Bradford Farms Homeowners Association
Board of Directors Meeting
December 20, 2005
The meeting was held at the Madison Assembly of God church and was opened at 6:00 pm.
Board Members Present: Jim Terry, Rosemary Terry, David Seitz, Keith Ryan, Richard Clem, Paul Hurst, and Philip Gaultney
Property Manager Present: Lois Brown
Guests Present: Bob Richardson and Rik Holeman
Reading of the Minutes: The minutes of the previous meeting were approved via e-mail. After approval, the minutes were posted on the home page at http://bradfordfarms.com.
Treasurer’s Report: None
Property Manager’s Report:
Total expenses for November: $1,239.30
Total deposits made for November: $ 631.75
Current cash balance (not including CD’s): $19,183.80
CD balance $13,662.80
Total HOA funds on hand: $32,846.38
Landscaping Committee Report: Dick presented a verbal, commitment from Turf Tamer, Inc. for services for 2006. He stated he will be getting a written contract from Turf Tamer, Inc. stating the services we will be receiving and the exact cost.
Dick reported the five Cleveland Pear trees were planted.
Maintenance Committee Report: Dick asked for professional help in getting the leak in the sprinkler system at the entrance of the Bradford Farms Subdivision repaired. The leak appears be under Bradford Farms Drive. The leak has caused an increase in the monthly water bill.
Dick is to meet with the water department to discuss another leak on the city’s side of the meter. He will attempt to get the city to repair their leak.
Welcome Committee Report: None
Old Business:
1. Budget for 2006
Operating expenses for 2006 were estimated at $24,670.00. The $9,000.00 previously voted on will be subtracted from this amount. Because there is $32,846.38 in the Bradford Farms Homeowners Association account, Jim Terry stated that no dues could be charged in 2006. Discussion followed and board members agreed that the dues would remain the same each year until the surplus is depleted. The secretary pointed out that we are a non profit organization and are not supposed to make a profit. The property manager agreed. The amount of $85.00 for 2006 dues was proposed by Dick Clem. This amount of dues will bring in $15,670.00 for 2006. A vote was taken on the amount of $24,670.00 for the 2006 budget. Voting for this amount were Dick Clem, Paul Hurst, David Seitz, Philip Gaultney, and Jim Terry. Rosemary Terry voted against this amount because the amount includes expenses that have not been utilized for several years. Keith Ryan participated in building the budget but abstained from voting. Dick Clem moved for a vote for $85.00 dues for every homeowner. Voting for this amount were Dick Clem, Paul Hurst, David Seitz, Philip Gaultney, and Jim Terry. Voting against the $85.00 dues was Rosemary Terry. Keith Ryan abstained from voting. The motions passed and the budget for 2006 is $24,670.00 and the dues will be $85.00. The board will also have an on hand cash balance of approximately $17,000.00 from 2005 and collectable fees of $15,670.00 in 2006. The board will have approximately $32,000.00 plus a $10,000 CD.
New Business:
1. Lois Brown will write a check to the Madison Assembly of God Church for the amount of $100.00 as a thank you gesture for allowing the association to use the church for our monthly meetings.
2. Paul Hurst moved to have Lois roll the CD over for 7 months. Voting to do this were David Seitz, Dick Clem, Paul Hurst, Philip Gaultney, and Jim Terry. Voting against this was Rosemary Terry. Abstaining from the vote was Keith Ryan.
3. Philip Gaultney expressed that maintaining the data base is too much work for the treasurer to do. He proposed that the board give this duty to the property manager and raise her salary because of the increased work. Philip will write a job description for the property manager’s position. The board did not vote on this issue. Dick Clem proposed a raise in salary for Ms. Brown because the price of gas is going up and she has a lot of running around to do and the possibility of adding the treasurer’s duties to her work load.
4. Jim Terry thanked Paul Hurst, Bob and Gloria Richardson, Joe Arriviello, and Dick Clem for decorating the entrance to the subdivision for Christmas.
5. Paul Hurst requested permission to buy two spiral Christmas trees at the cost of $11.98 plus tax each to replace the burned out ones that were used for decorations last year. The board voted unanimously to do this. Paul also requested permission to buy 6 GFI’s at a cost of $12.98 plus tax each to repair some of the lights. The board voted unanimously to do this.
6. Turf Tamer, Inc. has complained that they have not been paid on time. Lois was advised to have their check signed at each previous board meeting and mail it to them on time.
7. The board paid $11.50 in property taxes for the property that was deeded to us from Breland Homes in July. The property has finally been transferred from Breland Home to Bradford Farms Subdivision.
8. Lois Brown received a check in the amount of $1200 for a payment from the homeowner at 104 Champions Green Lane.
The meeting was adjourned at 7:15 pm.
The yearly meeting of the Bradford Farms Homeowners Association is scheduled for January 17, 2006.
The following budget was approved by the Board of Directors for 2006.
|
BOARD APPROVED |
BUDGET FOR 2006 |
APPROVED 20DEC05 |
|
|
|
|
|
|
|
|
|
Account |
|
Account Name |
Annual |
|
|
Number |
|
|
Totals |
|
|
|
INCOME |
|
|
|
|
9001 |
Base Assessment ($85 X 186
homes) |
$ 15,810.00 |
2006 INCOME |
|
|
9002 |
Neighborhood Assessment |
|
$0.00 |
|
|
9003 |
Special Assessments |
|
$0.00 |
HOA Fees 2006 -
$85.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Account Number |
EXPENSES |
|
Amount |
|
|
1000 |
Utilities |
|
|
|
|
1001 |
Water |
|
$ 600.00 |
|
|
1002 |
Electricity |
|
$ 450.00 |
|
|
|
|
|
|
|
|
2000 |
Maintenance |
|
|
|
|
2001 |
Monthly Lawn |
|
$ 9,000.00 |
|
|
|
Flower Beds |
|
$ 100.00 |
|
|
2002 |
Lawn Chemical |
|
$ 1,600.00 |
|
|
2003 |
Tree Service |
|
$ 1,600.00 |
|
|
2003a |
Tree Planting/Removal |
|
$ 500.00 |
|
|
2004 |
Land Scape Committee |
|
$ 250.00 |
|
|
2005 |
Signs/Flags
Entrance/Benches |
|
$ 1,000.00 |
|
|
2006 |
Lake maintenance (animals,
trees, carp, weed removal) |
|
$ 200.00 |
|
|
2007 |
Irrigation |
|
$ 400.00 |
|
|
|
|
|
|
|
|
3000 |
Management |
|
|
|
|
3001 |
Management Services |
|
$ 3,000.00 |
|
|
3002 |
Insurance |
|
$ 2,000.00 |
|
|
3003 |
Collection Services |
|
$ 500.00 |
|
|
|
|
|
|
|
|
4000 |
Administrative |
|
|
|
|
4001 |
Accounting Service |
|
$ 500.00 |
|
|
4002 |
Postage |
|
$ 800.00 |
|
|
4003 |
Copies |
|
$ 450.00 |
|
|
4004 |
Supplies |
|
$ 100.00 |
|
|
4005 |
Attorney Fees/Legal |
|
$ 200.00 |
|
|
4006 |
Web Site |
|
$ 300.00 |
|
|
4007 |
Miscellaneous |
|
$ 200.00 |
|
|
|
|
|
|
|
|
5000 |
Social |
|
|
|
|
5001 |
Social Activity |
|
$ 400.00 |
|
|
5002 |
Welcoming Committee |
|
$ 300.00 |
|
|
|
|
|
|
|
|
6000 |
Taxes |
|
|
|
|
6001 |
Property Taxes |
|
$ 170.00 |
|
|
6002 |
Income Taxes |
|
$ 50.00
|
|
|
|
|
|
|
|
|
|
TOTAL
EXPENSES |
|
$ 24,670.00 |
|
|
|
Lake
Maintenance Funds Applied to 2006 Expenses |
|
$ 9,000.00 |
|
|
|
Remainder
of Expenses |
|
$ 15,670.00 |
|
|
|
|
|
|
|
|
|
Capital
Improvement CD |
|
$ 13,662.58 |
|
|
|
Approximate Balance
in Checking |
$ 16,206.13 |
|
|
|
|
Funds Available
January 2006 |
|
$ 29,868.71 |
|
|
|
Available Funds After $9000 Lake
Maintenance Funds Applied To HOA Fees |
|
$ 20,868.71 |
|
|
|
HOA 2006
Income $85 * 186 Homes |
|
$ 15,810.00 |
|
|
|
Total Funds
Available to Board in 2006 |
|
$ 36,678.71 |
|
James H. Terry