Minutes of the Pinnacle Mountain P.O.A. Board
Meeting January 21, 2006
Members Present: Tom Pfaffl, Ronnie
Styles,
Robert Graham, Cindy Maddox, Mark Smith,
Frank Stroman, and James Hardin
.
Secretary's Report
The minutes for the board meeting held on
October 15, 2005, were approved as written.
Treasurer's Report Jul 2005 through
June
2006 Income Expense
Homeowners dues 30,050
Fees, meetings & website 950
Road Insurance 480
Grading and Ditches 2320
Gravel 6545
Pinnacle South 2190
Tree Cutting 715
Fiscal Year 05 Project 499 Fiscal Year
06
Project 6759
Other Road Maintenance 2668
Total Expenses 23,125
Interest Income 505
Net Income 7,381
Banking Accounts
Checking 8279
BB & T CD's 14,256
Total Checking and Savings 22535
Accounts Receivable 350
Total Current Assets 22885
Road Committee
Maintenance Budget 2006 17,512
Expenditures through 12/6/05 12464
Remaining Balance 5,048
Pinnacle South 2006 Budget 4,500
Expenditures to date 2190
Remaining Balance 2,310
Special Assessment Budget 2006 13,012
Expenditures to date 10,275
Remaining Balance 2,737
Fiscal year projects 2005 and 2006
are now
complete. Special thanks for special
efforts
by Dave McCaughan for the 2005 projects
and
Frank Stroman, Ron Maddox and Cindy
Maddox
for the 2006 projects.
The road committee would like to emphasize
the difficulty in getting contractors
and
vendors to work on the mountain. The
association
needs to do everything possible to
expedite
payments to our contractors/vendors.
We will
check with BB&T to obtain a credit
card
for the association with a $500 limit
to
expedite small payments. The treasurer
would
hold one of the cards and the other
card
held by a resident member of the Road
Committee.
The Committee members recommended that
the
road maintenance budget be increased
by 25%
primarily to cover the increased cost
of
gravel but also to cover the increased
price
of all road work.
The Road Committee unanimously reaffirmed
its support of an impact assessment
fee of
$1,000 with the approval of building
plans.
This would cover the cost of three
loads
of gravel, two loads would be placed
in the
immediate area and the other load to
be used
as needed. The board felt that this
is an
item that would need to be discussed
and
voted on at the general meeting.
The Committee also pointed out that
the lower
association is not satisfied with our
current
policy for subsidizing their road maintenance
costs. The committee does not recommend
we
change our current policy.
Architectural Committee
A final version of the architectural
guidelines
will be discussed at a special meeting
on
June 3, 2006. The approved guidelines
will
be presented at General Meeting in
July.
New Business
The board recognized the increased
costs
for grading and gravel and will support
a
$50 dues increase to be presented at
the
General Meeting.
Past experience indicates that each
new construction
site costs approximately $1,000 for
gravel
and grading that is currently shared
amongst
all property owners. The Board will
support
a $500 fee as a way of sharing the
costs
between the property owner for the
construction
site and all association members. This
is
an item for discussion at the general
meeting.
We have one property owner that now
is $450
behind in fees. Since this owner has
their
lot for sale, it was recommended that
we
send a letter to the real estate agency
to
insure this item is covered at closing.
Since
the meeting through an exchange of
emails,
we think this problem has been resolved.
It was noted that some people at the
general
meetings are reluctant to vote against
proposals
in a show of hands situation. It was
approved
that votes that are required for board
members
and financial matters will be conducted
by
written ballots. In a related item,
it was
noted that all board meetings are open
to
association members. There can be a
closed
portion of the meeting if needed.
There will be a special budget meeting
by
the board at 10:00 AM at Tom Pfaffl's
house
to approve the fiscal year 2007 budget
to
be presented at the General Meeting.
The
final version of the architecture guidelines
will also be discussed. The minutes
from
the April board meeting , the June
Budget
meeting and the Agenda for the general
meeting
will be distributed with the billing
for
Association dues will be distributed
30 days
prior to the general meeting to be
held on
July 15, 2006.
Next Meeting
The next meeting will be at 10:00 AM
on April
22 or April 29, at James Hardin's house.
Meeting Adjourned
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