MINUTES OF THE BOARD OF DIRECTORS’ MEETING
SECTOR 2A AT SNOHOMISH CASCADE ASSOCIATION
7 P.M. TUESDAY DECEMBER 2, 2014
CALL TO ORDER / PRESENTATION OF MINUTES
NEW BUSINESS
MEETING ADJOURNED AT 7:55PM.
__________________________
Steve Yandl, Secretary
SECTOR 2A AT SNOHOMISH CASCADE ASSOCIATION
7 P.M. TUESDAY DECEMBER 2, 2014
CALL TO ORDER / PRESENTATION OF MINUTES
- Suzan Miller called the meeting to order at 7:00pm. Present were Suzan Miller, Steve Yandl, Tim Day and Nicole Klages.
- Minutes of the November 2014 meeting were presented and unanimously approved.
- Steve Yandl reported on current financial status and forecast through the end of 2014.
- Currently $25,801 in checking. After anticipated expenses through the end of the year (including the transfer of funds to the long term reserve) we will deplete checking to nearly 0.
- The usual amount budgeted to go to the long term reserve for 2014 is $9,139. We are in the next to last year of also needing to transfer $11,115 to restore the account after borrowing to cover unexpected legal costs several years ago. The amount going to long term reserve is to be reduced by the amount spent with Town and Country Fence for repairs in 2014, $4,431.47. Thus, when the CD with the long term reserve is renewed we will transfer $15,822.53 from checking. This may be reduced further if there are expenses for fence repairs or mailbox repair or replacement before the end of 2014. There was an actual mailbox replacement needed for approximately $1400 with tax that will also reduce the amount to long term reserve.
- There is $70,686 in the long term reserve. After the transfer, we will have $86,508 plus any additional interest accrued as we begin 2015.
- We have $5,694 in operational reserve. We are unable to increase that by $6,000 as proposed in the 2014 budget but we didn’t spend down the existing reserve.
- Currently $25,801 in checking. After anticipated expenses through the end of the year (including the transfer of funds to the long term reserve) we will deplete checking to nearly 0.
- Steve Yandl presented the final proposed budget for 2015.
- Old style mailbox on 67th Drive was damaged, possibly as a result of theft and is being replaced with funds from long term reserve.
- No feedback from homeowners along Snohomish Cascade Drive regarding any urgently needed fence repairs.
- Several directors expressed interest in adding more trees to enhance landscaped areas along Snohomish Cascade Drive.
- Ballots for budget ratification will solicit opinions on options for fence repair over the next several years. We don’t have sufficient reserves to replace the entire fence in 2015 but we could begin a partial replacement and have the improvement span multiple years. The current preference for new fence is using pre-stained wood and cost for entire fence, including tax would be in the neighborhood of $124k.
- A notice of non compliance regarding yard maintenance has been sent to Aziz Mohammad and fines are to commence if correction isn’t made.
NEW BUSINESS
MEETING ADJOURNED AT 7:55PM.
__________________________
Steve Yandl, Secretary