Copper Valley HOA Minutes
March 19, 2019 @ Jeff’s
In attendance: Jeff,
Carolee, Michelle, Tegan, Bernice (community member). Absent:
Lori.
1.
Calendar Items
a.
Next board meeting: May 21st @ 6:30
b.
Annual meeting: April 10th @ 7 pm, meet at Magna
Library at 6:45 pm to set up.
2.
Budget
a.
Financial report: Operating account slightly low ($450), but 2018-2019
snow removal was recently paid and projects from the last few years (gate
repairs, drain clean out, new trees spring 2018, electrical repairs under the
road) paid from operating account, not reserve account. This is good that reserves weren’t needed,
but daily operating account is low.
Carolee suggested opening an additional savings account (separate from
reserve account) and putting some of the monthly budgeted dues into the
account. The reserve account is only to
be used for items included on the reserve study, and if a larger amount of
money was needed for a project or an unexpected repair, community would have to
vote to use the reserve money if it wasn’t a reserve study expense. This additional account would make the money
more accessible if it was needed and not interfere with our budgeted monthly
bills and payments. Current reserve account
contribution is $40/home/month. Board
votes to change reserve contribution to $25/home/month and add $15/home/month
to an accessible savings account, separate from operating account. Carolee to set up account. Board to revisit savings allocations in 9-12
months to see where the balances are and how much longer a monthly savings
allocation is needed.
3.
Discussion Items
a.
Paint area in parking lot under basketball hoop
as No Parking: Last year’s board had
planned to paint an area as no parking in the summer, but project never
happened. Community member brought this
to the board’s attention this spring. Painting
company would be about $250 for the job.
Board would like to get the roads seal coated this spring/summer, and
then the parking lot will need to be painted.
After seal coat is applied, area under the hoop will be painted as a basketball
key. For now, the yellow parking lines
under the hoop (three parking spots) will be painted black, and a No Parking
sign will be posted under the hoop.
b.
Annual meeting plans
1.
Jeff, Michelle & Tegan’s positions open for
election: Jeff and Michelle to run
again.
2.
Names for ballot: Bernice Allen, Stuart Lawernce, Jeff Barbee
and Michelle Taylor.
3.
Agenda ideas:
2019 monthly dues increase explanation, 2019 budget, address snow removal
concerns & complaints?
Agenda will be a review of last year’s financial report, this year’s
budget, and board elections. Board will
be willing to discuss snow removal or any other concerns if brought up by
community members as needed.
c.
Review
bids for completing neighborhood perimeter fence behind Marshall’s: due to low operating budget concerns and
estimated cost of $3-10,000 to install retaining wall and fence, project will
be tabled for now.
d.
Seal coat and crack seal: board would like to schedule this year. Carolee to call for a bid from 1-800-asphalt.
