MINUTES
KCPOA Board of Directors Meeting
ATTENDEES: Henry Oertel, David Philips, Martha Oxford, Bill Hagan, Jim Porterfield
ABSENT: Harlan Cooper, Lloyd Parker
1. Meeting was called to order by Henry Oertel. Martha Oxford certified that a quorum was present.
2.
Minutes from January, 2009 meeting were
presented.
Motion
made by Jim Porterfield and seconded by Bill Hagan to accept the minutes. Approved unanimously.
3. Treasurer’s Report was presented by David Philips.
Income for January 2009 was $74,243. $4200.00 of that income was from past due accounts. Other income was less due to the fact that no boat stall income was billed in January. Repairs and Maintenance is higher than normal due to $3600 for A/C repair. Capital Improvements is also higher due to $4200 payment for gate repair. Another $4200 will be paid after work is completed.
According to the balance sheet we are in a good position. We have $240,000 in cash which includes $100,000+ in a maintenance CD, $80,000 in 2008 funds that will be spent this year on swimming area, playground and road repair, and $60,000 in the checking account. We also have $25,000 in boat stall funds and $8,000 in Yard Sale monies.
Overall, we are in good shape particularly as we continue to collect past due accounts.
Motion
made by Martha Oxford and seconded by Jim Porterfield to accept the treasurer’s
report as presented. Approved
unanimously.
4. Committee and Staff Reports
a.
Communications......................................................................................... Martha
Oxford
1) Will begin work on quarterly newsletter in March.
2)
Bylaws & Covenants have been recorded at
b. Maintenance/Security.................................................................................. Jim Porterfield
1) Front gate installation of new equipment starts next week.
2) Clubhouse Septic System failed. Have quotes from Ford Plumbing and installation of new system can start next week.
Motion by Jim Porterfield and seconded by Martha Oxford to install new aerobic septic system for clubhouse for $7500. Approved unanimously.
3) Last month there was a domestic disturbance. Franklin County Sheriff’s office used tapes to help apprehend.
4) There is a water leak somewhere in the clubhouse area. Cypress Springs SUD has a probe that they can bring out to help locate the leak.
5) 2 letters were mailed out to owners regarding property clean-up needed.
c. Roads/Dams....................................................................................................... No report
d. Architectural Control/Variance............................................................................. No report
1) Dwayne reported that there are 12 active permits – 3 new homes, 5 remodels, 2 retaining walls, 1 fence, and 1 boathouse. There is also 1 pending for a new house on King Louis
e. Land Management.............................................................................................. Bill Hagan
1) Dwayne has been active and filed 10 liens for non-payment of dues/assessments. These people will not be able to sell the property without dues being paid. Also, 3 option liens have been filed for those who opted to have the $25 per month house dues deferred until property is sold.
2) 4 lots have been deeded back to Kings Country. No taxes were due. 1 was added to park land, 1 was sold and 2 can be sold.
3) Have helped several owners purchase adjacent lots to their existing property.
f. Boat Stalls/Parks/Public Areas...................................................................... Henry Oertel
1) Old boat stalls have been removed and area cleaned up. Talked with contractor (JH3 Construction) and he should be starting installation work next week.
2) 2 companies are bidding on playground. Should have final prices next week and be able to install starting in March.
3) Old playground equipment status – some may be refurbished and moved to Jim Stewart Park, some may be sold and some will just be thrown away.
4) Construction loan of $150,000 was secured at Guaranty Bond Bank for boat stalls. The land that the park sits on was used as collateral. The appraised value of that land is approximately $500,000.
g. Property Manager........................................................................................ Dwayne Fikes
1) Current dues collection for February, 2009 – In January we invoiced $138,532.16. To date, we have received $103,851.79 in payments. That leaves a balance of $34,680.37 due by March 31. Betty is continuing to build a delinquent QuickBooks company to deal with the delinquent accounts. This is proving to make it much easier to identify and deal with the delinquent accounts and gives us a much better, more efficient look at our finances in the current ‘good-paying’ company. Betty has also identified several lots that were not being billed and has now started billing those.
2) Past Due Collections – We have terminated our agreement with the attorney who was handling collection efforts and are now doing the collections ourselves. We have collected $4420.09 in delinquent dues since January 1. Since collection efforts started in October, 2008 we have collected $16,056.46 out of $43,104.28 in 103 selected recently delinquent accounts. Of the 103 that were selected, we now have 63 of those left as delinquent. This is not all of the accounts that are delinquent; it’s just those that were selected to work at that time.
3) We filed 10 liens against property this month for non payment of dues and assessments. This action is cheap insurance at $16 per lien to insure that KCPOA will eventually get some return from these lots. I will continue filing liens at about 10 or so each month.
4) Speed bumps – Still trying to locate best supplier and price.
5) Tax return has been completed.
6) Bill Hagan donated the cost of the playground fend painting.
7) Light pollution issues at the new boat stalls and in the Jim Stewart Park area will be addressed as construction continues.
8) 2009 budget submitted. David will review and present at March meeting.
OLD BUSINESS
5.
Yard Sale – Sign up sheets are outside the door
in the foyer. Also, negotiating for an
8’x40’ storage pod with We Stow in
6.
Hiking Trails – Walking train has been marked
and flagged in the King Club/King Kent area.
ADJOURNMENT
Motion by Bill Hagan/Second by Jim Porterfield that the meeting be adjourned. All approved.
Respectfully submitted,
Martha Oxford
Secretary, King’s Country Board of Directors