1.1
Financial
Status
1.1.1
Receivables
Current
receivables total $311.60 from three (3) households. R. Strawderman has the
action to notify the new homeowners at 12691 Valley Oaks Court of the balance
of their account.
1.1.2
Balance Sheet
and Budget
a.
After review
of the budget, it is clear that there are three (3) significant expenses for
the community: Management Fees, Grounds and Maintenance, and Trash Removal.
b.
The community
is currently under budget on Trash Removal although we can expect a price
increase from fuel and landfill cost increases.
c.
R.
Strawderman noted that the community’s contract for trash removal is up for
renewal. He took an action to provide a copy of the Trash Removal contract to
all board members via e-mail so that the contract can be reviewed.
This contract is currently on a month-to-month basis.
1.1.3
Reserve
Funding
a.
Allan Urban
presented a DRAFT Reserve Study to be presented and reviewed by the Auditors
on or about September 2005.
b.
The Board
approved this DRAFT Reserve Study and authorized its presentation to the
Auditors.
1.1.4
Dues
There
was no material discussion of the dues and any potential increase in dues for
2006. We will wait to review Dues
until after discussion of the financial standing of the community with the
Auditors.
1.1.5
Contracting
and Grounds
a.
The board
discussed the upcoming open contracts for services to the community.
b.
R.
Strawderman discussed the need to begin the process of reviewing the contracts
for Trash Removal (see above) as well as Grounds Maintenance.
c.
The Board
authorized R. Strawderman to obtain at least two (2) bids for Grounds
Maintenance, in addition to the bid provided by Valley Crest.
This is to ensure best value to the community. This contract is up for
renewal in January 2006.
d.
R.
Strawderman presented his new contract for continued Management Services to
the Board for its consideration. The Board discussed this new contract and
authorized A. Urban to enter into negotiations with R. Strawderman regarding
the terms of this agreement.
1.1.6
Architectural
Review Committee
R.
Strawderman noted that he and R. Urdanata need to schedule follow-up review of
the home inspections completed in May.
1.1.7
Other
Business
a.
The Board has
received a request to place a basketball backboard on community common
grounds. Specifically, a homeowner requested that he be granted permission to
place a basketball backboard on the paved access road leading to the dry-pond
storm water management area.
o
The Board
discussed the merits of this request and the implications for the community.
Of primary concern were potential insurance and liability implications for the
community if this request were granted by the Board.
o
After
discussion, the Board agreed that this request should not be approved.
o
A. McLean has
the action to inform the homeowner of this decision.
b.
The Board
discussed a request from a homeowner to establish a Web Log (BLOG) for the
community as part of the Fair Oaks Glen website.
o
The Board
discussed the merits of this BLOG, particularly the increased and direct flow
of potential community information. Similarly,
the Board discussed the potential for incorrect information to be included in
the BLOG.
o
After
discussions, the Board agreed that the BLOG should not be sponsored or
sanctioned by the Board.
o
A. McLean has
the action to inform the homeowner of this decision.
2
Closing
a.
E. Sturms has
the action to provide the Board members a copy of the DRAFT Meeting Minutes
documenting this meeting held on 17 August.
b.
The next
meeting of the Board of Directors is tentatively planned for 5 October 2005 at
the home of Andy McLean starting at 7:30 pm. This meeting date/time is subject
to confirmation by a quorum of Board members.
