Northridge Village Neighbors

Northridge Village HOA Board Meeting - Sept 8, 2003

Dec 04, 2003

Northridge Village HOA Board Meeting
September 8, 2003


Attendees: Paul Moser, Debye Kerbey, Rich Weber, Lynn Wiletsky, Bob Brown

Excused: Jim Teilborg


I. Call to Order. Paul Moser called the meeting to order at 7:05 pm.

II. Minutes. The minutes from the May 12, 2003 meeting were approved.

III. Treasurer?’s Report. Rich Weber distributed several handouts: the June and July financials, Annual vs Actual (Projected) 2003 Budget, Reserve Analysis as of July 31, 2003, and a draft 2004 Annual Budget. Income for June was $6,971; operating expenses were $8,005 for a loss of $1,743 after Reserves; the two main extraordinary expenses were for the concrete repair work by the mailbox and purchase of new pool furniture. Income for July was $8,003; operating expenses were $5,835; net income was $1,460 after Reserves; no extraordinary expenses were noted.

The Reserves as of July 31 were discussed. Repair of the stucco walls was divided into two years ?– completion of one-half of the repairs by 2004 and the remainder scheduled for completion in 2007. Eventual replacement of street lights will need to be added to the Reserves. The Reserve Analysis, with footnotes, will be added to the website and made available at the annual meeting in October.

The worksheet that projects annual vs actual budgets was discussed next. While some items are over-budgeted, others are currently under budget, e.g., Repairs & Maintenance is approximately $1,750 over budget and Utilities is $700 under budget; other expenses may be balance out to $0 variance by the end of the year. Total over budget comes to approximately $1,000 which, if Reserve funds are transferred over, could result in breaking even this year.

Next item for discussion was a draft of the 2004 annual budget. Increases are expected for certain items, such as cable, insurance and repair/maintenance of the sprinkler system. Although the insurance increase will not be known until the first of the year; Bob Brown will check on the expiration date of the Association?’s policy. For projection purposes, the budget was revised to reflect an overall increase of 10% until further information is available. It was moved and seconded to accept the revised 2004 budget; motion passed unanimously.

IV. Annual Meeting. The Annual Meeting is scheduled for 6:30 pm, October 29, by the pool. Bob will notify homeowners and send the following materials: nomination form for Board membership; proposed 2004 annual budget; minutes from the October 27, 2002 annual meeting; President?’s Report; and Treasurer?’s Report. It was noted that page 4 of the By-laws includes a description of Board positions.

IV. Old Business.

a. Update on insurance settlement for Unit #16. The insurance companies have not yet reached an accord regarding settlement of the claim. Homeowners should be advised to assess their personal insurance coverage to see if it is adequate vs what the HOA policy will cover. If necessary, the Board will enlist assistance from Mulcahy Law Firm to deal with the insurance companies. Bob will continue to talk to the Board?’s agent and advise the Board on progress.
b. CC&R?’s deductible. Current HOA deductible is $500. Bob acts as the Board?’s agent re insurance. If the deductible is raised, it could decrease the costs of the premium or, with the anticipated increase in cost, could keep it similar to the current cost. Homeowners could get ?“deductible insurance?” coverage through their personal insurance. Any decision was tabled for now.
c. Sprinkler repairs/stucco walls. Acacia has estimated up to10 sites for installation of isolation valves to separate the irrigation system from domestic water. Cost is $150/home. The work could be performed this year with funding from the Reserves. It was moved and seconded to perform the work this year; motion passed unanimously. Bob will get itemized bids for the repair and painting of the stucco walls.
d. Tree trimming. Estimated cost for trimming the palm trees is $30/tree. The sumacs and bottlebrush also need to be trimmed. Rich volunteered to supervise the work.
e. Driveways. Bob stated that the definition of a driveway is described in the Plat re whether it is a common area or not. Further discussion was tabled.
f. Garage doors. Paul will contact the homeowner who needed clarification on the replacement process.

V. New Business.

a. Landscaping. Bob will work with Acacia to replace the shrubs that were damaged by the sun.
b. Graffiti/Gate. Bob will have the graffiti along Orangewood removed and the gate repaired so it will shut properly.
c. Basketball hoop. Discussion was tabled.
d. Malibu lights. Lights will be replaced as needed.



Meeting adjourned at 8:45 pm. The next Board meeting will follow the Annual Meeting which is scheduled for 6:30 pm, October 29, at the pool area.