FIELDCREEK ESTATES HOMEOWNERS ASSOCIATION

BOARD OF DIRECTORS MEETING

October 7, 2009

EBMC, 5011 Meadowood Mall Way, Suite 200

 

MINUTES OF MEETING (Draft)

 

Board Present:                Pablo Gomez, Mark Bacon, Gary Bria, Lester Cohen, Bill Jastrow and Nick Pappas

Board Absent:                 Barry Ojers

Also Present:                    Malinda Baldridge, EBMC Community Manager

Linda Woosypiti, Recording Secretary

Homeowners Present:     None

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I.          CALL MEETING TO ORDER

Pablo Gomez called the meeting to order at 5:01 p.m. with six Board members present

II.        MEMBERSHIP FORUM   

            No one wanted to speak at this time.

III.       MINUTES

A motion was made by Les Cohen to approve the July 8, 2009 minutes as presented.  Bill Jastrow seconded the motion.  All in favor, motion passed unanimously.

IV.       FINANCIAL REPORT

            Board to Review Financials

Nick Pappas reported that the Nevada Bank account presently has $51,000+ from $68,000+ in July.  The construction account in July had $16,457 and now it has $16,947.  Some of the money went out as refunds, but Ms. Baldridge said that this would have to be turned over to the state to determine what to do with the rest of the money.  The contingency account is at $22,866 and the reserve account in July was at $8,942.

A motion was made by Bill Jastrow to accept the financials as presented.  Gary Bria seconded the motion.  All in favor, motion passed unanimously.

Board to Approve 2010 Budget

Nick Pappas said that 2009 and 2010 income is basically the same.  $60,300 was projected.  Expenses were a little more at $44,540, up slightly from last year.  There were very few changes from last year.  Supplies went up for printing because there were a lot of mailings last year.  Some differences were noted in the water bill, last year at $4,000 and projection is at $1,500 for 2010.  Maintenance costs were also decreased for 2010.  Reserve allotment was discussed as $3,000 went from operating to reserve, which is funded.  CC&R update can be included in the reserve item section at $5,000.  The Board discussed the need for this update.  Mr. Pappas suggested leaving the CC&R’s as they are for this year as they were not funded in the 2010 budget.

A motion was made by Bill Jastrow to approve the 2010 Budget as presented.  Les Cohen seconded the motion.  All in favor, motion passed unanimously.

V.                            COMMITTEE REPORTS

Pablo Gomez reported that there were just minor items going on at this time with architectural issues.

VI.       OLD BUSINESS      

None

VII.     NEW BUSINESS

            Board to Review and Approve Management Contract.

This was tabled at this time.

VIII.    CORRESPONDENCE

Gary Bria said that the county received money for the fire station and it is going to happen.  This was discussed at the last meeting.  The station will be constructed on the north side of Fieldcreek, which will be close to the Association.

IX.       SCHEDULE NEXT BOARD MEETING

The next Board meeting will be scheduled for January, 6, 2010 at 10:00 a.m. at EBMC.

X.        ADJOURNMENT

There being no further business, there was a motion that was seconded to adjourn the meeting at 5:35 p.m.

Respectfully,

_____________________________            _____________________________

Linda Woosypiti, Recording Secretary          Board Representative