Meeting Minutes
July 12, 2021
Call to Order: by Karen Gore at 6:10 pm
| Present | ||||
| Karen Gore – President | Barbara DommertBreckler- Secretary | Ed Nielsen- 2nd Vice President | Christine Anderson | |
| Absent | ||||
| Steve Shobe | Anna Hernandez- French – Treasurer | Garrett Lebby | Dave Tyler- 1st Vice President | Jaimie Ehrler |
| Tanya Michaels |
Community Members Attended: Dawn Richey, Amanda Bash, Ryan Orseth
There is not a quorum, so no motions/votes occurred.
Reports:
President: No report
1st VP: Lot 167 meter is turning backwards. Tony found it and that meter will probably need to be replaced.
2nd VP: Big signs drilled and spots for holes are marked. Discussion included that assigning a weekend for digging. Metal for roofs for pump house 4 shed picked up but they did not have any 1x6s.
Secretary: No report.
Treasurer: $5000 CD put into Alliance that matured on January 21, 2021 to move to water operating for 2021 did not show up on the financials. Please see the notes from an email exchange below:
n 7/12/2021 1:14 PM, Stephanie Hahn wrote:
Hi Dawn,
We may need some further explanation of what you are looking at as far as negative balance. I just spoke with Liz and we may need to schedule a meeting to understand what the Board is asking. The CD was purchased in August of last year, for $5,000. These funds were from Community Operating. In November we were asked to reclass these funds from Community Operating to Water Operating. The reclassification was done through retained earnings. When the CD matured the funds were placed into Water Operating. This variance will show however, the funds are showing in the 2020 retained earnings. There will be a negative variance in 2021 but this can be explained as the funds are in the retained earnings. There will be nothing to show on the P&L.
Stephanie Hahn
Associate Community Manager
HOA Community Solutions
PO Box 364
Gig Harbor, WA 98335
(253)985-3812 Office
(253)649-4667 Direct
(253)313-1219 Fax
Serving our communities and their members with honesty and professionalism. HOA Community Solutions continuously strives to be a beacon of Excellence in the Community Association Management Industry.
Our industry has a very high email volume. Please allow for a 2-business day response time to email.
If your request is urgent and cannot wait, please call me and leave a detailed message.
If I have done something that you feel needs attention, please let me know so that I can have the opportunity to make a correction. If I have done something that you would like to show your appreciation for, please give us a positive review on social media or let my supervisor know by clicking HERE.
—–Original Message—–
From: Dawn M Richey <[email protected]>
Sent: Monday, July 12, 2021 12:13 PM
To: Stephanie Hahn <[email protected]>; Liz Angell [email protected]>
Cc: Anna Hernandez-French <[email protected]>; Dave & Mary Tyler [email protected]>; yuppypuppies@hotmail com <[email protected]>
Subject: Re: $5000.00 AAB CD matured Jan 2021.
This has nothing to do with reserve funds. In February 2021 when C D matured, it was deposited into the main HOA water operating bank account. Aug 8, 2020 the Board voted to buy the CD with intent that at maturity it deposit into 2021 water operating account. Since it is not an assessment, it was to be treated as line item retained earnings to expend against during this year. Without it showing on our reports this way, expenditures will carry an unacceptable negative balance. So what do you specifically want from us to have this happen? We have a Board meeting tonight.
Thank you,
Dawn Richey
On July 12, 2021, at 11:19 AM, Stephanie Hahn <[email protected]> wrote:
Good Morning Dawn,
Are you wanting to make a contribution of $5,000 from water operating to water reserves? If this is the case, can you please provide me meeting minutes with this vote listed as this was not budgeted?
Stephanie Hahn
Associate Community Manager
HOA Community Solutions
PO Box 364
Gig Harbor, WA 98335
> (253)985-3812 Office
> (253)649-4667 Direct
> (253)313-1219 Fax
>
> Serving our communities and their members with honesty and professionalism. HOA Community Solutions continuously strives to be a beacon of Excellence in the Community Association Management Industry.
> Our industry has a very high email volume. Please allow for a 2-business day response time to email. If your request is urgent and cannot wait, please call me and leave a detailed message.
>
>
> If I have done something that you feel needs attention, please let me know so that I can have the opportunity to make a correction. If I have done something that you would like to show your appreciation for, please give us a positive review on social media or let my supervisor know by clicking HERE.
>
>
>
>
> —–Original Message—–
> From: dawn richey <[email protected]>
> Sent: Sunday, July 11, 2021 6:15 PM
> To: Stephanie Hahn <[email protected]>; Liz Angell <[email protected]>
> Cc: ‘Anna Hernandez-French ([email protected])’ <[email protected]>; Dave & Mary Tyler <[email protected]>; Karen G <[email protected]>; [email protected]
> Subject: Re: $5000.00 AAB CD matured Jan 2021.
>
> Yes thank you Stephanie, sorry I misspoke on calling it income. What we would like to have happen is it itemized on our 2021 water operating reports below the income section and above expenditure section as Retained earnings water operating $5000.00. I believe it was in 2019 that we had Liz identify $19,000 plus as such also because we were going to expend money directly against that chunk of change. Same plan for the $5000.00 this year. It was the basis for Board’s decision to pull money from Columbia and put it in a CD with Alliance for the intervening time period due to the uniqueness of the money.
>
> Thanks,
>
> Dawn Richey
>
> On 6/17/2021 10:57 AM, Stephanie Hahn wrote:
>> Good Morning Dawn,
>> The funds from the CD that matured are not income for this year. This is money that the Association already had which is listed on the Balance Sheet. When the funds were in the CD, they were already classified as Water Operating funds. This is reported as retained earnings, not new income for this year except for any of the interest earned. Liz has classified the interest as income for the year in which it was earned.
>>
>> Please let me know if you have further questions.
>>
>> Stephanie Hahn
>> Associate Community Manager
>> HOA Community Solutions
>> PO Box 364
>> Gig Harbor, WA 98335
>> Office: (253)985-3812
>> Direct: (253)649-4667
>> Fax: (253)313-1219
>>
>> Our industry has a very high email volume. Please allow for a 2-business day response time to email. If your request is urgent and cannot wait, please call me and leave a detailed message.
>>
>>
>> If I have done something that you feel needs attention, please let me know so that I can have the opportunity to make a correction. If I have done something that you would like to show your appreciation for, please give us a positive review on social media or let my supervisor know by clicking HERE.
>>
>>
>>
>>
>> —–Original Message—–
>> From: dawn richey <[email protected]>
>> Sent: Monday, June 14, 2021 4:51 PM
>> To: Stephanie Hahn <[email protected]>
>> Cc: ‘Anna Hernandez-French ([email protected])’
>> <[email protected]>; Dave & Mary Tyler
>> <[email protected]>; [email protected]; Karen G
>> <[email protected]>
>> Subject: $5000.00 AAB CD matured Jan 2021.
>>
>> Hii Stephanie. just a note.. On Feb reports it shows the $5000.00 AAB CD matured and plus interest was transferred into Alliance Bank acct # —–2425 water operating. Thank you. It also needs to be added to our 2021 water operating budget and reports as misc income(?).
>> The Board’s intent was to expend it this current year on water system
>> needs. Thanks, Dawn
Compliance Committee: No committee members in attendance.
Special Events: no report.
Playground Committee- Ed, Karen, Linda and Morgan, Dawn and Teal will get together to discuss the equipment to be purchased.
Budget: Consider a standard purchase order. Move to putting labor into each project budget. There is a handyman that Lake Holiday has and maybe the two communities can share. There is also some concern with liability for volunteers.
Old Business:
Templates for the Compliance Committee moved to the next meeting.
New Business:
Discussion on new meeting place due to size parking and no internet connection.
Discussion on having a potluck with our Annual Meeting.
Meeting Adjourned by Karen at 7:00 pm