POA Meeting Archives
May 18, 2019 Annual Meeting
April 2018 to March 2019 Income Statement
2019 Meeting Minutes
April 1, 2019 Balance Sheet
March 2017 to March 2018 Income Statement
2017-2018 Estimated Budget
March 18, 2018 Balance Sheet
2018 Annual Meeting
2016 Annual Member Meeting
The Annual Meeting for 2016 was held at 11 am, May 7
The Agenda was as follows:
1. Updates to the CCR's info. Per Section 12.2 CCR's, during this time that declarant controls the right to appoint the BOD, CCR changes are allowed via majority vote of the Directors. No changes or input from the members.
2. Review of last years spend and this years budget & upcoming runway slurry seal. It was agreed and approved by TL, BM to proceed with a bank loan for the budget deficit.
3. Other items of interest to members
4. Per Section 6.1 of the Bylaws, prior to expiration of Class B membership (declarants votes) board members are appointed by the Declarant, if you wish to be on the board come to the meeting and/or discuss with a board member. We are reviewing having one board member from the Lot owners at large to fill the Secretary/Treasurer seat.
We encourage all lot owners to attend.
March 2015 to March 2016 Income Statement
April 9, 2016 Balance Sheet
2015 Board Budget Review Meeting
March 16, 2015
Time: 9:00 a.m.
Location: By Phone Only
Dial In Number: 1-302-202-1112 code 380735
Agenda: 2015 budget "final" approval.
1. Review of budget for 2015 and costs for 2014.
2. Final board decision on deferred runway maintenance & methods to fund.
3. Review of the CCR's/bylaws for typos, clarifications, and minor considerations not contemplated in the original filings for presentation at the annual May 2 meeting.
4. Garbage collection and facilities is a new cost that has just recently occured with monthly service fees for the benefit of members starting in March and paid by the POA.
5. The CCR's require that the runway be maintained in proper condition. Thus the board has determined that the runway is in need of slurry seal to avoid repaving in a few years (at a much greater cost). Regardless, the runway is a valuable asset worth protecting to ensure optimal resell value of member lots. The Board is expected to rule on tasking itself to obtain a loan for 80% of the sealing costs. Thus a reserve set aside for 2015 & 2016 for a 20% downpayment is included in the budget. The boards proposed budget is designed to avoid a lot owner special assessment assuming a loan can be obtained.
6. A board majority vote is required to increase the lot owner annual assessment. According to projections the dues will need to be raised to $250. This is the first increase in many years. The $85 incremental amount is principally to pay back the garbage facility loan, pay a monthly dumpster fee, and for the annual, runway slurry seal reserve to be used for the loan downpayment and the follow-on loan payments. The board is proposing the sealing to be completed no later than Fall 2016. The loan will fund the costs (with the annual reserve to ensure sufficient funds for paying the loan facility).