June Minutes 2010 >

Minutes of Board of Directors Meeting

Taberna Homeowners’ Association

June 2, 2010

 

 

Board Members Attending:

Rick Layton                   President

George McNulty             Vice President

Linda Pickens               Secretary

Willis Vincent                 Member at Large

Russell Packard            Member at Large

John Serumgard            Member at Large

 

Absent:                          James Dugan, Treasurer

 

 

 

Also Present:  Residents Helen Ilsley, Linda Elsass, Don Elsass, and Jim Gruenebaum;

Bo Wernersbach, Sidge Olszewski, and David Pickens, member of the Todd Denson Park Proposal Committee

Bob Costanzo, Finance Committee Chairman

 

 

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

 

 

Lake Lehman:

 

Jim Gruenebaum presented the Board with a proposal to restock Lake Lehman with fish.  Jim indicated that there is a lot of pressure on the fish in the Lake due to a number of causes including, wildlife such as turtles, eagles, heron, snakes, frogs, and other species eating the fish.  There is additional loss due to the stress on the fish caused by the catch and release policy, all of which has an impact on the fish population.  Jim requested that the HOA restock the Lake on a regular basis.  Jim volunteered to contact the NC Fish and Wildlife Service for advice on how often to stock and with what species.  Linda Pickens made a Motion to use the $249 Supplemental Dues paid by the 17 properties bordering Lake Lehman to restock the fish in the Lake based on the recommendation of the Fish and Wildlife Service.  The Motion was not seconded.  It was determined that Jim will provide the information obtained from the Fish and Wildlife Service, along with the projected cost, to the Board for approval at a later date.

 

 

Finance Committee:

 

Bob Costanzo informed the Board that the Finance Committee was able to review the utility bills.  Bob and David Pickens met with City officials to discuss the utility bills and determined that the HOA was paying approximately $600 per month for water and electric services not used or needed because the water meters were not shut off during the months when irrigation was not used.  As cost of water is significantly over Budget this year, shutting off the water meters during the winter months would significantly lower the cost without damaging landscaping.  Bob also addressed the potential of generating revenue for the HOA by allowing local businesses to advertize on the HOA website.  Revenue generated by the ads would totally offset the cost of upgrading the site.

 

Minutes:

 

Willis Vincent made a Motion to approve the Minutes of the May 9, 2010 Meeting, which was seconded by Russ Packard.  The Minutes were unanimously approved and accepted.

 

 

Treasurer's Report:

 

Jim Dugan was absent from the meeting, but provided his report which is attached.

 

John Serumgard researched the NC lien statutes to provide further information to Jim to ensure that we follow all requirements when attaching liens to properties.

 

 

Todd Denson Park Proposal:

 

Input was received from residents regarding the Park Proposal, the majority of which were positive; only one negative comment was received.  The Board discussed cutting back some of the brush in a small area bordering the Park to improve safety.  Bo Wernersbach and David Pickens answered questions from the Board concerning any permits that may be required to cut back brush in the wetlands area.  Based on initial research, it did not appear that permits would be required.  Linda Pickens made a Motion to approve the Park Proposal in its entirety at its projected cost, with the exception of clearing the brush pending approval and permits by relevant State agencies, which was seconded by Willis Vincent.  The Motion was unanimously passed.  Rick requested that Bo work with B&G prior to clearing any brush in the winter, if approved by the State.

 

 

HOA Website:

 

Linda Pickens reported on upgrading the HOA website.  It is the position of the Website committee (John Serumgard, Willis Vincent and Linda Pickens), that we utilize a professional HOA web site hosting service.  The annual cost of using a professional HOA website would not be significantly increased from the current website host and could be offset in its entirety by placing ads on the website.  The Board agreed to pursue choosing a professional HOA website hosting service.  Rick will consult with Wayne Maruna to obtain his input on website hosting.  Willis suggested that a Board member who will be on the Board in 2011 be involved in this process for purposes of continuity.

 

 

Architectural Control Committee:

 

The Board discussed the pros and cons of adopting a rule to require notice to adjoining neighbors of any architectural change request which falls outside the permitted architectural guidelines.  After a lengthy discussion, the Board decided to ask the Architectural Control Committee to meet with the Board to discuss modifying the existing procedures.

 

Covenant Violations:

 

Willis Vincent reported there were 6 Covenant violations cited in May, including 2 for boat violations, 1 sign violation, 1 for trash receptacles, 1 for motor home violation, and 1 for above-ground pool violation.

 

 

There being no further business before the Board, Linda Pickens made a Motion to adjourn, which was seconded by George McNulty.  The Motion passed and the meeting was adjourned at 8:00 pm.  The next meeting of the Board of Directors will be July 7, 2010.

 

 

 

Approved by the Board of Directors:

 

 

 

              /s/                                                                  7/7/10                 

By:   Rick Layton, President                                               Date:

 

 

Treasurer’s Report
James Dugan, Treasurer
Wednesday, June 2, 2010

The status of 2009 aged receivables is as follows:

Taberna Master HOA had three court cases in the fall of 2009:

• The first payment plan is with an owner who agreed to the plan before the court date. The owner is paying in accordance with the plan. Balance owed is now $245.00.
• The second payment plan is for one of the two judgments. The owner is paying in accordance with the plan. Balance owed is now $661.00.
• The other judgment is probably not collectable until the house sells and the judgment gets paid at closing. If it goes to bank foreclosure, we will probably not receive anything. Balance owed is now $1,445.50.

Note: Late fees “accrue” during the payment plans in the event of a default, but are “forgiven” if
              the payment plan is completed.

The remaining 2009 Taberna Master and Sub-Association dues assessments have been paid or otherwise resolved.

 

The 2010 Taberna Master HOA dues were 97.7% collected as of May 25th.

Total Aged Receivables were $11,228.83 as of May 25th. Of these, $5,803.83 are over 90 days due.

 

Placing Liens: A letter of intent to lien, statement of account, and invoice for late fees, were sent to 18 HOA accounts and 1 Boleyn Creek account stating the intent to lien accounts not paid by May 31st. One OTW account had a discrepancy in the account statement and that letter was mailed late; that intent to lien was for accounts not paid by June 15th. As of May 25th, only one of the twenty had paid their account in full. One of the 18 owing HOA dues is to be sold at a Foreclosure Sale on June 4th.

John Serumgard has offered to assist in the legal steps to place the liens. (Refer to recommended motion at the end of this report.)

 

First Quarter 2010 Sub-Association dues status:

Abbington Woods:      1 account is to be assessed late fees on 1st quarter dues paid  by May 31st.

Boleyn Creek:              1 account is to be assessed late fees on 1st quarter dues not paid by May 31st.

One Taberna Way:     1 account is to be assessed late fees on 1st quarter dues not paid by May 31st.

Taberna Landing:       All of the first quarter sub-assn dues have been paid.

 

Second Quarter 2010 Sub-Association dues status:

Abbington Woods:      8 accounts are to be assessed late fees on 2nd quarter dues not paid by May 31st.

Boleyn Creek Villas:   2 accounts are to be assessed late fees on 2nd quarter dues not paid by May 31st.

One Taberna Way:     2 accounts are to be assessed late fees on 2nd quarter dues not paid by May 31st.

Taberna Landing:       All of the second quarter sub-assn dues have been paid.

 

Invoices and Statements: In accordance with the motion approved at the last board meeting, invoices now state that invoice is due upon receipt. Statements of Account are now mailed with invoices.

 

HOA Invoices: All invoices received by May 25th have been forwarded to the Accountant for payment.

 

HOA General Ledger: In accordance with the motion approved at the last board meeting, Account 407, Community Beautification, has been divided into Account 407, Community Beautification – General, with a budget of $4,000, and Account 408, Community Beautification – Todd Denson Park, with a budget of $6,000. The two line items will be combined into Community Beautification for the quarterly and annual reports.

 

Branch Banking and Trust Accounts:        Beginning of Year          March 31st            May 24th                                                                                 End of Year                End of Quarter           (Online)                  

                                                                                                        

Taberna Master Deposit Account (IDA)       $15,805.08                          $134,478.49           $114,710.37

 Taberna Master Operating Account               15,540.49                              20,880.38               23,370.04           

Abbington Woods Operating Account               1,990.14                                8,040.58                 9,656.05

Boleyn Creek Villas Operating Account            1,543.43                                 1,969.04                3,583.82

One Taberna Way Operating Account1           5,858.85                                16,394.85               17,364.05              

CD                                                                   8,616.30                                 8,616.30                 8,616.30

Taberna Landings Operating Account              1,510.72                                  2,355.72                 3,584.20                

Taberna Landings CD                                       5,034.67                                 5,034.67                 5,034.67

                                                                                                                                                                                           

 

Scott & Stringfellow:                                  Beginning of Year             March 31st              May 24th   

                                                                       End of Year                     End of Quarter           (Online)

Taberna Master Reserve                                     $96,453.69                        $97,452.27              98,608.01

Taberna Emergency Reserve                                50,693.54                         50,990.86                51,569.60

Abbington Woods                                                 12,529.11                         12,662.01               12,701.46

Boleyn Creek Villas                                                3,994.58                           4,021.87                 4,027.02

One Taberna Way                                                 38,316.52                        40,448.14                42,486.00

Taberna Landings                                                  12,598.88                        12,599.46                12,705.59

   

“Online” bank balances do not reflect checks and deposits that have not cleared the bank.

“Online” S&S balances include unrealized gain/loss amounts.

All of Taberna’s investments with Scott & Stringfellow are in FDIC insured CDs or money market accounts. As CDs mature and as cash accounts reach over $1,000, they are being reinvested in new CDs in $1000 increments except in the case of Taberna Landing. Taberna Landing has cash-on-hand of $4599 to cover the projected 2009 expenditure for roadwork that has not yet taken place.

 

First Quarter Financial Reports:

The First Quarter Financial Reports have been emailed to the HOA Board of Directors and Finance Committee.

 

Motion:

The letter, statement, and latest invoice sent in May is the first step in the placing of liens. I propose a motion that the procedure of placing liens on 17 HOA, 1 Boleyn Creek, and 1 One Taberna Way past due account properties continue. I can provide the accounting documents necessary, but need to have either John Serumgard, the Adjudicatory Committee, the HOA attorney, or a combination of the three, handle the legal proceedings.