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MONTEGO BAY HOA

September 15, 2018, 9:30 AM

Janice Stempson, Camille Serrano, Jim Smith, Kristine Castleman

Meeting Minutes

1. 1. New File Conversion: Completed
   2. Reviewed Financial/Budget:
      1. September 1 Balance for Newsletter:   $57.654.05
      2. Budget Comparison Report – Bad Debt Clarification:  This line item is for monies that are owed to the HOA but not yet recovered (a potential expense).  Rename on Budget Comparison Report to:
         “Bad Debt – Uncollected HOA Fees” for clarification and removed from the category of “Administrative Expenses”.
         Discussed proposed changes to the Budget Comparison Report to make it easier for Residents to understand.  Janice will draft and get to Jim ASAP.
      3. Projected “Balance Carried Over from 2018” will be shown on the 2019 Budget.  Reviewed 2019 Budget.  Changes suggested to the proposed 2019 budget are:
         1. First Item: “Projected Balance Carried Over from 2018”
         2. Second Item:  Rename to – Assessment Income 2019
         3. General Maintenance amount adjusted to balance $
         4. Contingency renamed to “Contingency Savings”
      4. Jim will adjust Proposed 2019 Budget and a 2018 Expense Summary and get it to Janice so we can prepare mailing
      5. Aging Report – Reviewed.  
         1. One outstanding payment plan with board is not being met.
            If not paid it will be turned over to Lien on November 1.
         2. Two accounts currently up to date with payments to attorney
         3. One property delinquent with attorney payment plan.  Notice
            of possible Foreclosure in process
      1. Discussed mailing of Annual Meeting Notice and HOA Dues Billing
         1. List of prepaids is ready
         2. Aging Reports indicates exact amounts owed
         3. Envelopes and labels are ready
         4. Preservation of HOA:  Waiting for Notice of Preservation from Attorney to include in the mailing.
      2. Annual Meeting:
         1. Set agenda
         2. Scheduled Board Meeting for Saturday October 27, 2018 to review and finalize agenda
         3. Janice will prepare Sign in Sheets
      3. Discussed Pool Contract:  Can’t cancel as he is in compliance.  Previous board signed a five year contract which is valid.  It included a 5% per year increase built in so the monthly charge will be $420 starting in October.
      4. Update on insurance coverage?   This item was tabled until January  
      5. Jim shared the proposed Capital Telecom Tower.  Information on this will be shared on Nextdoor and the Website.  We have NO right of refusal on this as it is not on our property.  The Board has expressed that we do not want this construction to take place and have expressed that to Capital Telecom.
      6. Discussed Solar Installation ARA.  The Board was not happy that this is only done in black and can’t be made to match the existing roof color.  However, there is no basis for refusal of the application.
      7. Discussed and voted to repair/replace the automatic gate at the park entrance pending final cost estimates.  Jim has contacted fencing companies to obtain estimate.  The electric line will need to be restored, as it is currently not receiving electrical current.
   3. Discussed future improvement plan list of ideas. Prioritize list
      1. replace outdated signage  (Kristine and Janice)
      2. resurface/paint pool deck area (Planned for Nov/Dec Weather Permitting)
      3. parking lot refinish  (Jim and Camille are doing estimates and fact finding)
      4. playground    (Kristine and Janice to research)
      5. fence painting and touch up (yet to be determined)
      6. pavilion (pipe dream)