|
BAYSHORE OWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
December 18, 2006
Board Members Present
Lorraine Shore, President
Kari Miles, Vice President
Val Haney, Secretary
Ralph Carney, Treasurer
Cal Larson, Director
Kyle Reeves, Director
Board Members Not Present
Cheri Solien, Director
Staff Present
Susan Green, General Manager
Homeowners Present
Lorne Smette
Guests
None
ROLL CALL/DETERMINATION OF A QUORUM
Lorraine Shore, President, called the meeting to order at 7:10 pm.
ADOPTION OF THE MINUTES
Motion: To adopt the November 20, 2006 Board Minutes
By: Kyle Reeves
Second: Ralph Carney
Passed: Unanimously
TREASURERS REPORT
Treasurer Ralph Carney stated that "the good news is that we have good financials to work with." There was a good budget last year and this year it should not take as long to prepare the proposed budget for 2007. It should be ready for Board review by the January Board Meeting.
- RECONCILIATION: There are some challenges here due to how some of the automatic credit card charges get declined. Bookkeeper Jeanne Maddocks and CPA Darcy Carney are working together to resolve issue.
- OVERVIEW: The total receivables have been reduced by the amount of doubtful accounts that will not be collected in the near future. The receivables equal $18,713.32 less $8,132.82 in current liabilities. Total receivables are more than the total liabilities. If you add in liquid cash, we are in good shape. We have $40,000 in certificates of deposits. $20,000 has been expended on the kitchen remodel so far, by cash and not savings.
HOMEOWNERS COMMENTS
Lorne Smette. Mr. Smette was not present at beginning of meeting and had questions about finances. He wondered if the preschool was "paying for itself." Treasurer Carney was able to assure Mr. Smette that not only was TLC paying for itself, it was supporting Bayshore handsomely and helping keep homeowner dues low. Mr. Smette complimented Susan Green on the good work she is doing at the Clubhouse and happy to see that the financials are improved over last year. He said, "you guys are doing a great job." He had some comments about setting up a security camera on the road or at least posting a sign that said we have video surveillance. He also had comments about a Neighborhood Watch program. President Shore encouraged Mr. Smette to become involved in starting a Neighborhood Watch program here at Bayshore after he expressed a willingness to help.
COMMITTEE REPORTS
Capital Improvement Committee, Lorraine Shore
Fitness Room Paint Color
Board member Cheri Solien supplied color samples to CIC with regard to possibility of repainting fitness room. As discussed at last months Board meeting, the CIC will meet to discuss weight room colors and make a tentative decision that the board can vote on (i.e., colors and who will do work, if change is decided upon). VP Kari Miles suggested that colors be posted on fitness room wall so that fitness users have a chance to comment prior to any final decision.
Kitchen remodel. Tuesday, January 2, 2007 is the date scheduled for the kitchen remodel. Board members will meet at 10:00 a.m. to begin demolition. Community members will be invited to participate. Maintenance supervisor Jeff Johnson will identify breakers and make sure the water is shut off. Pizza lunch will be provided. The Bayshore community will be notified on community board and on website.
Architectural Control Committee, Rhudel Acuna. Chair
No report. No projects reviewed since last meeting.
FACILITY REPORTS
Maintenance Report: Jeff Johnson, Maintenance Supervisor
Water in women's Downstairs Restroom: Let me state clearly first of all that this is a completely unrelated matter to the flooding of the weight room that used to take place on the southwest corner of the building. They are two totally separate issues. The outside issue of flooding has been dealt with already. What is in the women's restroom is a small leak of water on the floor and is entirely unrelated to the flooding of the weight room.
In the north wall of the women's restroom downstairs a 1 foot by 2 foot square was cut out in the sheetrock to see if there were cracks in the concrete wall which would allow water to seep through. Very small, hairline cracks were found but for an 8 (Sept.- Oct.) week period no water was ever observed leaking through them. Water however did come from another direction. From under the west wall in the direction of the women's locker room shower. It is the opinion of the Maintenance Director that the water source may be traced to 2 possibilities.
1st Possibility: The women's shower itself. (Which is the opinion of Taylored Restoration)Taylored Restoration, however, was unaware at the time they did their inspection of the cracks in the foundation wall.What they did find was a rubber sheet under the floor of the shower that was meant to seal the floor. They posed the possibility that this rubber sheet has cracks in it due to aging and shrinkage and so has allowed water to slowly seep through and into the restroom.
2nd Possibility: Cracks in the northern foundation wall just behind the tiled wall of the women's shower room. This is a very real possibility in that just above the women's shower in the crawl space between upper and lower floors large cracks were found along the entire foundation wall running from east to west. Before they were sealed water could be seen dripping from them. These, where they can be reached, have been sealed and no longer allow water to come in through them.
Actually, both of these possibilities may be true at the same time. In any case, the women's shower walls and floor need to be torn out and refinished and while this is done the northern foundation wall could be examined as well and cracks filled if need be. With the approval of the Board the Maint. Dept. will begin soliciting for bids. The best time to have the work done is during Annual Pool Maintenance in April. This would cause the least inconvenience to all users.
The above report was discussed by the Board. They had questions on exactly what Jeff wants to do. It is suggested that Mr. Johnson attend the next Board meeting because there are several questions about the 1) women's bathroom, 2) pond lights, and 3) summer greenbelt contract.
Summer Greenbelt Contract: The Board would like to have background information on contractors, references, and written contract with detailed scope of work. Also an estimate of how many man hours per week is needed for summer maintenance. This will help determine if Bayshore should hire its own summer personnel or have an outside contractor perform the work. Mr. Johnson's father performed the job for many years and the Board hopes that he can provide those answers to Mr. Johnson.
The Learning Center at Bayshore: Susan Green, Educational Administrator
Preschool Fees: The Board inquired whether fees are comparable to industry standards. General Manager Green said they are currently comparable and are reviewed annually. The next adjustment in fees would come in Fall 2007. Part time rates went up this year a bit and may go up a bit more next year. TLC is doing well and nearly full, except for the Tuesday/Thursday part time preschool. A notice was put on the website this month to let the community know that openings are available on Tuesday/Thursday.
New Lead Teacher in Full Day Room: Gina Alili began with TLC in November of this year. She has had many years of experience in early childhood education and is the former director of a preschool. Colleen Gee has been the lead teacher in TLC's full-day room for several years and asked to step aside and take a support position, thus opening the position for Ms. Alili. A new daily schedule for the children is under consideration, along with changes to the classroom that will make it more user-friendly and enjoyable for the children.
Bayshore Operation Report: Susan Green, General Manager
Event rates: Event rates are slated to increase on January 1, 2007. All parties scheduled for 2007 have been notified of the impending change and anyone who has not prepaid for their event is subject to the increased rates. Currently only December carries a higher rate than parties held the rest of the year. With proposed changes, the wedding season of April through August, along with December will carry increased rates over spring and fall.
New Years Eve Party: New Years party will be hosted by neighbors Les & Dee Dennis. There are a low amount of reservations, but a late swell in numbers is expected. Two board members will be in attendance. DJ, catered appetizers, beer keg and midnight champagne are available for $20 to homeowners and their guests. Bayshore subsidizes this party and it is not expected to break-even. It should be within budget of $2,000 for party.
Events: Treasurer Carney suggested we purchase a flag for the event room, along with a microphone. A PA system should be in place prior to annual meeting in May. The PA system has been discussed in past meetings and approval for purchase already in place. General Manager Green purchased a stainless steel coffee urn for the kitchen, to replace a very old aluminum urn.
Staff Christmas Party: The staff at Bayshore held a Christmas party at KOBE restaurant on December 15. All had fun. Guests of staff paid their own way.
Bathroom upgrade: On December 6 a new cabinet with built in sink was installed in the upstairs women's bathroom, replacing a plywood with laminate shelf with sink. The upgrade looks very appropriate and attractive considering that this is the bathroom used for events for homeowners and non-homeowners. Because we had a 10% discount coupon for Lowe's and our own maintenance installed it, the whole project was accomplished for about $850.
OLD BUSINESS
Signatures for Alaska USA FCU accounts: A few last signatures were needed to add additional signers to these accounts. Paperwork was on hand.
Landscaping at Bayshore & Admiralty Bay Drive: Designers for landscaping turned down a request by the Board of Directors for a handrail to be installed with stairs at Bayshore & Admiralty Bay when landscaping is completed next summer. They said that they can only improve it equal to what was previously there and since no handrail was previously present, there is no justification for this use of taxpayer money. In addition, the tentative plan by the MOA provides gravel stairs. The Board directed Ms. Green to let the city know that they are adamant about having concrete stairs due to increased grade after construction, for child safety.
NEW BUSINESS
Soccer field. Treasurer Carney recently attended a PTA meeting and met with Ben Hardwick, Principal at Bayshore Elementary. They discussed the possibility of ASD installing and maintaining a soccer field in Bayshores Track F. President Shore suggested that greater issues such as land value, viability of land, etc. be checked into. When Mr. Acuna of ACC returns, he will be asked to check into these matters. The school could, as part of the deal, provide overflow parking for events in the back teachers lot. Is it possible that we could sell a portion of Tract F for income? These are questions that need to be answered. Also, what is required for event overflow parking? Old minutes may help shed light on overflow parking.
Access to pond/inlet: Secretary Haney introduced the idea of making our pond more accessible to the community, along with a rough walkway down to the inlet from there. Are we interested in opening this up? There is currently a natural corridor to the inlet from the pond that is more accessible in the winter than summer. It would be easier for folks to reach by allowing and encouraging a pathway and providing parking. It may take a couple of creek crossings and additional boardwalk. This is a loved area and would be wonderful to share. The Board may take a field trip to view area this winter and discuss further.
COLA: Manager Green broached the subject of cost of living increase for staff for 2007. Past few years has been 2% which is less than COLA has actually been each of the past two years. Board said any COLA would need to be addressed as part of 2007 budget.
Bonus for staff: Board was provided past bonus figures for staff and asked to decide in executive session on bonus for general manager. Other staff bonuses will be at general managers discretion and fall within budget guidelines.
ADJOURNMENT
Motion: Motion to adjourn the meeting at 8:40 p.m.
By: Kyle Reeves
Second: Kari Miles
Passed: Unanimously
Respectfully Submitted,
Valerie Haney
Secretary
Original draft by Susan Green, General Manager
Final edit by Valerie Haney, Board Secretary
----------------------------------------------------------------------------------
BAYSHORE OWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
November 20, 2006
Board Members Present
Lorraine Shore, President
Kari Miles, Vice President
Val Haney, Secretary
Ralph Carney, Treasurer
Cal Larson, Director
Kyle Reeves, Director
Board Members Not Present
Cheri Solien, Director
Staff Present
Susan Green, General Manager
Rhudel Acuna, Homeowner & ACC
Homeowners Present
None
Guests
None
ROLL CALL/DETERMINATION OF A QUORUM
Lorraine Shore, President, called the meeting to order at 7:10 pm.
ADOPTION OF THE MINUTES
Motion: To adopt the October 16, 2006 Board Minutes
By: Cal Larson
Second: Ralph Carney
Passed: Unanimously
TREASURERS REPORT
Darcy Carney, CPA, of Carney Consulting Group, gave a report on finances, including the following:
- BALANCE SHEET as of October 31,2006
- CASH: Various accounts listed have all been reconciled. The Alaska USA Federal Credit Union checking is our new main checking account. Old account with First National Bank of Alaska will be closed after all checks have cleared. There are $40,000 in certificates of deposit, with $57.91 earned on that account so far.
- ACCOUNTS RECEIVABLE: Management should work with bookkeeper to view all accounts in the "doubtful account" to assess collectability. Any amounts viewed as potentially uncollectible should be written off or there should be an amount in the Reserve for Doubtful Accounts to offset the receivable.
- FIXED ASSETS: These have not changed; figure simply reflects the purchase cost value
- ACCUMULATED DEPRECIATION: This is recorded annually against total assets of $1.7M
- LIABILITY: If assets compare to liability 1:1, the ratio is "healthy." Ours is much greater so we are "very healthy."
- EQUITY: This equals the difference between assets and liabilities.
- PROFIT AND LOSS BY CLASS FOR BAYSHORE AND TLC
- Several reports were presented for review including the following:
- Budget to Actual with combined classes for the month of October 2006
- Budget to Actual with combined classes for the year to date (y-t-d) through October 2006.
- Profit & Loss by Class for January to October 2006
- Budget to actual compares the combined Bayshore and Learning Center ("TLC"). TLC is over budget a little bit on the y-t-d revenue. BOA Party income is double over budget for the month of October. Expenses are a little over, but increases in revenue help offset it.
- Budget to actual "January through December" are again, looking healthy; a little short on actual income but the report is as of today. The facility expense is much higher this month due to concrete work that was done to correct drainage problems near the Clubhouse.
- Profit and loss by class, January through October: Total income of 344,000 for homeowners and 193,400 for TLC. Details of expense are listed by various categories. There are some allocation issues. We still need to break out accounting expenses and utilities between the two classes.
HOMEOWNERS COMMENTS
None.
COMMITTEE REPORTS
Capital Improvement Committee, Lorraine Shore
Ms. Shore introduced the topic of capital improvements. She stated there was a motion by email to determine whether the kitchen remodel project would be approved; and, it was. There was a meeting with Elite Interiors about materials, after which the contract was signed. After initial payment of $30,000, we will be able to "trade out" five parties and pay off the remaining balance over the course of 12 months with no interest. That will enable us to keep our savings intact and we will not have to pull any funds from savings.
A sample of the flooring, wall color, and cabinet piece were passed around for all to view. Elite Interiors will give us a quote for a replacement kitchen door. That was not previously a part of their quote. The Board of Directors will start to demolish the kitchen on January 2nd. Old cabinets and appliances will be given away. Susan will add to website and community board or appliances could be donated to someplace like Habitat for Humanity. There will be an extra dumpster on site for demolition materials.
Starting on January 6, Elite Interiors will come in and put in a new pass through to the deck from the kitchen, etc., as outlined by the timeline provided by Elite. Lorraine and Susan will meet every couple of weeks to make sure everything in on track.
Fitness Room Paint Color
Rhudel Acuna, of the Architectural Control Committee, spoke briefly about colors for the fitness room. He took digital photos to his wife's architectural firm for a free review, as they had done some other fitness centers. They suggested light and off-white colors, nothing too bright or too dark. Mr. Acuna gathered up a bunch of paint samples with a base color and accent trim (three color combinations) and had it available for review.
The CIC will meet to discuss weight room colors and make a tentative decision that the board can vote on (i.e., colors and who will do work, if change is decided upon). Mr. Acuna suggested calling House Surgeons of Alaska for a bid if decide to change the color and want to use outside help.
Architectural Control Committee, Rhudel Acuna, Chair: no projects
FACILITY REPORTS
Maintenance Report: Jeff Johnson, Maintenance Supervisor
Rain Gutter: Tom with Wesco Products, Inc., will be coming out to rehang our existing gutter on the southwest side of the building. This is the last of two steps to help with the periodic flooding that takes place behind the building (cost est. $200).
Pond lights: Sometime last winter we lost connection to the west leg of the wires that feed three of the lake lights. Five of the lights that are fed by the east leg are working fine. Redi Electric came out on October 19, 2006, to assess the problem. A service appointment was schedule with Redi Elect. For Oct 23 to troubleshoot the problem. It was confirmed that there is a break in the line that feed the west side of the pond (This is the last original wiring left around the pond). Redi will give us two different quotes to have the work done next spring to see which way would be least expensive. Bids will be made available to the Board as soon as they arrive.
Floor drain: The 4-inch floor drain in the boiler room down in the sump pit developed a silver dollar-sized hole in it sometime late this fall and is on the list of things to be repaired. Because the first bid to repair came in at $1,700, and the work to be done would require the pool to be shut down, the maintenance department has decided to affect a temporary repair suggested by Jeff Cooper from Central plumbing. Cost is $15 for repair materials, which are Oakum and a tube of plastic seal.
The Learning Center at Bayshore: Susan Green, Educational Administrator
TLC is doing well and nearly full, except for the Tuesday/Thursday part time preschool. The Board suggested letting homeowners know that there are openings by communicating this through the website and community board.
Bayshore Operation Report: Susan Green, General Manager
Insurance certificate for events/parties: It was previously discussed with the board that we were considering requiring specific insurance coverage by the renters of the event room. This is not an uncommon practice in the industry. Ms. Green found that the cheapest policy available for renters to obtain would cost them $200, which seemed unreasonable for renting the room for a six-hour period. Since we are already covered by insurance, the board concurred that we should not make event insurance a requirement at this time.
OLD BUSINESS
None.
NEW BUSINESS
None.
ADJOURNMENT
Motion: Motion to adjourn the meeting at 8:00 p.m.
By: Kyle Reeves
Second: Kari Miles
Passed: Unanimously
Respectfully Submitted,
Valerie Haney
Secretary
Original draft by Susan Green, General Manager
Final edit by Valerie Haney, Board Secretary
----------------------------------------------------------------------------------
BAYSHORE OWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
October 16, 2006
Board Members Present
Lorraine Shore, President
Kari Miles, Vice President
Ralph Carney, Treasurer
Cal Larson, Director
Kyle Reeves, Director
Cheri Solien, Director
Board Members Not Present
Valerie Haney, Secretary
Staff Present
Susan Green, General Manager
Rhudel Acuna, Homeowner & Architectural Control Committee
Homeowners Present
Les Dennis
Dee Dennis
Donna Grenier
Guests
Lou Anne Persons, Elite Interiors
Roll Call Determination of a Quorum
Lorraine Shore called the meeting to order at 7:12 P.M. A quorum was present.
Adoption of the Minutes
Motion: To adopt the September 11, 2006 Board Minutes
By: Cheri Solien
Second: Ralph Carney
Passed: Unanimously
Treasurer's Report
Darcy Carney, CPA, of Carney Consulting Group, gave a report on finances, including the following:
- BALANCE SHEET
- CASH: New CDs approved at last meeting have been obtained, for a total balance of $40,000. They represent a laddered approach with four $10,000 CDs in time increments of 3, 6, 9, and 12 months. Petty cash balance has not been reconciled and is not correct. It will be reduced to 2 accounts of $500 each. The cash amount in Schwab matches the bank statement. The balance of the Schwab account will be closed out this month and moved to AK USA checking or money market. There is $19,500 in the AK USA money market account. Keeping as much money in that account as possible will keep our cash earning interest when it is not needed in checking.
- ACCOUNTS RECEIVABLE: The "doubtful account" represents money that it is unlikely to be collected at this time and is an estimate to make AR more realistic; about $8,300
- FIXED ASSETS: These have not changed; figure simply reflects the purchase cost value
- ACCUMULATED DEPRECIATION: This is recorded annually against total assets of $1.7M
- ACCOUNTS PAYABLE: All bills entered into the system have been paid. Other liability deposits are for parties and represents funds received but not yet earned. Miscellaneous payroll liability consists of payroll taxes, the bulk of which is to be paid at the end of October.
- EQUITY: This equals the difference between income and expense
- PROFIT AND LOSS BY CLASS FOR BAYSHORE AND TLC
- The first column is Bayshore, second column is The Learning Center (TLC) and the third column is the total. On the lower right total is $2207 and is magically the same amount as on the Balance Sheet. This report is a condensed version. There are many, many accounts inside these main numbers that break down into further detail.
- You can see that Bayshore shows a loss of $13,700 and TLC shows an income of $35,000, with a total overall net of $2207. Adjustments will be made to TLC expenses which will lower their net profit and raise Bayshore's bottom line. For instance, adjustments to utilities for TLC plus various other expenses will be made before the end of the year.
- EXPENSES: These are all self-explanatory. As stated before, there still some allocations to be made between TLC and Bayshore, the bulk of which involves utilities to be proportioned appropriately between Bayshore and TLC based on their respective use of square foot usage.
- Based on the figures presented for annual figures, mid-October represents 10.5 months or 87.5%. 82.8% of homeowner dues would be comparative for the benchmark. With average homeowner dues of $25,000 for November and December, it can be projected that dues revenues will fall about $3,000 short of budget, which is not too bad. Party income could come under the same type of analysis, although it does not account for seasonality. The total income is at 82.8% of the budget, only about 5% under projected budget; a small and acceptable margin.
- BUDGET TO ACTUAL FOR THE LEARNING CENTER
- INCOME: 2006 budgeted income was $205,000. 93.6% of that has been met. With revenues up in the fall, as opposed to lower revenues in the summer, income will exceed budget after recording the rest of the year.
- EXPENSES: The budgeting for expenses is not so tight. There are some variances; however, given the total expenses for the year, even taking into consideration the unapportioned utilities, TLC gives every appearance of coming in under budget for the year.
- For many years there has been a question about whether TLC was pulling its own weight or being supplemented by homeowner dues. This report clearly shows that the opposite is true and that TLC is supplementing Bayshore in a positive way.
- General Manager Susan Green reported that staffing was trimmed a year ago and expenses lowered, including having staff use grant money for educational expenses. And, best of all, parents are happy.
Additional information was provided by Susan Green about Alaska USA FCU accounts. $15K in funds for pending drainage work was taken from General checking at First National, per Board instruction in September, and placed in AK USA FCU money market account. At the time that initial and final payments were due, the general checking at First National could bear the cost, so the $15K in funds remained untouched at AK USA FCU. That a total of $60,000 was currently in Alaska USA FCU that was not slated for immediate use.
Ms. Green proposed to Board that general checking at First National be closed and moved entirely to AK USA. Since checking and money market at AK USA are both fluid accounts, we could keep as much money as possible in the money market earning interest until we need to move it to checking for disbursement. That way we keep our money working for us.
Ralph Carney, Treasurer, did not think that a Board vote was necessary to move funds. Lorraine Shore, President, advised that Ms. Green could move the funds to Alaska USA if she felt it made sense. Ms. Green said that the money would be moved in the near future.
Ms. Shore asked Ms. Carney if there were any glaring concerns about current financial statements or about money management. Ms. Carney did not have any major concerns; however, small adjustments would be made here and there from the "mess that was inherited" from old Peachtree accounting software and the conversion therefrom.
Mr. Carney spoke a bit about recording of revenues for events and that generally accepted accounting principles (GAP) would dictate that unearned revenue be recorded as a liability until the event occurs and we have actually earned the income. Ms. Carney and Ms. Green concurred that this would be in place prior to year end and that it has already been a topic of discussion among Ms. Carney, Ms. Green, and Bayshore bookkeeper Jeanne Maddocks. Mr. Carney noted that when it is adjusted to accurately reflect unearned income that the income account will take a "hit" but that it will smooth out over time. He complimented Ms. Carney and Ms. Green on bringing financials and bookkeeping up to date, "You guys are doing a good job on that!" Ms. Shore added that it was nice to know that we are looking at real numbers.
HOMEOWNERS COMMENTS
None.
COMMITTEE REPORTS
Architectural Control Committee, Rhudel Acuna. Chair
Projects
This year set a new record with 132 projects approved by the committee. Mr. Acuna and Susan Green did a fall inspection and sent out about 40 letters covering such topics as putting away building materials before the snow flies.
McMahon Encroachment
Regarding McMahon property and encroachment onto greenbelt walkway, Mr. McMahon obtained a survey and cut out a chunk of his driveway that encroached onto the walkway. The new homeowner will acknowledge that anything that may be remaining on the walkway is clearly owned by Bayshore and there will be no issue of adverse possession.
Mitchell House Color
Regarding Mitchell and color of home, a hearing had been scheduled to discuss it. After review, it was decided by the Board mid-month that the color of white and black would be allowed because there may have been a misunderstanding between the ACC and the Mitchells.
Insurance for Committee Members
Because the Mitchells hired an attorney there was concern by members of the Architectural Control Committee about personal liability while serving on the committee. The members of the ACC were assured that they were covered by general and umbrella policy while they were acting as agents on behalf of Bayshore. The same goes for Board members, committee members, and staff members.
House Colors
At this time the appropriate color of a home is left to the discretion of the current members of the ACC and not to written policy. The ACC was encouraged to set out specifics regarding home colors. Written policy would make the guidelines more clear and, in the case of a dispute, more defendable.
Capital Improvements Committee, Lorraine Shore
Ms. Shore introduced the topic of capital improvements. For the past couple of years, the CIC have been waiting for accurate financials prior to allocating any major funds to projects. In the meantime, past, present, and future projects were placed in three categories: major projects, minor projects, and maintenance (to be handled by general manager). The top two projects were determined as the drainage and the kitchen. The drainage project was completed earlier this month and included new concrete in the playground area and the back door to the basement and fitness room. Flooding was of immediate concern and that was why it was the top priority. The next priority was the kitchen due to age, condition, and presentation with regard to future events that bring in income (i.e. weddings, receptions, dinners). The kitchen has never been remodeled.
There was an extensive presentation by Lou Anne Persons of Elite Interiors regarding their bid on a kitchen remodel. She had price specifications, layout of kitchen, and a cabinet book for Board members to review. She went over the entire proposal that included cabinets, flooring, lighting, appliances, counter tops, and knocking out old roof so that upper beams and roofing are exposed to open up top of kitchen. Although their bid is over the requested limit of $30,000, Elite owner Randy is so committed to the project, he is willing to accept five parties in exchange, along with financing anything over $30,000 over the course of a year at no interest. He believes the kitchen will be transformed. Lou Anne says that we should receive quite a bit of new business due to Randy's contacts. Ms. Shore thanked Lou Anne for her presentation.
President Lorraine Shore outlined for the Board and guests:
That for the past two years, the CIC has been working on prioritizing improvements and maintenance projects. For the past year, they have been waiting for the Peachtree to QuickBooks Accounting software conversation to be complete so that accurate financial statements would be available, making financial planning possible. The number one priority was determined to be the drainage problem to prevent flooding of the fitness room and basement. That problem was resolved this past month for about $13,500 by way of new concrete sidewalks behind the Clubhouse that sloped away from the building and, in addition, new gutters under the building eaves. The second priority is the kitchen. It is extremely old and unpresentable for any kind of functions. It does not lend itself to booking parties and has needed to be updated for a very long time. Now the financial status is in a current state to afford that, and Lou Anne of Elite Interiors is on hand to give us a proposal and what her company can do for us.
Kitchen Remodel
Lou Anne pointed out that with their plan, new cabinets, flooring, appliances, and redo of the ceiling will be included. The kitchen currently has a false ceiling with fluorescent lights and many discolored and/or broken drop ceiling tiles. The proposal includes tearing out the ceiling and finishing the exposed walls above that will show a sloped wood ceiling similar to that in the great room for a dramatic effect. A lengthy discussion ensured about types of appliances, cabinets and so forth. Several measures are being employed to keep costs down. For instance, Bayshore will take care of demolition and will install the snap-together floor tiles. The original sink will be used, but new plumbing will accompany underneath. Instead of purchasing all new Corian slabs for the counter tops, Elite can use stock on hand and make artful designs to fit in varying colors! Owner Randy is very excited about the possibilities of remaking Bayshore's "tired" kitchen into something spectacular and that he can point to as one of their challenges.
Financially, the project was more than originally projected; however, Elite is willing to work with Bayshore to fund project. Under Elites proposal, Bayshore would pay $30,000 upfront, then Elite would accept 5 parties at the non-homeowner rate of $675 per party as an exchange, and the balance would be paid in monthly installments of approximately $1200 until paid in full (about 12 months). This would enable Bayshore to keep all of their $40,000 investment funds untouched.
There is the issue of subflooring under the kitchen floor. Last summer maintenance supervisor Jeff Johnson found a leak under the kitchen sink area that was dripping through the flooring to the crawl space underneath. It is unknown how much floor damage has occurred and cannot be determined until the current laminate is removed.
There was a discussion about expanding the window in the kitchen down to counter-top level and including a "pass-through" to the deck area. This would allow the transportation of food to and from the kitchen directly to and from the deck as opposed to traveling the long way through the kitchen door, hallway, through the event room and then the deck door. Lou Anne will provide a cost estimate in the next week. Cabinets take from 6-8 weeks to arrive once ordered, so after approval, we can schedule the remodel dates.
The Board members agreed that they would conduct a motion via email regarding final approval of the kitchen remodel and the proposal by Elite.
Fitness Room Paint Color
This past month some community members voluntarily arranged for and painted the fitness room after working with a designer to come up with an artsy trim to fuse ceiling and wall colors. Prior to the trim being applied, some neighbors strongly objected to the wall color as being too bold and making the room too dark. In response to the concerns, General Manager Susan Green conducted a survey and gathered neighbor input about the color and suggestions from neighbors as to whether the color should be changed or remain the same. The results of the survey showed that more neighbors strongly disliked colors than liked colors.
Neighbor Rhudel Acuna of the Architectural Control Committee talked about the color yellow and that unless it is fairly light it can seem very bright or bold. His wife happens to work with an architectural design firm and he volunteered to approach them about colors.
The Board decided to table the issue of the fitness room color until next month.
FACILITY REPORTS
Maintenance Report: Jeff Johnson, Maintenance Supervisor
Summer Greenbelt Maintenance: Jeff has three bids in so far from $50,000 down to about $15,000 annually and is waiting for more.
Pond lights: Vice-President Kari Miles said that there are three pond lights out and expressed frustration as this being an on-going problem each year. Susan Green will investigate about the new outage and email board members.
The Learning Center at Bayshore: Susan Green, Educational Administrator
TLC is doing well and nearly full to capacity. Parents ard children are happy overall. A Halloween pajama party is scheduled for the end of October.
Bayshore Operation Report: Susan Green, General Manager
This month the managers report items are all covered in other areas of the meeting.
OLD BUSINESS
Collection of homeowner dues: Attorney Carl Johnson sent General Manager Susan Green a copy of a blank Lien on Property to use in future cases, at our own discretion, which can be an effective tool in collections. Bookkeeper Jeanne Maddocks is experienced in collections and is looking forward to working on same in the near future. She just began work in September and will be tackling collections soon. Homeowner Aikey has been served a copy of the homeowner dues collection lawsuit that was filed against him last summer. The Jordan complaint has been filed in court but he has not yet been served. Another homeowner this month signed a promissory note with confession of judgment and had begun making payments.
NEW BUSINESS
Landscaping design at Bayshore and 100th: We received a proposed landscaping design for the corner of Bayshore and 100th Avenue that will be implemented next summer. Susan Green forwarded copies of the design to members of the Board, Bayshore maintenance dept., and to the ACC. Suggestions received included adding a handrail and suggestions for type of vegetation. These were forwarded to the project administrator, Julie Makela (343-7598) at the Municipality of Anchorage.
ADJOURNMENT
Motion: Motion to adjourn the meeting at 10:11 p.m.
By: Cheri Solien
Second: Ralph Carney
Passed: Unanimously
Respectfully Submitted,
Valerie Haney
Secretary
Original draft by Susan Green, General Manager
Final edit by Valerie Haney, Board Secretary
----------------------------------------------------------------------------------
BAYSHORE OWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
September 11, 2006
Board Members Present
Lorraine Shore, President
Valerie Haney, Secretary
Ralph Carney, Treasurer
Cal Larson, Director
Cheri Solien, Director
Board Members Not Present
Kari Miles, Vice President
Kyle Reeves, Director
Staff Present
Susan Green, General Manager
Rhudel Acuna, Homeowner & Architectural Control Committee
Homeowners Present
None.
Guests
None.
ROLL CALL/DETERMINATION OF A QUORUM
Lorraine Shore, President, called the meeting to order at 7:12 pm. A quorum was present.
ADOPTION OF THE MINUTES
Motion: To adopt the Annual Meeting Minutes from May 2, 2006, as corrected by completing the sentence on page three.
By: Valerie Haney
Second: Cal Larson
Passed: Unanimously
Motion: To adopt the July 17, 2006
By: Ralph Carney
Second: Cheri Solien
Passed: Unanimously
TREASURERS REPORT
Darcy Carney, CPA, of Carney Consulting Group, gave an extensive report on finances, including several written reports. Conversion from old Peachtree accounting software to QuickBooks online is complete. She noted that there is only a small difference in budget compared to actual income and expenses to date of 4%, which is very good.
Ms. Carney has the capability to prepare a month by month analysis of finances to spot trends. This type of analysis was not prepared for this meeting but could be a part of future reporting by request. In addition, she said that bookkeeper Jeanne could prepare a Projected Cash Flow spreadsheet. She reports that 8 to 10 hours of training in QuickBooks was provided by Carney Consulting to staff Susan, Colleen, Lanita, and Jeanne. The new bookkeeping program will save many hours each month regarding merchant services with human error reduced or eliminated. Merchant rates through QuickBooks provides some savings over First National rates. Ms. Carney will continue to monitor ongoing financial data and provide information to the Board. She will provide an engagement letter for ongoing review of the finances of the corporation.
Also discussed:
- Expenses over $1,000 should be capitalized if the life is greater than one year.
- There are too many general ledger accounts and we can reduce the line item entries.
- Payroll could be distributed through direct deposit in QuickBooks.
- Facility rental fees are currently under review and will be increased for 2007.
- There are currently 17 staff of Bayshore Owners Association and The Learning Center at Bayshore (TLC): 7 full time and the rest are part time. Part time staff would include 2 regular part time staff at TLC, along with Bayshore's water aerobics instruction, swim lesson instructor, event janitor, and others who work just a few hours a week.
The subject of moving funds from the Schwab investment account was discussed and it was decided that the funds should be put into Alaska USA because they have the best interest rates available locally. By motion below, Susan Green, General Manager was instructed to take $45,000 and place it at Alaska USA into four $10,000 certificates of deposit in 3, 6, 9, and 12 month investments, along with $4500 in some type of checking or other fluid account that would keep funds more available. These will be managed by the General Manager except for withdrawals.
Motion: I move that the money in the Schwab investment account be transferred into rotating $10,000 CDs that mature in 3, 6, 9, and 12 months. As each of the first three CDs mature, the funds will be renewed into 12 month CDs. Susan Green will manage CDs, except for withdrawals. The balance of the Schwab account will be placed in a checking account at AK USA.
By: Ralph Carney
Second: Cal Larson
Passed: Unanimously
At the current time, financials presented at the Board meeting have been nearly two months old. For instance, at a September meeting, the Board would see financials for the month of July. Having meetings on the 2nd Monday of the month does not allow enough time to prepare financials for the previous month. A general discussed ensured regarding changing the meeting date of the Board to the third Monday of the month so that financials could be for the preceding month and of more value because they are more current, leading to the following motion:
Motion: I move that the monthly meeting date be moved from the 2nd Monday each month to the 3rd Monday each month.
By: Ralph Carney
Second: Cheri Solien
Passed: Unanimously
HOMEOWNERS COMMENTS
None.
COMMITTEE REPORTS
Architectural Control Committee, Rhudel Acuna. Chair
Projects: 127 home improvements projects approved so far in 2006 which will probably surpass the previous record of 130 in 2003. There were two cases on fence encroachment and one about a gravel pad. The ACC will wait until next year for completion of some projects due to impending winter weather. Mr. Acuna, ACC Chair, and Ms. Green, Bayshore General Manager will do a joint fall inspection of the neighborhood before the snow flies. A similar inspection occurred in spring.
The issue of political signs was discussed and Mr. Acuna wondered if it would be trespass to remove political signs from a yard and place them on by a homeowners front door. Board President Lorraine Shore, who is also a police officer, responded that it was only trespass if you are ordered off the property and refuse to leave.
Capital Improvements Committee
The CIC has been waiting to have a meeting until the Peachtree/QuickBooks conversion was complete and up-to-date financial date available. They will schedule a meeting in the near future.
The subject of drainage was discussed. The Board has also talked about this subject in previous meetings and it had been generally acknowledged that the project should go forward. Ms. Green was instructed to have Jeff Johnson, Bayshore Maintenance Supervisor, arrange with the designated contractor to complete the work this Fall if possible to prevent winter flooding of the Clubhouse basement. Funds for the project were directed as follows:
Motion: I move that we take $15,000 out of general checking at First National Bank of Alaska and place it in checking at AK USA; funds to be set aside for drainage project.
By: Ralph Carney
Second: Valerie Haney
Passed: Unanimously
FACILITY REPORTS
Maintenance Report: Jeff Johnson, Maintenance Supervisor
By written report, Mr. Johnson states that the general running of the facility is in good order and there are no major problems to report. He has been gathering bids for 2007 summer maintenance of greenbelts and will present those at the Board Meeting in October. The tennis court cracks have been filled in and the contractor will fill in cracks next summer as part of the warranty. The weight room is set to be painted the weekend of September 22. (See attached written report)
The Learning Center at Bayshore: Susan Green, Educational Administrator
TLC is doing well. They have one new staff member who has a degree in biology and her expertise in that area will be used in science projects with the children. Bi-weekly swimming will continue and we may attempt to offer weekly swim lessons during the school day for an add-on cost. The facility is near to capacity in all classrooms and they are continuing to bring income into Bayshore Owners Association.
Bayshore Operation Report: Susan Green, General Manager
A new bookkeeper has been hired, Jeanne Maddocks. She has many years of experience and comes highly recommended. She was interviewed separately by Ms. Green and also by Ms. Carney, of Carney Consulting Group. Both concurred that she appears to be a good candidate for the position of full-time bookkeeper.
OLD BUSINESS
Tennis court: As reported under maintenance above, Alex Gomez of Alaska Seal Coat made repairs to the tennis court under warranty work and will make further repairs next summer as needed.
Kitchen: The Capital Improvement Committee will have a meeting in the very near future to move forward on this issue. There is no need to get a time extension from the city. Latest inspection with the Fire Dept. was successful and we can remove stove top burners in the future, if needed.
Collection of homeowner dues and fines: A report from Attorney Carl Johnson was emailed to each board member earlier today along with a draft complaint on the Jordan property asking for all past due amounts (approximately $16,000). One homeowner met with Ms. Green and signed a promissory note with confession of judgment for $2,429.29 and will begin making regular monthly payments. Another past due account for about $2,900 has also been making regular monthly payments for the past year.
New Signers on Bank Accounts: New signers are approved for bank accounts: Lorraine Shore, Val Haney, Ralph Carney, Cheri Solien and Susan Green.
Track F: The Municipality of Anchorage is parking construction equipment on Track F. In exchange they are doing some improvements for us at the termination next summer. The minutes from the last Board meeting are not completely accurate in what the MOA will do. What they will do is remove the old tennis court including fencing. No grass has been promised. The parking area will remain paved. Due to environmental factors it may be impossible to pave in the future and at this time is helping to keep dust down. MOA will install a heavy-gage side-sliding gate to keep intruders out of Tract F at the conclusion of construction. Board asked Ms. Green to ask TAM Construction if they will seed tennis court area after it is removed next year. Tams Project Manager will be invited to the next Board Meeting to discuss "payment" for parking their construction vehicles at Tract F during Bayshore Drive reconstruction. At the close of construction next summer, board member Cal Larson will do a walk-through of the construction site checking for signs of oil leaks or other items needing attention by construction contractor.
Routine preparation for Board meetings will include emailing the following documents to Board members one week prior to an upcoming meeting: agenda for upcoming meeting, draft of previous minutes, ACC minutes, financials, homeowner dues in the arrears, and violation list from ACC.
NEW BUSINESS
None.
ADJOURNMENT
The meeting was adjourned at 9:07 p.m.
Respectfully Submitted,
Valerie Haney
Secretary
Original draft by Susan Green, General Manager
Final edit by Valerie Haney, Board Secretary
| 
