9/30/2020

Meeting 9/30/20 Minutes

Attendees: Ben, Jeff, Andrew, Matt, Phillip, Jimmy (via phone)

1. Approval of minutes – Phillip motion, Jeff second – unanimous approval
2. Update on action items
   1. Sidewalks – no update yet on ownership
   2. Requested itemized list from College Pro as well as current contract.
   3. Houseman quote – no update yet – need itemized list for accurate comparison
   4. Detention pond
      1. Phillip has bid from Dirt Works – much cheaper
      2. Information on ongoing maintenance – work with landscaper to knock down undergrowth on a regular basis to avoid large expense for mulching
   5. Insurance – none currently in place, continue to work the issue
   6. Legal Representation – still working to identify a good attorney
   7. Phillip working to get photos for website of main entry way via drone footage
3. Well written introduction email, we all agreed it was good – working through expectations from the neighborhood – where we think this is going
4. Surplus HOA funds ideas
   1. Reserve funds – lots of discussion around keeping 1 yr of expenses in reserve. Additionally, how much excess should we shoot for each year.  10%-20% seems to be right to account for unforeseen expenses
   2. Ideas for current excess reserve –
      1. Dues holiday – 2020 was tough on lots of residents.
      2. Dues reduction – concern was raised around reducing dues temporarily as increases are always painful and would be required eventually

• Community services we could do – need to solicit feedback from neighborhood and develop hit list we can possibly vote on

1. Social committees – generally agreed we can provide a budget to host events in the community in an ongoing nature – questions if this is a potential use for excess funds as we reduce the reserves.
2. More discussion needed

5. Other items – Matt brought up need for accounting software to manage finances – Phillip has idea for cost effective solution with simple software he uses for business.
6. Next meeting set for 10/21 @ 6:30