Four Lakes Board Meeting
April 17th, 7:00 PM
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In Attendance: Terry Deschenes, Dave Prochazka, Mark Anderson, Mark Achzenick, Tara Bingham, Tom Price, Tod Ray, Rod Case
BUDGET
Treasurer Rod Case presented the current budget balance sheet. It shows $7,300 in checking, $43,871.49 in savings, $17,032.46 in a BECU CD. Rod also discussed his findings with regard to investing more of the savings in a 3 year CD which will pay an interest rate of 3.36%. He explained that if we need to draw out any money early, we would have to pay one quarter’s interest as a penalty. The board discussed this issue and voted to approve moving 30k into the highest yield CD possible, which is a 5 year time period.
Rod also explained that our HOA income amounts to about 25k per year and that our total assets amounted to approximately $77,226.00.
Tod asked that Rod present a report re: past due accounts to the next meeting. He also suggested that more detailed information, such as what our statements are for be included as comments on our bill.
HOA President Terry Deschenes suggested to Rod that we need more detail on the balance sheet regarding the general fund. He suggested that it be renamed “Operating Cash”, and asked Rod to break it down into sub accounts. He also suggested that our billing policy be explained in our newsletter. Mark suggested that our bi-laws be included with any late notices. Another suggestion made was that our new website address be put on the statements.
These actions were approved by the board, and will be carried out by the HOA Treasurer.
COLLECTION POLICY
The Board had received the policy prior to the meeting for review. Tod suggested that the start date of the new policy be changed to July 1, 2008 to reflect the beginning of a new quarter.
Rod stated that the new policy will go out in the May 15 statement mailing.
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It was suggested that if a homeowner gets behind and requests arrangements, each case will be considered individually by the Treasurer and he will keep a log of conversations and arrangements, which will be reported at Board meetings so that said arrangements can be recorded in the Board meeting minutes. These suggestions were voted upon and approved by the Board.
Terry agreed to check on the Schaefer residence to see if any one is living there. He will report during our next meeting.
ROADS
Terry reported that Jake Emhoff will grade the parking lot at the park on Monday 4/21 or Tuesday 4/22. Terry will spray weed killer, then the gravel will be delivered. Fifty yards have been ordered. Tom price will recheck our measurements before the gravel is delivered to be sure we need that much.
Gravel is also needed for the pump house area.
WATER
Evan Lurton has readied the water facility for the new roof and upgraded the reservoir tank.
INSURANCE
Terry provided a detailed report concerning HOA insurance policies and what they cover. Document will be filed with minutes. He also mentioned that volunteers and board members are covered when engaged in community sponsored events.
ENTERTAINMENT
Tod suggested we wait to plant our grass carp until after the fishing derby. The Board agreed.
COMMUNICATION
Committee chairs and Board members need to submit their articles asap. Mark Anderson suggested that we include a questionnaire for community input re: events and projects. He also said that he would submit information about emergency preparedness. It was also suggested in our previous meeting that Tom Price write an article about the proposed dock. Rod will write an article about the new mail box.
Tod suggested that we make a special “priority” section on the community bulletin board. Terry said he would make labels for it and write an article for the newsletter.
EMERGENCY PREPAREDNESS
Tod requested information about radio use. Mark Anderson explained that they are to be used during a disaster or major power outage of some sort so that the 911 system is not over taxed. Mark also stated that he was going to call those zone captains that have not arranged an initial preparedness meeting for their neighbors. He would like to do a drill sometime this summer.
SANICAN
Terry and Rod will present information at our next meeting about costs and insurance.
NEW BUSINESS
1. New Officer: Dave Prochazka accepted the Board’s appointment to the position of Vice-President
2. Funding for Committees: Terry stated that committee chairs do not need Board approval to access funds already allocated in the budget for their needs. He will draw up guidelines about how to access more funds if necessary, and will add those guidelines to HOA policies.
3. Sign Upgrade: Tom Price presented drawings of the proposed Fourlakes sign upgrades. The Board suggested that his ideas for that and the dock be presented to Rick Ward and the Community Property committee. It was also suggested that the projects might be considered for Scouts to be involved in.
4. Road Repairs: Mark Achzenick asked Terry to send a letter to Holeceks regarding repair of the road.
5. Park Lawn: Rod asked about the lawn mower purchase for the park. The Board suggested that he present the idea to the Community Property committee.
6. March Board meeting minutes were approved by the Board.
Next meeting: May 15th, 7:00 PM at Terry’s.