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Park River Oak Estates
Homeowners Association

Meeting Minutes

October 23, 2009

PARK RIVER OAK ESTATES HOMEOWNERS ASSOCIATION

BOARD MEETING MINUTES

Board of Directors Present:            Marguerite Elia, President

Liz Dare, Treasurer

Alvina Tzang, Secretary

Member(s)/Guest(s) Present:           None

WELCOME:

A Board of Directors Meeting for the Park River Oak Estates Homeowners Association was called to order at 6:30p.m. at the Clubhouse.

 

FIRST ORDER OF BUSINESS—DETERMINATION OF QUORUM

Quorum established.

 

SECOND ORDER OF BUSINESS- JULY 2009 MINUTES

All Board members voted in favor of approving the minutes from the July 2009 board meeting.

THIRD ORDER OF BUSINESS—JULY-SEPTEMBER 2009 FINANCIAL REPORTS

Marguerite Elia pointed out that Landmark’s  initial financial report did not reconcile with the bank statements, but the problem has been corrected.  Additionally, there were several items misplaced under the “repair” category.  Other than these discrepancies, report items appeared to be in order for this month.

FOURTH ORDER OF BUSINESS— OLD BUSINESS UPDATE

  • Outdoor Parking—The Board still has to compile rules and regulations governing outdoor parking.  All-Phase Security has not been keeping track of vehicles that are parked in the outdoor parking spots on a regular basis, so they will not be able to help us.
  • Roof Inspection
    • An additional unit (G-7751) is reporting water leakage after the big storm, including damage to the dry wall.
    • The Board is still waiting for the developer’s response regarding performing repairs to the previous water-damaged units.
    • One unit is reporting a stucco hole that may require repair.

FIFTH ORDER OF BUSINESS—NEW BUSINESS

  • ASI— A meeting is currently scheduled for November 11, 2009 at 6:00p.m. at the Clubhouse for the Board to meet with ASI regarding financial services for next year.  At least two or three Board members need to attend.
  • Unanimous vote to terminate Landmark, completely, for lack of productivity and professionalism.   Someone needs to do the work that they charged us $1230 a month to do (plus occasional extra charges).    We have not found an accountant yet, but we will hire an accountant by year’s end.
  • Marguerite Elia prepared the budget for the upcoming 2010 year, will do three mailings in November for the annual meeting and election results,  will prepare about 35 pages for the annual disclosures, and do all the preparation for the annual meeting itself, all by herself.   There will also be extra work because of the issues with the developers’ repair responsibilities to the new homes.   Alvina Tzang motioned, seconded by Liz Dare, to approve a one-time $300 payment for November 2009 to compensate Marguerite Elia’s time in preparing the 2010 budget, completing the mailings, doing all the prep work for the annual meeting, the annual disclosures, etc.   Many hours of labor will still be donated for free as it does not come close to covering the hours involved.   In December, Marguerite will be compensated at only $100., total, although she will be setting up our bank accounts separately from Landmark, making dues coupons, mailing coupons, and setting up the entire bookkeeping apparatus for our  next year’s independent accountant to use for our business needs.   Additionally, for next year (2010) Marguerite Elia will be compensated at a flat rate of $300 per month for repairs, maintenance, all paperwork and correspondence, general HOA management – which has already proven to take up about 35 hours per week, for her work performed on behalf of the HOA that is beyond the scope of her duty as a Board member.   30 hours per week will be donated for free, only 5 hours labor per week will be compensated.  Unanimous vote of approval.
  • 2010 Budget—Liz Dare motioned, seconded by Alvina Tzang, to approve the 2010 budget prepared by Marguerite Elia.  All board members present voted in favor.
  • Resolution to Resolve Personal Obligation and Pre-Approval to Assign For Legal Action (APN# 031-1470-080-0000) —  All Board members voted in favor of assigning APN#031-1470-080-000 to ASAP for legal action.
  • ASAP—HOA is currently not receiving any monetary payments from ASAP, and gets extremely inadequate status updates from ASAP where 5-6 months will pass with zero progress on most accounts.  Per ASAP’s policy, ASAP will only turn over the remainder of the money collected by ASAP until ASAP has been fully compensated for their services.  Marguerite Elia proposed Ron Severaid as an alternative collection agency for the duration of this year, and she will contact Ron Severaid for further information for new collection cases for this year.
  • Garage Doors—A resident requested the Board to ignore the CC&Rs so a resident can keep his or her garage door open whenever it is hot outside.  The Board will not entertain the request at this time due to safety and security concerns.   It is explicitly in violation of the CCRs on two grounds, and is an unsafe idea.
  • HOA Reserves—The HOA reserve is at approximately $150,000 at this time.  Per Marguerite Elia, as of December 31, 2009, FDIC will not guarantee  any monetary recovery over $100,000.  Marguerite Elia motioned to split up the reserve amount as Reserve #1 and Reserve #2.  All board members present voted in favor of splitting up the current reserve account to two separate accounts with Wells Fargo, as our second bank account.
  • CC&R–  CC&R meeting is tentatively scheduled for November 22, 2009 at 4p.m. at the Clubhouse.
  • Mailing–  Marguerite Elia asked for help with preparing the annual disclosure mailing.   No one was available to help.

NEXT MEETING:

Tentative schedule for November 22, 2009 (Sunday) meeting at 4:00p.m., at the Clubhouse.

ADJOURNMENT: Meeting was adjourned at 7:49p.m.

Minutes prepared by: Alvina Tzang