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January Minutes 2010>
Minutes of Board of Directors Meeting Taberna Homeowners’ Association January 6, 2010
Board Members Attending: Rick Layton President George McNulty Vice President Linda Pickens Secretary James Dugan Treasurer Willis Vincent Member at Large Russell Packard Member at Large John Serumgard Member at Large
Also Attending: David Pickens and Bob Costanzo, Members of Finance Committee
Rick Layton called the meeting to order at 5:30pm, there being a quorum present.
Minutes:
The Minutes of the December 9 Board of Directors Meeting, the December 15 Annual Meeting Minutes and the December 15 Post Annual Meeting Minutes were reviewed.
December 9 Board of Directors Minutes: John Serumgard requested that the "Welcome Home Sign" policy, the wording of which was approved by the Board subsequent to the Board meeting, be attached to the Minutes. Approval of the Minutes was tabled until the February meeting in order to make the requested change.
Annual Meeting Minutes: John Serumgard made a motion to approved the December 15 Annual Meeting Minutes which was seconded by George McNulty. The Minutes were unanimously approved and accepted.
Post Annual Meeting Minutes: George McNulty made a motion to approve the December 15 Post Annual Meeting Minutes, which was seconded by Russ Packard. The Minutes were unanimously approved and accepted.
Treasurer's Report:
The Treasurer gave the following report:
The invoices for the 2010 Master Dues and first quarter Sub-Association Dues have been mailed to all owners. Payment is due by January 31, 2010. Dues owed for the Master Homeowners Account for 2010 total $171,699. The amounts billed for 2010 Sub-Association Dues are as follows: $11,625 for Abbington Woods' $4,025 for Boleyn Creek Villas; $6,000 for One Taberna Way; and $1,350 for Taberna Landings.
Cash and Accounts Receivable: The cash in the operating checking accounts as of January 6, is $23,242.72 in the Master checking account and $15,718.08 in the depository account. The balances in the Sub-Association checking accounts are as follows: $2,236.63 for Abbington Woods; $1,684.75 for Boleyn Creek Villas; $16,008.81 for One Taberna Way; and $1,625.72 for Taberna Landings.
Liens and Court Cases: The Treasurer provided an update on the status of collecting upon the judgments won in Court against delinquent homeowners, and provided the status of existing liens on properties for non-payment of Dues. The Board discussed publishing the names of the homeowners on the website where the Court has entered a judgment in favor of the HOA. The President will consult with the HOA attorney to determine if there are any legal impediments to doing so. The Board also discussed its legal options with respect to collecting delinquent dues.
Financial Reporting: The Board expressed its desire to receive financial reports prepared by the HOA accountant in order to better fulfill its fiduciary responsibility. Russ Packard discussed the importance of receiving the actual reports prepared by the accountant for review and reconciliation purposes by the Finance Committee. Linda Pickens expressed interest in receiving monthly reconciliation reports so that the Board has a better understanding of actual expenses versus budgeted expenses. She also requested monthly delinquency reports so that the Board can better monitor delinquencies. Jim Dugan agreed to provide the accountant's reports to the Board, to prepare monthly delinquency reports for the Board which will preserve confidentiality requirements, and to provide the quarterly reconciliation reports received from the accountant. The Board requested that the Finance Committee develop a list of the types of accounting reports the Board should be receiving either monthly or quarterly from its accountant. The Finance Committee was also directed to review and advise the Board on a collections policy and how invoicing past due amounts can be streamlined. Russ Packard volunteered to liaise between the Board and the Finance Committee with these efforts. The Finance Committee is to make its recommendations to the Board by March. Jim Dugan said there may be additional costs involved in generating some of the reports not covered by the HOA's contract with the accountant, however, Russ noted that with the automated accounting software being used by the accountant the cost should be negligible.
Commercial Lots: The Treasurer brought to the Board's attention a discrepancy he noted with respect to one of the commercial lots. He reported that what was previously one lot had been formally subdivided into three separate lots, with each of the lots conveyed to three separate owners in 2007 and 2008. The three lots have continued to be assessed dues as one lot, with the amount due prorated among the three owners. After discussion, it was decided that Jim would prepare a Motion for the Board to consider at its February meeting imposing dues on each lot in accordance with the Covenants.
George McNulty made a Motion to accept the Treasurer's report, which was seconded by Russ Packard. The Motion was unanimously passed.
Open Items:
Web Site: Rick reported Gene Peele and Alva Windham are working on proposed updates to the websites. The erroneous covenants posted on the website have been removed.
Bank Easement: East Carolina Bank is having piping installed to assist drainage on the lot. Rick will check this month to see if the issue has been resolved.
Building & Grounds: Rick asked the Chairman of the B&G Committee to (a) provide their meeting dates so that a Board representative can attend and (b) to provide information on any plans they have for this year.
Four-Way Stop: Rick will speak with Denny Bucher to get him involved in reaching an agreement with the City as to installing permanent stakes to keep cars from driving on the grass at the 4-way stop sign at the entrance to Taberna.
HOA Office
Linda Pickens advised the Board that there is no record of who has keys to the HOA Office. She also advised the Board that there most likely are individuals who have not returned their HOA key once leaving a Committee or the Board. Given the sensitive and confidential nature of the records kept in the office, she requested authorization to change the lock on the HOA office. Linda made a Motion to have the lock changed and to distribute keys to all Board members and to the chairmen of the B&G, ACC and Finance Committees, which was seconded by John Serumgard. The Motion was unanimously passed.
Resolution:
Jim Dugan advised the Board that, in order to change the individuals authorized to sign HOA checks, a resolution needed to be passed by the Board. After discussion, the Board agreed that the Treasurer and the HOA accountant would be authorized to sign checks. Therefore, on a Motion made by George McNulty to pass a Resolution, which was seconded by John Serumgard, the Board unanimously passed the following Resolution:
Resolution: Be it resolved that the Board of Directors of the Taberna Homeowners Association have authorized James Dugan, Treasurer of the Board of Directors, and Mona Kay Sadler, the accountant for the Taberna Homeowners Association, to sign checks on behalf of the Homeowners Association.
Covenant Violations:
Willis Vincent discussed the year-end report of 2009 Covenant violations. Willis noted that a majority of the violations involved trash receptacles and that a spreadsheet is kept to track violations.
Survey Results:
Linda Pickens discussed the results of the survey and possible actions that the Board may take to address the key issues identified by residents. The Survey showed that a majority of the residents feel that violations of the Covenants and Rules are a problem in Taberna. Willis Vincent noted that 90 violations of the Rules and Covenants were cited in 2009. It was noted that, since violations are handled directly with the offending homeowner, residents might not be aware that violations are being identified and acted upon. The Board discussed ways in which it can make residents more aware of Covenant and Rules enforcement while still maintaining the anonymity of the violators. It was decided that the year-end Violation Summary Report will be published in the Taberna Tribune, along with an article discussing the process whereby Covenant and Rules violations are handled so that residents are knowledgeable about covenant enforcement activities. It was also decided that the Board needed to better communicate with residents what the Covenants and Rules are so that residents can readily access the information. Linda Pickens, Willis Vincent and John Serumgard will work on preparing the Rules and Covenants in a more user friendly format for posting on the website.
2010 Board Goals:
The Board discussed establishing specific goals for 2010. Willis Vincent will take the draft of the goals and refine them for further discussion at the next meeting.
Audit:
The Board discussed the various types of audits available. Although the Finance Committee periodically reviews certain financial records, the Association's books and records have never been audited by an outside professional. Russ Packard advised the Board on the types of audits available. The matter has been referred to the Finance Committee for their input and advice.
There being no further business before the Board, a Motion was made by George McNulty to adjourn, which was seconded by Jim Dugan. The Motion passed and the meeting was adjourned at 8:27 pm. The next meeting of the Board of Directors will be February 3, 2010.
Approved by the Board of Directors:
/s/ 02/03/06 By: Rick Layton, President Date:
Tracking Period—February 1, 2009 through December 31, 2009. No monitoringwas done in January 2009.
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