May Minutes 2010
Minutes of Board of Directors Meeting
Taberna Homeowners’ Association
May 5, 2010
Board Members Attending:
Rick Layton President
Linda Pickens Secretary
James Dugan Treasurer
Willis Vincent Member at Large
Russell Packard Member at Large
John Serumgard Member at Large
Absent: George McNulty, Vice President
Also Present: Tere Otere, resident; Dick Turner, Architectural Control Chairman
Rick Layton called the meeting to order at 5:30pm, there being a quorum present.
Fence on Biel Road.
Complaints from residents were received by the Board and the ACC regarding a fence built on Biel Rd. The fence, which extends beyond the allowable fence envelope, was approved by the ACC. Dick Turner presented the Board with the background and reasoning which was the basis for granting an exception to the fence guidelines. Tere Otere stated her opposition to the exception granted by the ACC and its impact on neighboring properties. Dick Turner agreed to measure the fence to determine whether it was built as approved by the ACC.
Sellhorn Fence Issue:
Rick Layton received a complaint from the Sellhorn HOA regarding trees and vegetation growing through and over the fence on properties in the Sellhorn community. The homes experiencing the growth through the fence have a common property line with lots on Kriens Ct. The Board determined that the HOA cannot compel property owners to trim trees and vegetation based on complaints from a neighboring community. As the fence is located on the lots in Sellhorn, the Taberna HOA is not responsible for damage to the fence. Jim Dugan made a Motion to send letters to three properties on Kriens asking that they trim back the vegetation along the fence line, which was seconded by Russ Packard. The Motion passed; Willis Vincent abstained. Rick Layton will prepare and send the letters to the residents and will also let the Sellhorn HOA know what action has been taken.
Minutes:
Willis Vincent made a Motion to approve the Minutes of the April 7, 2010 Meeting, which was seconded by Russ Packard. The Minutes were unanimously approved and accepted.
Treasurer's Report:
The Treasurer provided his report which is attached.
Russ Packard made a Motion to accept the letter as drafted (and attached to these Minutes) notifying residents who are delinquent in payment of their Dues that a lien will be placed on their property if their account is not paid. Rick Layton seconded the Motion, and it was passed unanimously.
Jim Dugan made a Motion that the Invoice for the Annual Dues shall state that payment is due upon receipt of the Invoice and that late fees will be assessed if not paid by January 31, which was seconded by Russ Packard. The Motion was unanimously passed. The due date for payment of Annual Dues will be highlighted at the annual meeting.
The Treasurer reported that because of problems with the Quarterly Reconciliation Report provided by the HOA accountant, only a draft was available for review. It was noted that the cost for water was significantly over budget in the first quarter, and the concern was that the cost will continue to increase significantly over Budget during the summer months.
John Serumgard made a Motion to approve the Treasurer's Report, which was seconded by Willis Vincent. The Motion was unanimously passed.
Taberna Landings Maintenance Contract:
Kut-Rite has agreed to perform the maintenance for Taberna Landings at the same contract price as the prior service provider.
HOA Website:
Linda Pickens reported on making upgrades to the HOA website. John Serumgard, Willis Vincent and Linda Pickens met with Alva Windham and Gene Peele to consider upgrades on the HOA website. Gene and Alva had prepared content to be added to the existing website. John, Willis and Linda will review the additional content. We will also look at the cost of using a professional HOA website, which will add more functionality to the HOA website.
Covenant Violations:
Willis Vincent reported there were 17 Covenant violations cited in April, including 2 for boat violations, 2 for playground equipment, 4 for property maintenance, 1 for a home business, 5 for trailers and 3 for trash receptacles.
There being no further business before the Board, Linda Pickens made a Motion to adjourn, which was seconded by Russ Packard. The Motion passed and the meeting was adjourned at 8:08 pm. The next meeting of the Board of Directors will be June 2, 2010.
Approved by the Board of Directors:
/s/ 06/02/10
By: Rick Layton, President Date:
Treasurer’s Report
James Dugan, Treasurer
Wednesday, May 5, 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.
- The second payment plan is for one of the two judgments. The owner is paying in accordance with the plan.
- 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.
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 are 97.4% collected as of May 1st.
18 accounts are to be assessed late fees on accounts not paid by April 30th.
2 others are on payment plans (refer to 2009 payment plans above).
First Quarter Sub-Association dues status:
Abbington Woods Assn:
Lot XXX was foreclosed in February. We invoiced the foreclosing bank for their prorated share of the 2010 master dues of $183.33 (10/12 x $220) and sub-association first quarter dues of $62.50 (1/3 x$187.50). The first bank transferred the account to the Secretary of Veterans Affairs and they in turn transferred it to a real estate agent. I have faxed copies of the invoices to the real estate agent for payment. Collection is still in progress.
Boleyn Creek Sub-Assn: 1 account is to be assessed late fees on 1st quarter dues not paid by April 30th.
One Taberna Way Sub-Assn: 1 account is to be assessed late fees on 1st quarter dues not paid by April 30th.
Taberna Landing Sub-Assn: all of the first quarter sub-assn dues have been paid.
Placing Liens: The 20 accounts to be accessed late fees should be sent the HOA form letter for intent to lien either with late fee invoices either this month or next month so that we may initiate the placing of liens. This mailing depends on when the board approves the proposed form letter.
Sub-Association Second Quarter Invoices: Mailed April 1st; due April 30th; subject to late fees May 31st.
The April 30th Aged Receivable list shows:
Abbington Woods: 18 not paid by due date
Boleyn Creek Villas: 3 not paid by due date
One Taberna Way: 3 not paid by due date
Taberna Landing: 1 not paid by due date
HOA Invoices: All invoices received by April 30th except Accountant’s Invoice and Taberna Landing Contract have been paid or otherwise resolved. Accountant’s invoice is to be revised. Neither B&G, Treasurer, nor Accountant has a copy of the contract or contractor’s certificate of insurance, so invoice has not been approved for payment.
Branch Banking and Trust Accounts: Beginning of Year March 31st May 3rd
End of Year End of Quarter (Online)
Taberna Master Deposit Account (IDA) $15,805.08 $134,478.49 $132,980.62
Taberna Master Operating Account 15,540.49 20,880.38 17,076.31
Abbington Woods Operating Account 1,990.14 8,040.58 11,191.05
Boleyn Creek Villas Operating Account 1,543.43 1,969.04 2,508.82
One Taberna Way Operating Account 15,858.85 16,394.85 18,589.05
One Taberna CD 8,616.30 8,616.30 8,616.30
Taberna Landings Operating Account 1,510.72 2,355.72 3,009.20
Taberna Landings CD 5,034.67 5,034.67 5,034.67
Scott & Stringfellow: Beginning of Year March 31st May 3rd
End of Year End of year (Online)
Taberna Master Reserve $96,453.69 $97,452.27 98,273.49
Taberna Emergency Reserve 50,693.54 50,990.86 51,289.29
Abbington Woods 12,529.11 12,662.01 12,701.46
Boleyn Creek Villas 3,994.58 4,021.87 4,025.38
One Taberna Way 38,316.52 40,448.14 40,416.85Taberna Landings 12,598.88 12,599.46 12,629.41
“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:
Attached is the second draft of the First Quarter Financial Reports.
Two items are being reconciled. The HOA bank balance was $36.96 off dating from a check voided in 2007. The One Taberna Way and HOA amounts due varied by $500.00 from accounting for an owner’s payment that was returned for insufficient funds. (It was replaced in the second quarter.) Other than those two items, the rest of the reconciliation is in revising the general ledger transaction descriptions.
Finance Committee requests: Finance recommended splitting the bookkeeping general journal account for “Beautification” of $10,000 into two line items with $4,000 for Beautification-B&G and $6,000 for Beautification - Todd Denson Park.
Motions:
I make a motion that the form letter for “Intent to Lien”, (see below), be approved.
I make a motion that the revised wording for the due date and late fees on the invoices, as follows, be approved:
“Invoice is due upon receipt. Any invoice not paid within 30 days will be assessed a late fee of $20 per month until the account is paid in full. In addition, accounts may also be subject to interest of 18% per annum dating from the due date until account is paid in full.”
Taberna Home Owners Association
1005 Taberna Circle
New Bern, NC 28562
[date]
owner(s)
mailing address
city, state, zip
Re: Taberna Lot # 000, property address year (Master/Sub-Association) Dues Assessments
Dear (owner),
We are writing to advise you that as of the date of this letter, our records indicate that you are past due in the payment of dues for the account listed above. Late fees have accrued on the past due balance as permitted under state law and additional late fees will continue to accrue until your account is paid in full.
Enclosed is the invoice for the late fee on your overdue open account with the Taberna (Master HOA/Sub- Association). As of this date we still have not received any communication from you regarding this overdue account. Please be advised that, although we do not like to do so, the Taberna Home Owners Association will place liens upon properties that have overdue accounts six months after the date of the original invoice. The HOA intends to place a lien on your property, as authorized in the Taberna Covenants and North Carolina Statute Chapter 47F, North Carolina Planned Community Act. The HOA intends to lien your account if if your account is not paid by the end of this month (date).
Currently, with the addition of the enclosed invoice, your account shows:
item, invoice date, due date $000.00
late fee invoiced date 20.00
late fee invoiced date 20.00
late fee invoiced date 20.00
Total account balance due $000.00
Please send your check for this amount made payable to the Taberna Master HOA in-care-of Mona Kay Sadler, CPA; PO Box 87; Alliance, NC 28509. Please mail it in time to be delivered before the end of this month.
If you have any questions regarding your account, please forward them to me at the above address, email me at jimdugan@embarqmail.com, or contact me by phone 252-637-5314; fax 252-637-5319.
Sincerely,
James Dugan
James Dugan, Treasurer
Taberna HOA
enc: as stated
FAIR DEBT COLLECTION PRACTICES ACT DISCLOSURE
Pursuant to 15 U.S.C. § 1692e (11), you are hereby notified that this communication is made in an attempt to collect a debt and any information obtained will be used for that purpose.
