Las Cordilleras Subdivision Home Owner’s Association
Annual Meeting 2009
Minutes
Call to Order
Las Cordilleras Subdivision Home Owner’s Association Annual meeting was called to order by HOA President Lynne Fowler on February 27, 2008 at 6:16PM.
The meeting was held at the Hotel Santa Fe, 1501 Paseo de Peralta, Santa Fe, NM.
In attendance were Rebecca Bradshaw, Lynne Fowler, Eric & Pat Freeman, Michael Holland, Don LoCrasto & Joan Seltzer, Bill and Lore Pease, Pat Lewis, Holly Wright and Cindy Steputis.
A proxy vote was forwarded by William and Judith Petrick, owners of Lot 16.
Introductions
Lynne Fowler introduced Rebecca Bradshaw, Eric Freeman, Michael Holland, Bill and Lore Pease.
Lynne thanked Bill and Lore Pease for past efforts as property manager and book-keeper/accountant (respectively). She proposed that the budget be discussed first to accomodate the Pease’s need to leave early. Bill handed out copies of the 2008 Financial Report/2009 Budget exhibit. Lore explained her reasons for departure now - she has accepted a position of CEO at a local healthcare organization, elderly parents in hospice. Bill will be available to help as a consultant in ongoing HOA operations.
Proposed 2009 Budget
Lore Pease led review/discussion of the 2008 Financial Report and Proposed 2009 Budget hand-outs.
Financial report for 2008
Discussion:
Question: Pat Lewis questioned about the ACC - what does the ACC do, etc. Lynne explained ACC process and ACC line item accounting.
Question: (Holly) what bank are the funds deposited - New Mexico Bank and Trust. Brief discussion on stability of local banks.
Lore -- 2009 Proposed budget comparing 2008/2009
Addition of Phase III- Five lots
Reserve Fund becomes general and not specific to any one project.
Lynne talks about two things happened last year.
- Addressing the change in reserve definition, all common area, not specifically to the road
- Need for clarity on CAM expenses : Addition of Line Items for Expensing CAM
Question: Pat Lewis getting clear on Kaloko paying dues and the roads being handled in common.
Question: Don Lo Crasto- can we turn the road over to the County. Lynne describes process.
(Back to Lore and Proposed Budget)
Lynne: trying to create a way of tracking ACC expenses , explains that review does incur expenses.
Lore – CAM Categories, Other Expenses
Lynne addressing Reserve reduction - 2008 $14k/ 2009 $12K
Adding new line items in CAM budget, juggling various categories
Phase II roads were challenged by rains, edge flaking. Shoulder repair on Aguila
Lynne asks for resolution to approve 2009 budget
Motion to approve 2009 budget was made by Pat Lewis.Second by Holly Wright
Budget approved unanimously.
Old Business
Review/Approval 2008 Annual Board Minutes
Old Business:
Lynne: we made every attempt to separate reserve accounting,
will follow up on interest accounting, separate ACC accounting
Lynne:Does anyone want to discuss Old Business?
Discussion:
Don LoCrasto wants to discuss 2008 minutes, won’t approve minutes unless two issues are corrected.At issue w/
1) Well Administrator – Don is OK although doesn’t remember the point being made.
Don is upset about not (ever) receiving a well group budget.
2) Kaloko sentence, “Kaloko still holds majority of votes but will speak to the developer’s lawyer regarding changing well fees” (Lynne will strike)
Correction was made: Strike Kaloko sentence
Motion to approve 2008 minutes was made with corrections by Pat Freeman. Second by Cindy Steputis.
Minutes approved with corrections, unanimous.
Pat Lewis wants clarification about well administrator duties. Unclear on need for reserve on well, as other wells she is involved with do not have a reserve.
Don expresses dissatisfaction about well administration and setting annual reserve fees for the well.“Every year we try to resolve this and call the administrator guy…”
Holly asks for the floor to try to resolve the Phase I well administration..
Had a battle getting funds back from Wolfe, trouble with bank fees. Well group administration and financial/legal liability.
Holly Wright proposes we move to the Well Administrators report and Lynne agrees.
Well Administrator Report
Holly steps up to conduct well administrator report for Well #1.
Hans Wolfe collected funds and held them in his own name. $5369.50 was recovered from Hans before he left the country.
Lot 2 in arrears 2006 and 2007 now current, all lots current at year end.
$600 payments seem excessive, discussion of fee reduction strategy. Called a well company to find out what the expense was to repair or re-drill well.
Holly: SeeReport
Lynne:Has issue w/ name of the listed non-profit/ Lynne and Holly will talk with each other about the issue, Lynne proposes LC Well Group 1. As it stands now the well group is listed as Las Cordilleras HOA
Introduction and Resolution to Hire Bookkeeper
Lynne introduces Lori Innes and offers a brief resume for everyone to review.
Motion to approve Lori Innes as HOA bookkeeper was made by Lynne Fowler.Seconded by Pat Lewis.
Lori Innes to be hired as bookkeeper: approved unanimously.
(back to) Well Administrator Report
Eric Freeman: See report
Brings up well heater idea which was installed for future guarantee of non freezing within well housing.
New Business
a. HOA management search: Lynne looking for HOA management company, hasn’t found one yet. Suggestion had been made to run HOA w/out mgmt co.
Election of Directors
The 2009 Board of Directors is:
Lynne Fowler
Eric Freeman
Michael Holland
Lynne Fowler makes motion to stick w/ existing board
Vote approved unanimously.
Adjournment
The meeting was adjourned at 8:00 PM