July 2008 Meeting Minutes >

Taberna Master Homeowners Association Meeting Minutes:  July 08, 2008

 

Bob Costanzo                                 President

Gene Peele                                     Vice President 

Suzanne Forsythe                            Treasurer

Alva Windham                                Secretary 

Representatives:

              Jim Krise

              Martha Daniels

              Steve Harman

 

Board members present:   Gene Peele, Suzanne Forsythe, Steve Harman, Jim Krise, Martha Daniels

 

Meeting called to order at 5:30PM by Gene Peele.    Quorum present

 

MINUTES:   Suzanne Forsythe made a motion to approve the June minutes.  Martha Daniels seconded the motion.  Unanimously approved and accepted.

 

TREASURER’S REPORT:

 

Cash available as of 7/7/08 in the Master and Sub Assn. Operating checking accounts total $140.241.  Total accounts receivable at 7/7/08 total $34,615 and reflects the July invoicing for bush hogging, and the 3rd quarter and last half of 2008 Sub. Assn. dues.

 

LIENS:   Currently there are seven outstanding liens totaling $1,405.  The Treasurer requested authorization to place nine new liens totaling $3,840 on properties who continue to owe on assessments and late fees.  These property owners will be sent a warning letter this week demanding payment by July 31st.  If not paid by then, liens will be placed upon those properties.  A motion was made by Gene Peele for the Board to give authorization to place the liens upon these properties.  Motion seconded by Steve Harman.  Motion passed unanimously.

 

FINANCE COMMITTEE PROJECT UPDATES:

   Cash Review Project:  The Treasurer distributed the report submitted by the Finance Committee as a result of their in depth review of cash transactions of the 2007 books of record.  Their research revealed no discrepancies and found all procedures were followed. (Copy attached)  She stated that the Committee will review the 2008 books after the publication of the 2nd quarter financials.

Discussion followed as to whether a full audit by an outside auditing firm would be cost effective as the cash review appears to have found no issues of concern, and that these reviews are expected to continue into the future.  The Board may entertain the idea at a future meeting of a less detailed audit which may be less expensive than a full audit of all systems and procedures, or whether an audit should be done at this time.

  

   Investment Project:    The Recommendation report from the Finance Committee and the Treasurer that had been distributed to the Board members prior to this meeting was reviewed.  (Copy attached)

As recommended by this report, a motion was made by Steve Harman for the Board to recognize the importance of safeguarding and preserving the principal amount of HOA funds and yet  earn a reasonable rate of return; and that all Reserve funds are to be maintained in CD’s, money market accounts and / or other Federally backed monetary instruments only.  No funds may be invested in other instruments or investment vehicles such as stocks, corporate bonds, real estate, etc. that may jeopardize the principal.  Seconded by Martha Daniels.  Motion unanimously approved.

                                                                                                                Continued…

HOA minutes of July 8, 2008                                                                                        page 2 of 2                     

A motion was made by Martha Daniels to accept the Finance Comm. and Treasurer’s recommendation to engage Scott & Stringfellow, an independent investment brokerage firm owned by BB&T, for the placement of the Master and Sub-Association Reserve funds into appropriate investment instruments.  Seconded by Jim Krise.  Motion unanimously approved.

 

Other:    The Treasurer announced the resignation of Phil Buffa from the Finance Comm. and nominated Russ Packard as a candidate for membership.  The Board accepted Russ’ nomination.

 

OLD BUSINESS:

 

WEBSITE MARKETING:  Gene updated the Board as to ongoing discussions the Committee has had with Gretchen Leonard of Taberna Country Club and others about various ideas of promoting the Community.  Ideas for combining media efforts and advertising with the Club had been discussed. Online access and visibility is believed important.   The Committee is continuing its efforts.  Steve suggested that Gene contact BB&T relocation and mortgage officers to determine whether they may offer suggestions or be able to partner with us in some manner.

 

COMMUNITY PICNIC:   There will be an article in the next Taberna Tribune to announce the picnic for Oct. 18.  It will request additional volunteers to help.

 

BEAUTIFICATION:

A notice from an Emmen Road resident has been received requesting additional landscaping along Emmen.  This issue will need to involve Jim Wilson, Chairman of the B&G.  Question is put off until next meeting.

 

Martha reported that a Friburg Road resident has asked a question about the wetland area behind her property as to who is responsible for maintaining this area so that it does not impede the water flow after heavy rains.  Jim Krise will visit the site and find out whether this area is maintained by the City.

 

 

NEW BUSINESS

VIOLATIONS:   Jim Krise presented the July list of covenant violations.  No action by the Board is required at this time. (Copy in the permanent files)

 

GOOD of the ORDER:

Suzanne asked whether stop signs can be placed at the Dunkin Donut entrance/exit in order to reduce the possibility of traffic accidents after several near-misses were reported in the Tab Mail.  Gene reported that the developer is being contacted to add a stop sign.  (Note:  Subsequent to this Board meeting, the developer did place a stop sign at the exit onto Taberna Way from the property.)

 

The next regularly scheduled meeting of the THOA BOD will be held on August 19, at 5:30PM.

Motion to adjourn made by Suzanne Forsythe and seconded by Martha Daniels.  Motion passed.

Meeting was adjourned at 6:48PM

 

Respectfully submitted by:

 

 

 

Suzanne Forsythe, Acting Secretary