Minutes

Red Hawk Homeowners Association
Board of Directors Executive and Regular Meetings

Thursday, July 28, 2016

Village Inn Restaurant, Castle Rock

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ATTENDEES: Directors Jim Young, President; Ralph Jollensten, Vice President; Lisa Goodwin, Secretary; Don Van Dyken, Member at Large; Walt Figel, Reserve Fund Investment Committee Chair. Debra Pearson, Architectural Committee Chair. Dave Littler, Property Manager, Peak to Peak Property Management.

OTHERS PRESENT: N/A

EXCUSED: Director Mike Mastrodonato, Treasurer. Regis Hoffman, Landscape Commitee Chair.

MEETING AGENDA: See attached.

EXECUTIVE SESSION: The Board of Directors met in Executive Session on June 17, 2016 and discussed legal and administrative issues.

CALL TO ORDER / MODIFICATION OF AGENDA

The general meeting was called to order at 6:00 pm

INTRODUCTION OF GUESTS, OPEN FORUM

No guests or residents appeared to be heard before the Board.

JUNE 2016 MEETING MINUTES

Upon motion duly made and seconded, the Board approved the May 2016 Board of Director meeting minutes with corrections as noted.

FINANCIAL REPORT: June 2016

JUNE 30, 2016 Financial Report

Mr. Littler presented the May financial report.

The negative amount in the First Bank Checking account is due to not having transferred reserve funds in time for the financial reporting.

We are slightly over budget in legal expense.

Misc. Working Capital includes all current homeowner closings at $100 per closing. Mr. Litter to report back regarding the $50 amount in this category.

Director Goodwin requested a report on closings for the month in the Board packet.

The irrigation lines originally installed are "weeping" and created an additional expense in sprinkler expense.

The Board discussed the water expense and the correct accounting by the Town.

Mr. Littler reported he met with a representative of the Town regarding a water audit for our community.

The variance in the budget for water expense is a timing issue based upon seasonal usage. Director Figel discussed the credits we are receiving from the Town due to our installation of drought resistant grass.

We will have a $1,300.00 expense for the reserve funding study.

Director Jollenstein asked Mr. Figel if he incurred any medical expenses due to having been stung by a wasp while doing landscaping review work for the community. Mr.
Figel reported that his insurance covered his medical expenses.

Director Goodwin asked Mr. Littler for a report on closings for the mont in the Board packet and for an Owner's Balance report ending in June to show accounts receivable for all 433 homes.

Upon motion duly made and seconded, the Board approved the June 2016 Financial report as presented.

Reserve fund transfer for Colorado Property Care and American Design Work,

$9,093.33

Mr. Littler reported the reserve fund transfer is to pay for the expense incurred to improve one of the trail head/mail box areas.

Upon motion duly made and seconded, the Board approved the the transfer of
$9,093.33 from the Reserve Fund to Operating Capital for the purpose of paying the expense for the improvements made to one of the trail head/mail box locations.

Old Business

Thatch South Fencing Issues - Update

Mr. Littler reported the privacy fences are almost done except for the pickets. The bill received by the fencing contractor $4,442.00 includes labor, material and dump fees for fencing installation on Short Grass Court.

Benches on Red Hawk Order - Delivery

Mr. Littler reported the benches were delivered yesterday and are still in boxes and will be installed by Mark Winter.

 

 

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