MINUTES
KCPOA Board of Directors Meeting
ATTENDEES: Henry Oertel, Jim Porterfield, David Philips, Martha Oxford, Harlan Cooper
ABSENT: Brad Akins, Bill Hagan
1. Meeting was called to order by Henry Oertel. Martha Oxford certified that a quorum was present.
2.
Minutes from September, 2008 meeting were presented. One
change noted – Price for A/C unit from Mr. Jennings was incorrect; it should be
$3,656.
Motion
made by Jim Porterfield and seconded by Harlan Cooper to accept the minutes with
the noted change. Approved
unanimously.
3. Treasurer’s Report was presented by David Philips. For the month of September, net income was $9,788. Expenses were $15,354 for a net income of ($5,566).
Profit
& Loss Statement
YTD net income is $226.473 less expenses of $175,835 for a balance of $50,638.
Estimate for the balance of the Fiscal Year are additional income of $45,000 with additional expenses of $60,691 leaving a deficit of $15,691. FY should end with a net income balance of $34,947.
Priorities are (1) Collect membership dues; (2) update depreciation; (3) review financial controls & insurance; (4) Improve clarity of P&L and Balance Sheet reporting; (5) Develop 2009 Budget (3-year plan).
Motion
made by Martha Oxford and seconded by Jim Porterfield to accept the treasurer’s
report as presented. Approved
unanimously.
4. Committee and Staff Reports
a.
Communications......................................................................................... Martha
Oxford
1) Directory/E-mail Addresses – Directory is available for members. Please contact Betty Cathey for a copy to be emailed or mailed to you. Also, generating an email listing of all members to be used for notification of meetings, emergencies, etc. Have used once and of the 265 emails listed, 30 were returned as undeliverable. Will put notice in January newsletter to update email addresses.
2) Quarterly Newsletter – First issue was mailed out with statements on October 14. Have received a lot of positive comments. Need to sell 7-8additional ads in order to break even with postage for the year. Next issue will be mailed around January 10.
b. Maintenance/Security.................................................................................. Jim Porterfield
1) Weedeater motor has burned up. Dwayne will be pricing on new unit and send to Jim Porterfield for approval to purchase.
2) Several dog issues have been reported. Letters have been sent out to the owners of the animals.
c. Roads/Dams...................................................................................................... No Report
d. Architectural Control/Variance..................................................................... Dwayne Fikes
12
Active Permits – 4 for new homes, 3 additions, 1 retaining wall, 1
miscellaneous and 3 boat houses.
e. Land Management.............................................................................................. No Report
f.
Boat Stalls/Parks/Public Areas...................................................................... Henry
Oertel
Continuing to get quotes on new boat slips. Talking with a plumber about adding restrooms at Jimmy Stewart Park. Mike Hellman is working on a quote for an affordable playground system.
g. Operations Manager.................................................................................... Dwayne Fikes
Permit applied for to do dredging at a lot on King Andrew. JC3 Construction doing work. Want to dredge 80-100 loads. $200 permit fee plus $15 per truck load removed from King’s Country. Recommend charging them for 100 truck loads and will refund them if fewer loads are removed. Will talk with Brad to see if he is in agreement.
Tony Macias will begin work mowing the back side of all dams on Monday.
Have interior lot signs. They are $20 per sign. If a realtor or owner wishes to put signage on an interior lot, they may purchase the signs for $20/each.
Renewed website domain name – www.kingscountry.org.
h. Office Manager............................................................................................... Betty Cathey
3rd Quarter Statements were mailed out on time with the newsletter. Have received many positive comments about receiving quarterly statements and also the newsletter. Have sent out several directories when requested.
Betty
will be out of the office on Monday-Tuesday, November 3-4. She will be in
OLD BUSINESS
5. Wild Hogs – Dwayne quietly removed 4 hogs (1 sow and 3 pigs) this past month. Let him know if you see them so he will know where to set his traps.
6. Dues collection – We will begin to be more aggressive about collecting dues. We will be implementing new policies and procedures for this task.
7. A/C Repair – Total unit costs are as follows:
AirMart - $4,895
Bob’s A/C - $4,950
Motion made by Jim Porterfield to purchase the Goodman unit from Mr. Jennings. Second by Harlan Cooper. Approved unamiously.
Dan Fullerton will talk with Yard Sale Committee to see if they want to purchase second unit at the same time.
8. Dog Issues – Letters sent out with fines.
9. Mullins property – Dwayne is contacting Mr. Mullins about cleaning up pool and lots.
10. Yard Sale Funds – In December, 2007, the previous board voted to turn the yard sale account over to the committee. However, a signed copy of the minutes was never given to the committee to proceed. We need to re-approve this and get a copy of the minutes to Dan Fullerton so they can open their own checking account.
Motion made by Jim Porterfield and seconded by Harlan Cooper to turn yard sale monies over to the Yard Sale Committee so they will be allowed to open their own checking account. Approved unanimously.
11.
Insurance policy premiums are due on
1, Property/General Liability/Auto
A Includes the clubhouse @ $600,000 replacement coverage, and clubhouse fixtures @ $25,000. Believe we should increase fixtures to $75,000 and add Gatehouse and Shop coverage. Premium currently $4500 annually.
B. Additional Liability Coverage – Premium $4127 annually
C. Inland Marine Coverage – $56,000 which covers our equipment. Dwayne needs to update the list of equipment. Premium is $714/year
2. $1 Million Umbrella Policy - $450/year – Recommend to raise to $2 Million
3. Directors/Board Coverage - $2 Million coverage - $3178/year
Total Insurance annual costs - $14,000
Boat stalls will be added when they are built.
Special thanks to Jim Fraley for analyzing our insurance needs.
Motion made by David Philips and seconded by Martha Oxford to approve changes to insurance policies and renew them. Approved unanimously.
12. Gate System – Called 5 companies for replacement quotes. Precision Fence will come out to look at it and give us a price. Unit, sensor and probes will cost approximately $6,000. Question asked will going with new unit require new clickers for residents? Jim will research.
13, Power Outages – After hours, residents may contact Henry, Vince Smith or Jim in case there is a gate issue and they won’t open. We will post a sign at the gate with information on who to call if the gat is not working.
14, King’s
Country POA is now a member of the Franklin County Chamber of Commerce. Since
15. School Bond election coming up. Henry will arrange a meeting with one of the school board members to present the bond posposals. Email notice of the meeting will be sent out.
PUBLIC FORUM
1. Tom Austin asked about SWEPCO status – Dwayne stated that their cleanup was complete and that the final mowing/weed eating should take care of any remaining issues.
Also asked about the dam issue –
The dam on
ADJOURNMENT
Martha Oxford motion/Jim Porterfieldsecond that the meeting be adjourned. All approved.
Respectfully submitted,
Martha Oxford
Secretary, King’s Country Board of Directors
Henry Oertel
President, King’s Country Board of Directors