June 2008 Minutes >

Taberna Master Homeowners Association Meeting Minutes:  June 11, 2008

Bob Costanzo                                  President

Gene Peele                                     Vice President 

Suzanne Forsythe                          Treasurer

Alva Windham                                Secretary 

Representatives:

              Jim Krise

              Martha Daniels

              Steve Harman

Board members present:   Bob Costanzo, Gene Peele, Suzanne Forsythe, Steve Harman

Martha Daniels, and Alva Windham.

Jim Wilson, Chairman of Buildings and Grounds attended to discuss the beautification project.

Meeting called to order at 5:30PM by Bob Costanzo.

MINUTES:  After review of the May minutes, a recommendation to change wording “The Chairman of the Audit Committee” to “The Chairman of the Financial Committee, Bob Moore,” was made.  Changes are to be made reflecting this change.  Suzanne Forsythe made a motion to approve the minutes as amended.  Gene Peele seconded the motion.  Unanimously approved and accepted.

TREASURER’S REPORT:

Cash available as of 6/10/08 in the Master and Sub Assn. Operating checking accounts total $169,588.  Total accounts receivable at 6/10 total $9,485.

Liens:   Per prior Board authorization an additional lien was placed on a Taberna property.  There are currently seven outstanding liens totaling $1,605.  This total reflects receipt of a partial payment towards a current lien but which was not sufficient to clear it.

Income tax reimbursement:  Suzanne reminded the Board that in the 2008 budget approval process it had decided that the various Sub. Assns. should reimburse the Master HOA for their share of taxes paid based on the amount of taxable interest of each as compared to the total.   Interest earned is the main source of the tax liability for the HOA.  She requested the Board’s authorization to move forward for this invoicing.   Steve Harman made the motion to bill the sub-associations for their share of the taxes paid based on their percentage of taxable interest.  Gene Peele seconded the motion… Unanimously approved.

Finance Committee project updates:

   Reserve project:  This project is moving forward.

   Investment project:    Representatives from the Finance Comm. and Suzanne will meet shortly with an investment firm to determine if it is feasible and cost effective to move various investment funds out of a regular bank to provide better FDIC insurance coverage and better interest rates.  As the Finance Comm. and Suzanne will determine their recommendations before the next Board meeting, she requested that the Board give authorization for funds to be moved before this meeting based on what will be recommended by the Committee.   Steve Harman made a motion to give the Treasurer the latitude to follow through on recommendations from the Finance Committee for our investments; with the understanding that the Treasurer will FYI the Board members before any transactions take

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place.  Also, the Board will give final approval before any of these investments are carried through.  Gene Peele seconded the motion.  Unanimously approved.

   Cash Review & Audit Projects:  The Finance Comm. has almost completed reviewing the Sub. Assns. records and have found no discrepancies.  The Master will be reviewed upon the return of one of the people assigned to the review.   Interviews of CPA firms have been started in order to identify what CPA firm will be recommended to perform the audit of 2007-2008 records.

OLD BUSINESS:

BEAUTIFICATION PROJECT: 

Bob discussed what is the ‘definition’ of Taberna.  Definition includes all the land within an identified geographical area.  He presented a Weyerhaeuser map showing Taberna from a line at Sellhorne, around Brices Creek and coming out at the Battle Grounds; up to but not including the railroad tracks.  Weyerhaeuser had first defined Taberna and wrote exclusions for the Country Club and other business properties within Taberna.

This map was presented to the Board with the suggestion that, as part of the Beautification Project, 32 trees be purchased and planted along Taberna Way on Taberna Country Club property.  Much discussion was done as to whether Association funds can be used for upgrading private property within Taberna.  Prior to this meeting, Bob had obtained an opinion from Beth Atkins, our attorney, in which she stated that it was her opinion upon review of the Covenants that the Board was legally able to approve such expenditures. (see email from Beth Atkins attached)   Certain member(s) of the Board were of the opinion that even if the Board can legally spend HOA funds on non-Common Taberna property for the sole purpose of general beautification, that this type of expenditure would not be deemed appropriate by the residents.

Suggestion by Suzanne was made that would avoid the above question and permit the expenditure as a payment in kind with the understanding that these trees be purchased using HOA funds as compensation to the Club for their past, present and future maintenance of certain Common areas.  These areas include the Welcome to Taberna monument and flower bed at the corner of Taberna Way and Old Airport Rd which the Club has permitted us to place upon their property. 

Jim Wilson stated that the project would consist of the purchase of 32 trees by the HOA, with the Club planting and maintaining them.  According to Jim we have the opportunity to accomplish this major beatification project at 1/3 of the normal cost.  Our cost would be approximately $2,800.00. 

Gene Peele made a motion to authorize up to $4,000 in Beautification funds to use towards the purchase of 32 trees that are to be planted and maintained by the Taberna Country Club along Taberna Way between One Taberna Way and the Club’s entrance in exchange for the Club permitting the HOA’s placement of the Taberna welcome monument and planting bed on Club property at the intersection of Old Airport Road and Taberna Way, and for the continued maintenance of this entrance area at the Club’s expense except for the purchase of replacement plants.  Motion seconded by Suzanne Forsythe.  Motion approved.

COMMUNITY PICNIC:  Bob Costanzo, Bob Livingston, Ron McCausland, and Larry Alderson have volunteered to serve on the committee.  October 18, 2008 is the tentative date for the picnic.

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WEBSITE:  The website has been updated to include a tab for General Information.  Alva will send out a notice on TabMail.  All correspondence for the General Information page will come thru the President and Alva prior to posting.

WEBSITE MARKETING:   Gene Peele has arranged a meeting with Gretchen Leonard, one of owners of Taberna Country Club, to discuss our mutual interest in marketing Taberna.  Gene has also met with Steve Little, a local real estate agent, to discuss our marketing strategy.  Getting linked to other websites is of major concern.   

NEW BUSINESS

HOA ANNUAL MEETING:  The 2008 annual meeting will be moved from the Community College to Creek Side Elementary School this year.  No date has been set.

VIOLATIONS:   Jim Krise absent from the meeting.

The next regularly scheduled meeting of the THOA BOD will be held on July 8, at 5:30PM.

Meeting was adjourned at 7:10PM

Respectfully submitted by:

Alva R. Windham, Secretary