Arbor Pointe Condominium Association

April Lake Arbor Village Master Assoc. Board Meeting Minutes

Board of Directors Meeting Minutes

LAKE ARBOR VILLAGE MASTER ASSOCIATION, INC.

BOARD OF DIRECTORS MEETING MINUTES

APRIL 12, 2002


CALL TO ORDER

The meeting was called to order at 6:00 p.m. In attendance for the Board of Directors were Dwight Nelson, Fred Kerchner and Roger Sorenson. In attendance for Management Specialists, Inc. was Lisa Abbott.

OPEN FORUM

There were no homeowners present for Open Forum.

APPROVAL OF PREVIOUS MINUTES

The minutes from the March meeting were approved as written.

MANAGER’S REPORT

Financials – Lisa presented the March 2002 financial statements to the Board. She noted that the Association’s beginning cash balance as of March 1st, 2002 was $352.58. The Board collected $4,357.49 in assessments, which included $1.49 in interest. The Association’s expenditures equaled $4,618.29, which left the Association with ending cash balance of $91.78. There were no reserve expenditures for the month of March. The current amount that is in the reserve account is $26,587.43.

Grounds – Lisa informed the Board that the grounds were currently in good condition and Urban Farmer did not come across any severe sprinkler repairs that would need to be done.

OLD BUSINESS

Pool Furniture – Lisa informed the Board that the pool furniture had been ordered and per discussion with Dwight, it would be delivered to his home for him to store in his garage until time to place at the pool.

Painting of Pool Fence – The Board will be painting the pool fence prior to pool opening on May 18th, 2002.

Resurfacing of the Pool Area – Lisa presented the Board with three (3) bids for the concrete at the pool area from Palace Construction, Colorado Hardscapes and Lookout Maintenance. After discussion, the Board determined that they would like to use Lookout Maintenance to replace the three (3) sections of concrete on the pool area. They requested that Lisa contact Lookout and find out what the additional cost would be to replace all of the pool anchors into the new concrete.

Landscape Improvements – At this time, the Board determined that there will be no landscape improvements done for the fiscal year of 2002-2003.

Fiscal Year 2003 Budget – After discussion, the Board approved the budget unanimously. The budget does reflect a $2.00 increase in assessments.

Key Pad Entry System – After discussion, the Board determined this was not a feasible option at this time due to the cost of a keypad entry system, the maintenance and the monitoring of it. The Board will not pursue this item for any further discussion.

Security Camera – After discussion regarding the cost of a security camera, the monitoring equipment and the privacy rights in the bathroom area, the Board determined this would not be something they would recommend to have installed at any time.

Pool Rules and Pool Signs – Lisa presented the Board with a sample of 2002 pool rules. There were several corrections in the pool rules. She will order signs for the pool to be placed on the fence prior to the pool opening in May.

Tennis Court Nets – The Board directed Lisa to obtain bids to replace the tennis court nets on the right hand side of the tennis court that had been severely damaged and is in disrepair at this time.

NEW BUSINESS

There was no New Business to discuss.

APPROVAL OF INVOICES/SIGNING OF CHECKS

All invoices were approved and checks were signed.

NEWSLETTER ITEMS

v Enclose the pool rules
v Assessment increase

NEXT MEETING DATE

The next meeting will be held on May 8th, 2002.

ADJOURNMENT

With no further business to discuss, the meeting was adjourned at 7:00 p.m.

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