Meeting Notes Final Web 1-8-2009

Stonegate HOA Board Executive Meeting January 8th, 2009 6:30 PM Caldwell Free Methodist Church

1. Opening a.

6:39pm – Call to Order i. Roll Call: Present: Brent Orton, Jim Porter, Jennifer Scott, Amanda Gigray, Alicia Brown, Karla Baker

2. Neighborhood Forum a. 3.

a.

b. 4.

No non-board/officer homeowners present.

Minutes The November motion (Item 4.c.i [Motion/Action Item: Ms. Scott motioned that Ms. Gigray contact MGM and to request a refund of all monies except for $2000 dollars from the MGM controlled account, and to request that all 2009 bills have the return address listed as the Stonegate HOA P.O. Box 1516. Seconded: Mr. Porter. Vote: Unanimously approved]) was edited in the December notes to reflect the modification to this motion. It was modified that all monies in the US Bank (MGM controlled) would remain in this account and that the mailing address for the January 2009 bills would remain MGM. Motion: Mr. Orton motioned the approval of the December 2008 meeting minutes with the edits provided by Ms. Brown and Mr. Orton. Second: Alicia. Vote: Unanimously approved.

Financial Report and Follow-up a. b. c.

Ms. Gigray stated that she opened the new checking account with ICB. She got information on money market accounts for future reference. Mr. Porter felt the Board should wait to look as such investments until the cost of the retention pond repairs is established. Ms. Gigray visited MGM and discussed matters with Mr. Madsen. i. She was given the Wells Fargo check register and other receipts. ii. She also obtained bank statements and other information. She had yet to sort through all of the information. iii. Mr. Madsen explained that the “undeposited funds” on one of the financial statements were indeed deposited funds. iv. She asked Mr. Madsen about the certified mailings and he explained that Ms. Brown gave verbal permission to send certified mailings. Ms. Gigray expressed concern that this agreement was not in writing. v. She noted that the second page of the bank statements (that had not been given in previous Board Packets) did not have pertinent information. vi. She noted that we receive two power bills from Idaho Power 1. $3.44 was for the light bill 2. 13.46 was for the sprinklers a. The question was brought up if the HOA is on level pay. 3. Action Item: Mr. Orton will check the HOA billing. vii. Ms. Gigray gave the “90-day service termination notice” document to Mr. Madsen, and he signed the document with some edits. viii. In their conversation, Ms. Gigray said MGM did not offer to reopen the January bills and insert the Board’s additional information. Ms. Madsen said that he had asked if she wanted the bills reopened in their December 18th, 2008 conversation, but Ms. Gigray does not recall this. The Bills were sent out on the 29th of December 2008, but were dated the 1st of January 2009. Ms. Gigray expressed frustration with the miscommunication. Mr. Madsen said MGM sent out an email on November 17th, 2008 asking for a newsletter and stating that MGM needed this information by December 15th, 2008. There was an email dated November 17th, 2008 stating such that was addressed to Stonegate. ix. Ms. Gigray asked how much it would cost to send out the delinquency policy, the CCNR self checklist, and the newsletter in February (for those getting an over due bill, this

Stonegate HOA

1 of 3

information would be included). Mr. Madsen stated that if our information took up more space than was available on the MGM bill, that there would be a cost. Mr. Madsen said he was willing to reprint February statements with the newsletter and self checklist and only charge us for the self checklist. x. Ms. Gigray obtained the HOA’s insurance policy. There was a discussion if the HOA could obtain cheaper coverage. d. The question was raised if the Board wanted to use MGM to prepare the 2008 taxes i. Mr. Porter has a copy of last year’s taxes ii. Mr. Orton noted that if the Board is having a hard time getting a view of our financial status, it might be a good idea to do our own taxes. iii. Motion/Action Item: Ms. Gigray motioned that Mr. Porter fill out the HOA 2008 taxes. Seconded: Mr. Orton. Vote: Unanimously approved. e. The question was brought up as to what to do with the 2009 assessments. It was noted that MGM did not withdraw their remaining fee (for the duration of the contract). i. Motion: Ms. Gigray motioned that the Board leave the 2009 assessments in the MGM account and use MGM’s services for paying regular monthly bills. All other bills should be presented to the Board for payment. Second: Mr. Orton. Vote: Unanimously approved. ii. Action Item: Ms. Gigray will inform MGM of the above. f. It was discussed that the Board’s documents (delinquency policy and newsletter) need to be updated to reflect the change in date of the next homeowner’s association meeting. The Board is required to give 15 days written notice for the annual meeting. Mr. Orton expressed that the newsletter state the reason why the annual meeting was moved to February, as the covenants state that the annual meeting is to be in January. Ms. Orton secured the Caldwell Public Library for the 26th of February. It was suggested that the Board ask at the annual meeting to permanently move the annual meeting date. g. Motion: Mr. Orton motioned that the annual meeting be changed to February 26th, 2009. Second: Mr. Porter. Vote: Unanimously approved. h. Motion: Ms. Scott motioned that the delinquency policy be updated to reflect the new mailing date and annual meeting date. Second: Mr. Porter. Vote: Unanimously approved. i. Action Item: Mr. Orton said he could create an excel spreadsheet to calculate the interest on the new bills to be sent. j. Ms. Gigray requested and was reimbursed $9.19 for a light fuse for the front light. k. It was asked if the Board would have any stamps left at the end of our contract. l. The Board will want to set up-online banking. m. Financial Document Review i. Ms. Gigray stated she would ask MGM why certified mailings are not on the annual budget, and the 15-day demand letters on the open invoice sheets. ii. Ms. Gigray stated that the Board now has no Wells Fargo accounts, and this account shows on the Balance sheet. There was a deposit shows for 1/6/09 into the Wells Fargo account. Also, refunds to several homeowners for overpaid HOA dues may have been paid twice by MGM. Ms. Gigray will get this resolved. iii. Ms. Gigray will ask Mr. Madsen if March fees will be pro-rated. iv. The $5 charge for address verification was authorized by Ms. Brown v. The ICB account deposit was $13,099.42, plus $1,550 in the US Bank account. n. Ms. Gigray had not made a decision on which accounting software to buy. o. The Board reviewed past action item lists and items were either finished or deferred. 5.

Current Business a. b.

c.

Ms. Scott secured the contract with JayDub for landscaping services and he agreed to monthly payments. Mr. Orton stated that the original engineer on the retention pond did not use conservative estimates in his calculations. This will affect the amount of material to be removed from the pond. Potential Agenda for the Annual Meeting i. Finalized budget

Stonegate HOA

2 of 3

ii. Vote to change annual meeting time iii. Vote to retain MGM’s services, or any management company services iv. Discussion of self checklist and explain that the Board will continue walk-throughs. 1. Sheds should be similar in color as your homes 2. Sidewalks need to remain clear. v. Possibility of rewarding those who are both current with dues and have no warnings with $10 credit towards HOA dues. vi. Action Item: Ms. Baker will bring 10 copies of the CCNRs and Bylaws, sign in sheets, and a timer to the annual meeting. vii. Review of the delinquent policy. viii. Review of the direct withdrawal payment option. ix. Limit each person to 3 minutes so that all can have a chance to speak.

6. Close a. b.

The next executive meeting is scheduled at 6:30 P.M. on February 12th, 2009 at the Caldwell Free Methodist Church. Motion: Ms. Scott motioned to adjourn the meeting at 8:44 P.M. Second: Ms. Brown. Vote: Unanimously approved

Stonegate HOA

3 of 3