PRW Board Minutes December 3, 2016

PRW Board Minutes December 3, 2016ATTENDING in person: Scott Davis, Ron Springer
By phone: Bob Chamberlain, Fritz Sampson, Stew Squires, Jeanne Davis, Helen Evans.
After a question about the posts at the beginning of the path being permanent, Scott said there would be 2 large rocks instead of posts and Luis could move them when/if needed.
Helen moved that the minutes be approved as submitted. Motion passed.
Helen moved that the minutes be approved as submitted. Motion passed.
RECORDS – Contact information was given for new owners of Units 678, 609 as well as email for unit 640.
FINANCIALS – Should the label on our retained earnings be changed to Capital Reserves which Makes it more clear that these are our “association reserves”… It was decided to leave this title as is. The title “prepaid dues” was placed on the Balance Sheet rather than a negative accounts receivable. $100K is considered excellent for Reserves and ours is currently at $95K.
COMMUNICATIONS- The dues notice letter sent by Scott is enclosed.
WEB SITE NOTICE- Unit 609 will be part of a charity home tour.
Our web address is was published in the 2017 dues invoice. Software for it uses WordPress.
INSURANCE REVIEW – Our deductible was discussed so after reviewing our declarations, we are in compliance. Possible $1000 deductible unavailable in future. Self insuring to $2500 to save on premiums. Expect about 10% savings. We seem to be adequately covered, except for possible flood insurance. High deductable flood insurance will be explored. It is probably not available for only the river units which are most at-risk.
Adjusting our umbrella policy is under consideration for and add-on umbrella policy at about $300 per million.
Established duties in the event of loss, damage, accident or suit policy.
History, payment and coverage for deck repairs was also in discussion. The method of recognizing the need for deck repair was discussed. Fritz will put a resolution together for the next Annual meeting.
Based on past practices it is the Association policy, for the time being, to:
Board Policy on Deck Repair: Although built to code, the original construction using Trex decks with untreated joists is a routine problem on our units. The Association will have decks inspected when notified, and if needed, schedule a repair as weather and schedule allows. Currently,the Association has assumed responsibility for one deck repair. Subsequent deck repairs, if ever needed, are at the owners expense.

BUDGET – Bills that we are expecting are as follows: landscaping – $3,000 to $4,000, gutter repair- $980, FIRST QUARTER: sewer $9360, water about $1500, Insurance $18,338.
We will spend most of 2016’s dues income.

No more than 10% budget to be added to reserves for tax purposes (90%expenditure test – can’t count contributions to reserve as an expenditure for untaxed income)

Add repairs to budget we average about 10% of dues.

RENTAL RULES – There are problems with unit owners not having the required local agent. Scott will send a registered letter notifying an owner not in compliance of a fine.
It is suggested that short term rules be applied to long term rentals especially with regard to the exclusion of pets. It was decided that current polity of not making long-term renters comply with short term rules is the way we should go.
MAINTENANCE & REPAIR – Two decks are done and 4 will be scheduled. Sidewalk – done, Tree Trimming/removal – done, Safety caps on tree supports – done, gutter repairs and trail repair delayed by weather.
NEXT MEETING – Feb. 11, 1 o’clock – Scott will host.
Meeting adjourned – 12 noon.
Respectfully submitted,
Jeanne Davis

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