CLEARMEADOWS COMMUNITY ASSOCIATION

MINUTES for MEETING
of

October 26, 2011

Meeting called to order at 6:30 PM by Carol Ivey, President

Other members present:

Duane Vincent, Secretary/Treasurer
Jon Bennett, Director

Absent with notice Gary Moore, Director

Others present: Lynda DuLong, TMG representative
                          Nina Lester-Benford, TMG Assistant

Vacant-5th Director board position

Homeowner’s annual meeting convened at 6:30 with recording of proxies and homeowners attending. Quorum was not met, with approximately 90 proxies accumulated.

Regular Board meeting called to order at 6:45.

Homeowners’ questions and concerns were heard and responded to, action items noted.

Reading of the Minutes for September waived.  The Minutes were accepted as submitted.

Treasurer’s report read and accepted as follows:

Treasurer's report - meeting of October 26, 2011

Collection efforts of funds due Clearmeadows Community Association by homeowners have been initiated.  Demand letters have been sent to all homeowners whose arrears are in excess of $500.00.
At the end of September, the association had recovered over $1800.00, and several homeowners had submitted payment plans to catch up on the overdue amounts.  Some homeowners’ accounts have been turned over to a collection agency, and the remainder are scheduled to be turned over soon.
There are certain procedures that according to law must be followed prior to involving a collection agency, and these are being strictly adhered to.

Our balances include monies that have been collected as advance payments by homeowners through September 30, 2011.  Analysis of our cash flow reveals that we will be able to transfer funds from our operating budget to the Restricted Reserve Fund prior to December 31st.  Prudent management indicates that we do not need to keep as high a balance in the operations checking account as we have in the past.

Our US Bank Money Market Restricted Reserve Fund has $123457.39 as of September 30, 2011.

The ending balance of Clearmeadows Community Association operations checking account with US Bank was $67679.23 as of September 30, 2011. The following activity was presented against the account:

Duane L. Vincent, Secretary/Treasurer

ARC Committee report-Carol

Approved:

17607 SE 22nd Way paint, trim, roof
18205 SE 20th Way paint, siding and trim
18114 SE 20th Street, paint, siding and trim
17909 SE 24th Street, tree removal and replacement

Delinquent Account reports reviewed.

Motion made and passed to pay up to $600 for removal of dead or diseased street trees; price to include taxes and permits.  Vendors will be sought.

Motion made and approved that Duane Vincent be given authority to manage the collection process for Clearmeadows homeowners who are in arrears over $500. Treasurer will coordinate with TMG and provide reports at meetings.

Board members Jon and Gary were reappointed to serve for two years from January 1, 2012 to December 31, 2014.

A homeowner expressed interest in the 5th position, now vacant and will make a decision at the next meeting.

Executive meeting convened at 7:00 pm.

Board came out of executive meeting at 7:45.  Decisions were made on hardship requests, fines revision requests, and payment plans proposed.

The meeting adjourned at 8:00 pm