KACA Boarding Meeting January 19, 2017
Attending: Richard Beck, Tom Geren, Mary Jo Lyons, Gayle Connolly
Call to ORDER -Richard Beck Executive Session began @ 1:00 PM, General Session 2:00 PM
Date changed due to schedule conflicts.
An executive session was initiated at the request of Richard Beck, president to discuss personnel issues and project status.
General Session: Call to order – Richard Beck
- Property Manager present findings on Board assigned tasks – contractor bids, best guess costs to complete, etc.-Gayle Connolly
Gayle shared that she had a firm bid from S&S to complete the remaining work on the current renovation. She had spoken to 2 other contractors who indicated they could not do the work for less. Board agreed to move forward with S&S.
- Presentation of findings on the Board’s insurance questions- Tom/Gayle
Discussed learnings from conversation with GSM Insurers regarding the reserve requirements needed for the KACA in case of fire, windstorm or other disaster or insurable event. Gayle shared that the deductible was only $5k per building, per occurrence. If multiple buildings were impacted in one occurrence, then there would only be 1 – $5k deductible. We also learned that we could buy down the deductible at a very reasonable rate on our next renewal. The board concurred that this would allow us to utilize some of the funds in the current insurance reserve for other community priorities.
- Financials- Tom Geren
Board reviewed the balance sheet, statement of operations for December and YTD budget. We reviewed line items looking at budget vs actuals for additional areas of savings and/or overage.
- Discussion on financing the completion of the renovation / painting project
- Use existing maintenance reserve
- Deferring select Budget items
The board agreed that we would move forward with the renovation project and be able to cover the additional costs by using funds from the existing maintenance reserve, existing insurance reserve and deferring select budget items. Held in-depth discussion on the escalating cost of the current work due to massive rotten wood in need of replacement. The board agreed that it was critical to continue the work and drive to completion of the project to protect the integrity of the community and preserve the exterior skin of the buildings. The board feels this will add significantly to maintaining and enhancing property values and agreed that the scope of the project was greater than expected due to unforeseen damage that was in critical need of repair. We feel certain that once the project is complete that all owners will appreciate the much-needed facelift and create pride of ownership.
- Property manager update:/report
- Filing of bylaw amendment
Other issues / accomplishments / must-dos.
Discussion included a 6-month assessment of the work and progress of the new property manager, Gayle Connolly. Regarding communication with owners Gayle committed that she would respond to owners via email or phone within 24 to 48 hours at the very least.
Gayle indicated that she had attempted to file the bylaw amendment and found that it required additional signatures affirming the amendment. Tom motioned to accept the amendment, Mary Jo seconded the motion and Richard agreed to supply needed signatures. Document would then be refiled in a timely manner.
Board expressed concern regarding recent theft of unsecured building materials. Gayle indicated that several vendors had delivered materials without staff signatures and neither Gayle nor anyone on the maintenance staff were aware of the delivery. Gayle indicated that she would be in touch with Lowes, Pro Build, Zarsky Lumber and Home Depot to inform them that no invoices would be paid for any deliveries unless they were signed for by someone on the maintenance crew going forward. Gayle agreed to have this discussion no later than Jan 25th. The board agreed that this must happen going forward.
- Set time and agenda for new board orientation
No discussion on this.
- Old business:
- Transferring ownership of Google Docs page to Mary Jo
- Retaining records on Google Docs
- Getting access for Bob & Charlie to Google Docs
- Newsletter status
- Other items
Mary Jo provided an update on the use of Google Docs. The board agreed that this system was working out well. Mary Jo is working to gain control of the KACA website from Paul Stern as well as the newsletter from Bob Barber. Once access is provided Mary Jo will work to update the website and craft the next newsletter. The board agreed that we want to provide an update on the current project in the next newsletter and that this was a high priority for Q1 2017.
- New Business
- A form letter to address violations of KACA policies and procedures was approved. Richard gave approval to use going forward. Doc posted to Google Docs for easy access.
9) Next Meeting Date set for Saturday, April 8th @ 9:30 AM (tentative, request has since been made to change this date.) The next meeting will be a budget workshop in preparation for the June owners meeting and the budget for next year.
10) Adjournment – Meeting adjourned at 3:22 PM