Minutes of the Pinnacle Mountain P.O.A. Board
Meeting January 20, 2007
Members Present: Tom Pfaffl, Ronnie
Styles,
Robert Graham, Cindy Maddox, Mark Smith,
Frank Stroman, and James Hardin
Secretary's Report
The word "identify" should
be replaced
with "indemnify" in the following
sentence. Mark Smith introduced a motion
for the association to identify all
association
board and committee members so they
will
not personally be responsible for all
litigation
costs and expenses that might arise
from
the performance of their duties.
In the last minutes there was a paragraph
related to overnight parking in the
entrance
lot. It appears that an individual
lot owner
put the notices on the lower association
approval. There is no overnight parking
restriction.
All owners should only use this lot
as needed.
Treasurer's Report Jul 1, 2006 through
Jan
20, 2007 Income Expense
Homeowners dues 20,600
Fees, meetings & website 873
Road Insurance 480
Grading and Ditches 3240
Gravel 6173
Pinnacle South 3254
Dave Robinson's Road Maintenance 475
Total
Expenses 14,495
Interest Income 36
Net Income 6,141
Banking Accounts
Checking 3,465
BB & T CD's 20,907
Reserve Fund 1,445
Total Checking and Savings 25,817
Accounts Receivable 950
Total Current Assets 26,767
Credit cards with a $500 limit have been
issued to Robert Graham, Ronnie Styles and
Cindy Maddox to help expedite payment to
contractors. There will be no change to the
expense approval process. The problems with
payments for the lower association occurred
because of questions regarding the work performed
as stated in the invoice. These payments
will be managed in the most cost-effective
manner for our association.
Road Committee Report
Our gravel delivery company has stated that
they are backed up with orders for the next
6-12 months. Since the roads are in good
condition, this is not an immediate problem.
The committee will continue to monitor this
situation. We also expect the cost of grading
to increase this year as fuel costs have
increased.
The reflectors that have been installed seem
to be helpful. The committee is still experimenting
with different reflectors based on price
and durability. The objective is to place
12 reflectors on each curve with a drop off.
Robert Frick will replace Dave McCaughan
on the road committee.
Other New Business
Bill McDonald and John Smith are new officers
in the lower association. Bob Graham will
send them a letter enclosing our pre-existing
policy regarding our contribution to the
lower association road maintenance expenses.
There are two outstanding problems with regard
to collecting late fees. Tom Pfaffl will
send the board members copies of the letters
sent to the owner of Lot #52 in the fall
of 2006. The board's recommendation is that
the lot owner needs to use his title insurance
to pay last year's dues and he needs to pay
the amount stated in the letter for the current
association dues. Tom will see the lawyer
about putting a lien on Lot #64 (who has
already received a registered letter requesting
payment) for all back dues and attorney fees.
These people need to contact the board regarding
any disputes with this policy.
Some members of the lower association have
expressed a level of interest in combining
our two associations. Our board is willing
to meet with their representatives to discuss
this issue. We all realize that there are
a number of outstanding issues, such as differences
in covenants, amount and payment of fees,
current assets, etc. Any discussions would
be of a very preliminary general discussion.
The board would not expect to make any decision
regarding a combination of the two associations
without obtaining approval at a General Assembly
meeting.
The next board meeting will be held at Tom
Pfaffl's house on April 21 at 10:00 am.
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