March 2019 Minutes

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 21^st @ 6:30

b.      Annual meeting:  April 10^th @ 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.