November 2013 Board Minutes

Place: Bob Stewart’s home

In Attendance: Board members – Chet Mayflower, Bob Stewart, Mike Lowden, Cheryl Simpson and Karen St.Clair; Property Management – Larry Edwards and Susan Keene

I.               Call to order by Chet Mayflower at 6:30 p.m.

II.             Reflections by Chet Mayflower

III.           Review of October Board Minutes

Bob Stewart made the motion to accept the board revisions as discussed. 2^nd by Mike Lowden. Motion passed

IV.           Reports

1.     Property Report by Larry Edwards – many roof shingles were blown off due to Sunday’s storm and intense winds.  Work has begun and will continue thru the week by our property management. Not enough damage was done to file an insurance claim.  

2.     Financial Report by Susan Keene

YTD Net Worth = $233,152.33

YTD Income loss = ($8961.51) due to replacing roofs

V.             Proposed Budget for 2014

1.     Home insurance – board looked at final comparisons between State Farm and Nationwide provided by Cheryl Simpson.  After discussion and review the board

agreed to cancel our policy with State Farm and to initiate a new master policy with Nationwide, a savings of $6,890.  Cheryl & Susan will initiate the change over process. Plans remain to have an agent come speak to our community about our master policy and the personal coverage residents have on their property. Date TBA.

2.     Board agreed to accept John Hall’s bid for Rip Rap around the pond perimeter. The 2014 budget for rip rap reflects John Hall’s bid of $4,600.00 for phase one. The Rip Rap is to be done on the west and north perimeters of the pond. 

3.     After review of the final figures in the proposed budget, a motion was made by Mike  Lowden to increase the monthly fees to $150.00, an increase of $5.00.  2^nd by Karen St.Clair. Motion passed.

4.     Cheryl Simpson made the motion to accept the proposed budget. 2^nd by Mike Lowden. Motion passed.

VI.           Adjournment - meeting adjourned at 9:05 p.m.  

Submitted by Karen St.Clair