Meeting called to order at 11:00 a.m.
Members Present: Gregg Hupp, Dan Quail, Bev Rothenborg, Bob Edelblut, and Jack McKay
1. Approval of minutes: Minutes for May .. approved.
2. Financial Report:
Adjusted balance as of May 31, 2006, $18,996.
Moved by Edelblut to return $5,000 to the reserve fund. Seconded by
Quail. Passed.
3. Maintenance: Concern about planting flowers next to lattice work. Be aware of dry rot caused by flowers to close to wood. Replacement of window frames that have deteriorated. Road repair to be done in coordination with the Bay Club blacktop projects
4. Landscaping: Handling
concerns and catching up on items to be done.
Please monitor irrigation concerns for adjustments and report issues.
5. Set 2006-07 Annual Assessment:
Moved by Bev Rothenborg to approved a 5% increase in annual assessments for 2006-07. Seconded by Bob Edelblut. Passed ($647*1.05 = $680 per quarter)
6. Set 2006-07 Special Assessment:
Moved by Bev Rothenborg to approve a special assessment equal to 5% of the 2005-06 operating budget for the Seconded by Bob Edelblut. ($108,560 * 5% / 46 = $118 per homeowner) Passed.
July payment is $ $680 + $118 = $798.00
7. •2006-07 Budget:
Moved by Bev Rothenborg to approve the proposed budgets for 2006-07, subject to CC&R amendment vote. Seconded by Bob Edelblut. Passed.
Two proposed budgets:
With passage CC&R amendment: $127,100 in expenses
With no change in CC&R amendment: $119,100 in expenses
8.
•Approval
of Annual Meeting Agenda: Discussion of sequence of items.
Request that the Reserve Study and the Audit be completed.
9. Approval CC&R Amendment materials
How does the Board communication the implications of the reserves? Add materials to the website. Presenting a significant increase (e.g., from $10,000 annually to $25,000 (9%) or $36,000 (19%) for reserves.
10. Adjournment: 12:45 p.m.