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MINUTES OF THE BOARD OF DIRECTORS MEETING, NOVEMBER 15, 2011
Call to Order:
Board Members Present:
Frank Boardman, President, Irene Allen, Vice President, Joe Gibbons, Member at Large and Monsef Sidrak, Member at Large were present.
ABM Property Management: Amanda McClelland
Board Members Absent:
Maria Chavez, Secretary, Sean Wolpin, Treasurer, Mark McGuire, Member at Large were absent.
SECRETARY'S REPORT:
Irene Allen motioned to approve the September 20, 2011 and October 18, 2011 minutes with the corrections as follows:
Change location of meeting from "Association's Pool Area" to "Vintage Simi Hills".
Joe Gibbons and Sean Wolpin were absent in October meeting.
Page 2 of September minutes, change address
number from "5734" to "5374" and that Joe was to return application to homeowner to obtain signatures rather than to obtain neighbor signatures with the homeowner.
Seconded by Monsef Sidrak. All approved and the motion carried.
TREASURER'S REPORT:
As Sean Wolpin was not in attendance, Sean emailed
Frank Boardman his comments on the financials. Frank read to the Board Sean's email.
Sean stated all accounts are in order and balanced; income vs. expenses. The last remaining balance in the old operating account with First Bank has been transferred to the Telesis Operating account. The account with First Bank will be closed. For October month end, we had a net income surplus of $4,970.75. Year to date we now have a net income surplus of $35,340.46.
Sean Woplin motioned to take 50% or $17,670.23 and
transfer it to the reserve account with Telesis and immediately take action to remedy/fix or replace all items identified in the Reserve Study having zero (0) years viability left, seconded by Joe Gibbons. All
approved and the motion carried.
Sean made mention we are now tracking total
delinquencies in the amount of $12,506.70. ABM is sending courtesy delinquent notices to homeowners that are 30 days past due on their account.
Frank Boardman read the financials:
Cash In Bank:
First Bank Operating: $0.00
First Bank Reserves: $55,902.70
Telesis Operating: $76,597.45
Telesis Reserves: $74,517.49
Total Cash in Banks: $206,342.81
Monsef Sidrak motioned to accept the Treasurer's Report as presented, seconded by Joe Gibbons. All approved and the motion carried.
Joe Gibbons advised that per the CC&R's on
funds, it states it needs to be "in the County of Ventura" and suggested changing when revising the governing documents to the State of California.
BUDGET:
Frank Boardman provided and presented changes to the budget.
Sean Woplin motioned in his email to approve the 2012 budget proposal adjusted.
Irene Allen motioned to accept the 2012 proposed
budget with changes as presented by Frank Boardman, seconded by Joe Gibbons. All approved and the motion carried.
Irene Allen motioned to keep dues at current rate, seconded by Joe Gibbons. All approved and the motion carried.
RESERVE STUDY:
ANNUAL DISCLOSURE:
Board reviewed drafted annual disclosure and provided their additions and corrections.
Irene Allen motioned to approve the annual
disclosure with the additions and corrections as discussed, seconded by Joe Gibbons. All approved and the motion carried.
MONTHLY ACTIVITY:
Board reviewed and discussed the specification for fences or gates created by Joe Gibbons and Sean Wolpin.
Irene Allen motioned to approve the specification
for fences or gates with the exception that on Page 76, fifth paragraph, last sentence "or another substantial covering" be removed, seconded by Monsef Sidrak. All approved and the motion carried.
VALLEY CREST:
Board reviewed proposal submitted by Valley Crest in the amount of $112.00 to install annual color to the South Entrance planters.
Monsef Sidrak motioned to approve Valley Crest to
install annual color to the South entrance planters in the amount of $112.00, seconded by Irene Allen. All approved and the motion carried.
Board reviewed Valley Crest's field report.
Amanda informed the Board the tree trimming schedule of December 15th through December 16th.
CPA:
Board reviewed proposal submitted by Allyn M. Moskowitz for the audit and tax.
Sean Wolpin motioned to approve the proposal
submitted by Allyn M. Moskowitz, seconded by Irene Allen. All approved and the motion carried.
Adjourn:
There being no other business to consider at this time,
the meeting was adjourned at 8:04 p.m. Next meeting of the Board of Directors will be January 17th, 2012, at Vintage Simi Hills.
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