TOWNHOMES OF ANDOVER
BOARD OF DIRECTORS MEETING
MINUTES
DATE: APRIL 22, 2009
LOCATION: LSI OFFICE
1219 LAKEVIEW DRIVE
FRANKLIN, TN 37067
BOARD OF DIRECTORS MEETING
MINUTES
DATE: APRIL 22, 2009
LOCATION: LSI OFFICE
1219 LAKEVIEW DRIVE
FRANKLIN, TN 37067
CALL TO ORDER:
By Mitch Welty, President
Time: 7:10 p.m.
ROLL CALL TO ESTABLISH QUORUM:
Directors present: Mitch Welty, Robert Schettler, Gloria Dale Williams and Debra Gerstenberger
Others present: Emery Gasser of Gasser Property Management
APPROVAL OF MINUTES FROM PREVIOUS MEETING:
Minutes from January 22, 2009 were previously approved via e-mail.
FINANCIAL POSITION:
As of March 31, 2009 the HOA had $32,034 in Total Assets; consisting of $10,325. in our Operating Account, $15,708. in our General Reserve, and $6,000 in our Roofing Reserve. As of January 31, 2008 the HOA had Total Assets of $17,476.
Uncollected Association Fees and Special Assessments of $6,727. remain outstanding at March 31, 2009. The majority of these amounts outstanding consist of three Members; the HOA has placed liens on these Members’ Units until settlement in full. Additionally, there are sixteen Members with outstanding balances of $500. or less.
Mitch Welty has worked closely with Gasser to ensure proper accounting for the Special Assessment in accordance to how it was approved at the Annual Meeting. As the Members’ payments are received, they are applied to the Members’ accounts as follows:
1) Special Assessment – Roofing Reserve - $20.
2) Special Assessment – General Reserve - $5.
3) Association Fees – Remaining Balance of Payment Received
As originally approved, the HOA is funding the Roofing Reserve and the General Reserve on a “Cash Basis”. The HOA will not deplete the Operating Account or General Reserve to fund Roofing Reserve payments due but not yet received.
The $6,000. in the Roofing Reserve represents an average of 100 Members’ payments received per month, times 3 months, times $20. per payment received. Uncollected Special Assessments will be applied, as collected, in the manner outlined above.
NEW BUSINESS:
1.) Discussion of replacement of trees. The HOA has lost several trees over the last couple of years. The BOD requested LSI to provide us with a quote to systematically start replacing the trees lost.
2.) The streetlight needs to be repaired in the area of the circle parking area. Gasser Properties is going to have this work done.
3.) The mulching is to be done very soon.
4.) The BOD approved for 2 signs to be purchased to advertise our Community’s blog at:
www.huffinemanorcircle.blogspot.com
OLD BUSINESS:
1.) The diagram for each building’s maintenance already performed by Darwin is in process. All boots on the roofs have been replaced. There are a few soft spots in some roofs to be replaced. The gutters are to be checked anytime Darwin is in close proximity of them.
2.) Shutters will continue to be systematically painted within the Complex. However, due to cash flow restrictions, the HOA must focus on structural repairs before focusing on cosmetic repairs.
3.) A thanks was given to Gasser Properties for installing the South pet station in a timely manner. EVERYONE NEEDS TO CLEAN UP AFTER THEIR PETS!!
4.) “No Solicitation” signs were requested for each entrance.
5.) Our parking issues have lessened since our last meeting. PLEASE PARK IN COMPLIANCE WITH HOA RULES AND THE LAWS OF THE CITY OF FRANKLIN. PARK ONLY IN MARKED SPACES. DO NOT PARK IN THE GRASS. SIMPLY PUT – ACT CIVILIZED AND BE RESPECTFUL OF YOUR NEIGHBORS!
PLEASE REMEMBER THERE IS OVER-FLOW PARKING AVAILABLE ON ALMOST THE ENTIRE LENGTH OF STANWICK DRIVE.
NEXT SCHEDULED MEETING:
Date: Thursday, July 16, 2009
Time: 7:00 p.m.
Location: LSI office
ADJOURNMENT:
THE MEETING ADJOURNED AT APPROXIMATELY 8:07p.m.
Respectively submitted by:
Debra Gerstenberger
Secretary, Board of Directors
HOA Andover Townhomes
