CLEARMEADOWS COMMUNITY ASSOCIATION

MINUTES for BOARD MEETING

December 5, 2013

Members present:
Carol Ivey, President
Jon Bennett, Director
Gary Moore, Director
George Chinakos, Director

Absent with notice, Duane Vincent, Secretary/Treasurer

Regular meeting convened at pm

Homeowner input, limited to 3 minutes each total of 15 minutes of meeting time.
Discussion included handicap ramp plans, park fence, new homeowners with park questions and landscaper service.

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

Duane Vincent Treasurer’s  report

There are no numbers for November because they are not received until mid-month for the previous month.

Message from Duane:

Tue, 12/3/13, 

Move $23,000 in excess funds from operating account to restricted reserve fund 

(both US bank) then draw a $50,000 check against reserves to  fund a new $50,000 

1 year CD at Riverview.  Renew the expiring 1 year $50,000 CDfor three years.

At year end we will have $60,000 in cash reserves and $200,000 in reserve CD's.

 We wind up with enough money to pay our operating expenses

 and still add to our restricted reserve funds.  It is a prudent move.

 I request that I be recorded for tonight’s meeting as absent with advance notice.  Currently, I am confined  to Ft. Vancouver Convalescent Center for advanced pain

 management.  2014 will see my health decline to the point where I will no longer be able to remain as a board member nor serve as Secretary/Treasurer of Clearmeadows

 Community Association.

 Duane Vincent

Treasurer's report - meeting of December 5, 2013    Our balances include monies that have been collected as advance payments by homeowners through October 31, 2013.

Our US Bank Money Market Restricted Reserve Fund has $81,585.78 as of October 31, 2013.
Our Riverview Bank Restricted Reserve Fund CD deposits are in the amount of $150,000.00.  One $50,000.00 CD matures during the month of December and needs to be renewed.

The ending balance of Clearmeadows Community Association operations checking account with US Bank was $57,564.78 as of October 31, 2013.

Our Clearmeadows Community Association operations checking account earns no interest, and is currently funded to a greater extent than is reasonably needed to cover our current expenses.  I am therefore tonight recommending that the board transfer $23,000.00 from our operating fund to the restricted reserve fund, and then convert $50,000.00 of our restricted reserve to an additional one year Restricted Reserve Fund CD during the month of December, prudently increasing our CD fund reserves to $200,000.  At year end 2013, our US Bank Money Market Restricted Reserve Fund will be funded to an approximate value of $60,000.00.

The funds in all of our accounts at both US Bank and Riverview Community Bank are protected by the Federal Deposit Insurance Corporation.

With regard to collection of delinquent accounts: Clearmeadows Community Association is currently owed $42,000 in accounts overdue more than 90 days.  This reflects the general state of the national economy, which has not yet recovered from the recession.  Many of the homes in our community are burdened with mortgages that exceed the current value of the residences.

In accordance with resolutions adopted by the Board and distributed to every homeowner, every homeowner in arrears of more than $500.00 has either paid off the amount demanded, been placed on a payment plan or been sent to collections.  Currently, two homeowners are on approved payment plans and are paying as agreed; 2 have been charged off to bad debts as being uncollectible; and 24 homeowners' accounts were sent to a collection agency.  Of the 24 accounts sent to collections, eleven have been paid off in full.

Of the homeowners placed on approved payment plans, the outstanding balances have decreased from a total of $3700 on December, 2012 to under $1100.00 as of October 31, 2013.  We are receiving other funds through the collection process now in place.   We have recovered approximately $15,000 since January 11, 2013 through the attorneys who represent us for collection activity.

During the month of November, six additional homeowners whose outstanding balances exceeded $500.00 were processed for collection.   They have been offered a payment plan in lieu of collection action.  Two of the three sent to collection in October have paid their accounts in full, with the other participating in an approved payment plan.

Letters of request were sent in mid-February to 16 homeowners in arrears between $200.00-$499.00 (excludes those on approved payment plans or in the collection process) asking that the arrears be promptly attended to.  That, along with collection efforts currently in progress, should see a sizeable reduction in our delinquency amounts outstanding.  We have received more than $2000.00 through these letters.   Follow-up letters will be sent in mid-February 2014 to homeowners in arrears between $200.00-$499.00

The Clearmeadows Community Association Board of Directors was able to prepare a budget for consideration that reduces the annual HOA assessment from $314 to $300 annually.

Respectfully submitted via e-mail and read by Board,
Duane L. Vincent
Secretary/Treasurer

Proposal to cover that portion of treasurer duties Duane is no longer able to manage.

Board approved proposal to hire Carol Ramsey, who has experience with years of work in banking on account analysis and fraud investigation to learn the accounting  reporting from Duane and then provide the Board with the checks and budget analysis for the meetings.  Reports will go through the Board and no names of homeowners provided, just TMG reports, checks written and what they are written for. 

Carol will set up training with Carol R. and Duane at $100, then monthly cost of $40. Job to end as either the Board or Carol Ramsey wish.

ARC report Carol

Approved and mailed:

17707 SE 23rd Street  cement walkway

Delinquency Report review:
Vial Fortherinham (hereafter referred to as VF) is given list of delinquencies to review for collection.

Old Business

New Business:

Board agreed to do as advised by Duane and move $23,000 from operating expenses to restricted funds.  TMG will do the transfer.  The CD will roll over at Riverview bank. Future CD purchases to be delayed until Board addresses cash needed in Reserve Account for the fence Phase one and possibly Phase two summer of 2014.

Board reviewed Pacific Landscape proposal and agreed to table the discussion.  A homeowner recommended the landscaper used by his employer so Board will inquire on cost of that Landscapers services.

Homeowner correspondence:

1. Homeowner who is out of state has been sent second letter.  He is ill with little control over the relative in the home but TMG talked with who said he would remove the cardboard at windows. 
2. Board member checked on B—house is clean but shading on the north back half of north side which looks dirty but is not., talked with homeowner, she has done all she knows how to do and will put in an ARC and have the area which has shaded vertical “striped” area painted by mid-summer. 
3. Homeowner continues to get letters to rectify and will be in fine mode soon.  His ARC was approved to cut trees since the City gave him a permit but he is required and agreed to replant and needs to do it soon and remove firewood.

IMPORTANT Duane needs a volunteer to learn the treasurer procedures as he will be resigning at some point for health reasons.  His way of monitoring accounts is very helpful in managing the Clearmeadows finances. Until a homeowner volunteers to handle accounting for Clearmeadows, the work will be done for fee by a non-homeowner .

Ongoing needs and Ideas:

To serve as a reminder of possible projects.

Postcards commenting on exceptionally well kept yards.

Blog suggestion: Homeowner interest in developing a communication means via the internet to provide a way for homeowners to get acquainted and share ideas and issues.

WEB site addition; Homeowner comments on vendors they have used and how they felt about the quality of the work, maybe some helpful hints.  The Board would not be recommending them but it could save some homeowners’ time and effort in doing all the research to find a vendor who does a good job.  Clearmeadows Webmaster to be contacted about possibility.

FAQ’s on the WEB site.  For example, a homeowner was surprised that homeowners are responsible for the lifting sidewalks in front of their homes even though they belong to the city.  Homeowner suggested those who have signed up for e-mail notifications could get that information.  The city cites for sidewalks in dangerous condition. WEBmaster to be contacted about possibility.

Community fence: As time permits, homeowners will be notified to correct issues on their side of the community fence regarding rotting boards and fence pushing out onto sidewalk area due to soil, vegetation, and rocks being placed against it.

Signs handling: (put out, pick up, store) needs new volunteers.  We thank the one homeowner who is handling one of the signs.  Three more are needed to provide sign handling to meet requirements for public notice. ANY VOLUNTEERS?

Executive meeting: none

Next meeting is Thursday, January 30, 2014, same place and time.

The meeting adjourned at 7:30 pm.