Minutes of the Pinnacle Mountain P.O.A. Board
Meeting.............January 17, 2004
Members Present: Tom Pfaffl, Riley Ethington, Ronnie Styles,
Robert Frick, Cindy Maddox, James Hardin
Secretary's Report
The minutes of the board meeting of October
4, 2003 were approved with the following
change - a date for the Road Committee meeting
was changed from 4/11/2003 to 11/4/2003.
The Fall Newsletter was mailed to 51 property
association members while forty-nine of the
members received their newsletter by email.
Treasurer's Report
From July 1, 2003 thru January 15, 2004 we
paid expenses amounting to $13, 097.68 and
had income of $20,848.81 (Property dues and
interest). The major expense categories were:
- Snow plow purchase $1,291
- Roads $10,501
- Insurance & Legal fees $627
- Other $679
The association has approximately $5,740
in the checking account and $11,171 in Certificate
of Deposits.
Cindy asked Ronnie if the current software
could better categorize all road committee
expenses (repairs, purchase, administration,
etc.)
Ronnie reminded everyone that receipts need
to be forwarded to our Treasurer for reimbursement
and record keeping.
Our current CD's are up for renewal in January.
The board voted to place the amount of the
remaining 2003 reserve fund (approximately
$9,500) in a 6 month CD, and $1,671 in a
3 month CD that we can use for expenses in
the 4th quarter. The remaining amount in
checking is sufficient operating funds for
the current 3rd quarter.
Road Committee Report
The road committee provided the board with
written minutes of their past meetings. A
summary of the committee's accomplishments
since the last board meeting are as follows:
- Elected a new chairperson and secretary.
- Approved and purchased a snowplow that
Ron Maddox can attach to his vehicle to plow
the roads as necessary
- Agreed to purchase an enzyme product for
evaluation that is sprayed on the roadway
gravel. It has the potential to ..reduce dust and also to extend the life of
the gravel. This product will be tested in
the spring.
- The road evaluation report has been reviewed
and the corrective actions have been scheduled.
- Cost projections for the remainder of the
year have been made, and the costs for this
year could exceed the
budgeted amounts.
Architectural Committee Report
There are currently six members on the architectural
committee with several members not actively
participating. If anyone is interested in
participating on this committee, they can
notify Ron Maddox the chairperson or any
of the board members. The committee continues
to work on the architectural definitions.
They also sent a letter to a property owner
requesting that the portion of their lot
that was cleared during the building process
be re-seeded as required in our covenants
and restrictions. No new plans have been
reviewed this quarter
Safety Coordinator Report
The 1st priority continues to be the establishment
of a dry hydrant on Chalk Lake, which can
provide a 300,000 gallon water source for
fighting fires on the mountain. An agreement
in principal has been reached with the lake's
owner. A legal agreement is needed before
we will move forward.
Budget Review
Riley provided an expense and income analysis
for the last 5 years. This analysis shows
that we have spent more than we brought in
for the last three year, reducing our reserve
fund. The major factor effecting this erosion
of our reserve fund is the increased road
maintenance costs generated by more homes
built (averaging 5 per year) and severe road
damage caused by the unusually wet weather.
The board approved posting our operating
budget and the 5 year analysis in the member's
only area of the web site.
There was a substantial discussion regarding
our expenses and the expected income over
the next few years. At the next board meeting
in April 2004, the board will determine a
course of action to meet our future expenses.
Some potential expenses for the future are:
-Security
-Safety and fire prevention
-Alternate access road
- Road improvements and increased maintenance
costs
Any change in the dues structure would require
final approval by a majority vote at a general
meeting.
New Business
A new rule was approved and added to Category
C of our Rules & Penalty regulation that
states "All property owners are responsible
for excessive road damage done to association
common roadways by themselves or anyone in
their contract." Also, the sanctions
for Category C now include the statement
"One time assessment equal to the amount
of actual damage."
A proposal was presented to the board to
review our late penalty fee process. The
board will investigate and make a recommendation
at our next board meeting.
Next Meeting
The next board meeting will be at 10:00 a.m.
on April 17, 2004 at Tom Pfaffl's house.
Meeting Adjourned
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