Minutes of the Pinnacle Mountain P.O.A. Board
Meeting June 3, 2006
Members Present: Tom Pfaffl, Ronnie Styles,
Robert Graham, Cindy Maddox, Mark Smith,
Frank Stroman, and James Hardin
.
Architectural Committee
Bob Johnson presented the architectural;
committee package which included:
Pinnacle Mountain Association Declaration
of Covenants and restriction
Application for Architectural Review Form
List of contact numbers of county and utility
departments
How to obtain a building permit in Rutherford
county.
The package as written was approved by the
board. There will be copies available at
the meeting. Anyone needing more information
or ready to submit plans can contact Bob
at 843-272-4336 or rjohnson122@sc.rr.com.
Treasurer's Report Jul 2005 through June
2006 Income Expense
Homeowners dues 30,100
Fees, meetings & website 986
Road Insurance 480
Grading and Ditches 2680
Gravel 6545
Pinnacle South 2917
Tree Cutting 715
Fiscal Year 05 Project 499 Fiscal Year 06
Project 6759
Other Road Maintenance 2668
Total Expenses 24,248
Interest Income 505
Net Income 6,357
Banking Accounts
Checking 7155
BB & T CD's 14,256
Total Checking and Savings 21411
Accounts Receivable 450
Total Current Assets 21861
Road Committee
Maintenance Budget 2006 17,512
Expenditures through 12/6/05 15,112
Remaining Balance 2,400
Pinnacle South 2006 Budget 4,500
Expenditures to date 2917
Remaining Balance 1,583
The dues for fiscal year 2007 (July 1, 2006
thru June 30, 2007) will remain at $250.00
($200.00 if paid by August 15th, 2006). The
board approved the following procedure change
which will begin in fiscal year 2008 (July
1, 2007 thru June 30, 2008) The fiscal year
will continue to run from July 1 to June
30th. A budget will be prepared for the annual
meeting. Both the budget and the dues for
that fiscal year will need to be approved
at the general meeting. The date for assessing
the late fee will be moved back to September
215th from August 15th. This will help in
three areas:
1. The board will no longer need to budget
two years into the future
2. It will eliminate the need for special
assessments as budgets and fees will be balanced.
3. Hopefully, it will improve attendance
at the general meeting.
The budget for fiscal year will be essentially
the same as the previous year with the following
exceptions. This is all being presented in
round numbers, the final exact numbers will
be presented at the general meeting. At the
time of the board meeting we had approximately
$6300 of income for fiscal year 2006. $1,000
of that amount will be transferred to the
Reserve fund. This is the first time we have
been able to do this in a number of years.
There is still $1,600 available for Pinnacle
South reducing our balance to $3,700. Of
that amount, $2,400 is still available for
road maintenance and we expect most of that
to be used by July 1, 2006, leaving a balance
of $1,300. The $1,300 will be added to the
road maintenance budget for fiscal year 2007.
This will help pay for the increase cost
of gravel without raising dues. In addition,
any of the $2,400 that is not spent for road
maintenance in the current year because of
timing with contractors will be transferred
to the next year's budget. If Pinnacle South
does not use the $4,500 budgeted for this
fiscal year, the money will be reserved in
the 2007 budget but can only be used with
approval of the board.
Next Meeting
The next meeting will beheld immediately
following the general meeting.
Meeting Adjourned
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