommendation.

 

• Master Operating Contingency Reserve Fund:  A $5,022 Certificate of Deposit has been maintained at BB&T Bank rather than moving it to the investment firm of Scott & Stringfellow as the BB&T rate of return in October 2008 was competitive as compared to available returns at Scott & Stringfellow.  The BB&T CD’s interest rate fluctuates with the Treasury rates and currently pays .25% and matures April 1, 2009.  The Finance Committee recommended that the CD be closed only if doing so did not incur any penalties.  The Board discussed this and, given that the maturity date is less than two months away, decided to wait until the CD matures. 

 

• Reserve Deposits:  Treasurer requested authority to make the One Taberna Way quarterly deposit of $1,580 during February instead of waiting until the end of March.  The Treasurer also requested that the Master Replacement Reserve budgeted at $10,000 be invested in February instead of waiting until December as has been the case in the past.  The Board agreed to allow the Treasurer to make the early deposits.

 

The Treasurer advised the Board that other Certificate of Deposits are deposited in banks that could possibly fail at some point in the future.  The Treasurer assured the Board that should any of the banks holding HOA CDs fail, it is likely the bank acquiring the failed bank’s assets would pay off the CD balances or, the worst case scenario, that the FDIC would pay the HOA the amount of the CD resulting in no loss to the HOA.

 

The Treasurer will be reviewing past invoices to determine the cause for the year-end actual water costs being almost twice what was budgeted and will report back to the Board in March.

 

A Motion was made by Steve Harman to approve the year-end financial report, which was seconded by Rick Layton.  The report was unanimously approved and accepted.

 

Open Items:

 

The Board reviewed a list of open/ongoing items to be addressed by the Board in 2009.

 

• Insurance Claim:  In response to a September, 2008 letter from a homeowner requesting reimbursement for tree damage to the house, the claim was forwarded to Taberna’s insurance agent for handling.  The Board received a response from the insurance company stating it will deny the claim due to the failure of the homeowner to provide the requested information to substantiate the claim.  This matter is now considered closed.

 

• Tree Removal Policy:  With respect to the revised tree removal policy, Gene Peele confirmed with the Chairman of the Architectural Control Committee that, in light of the revised policy, the ACC had thoroughly reviewed its past decisions denying requests from homeowners to remove trees and found none requiring a change in their original decision.  This matter is now considered closed.

 

• Sediment Drainage:  In response to a complaint from a homeowner regarding sediment drainage from an unimproved lot, a letter was sent to the owner of the lot requesting action be taken to curb the sediment drainage.  In response to that letter, the owner took quick and effective steps to address the sediment drainage.  There is an additional adjacent lot which is also having a sediment drainage issue, and Gene Peele will send that owner a letter requesting similar action be taken to curb the sediment run-off.

 

• Fence Easement for Front Entrance:  No action taken.

 

• Budget Process Procedure.  No action taken.

 

• Landscaping Maintenance Contracts;  Gene Peele will be attending a meeting of the Building and Grounds Committee on Feb. 18 in connection with the bidding and review of various landscaping maintenance contracts later this year.  Suzanne Forsythe informed the Board that the Finance Committee desires to have better communication between the B&G and Finance Committees.  Gene Peele stated that B&G is responsible for establishing the specific contract requirements and for reviewing the bids received.  He noted that B&G reviews the bids received and makes a presentation to the Board regarding their recommendations and suggested it may be helpful for members of the Finance Committee to be present when that presentation is made.  Suzanne Forsythe noted the Board’s request last year to break up the one large contract into separate sections to enable smaller landscaping firms the opportunity to bid on the contract.  She also noted there is no requirement to accept the lowest bid.  A discussion ensued as to contract requirements in terms of insurance held by the landscaping companies and the specifics of the contract requirements.

 

• Beautification Plan:  Gene Peele reviewed prior Board Minutes to have a full understanding of the nature and extent of the Beautification Plan.  He noted that the 2008 Board instructed the Building and Grounds Committee to focus its beautification efforts on the front entrance of Taberna.  B&G has allocated approximately $11,800 of its 2009 budget of $20,000 for work on the two front islands and improvements along that portion of the roadway.  Gene will receive specifics from B&G on its plans for the remainder of its expenditures when he attends their meeting on Feb. 18.  The Board agreed that this would be the last year of funding the beautification project and that any future projects of this scope and expense should be undertaken only with input from residents.  Polling residents as part of the Annual Meeting was discussed.  Suzanne Forsythe requested an updated list of landscaping improvements for 2009 being considered by B&G under the Beautification Plan for review by the Finance Committee.

 

• Proposal for Basketball Court:  The Board decided that the residents be polled as to whether there is sufficient homeowner interest in having a half-court basketball court built to justify the cost.  The Board agreed to have the President put an article in the Taberna Tribune and provide an email address where residents could vote on whether or not the Board should pursue this project.

 

• Annual Community Picnic:  The Board discussed whether to hold the Annual Community Picnic this year.  Gene Peele will address the Community Picnic in his next President’s Message to be published in the Taberna Tribune.

 

• Community Building in Todd Denson Park:  Constructing a community building in Todd Denson Park was brought up at the 2008 Annual Meeting.  The Board concurred that, due to the lack of utilities at the site and the prohibitive cost of constructing such a building, the project will not be pursued.  A motion to take no further action with respect to constructing a community building was made by Rick Layton, which was seconded Suzanne Forsythe.  The motion was unanimously approved and accepted

 

• HOA Office Lease:  The Lease on the present HOA office expires on April 30, 2009.  A Motion to negotiate and enter into another two-year lease was made by Steve Harman, which was seconded by Rick Layton.  The Motion was unanimously approved and accepted.

 

• Taberna Country Club/HOA Agreement on Landscaping:  Gene Peele will follow-up with the HOA’s attorney to determine the status of preparing an agreement concerning the landscaping improvements made on Country Club property.

 

Abbington Woods:

 

Don Loudin discussed with the Board the numerous Covenant violations observed by the Abbington Woods Representatives.  It was determined that it is the responsibility of the Board to notify residents of Covenant violations rather than the responsibility of the Abbington Woods Representatives, and they will work with Willis Vincent to have written notification of the violations sent to the residents.  The Representatives believe that, due to the high number of rental homes in the community, many of the residents have no knowledge that the Taberna Covenants exist.  The Representatives want to send out a questionnaire to residents of Abbington Woods to survey their opinion of issues affecting Abbington Woods.  Suzanne Forsythe requested a copy of the questionnaire be provided for review prior to its being sent out.  The issue of possible City Code violations was also discussed and it was determined that those violations will be forwarded to the City for action.  The Board was informed that Dave Myers and Don Loudin will be the Representatives responsible for providing input on the landscaping contract for Abbington Woods.  Wayne Picciano has resigned as a representative of Abbington Woods.

 

Liens:

 

The Board requested that the Treasurer provide information on the current liens on properties for non-payment of the homeowner dues.  It is the Treasurer’s position that, in order to protect the privacy of the delinquent owners, the Board should not receive information identifying which owners have liens recorded on their property; however, the Treasurer did provide for the Board’s review a summary of the lien amounts and late fees without identifying the specific properties.  The Board reviewed the lien amounts and discussed what steps can be taken to collect the amounts due.

 

Violations:

 

Willis Vincent provided the Board with a report on Covenant violations and the process and procedures by which they will be addressed in the future.

 

Review of 2009 Budget

 

The review of the 2009 Budget with respect to items funded was tabled until the next meeting.

 

The next meeting of the Board of Directors will be held on Wednesday, March 11, 2009 at 5:30 pm.

 

There being no further business before the Board, Suzanne Forsythe made a motion to adjourn, which was seconded by Steve Harman.  The motion was approved, and the meeting adjourned at 7:13 pm.

 

 

 

 

 

Approved by the Board of Directors:

 

 

By:                                     /s/                                                     Date:                    11 Mar. 2009    

              Gene Peele, President