RIDGEMARK UNIT XI HOMEOWNERS ASSOCIATION BOARD MEETING

MINUTES FOR FEBRUARY 12, 2019

RIDGEMARK CLUBHOUSE

The meeting was called to order at 7:00 pm.

Board Members Present:  The following were present:  Heidi Lipp, Carol Reed, Parris Giunta, Bill Baker, and Fred Abraham.

Visitors:  Bob Howell, Jerry Lane, Rick & Mary Avidano, Mike & Jennifer Kivlehan, and Vesta Maxwell.

Minutes:  The minutes from the November 14, 2018 were approved.

Committee Report:  The financial report and 2019 budget were presented by Bill Baker and approved.  No increase in quarterly dues are budgeted for 2019.

 

Balance Sheet

As of December 31, 2018

 

ASSETS

Current Assets

Checking/Savings

Union Bank – Checking                              32884.08

Union Bank-CD                                           28272.12

Total Checking/Savings                                           61156.20

Account Receivable

Accounts Receivable                                    -4110.09

Total Accounts Receivable                                        -4110.09

Total Current Assets                                                  57046.11

Other Assets

Restricted Cash-Reserve Account            75500.00

Total Other Assets                                                75500.00

Total Assets                                                         132546.11

LIABILITIES & EQUITY

Equity

Retained Earnings                                      124064.02

Net Income                                                      8482.09

Total Equity                                                           132546.11

TOTAL LIABILITIES & EQUITY                                   132546.11

 

2019 Budget
		2019
		Projected	Unit/Month
Income:
	Dues	$68,804
	Late Fees	$500
	Interest Income	$800
	Document Fee Income	$150
	State Tax Refund	$10
	Transfer Fees	$400
Total Income		$70,664	$57.17
Expenses
	Security Service	$55,003
	Security Systems	$0
	Insurance	$820
	Accounting	$4,000
	Taxes	$200
	Office Supplies & Expenses	$500
	Postage and Delivery (Previously incl. with Off. Sup.)	$25

 

	PO Box Rent (Previously incl. with Off. Sup.)	$150
	Signs	$0
	Legal Fees	$500
	RM Unit XI Road Maint (incl. Easement)	$3,000
	Road Fund Annual Deposit	$10,000
	Common Area Tree Maint. – Landscaping	$12,500
	Meeting Room Fee	$900
	Bad Debt	$100
	Storage	$850
	Web Site Maintenance	$100
	Travel and Entertainment (Block Party)	$500
Total Expenses		$89,148	$72.13
Net Income  (In/Out Road Fund)		-$18,484

 

Architectural Review Committee:

Lot 704:  Update requested from golf course.  ARC will send letter to homeowner regarding fig tree.

Lot 631:  No current violations.

Lot 671:  Harry will contact homeowner regarding mature hedge or enclosure.

Lot 637:  Check just received from Security Company’s insurance company.                                                            Homeowner has hired a contractor to repair mailbox.

Lot 700:  Request for approval of exterior house paint color.

Old Business:

Roads and Guards Report:  Access to CSA-9 Funds were discussed.  Security Company costs have increased but RMXIHOA will have no increase in monthly fees.  RMHOA have absorbed the increase this year.

Landscaping Services:  The Board voted to approve the new landscaping company, Al Fresco Landscaping.  Al Fresco will start immediately.

Resurfacing Roads:  The best quote for resurfacing is $63,000.00.  White marking painting is $1500.00.   Re-striping is $4500.00 if needed.

The estimated dates are June 10 – 11.  Phase I will be Paullus Dr. and connecting streets and courts.  Phase II will be Ridgemark Dr. and Rob Court.

Due the amount of the is expenditure, a ballot will be sent out for homeowner approval.  The Board will actively pursue CSA-9 funds.

RMHOA Agreement Committee:  Board Members will meet to discuss access to our roads and other development agreements.

General Phone Service:  Parris discussed using the Grasshopper Phone Service for contacting the officers of the association rather than listing their numbers and email addresses on the website.  He estimated the cost of $26.00 a month.  Parris will check on cancellation policy so the service can be installed and tested.

New Business:

Election Results:  Mike Kivlehan was sworn in as director for a two year term.

The regular meeting was adjourned at 7:48 pm.

The board conducted an organizational meeting for the new board. Parris Giunta agreed to remain on the board until a replacement is found for open board position.  Dennis Hughes and Fred Abraham have resigned from the board.  Bart Racca and Paul Namkoong have been appointed by the board to fulfill the term of these directors.  The officers for this year are:

Harry Hill, President

Bill Baker, Secretary/Treasurer

Carol Reed, Common Area Landscaping