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FIELDCREEK ESTATES BOARD OF DIRECTORS MEETING Wednesday, November 16, 2005 Wolf Run Golf Club, Restaurant/Lounge 1400 Wolf Run Road, Reno, Nevada MINUTES OF MEETING
Present: Pablo Gomez, George Toto, Barry Ojers, William Jastrow Absent: None. Also Present: B.J. Brown (EBMC), Marilyn Gross (to take Minutes)
I. CALL MEETING TO ORDER/ROLL CALL A. Roll Call – President Barry Ojers called the meeting to order at 10:00 a.m., with a quorum of three members present. Board member Jastrow arrived at 10:11 a.m. to form a quorum of four members present. B. Assign Officers of Board – George Toto moved to elect Pablo Gomez as Treasurer. Barry Ojers seconded the Motion. Motion carried unanimously. II. MEMBERSHIP FORUM A. Steve Cohen, resident, announced that Reno City Council is having a meeting tonight at 6:00 p.m. at the Reno City Hall about the Redfield Plan. The Redfield Plan would move unrestricted gaming centers in the Southwest, and allow for a TOD designation which would allow higher density, and could result in lower income housing and increased traffic and crime. He also announced that Bill Pierce Auto is requesting a three-story building for his company. III. VENDOR REPORTS A. Landscaper to address issues with Board – Gary Bria was in attendance to present a report. Mr. Bria reported that he had shut off the sprinkler systems for the winter. He stated that the valves on Silver Wolf lawn need to be changed out and he would like to do it this winter. He requested $200.00 to $300.00 for the repairs. B.J. Brown gave permission to complete this repair. He reminded the Board that October was the month in which landscape contract bids were due, and that a gas surcharge of $25.00 needed to be added. Barry Ojers directed Mr. Bria to submit a proposal for the $25.00 increase for 2006 to be reviewed at the next meeting. At this point in the meeting, Board member Jastrow arrived. III. MINUTES Review and approve August 10, 2005 Minutes – Pablo Gomez moved to approve the Minutes. William Jastrow seconded the Motion. Motion carried unanimously. IV. FINANCIAL REPORT A. Review and approve June, July, August, and September 2005 Financials – Board member Ojers reported that there were no exceptions to the June, July, August, and September Financials. He recommended approval of these reports. William Jastrow moved to approve the June, July, August and September Financial Reports. George Toto seconded the Motion. Motion carried unanimously. Ms. Brown called the members’ attention to the large sums in the operating cash/contingency funds accounts. She recommended talking to a broker and moving some of the funds to CD, or Money Market Account that is FDIC Insured. This will be placed on the February meeting agenda for action. B. Board to approve 1120H form for filing taxes–Ms. Brown informed the Board of the N.R.S. changes as of June 1, 2005 which requires, every four years, an audit of homeowners associations on the reserve accounts. If reserve accounts are under $75,000 the accounts require a compilation; if they are between $75,000 and $150,000 they are required to be reviewed every year and audited every four years. If there is anything over $150,000, the association is required to audit every single year. Currently there is an amount of $21,000; therefore a compilation is needed and an audit should be budgeted for 2009. George Toto moved to use the same 1120H form for the year 2005. William Jastrow seconded the Motion. Motion carried unanimously. C. Board to Approve CPA for filing 2005 taxes. Review new N.R.S. requirements – Ms. Brown recommended using the same CPA as in the past which is Beth Cohen to avoid the cost of transferring records. Pablo Gomez moved to use the same CPA as in past to file 2005 taxes. George Toto seconded the Motion. Motion carried unanimously. V. COMMITTEE REPORTS A. Property Manager’s Report – B.J. Brown reported that it has been quiet, with only a few architectural requests. B. Architectural Committee Report – William Jastrow reported that there have been a number of approvals and some which have been delayed due to requests for additional information. There have been no disapprovals. There were two new properties and new lots being built.. George Toto questioned how much power do HOAs have to prevent people from putting solar panels up on their roofs. It was stated that the HOAs cannot disapprove solar but they can approve how it is built. VI. OLD BUSINESS There was no old business agendized. Ms. Brown requested that Agenda Item V, Financial Report, be re-opened as an emergency action to approve the 2006 Proposed Budget. The deadline is before the next meeting. There was no objection. VII. FINANCIAL REPORT (Re-opened) A. Emergency Budget Review Action - Steve Cohen stated there was confusion relating to last year’s violation fines which were $200.00 to $1,000.00. With the changes in the law, these fines leave the HOA open to lawsuit and the amount of the fines needs to be changed. Board member Gomez stated that the message to community is the HOA is not here to make money. A smaller fine was suggested by Ms. Brown. It was suggested changing the violation fine amount to $100.00. Ms. Brown informed the meeting that she had been receiving calls from the Fairways members interested in pursuing an amendment to have the $150.00 a year cost to them deleted. Discussion ensued about the effects of this action. It was determined that the cost to the HOA would be $10,000.00 a year in dues. This action would have to go out for a vote by the membership. A discussion followed. No action will be taken until a written request is received. William Jastrow moved to approve the 2006 budget as an emergency action due to N.R.S. required timelines and the change of the violation fines to $100.00. Pablo Gomez seconded the Motion. Motion carried unanimously. VIII. NEW BUSINESS There was no new business. IX. DISCUSSION ITEMS No additional items were discussed. X. CORRESPONDENCE None. XI. SCHEDULE NEXT BOARD MEETING The next Board meeting is scheduled for February 8, 2006 at 10:00 a.m. at Wolf Run Golf Club. XII. ADJOURNMENT There being no further business, the meeting adjourned at approximately 11:00a.m.
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