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Board Members Present: Larry Howard, Tom Madson, Bill
Lord, Helen Sommerkamp
Board Members Absent: Kathy Lawson, Charlie Moore, Ernie Uhr
Others Present: Barbara Curran, Secretary; Chris Harris, Treasurer; Tomi
Moody, CAM
Residents Present: 20
Open Forum/ Question and Answer Session
None
Call to Order
Acting
Moderator Bill Lord called the meeting to order at 9:04am.
Establishment of Quorum
A quorum was
present.
Committee Reports
Architectural Control Committee (ACC)- Chairman Larry Ahlman reported
the committee is composed of seven members. It meets on the first
and third Monday of the month. There are presently twenty homes
under construction. There are currently no outstanding issues that
require the board’s involvement. The new home owner/builder
deposit requirements are working, and the fine structure has the
builder’s attention when it has been implemented.
Art Committee – Chairman Holly Cook reported the committee will be
making a visit to Art Space in Raleigh and the Greenville Art Gallery.
This year will be spent obtaining ideas and pricing of an outdoor
sculpture. The committee is also considering a traveling residence
art show in November. It was asked if they could consider holding
the art show the weekend of the annual meeting. Holly will bring
it up to the committee.
Bay Club Operating Committee (BCOC) – Mara Graves will report in
February
Cultural and Education co-chairman Kathy Russman reported Fred Lavin is
the other co-chair. The committee is looking into holding the
Holiday Show at South Side High School so more of the community can
attend. The committee is working on a variety of programs for the
upcoming year.
Environmental Committee – The committee had considered dissolving but
after a month of reconsidering the pros and cons decided to continue.
The committee will rewrite their charter and concentrate on nature trail
tree identification, recycling, water testing, and highway pickup.
They will present their committee members at the January 22, 2008
meeting.
Pool Committee: Resurfacing Project Update – none The Pool
Report will be given at the January 22, 2008 meeting.
Building and Grounds (B&G) – Co-chair Dan Bergbauer reported there are
thirty-one (31) members on the committee this year. The committee
wants to change their charter from a three (3) year term to unlimited
service. Dan also reported an option to the handicap driveway of a
service elevator on the outside of the building near the steps on the
east side of the building. The Board will revisit this alternative.
The committee reported the work on the columns in the Bay Club main room
will begin on January 23, 2008.
Fitness Center – Board Liaison Larry Howard thanked the committee for
their hard work that went into the open house held on January 5, 2008.
Over eighty (80) residents attended the open house for instruction and
talks about various fitness topics given by residents of the community.
Residents expressed an interest in holding a yoga class at the Bay Club.
Details will be worked out for this class.
Treasurer’s Report
Treasurer Chris Harris reported good financial standings. Total
Income for the year came in $5,538 below Budget projections. Total
Expenses ran $52,524 below Budget projections. Almost all of the
committees contributed to the cash surplus of $46,986 (with no storm
damage, common area maintenance and repair expenses were significantly
below projections; electricity expenses were lower; marketing activity
was reduced; insurance policies were renewed below projected costs; and
the new Fitness Center Preventative Maintenance Program reduced
part/repair expenses). There are still a few end-of-year
activities in progress that may adjust these figures slightly. For
the year our Restricted Funds earned interest of $17, 910 ($16,758 on
Reserve Model funds) which was over the Budget projection of $9,695
(84%) and, our Invested Unrestricted Operating funds earned additional
interest of $11, 596. December monthly activity resulted in a
surplus of revenue over expenses of $4,925 which was $8,201 under
budget. The Finance Committee will review the final 2007 Financial
Reports and make a recommendation to the board as to the utilization of
the excess funds. The Treasurer suggests and expects that the
recommendation will be that a majority of the funds be designated to
continue to fund the shortfall identified in the Reserve Model (Account
#1325, Capital repairs and Replacements). The 2008 Budget
accounting system is ready to go.
Community Association Manager (CAM)
Tomi Moody reported assessments are coming in steadily with seventy-six
(76) outstanding. These residents will soon receive a delinquent
letter with interest and admin fees added on to the dues assessment.
Tomi informed the Board there will need to be a noncompliance Tree
Removal Hearing at the next Board Meeting. Tomi also informed the
Board there is a scheduling conflict with using the main room for the
meeting on the third Tuesday. The office will try to resolve the
problem.
Topics for Discussion
Reserve Definition and Usage Guide – Finance Chairman Dave Grahek
presented this guideline. It outlines how the CLMHOA Restricted
Reserve Funds are defined, funded and authorized for use. Each of
these Restricted Reserve Funds is in an interest earning account and is
clearly identified on the CLMHOA Balance Sheet. The final paper will be
presented on January 22, 2008. Bill Jackson was presented for approval
as a new member on the Finance Committee. He is a member in good
standing. This addition brings the Finance Committee to eleven
(11). Wilson/Jones Inc, CPA (Gary Wilson) will be doing the 2007
Audit. This is the third year for his office to do our audit and
using the same auditor provides consistency and ease. This will be
approved at the January 22, 2008 meeting. This firm will also do
the 2007 tax return.
Review Results of the Special Meeting – The results of the special
called meeting held on January 12, 2008 for the purpose of voting on a
handicap accessible driveway up to the Bay Club were 69.9% in favor and
30.1 % against. The motion failed. The discussion centered
on the confusion of a proxy, its definition, and the interpretation of
the covenants/bylaws. Jim Kloiber reported as an observer of the
counting process and as a member of the AD HOC Voting Committee his
concern with the process and how the work of the ad hoc committee is so
important.
Ad Hoc Golf Committee Meetings – Tom Madson co-chair reported that the
committee held two meetings and then disbanded due to the divisiveness
and anger that had been created. It was obvious that the committee
was split and to reach a compromise was not going to be possible.
It was recommended by residents that in the event of a new committee,
that it be completely unbiased and that a mediator be present. The
minutes from these two meetings are on the web site.
AD HOC Tree Management Committee – The committee will hold its first
meeting on January 17, 2008. The charter was read and the
committee announced as follows: John Reiner, Mary Thomson, Dick Lasher,
Ed Smith, Wally Stein, and Judy Keohane. The committee will decide
how to proceed and also hold community input meetings on the topic.
Review and
Revise Record Management Policy – deferred until the
February 19. 2008 meeting.
Review and
Revise “Bidding contracts” Policy – deferred until the February 19, 2008
meeting.
2007-2008
Board Objectives – deferred until the February 19, 2008 meeting.
Announcements
January Board
Meeting
January 22, 2008 7pm Bay
Club
Adjournment
Tom Madson
moved and Larry Howard seconded the motion to adjourn the meeting.
Motion carried.
Respectfully submitted,
Barbara Curran, Recording Secretary Cypress Landing Masters Homeowners
Association
Board of Directors
Attachments:
1. ACC report
2. Treasurer’s Report – December
Financials
3. Reserves Definition and Usage Guide
4. Report on AD HOD Golf Committee
Meetings
Attachments may be viewed in the HOA office.
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