Riverwood Homeowners Association, Board of Directors Meeting – July 8, 2021
The meeting was called to order by President Larry Dashiell at 6 pm.
Board Member Attendance: President Larry Dashiell, Jann Gilbert, Amy Fylan, Nancy Stoll.
Others Attending: Ashleigh Norment, Cindy Zinn, Leo Zinn, Elise Morgan, Carol Hardy, Tama October, Irene Hennessey, Tori Lungren, Kris Clarke, Jim Eveland, Shirley Piel, Lisa Dashiell, Angelia Warren, Barbara Ascher, Patrick Steininger, Delores Gradin
Minutes of Previous Meeting: Moved by Nancy and seconded by Amy, that the minutes of the June 2021 meeting be accepted as presented. Carried.
Treasurer’s Report: Ashleigh distributed Balance Sheet and Income Statement for June. Our profit to date figure after completing 10 months of the current fiscal year is $7710.78. This profit has been moved to Reserves to bring the Reserves to just over $80,000. Several questions were raised about certain terms on the financial report. Here are some definitions of figures you see on the report.
Profit to Date on Page 2 of the Finance report is the value of Total Sales (income) from the Income Statement, pg 3, 2nd column for YTD Actual, minus Total Budget Expense from the Income Statement, pg 3, 2nd column for YTD actual.
Beginning Equity on pg 2 of the Finance report is the value of accumulated stockholders’ equity from all previous fiscal years as of 9/1/2020—the beginning of the current fiscal year that we are in.
Total Stockholders Equity – The Balance Sheet Assets and Liabilities Totals have to match. So from the June Finance Report, on page 1, Assets, you can see total Assets of $689,283.23, which includes balances in our operating account, our Reserves account and the value of Replaced Roofs plus a couple of other items. On page 2, our main liability is the payoff amount as of 9/1/2020 of the roofing loan. Stockholders’ equity is the remaining amount of assets available to shareholders after all liabilities have been paid. So on page 2 you see total liabilities are $461,969.06, and if you subtract that from Assets you have the amount shown in Stockholders Equity, $227,314.17.
Moved by Nancy and seconded by Jann, that the Treasurer’s report be accepted as presented.
Welcome and Neighborhood News: (Chair – Lisa Dashiell) A welcome letter and documents were sent to two new residents. Move-out letters and checklists were sent to two departing residents. A project in the works now is a copy of Bylaws and CC&Rs searchable by topic that will be available online in future.
Architecture: (Chair – Patrick Steininger) In June a request was made by a resident of D30 to have new windows installed. This was approved but the windows were not available. A different color and style were chosen and that was also approved.
Budget: (Chair – Leo Zinn) See below.
Landscaping: (Co-chairs – Kris Clarke, Stressla Beavers) We have selected Crystal Greene Landscaping for next year’s contract. They have both good communication skills and a great reputation. One of our hot spots, irrigation, will be covered. Our former tech, Ryan, is the head of irrigation and has promised to personally take care of us. We have given Landscape East/West a 60-day notice to avoid paying a cancellation fee. Crystal Greene will start September 1. Their substantially lower bid saves us $1,757 a month, a total saving of $21,084. We have had rotating irrigation problems in a number of areas which were reported to have been repaired but still have problems. We hope to have these corrected soon. Tree work is in progress, with identification of trees that need attention. Phase One starts next week, Monday-Wednesday. We hope to start Phase Two in September. We will not be replacing any green plants during extremely hot weather because it’s too stressful for them to get a good start. If you notice a severely burned plant, please take a photo and send it to your driveway rep. We will determine if it will survive or needs to be replaced.
Maintenance: (Chair – Jim Eveland) The major project is re-siding of 4302 and 4304 in D20. Materials have gone up in price so we might have to borrow from next year’s budget to accomplish this year’s work. Planned repaving has been moved to next year. Meanwhile we go on fixing smaller things. The new budget begins September 1.
Newsletter: (Chair – Tama October) Thanks to all who submitted items early last month. Please send news to Tama by the 20th of the month. Address is rwh.news@gmail.com If items are sent to Tama’s personal email they could get lost and not make it into the newsletter. Also, it’s helpful if a note is sent indicating that you want your item in the newsletter or on an email blast, or both.
Parking: Nothing to report at this time but there have been some incidents, not specified today.
Keys and Rental Garages: (Chair – Annette Adams) Absent, but reports zero garage vacancies, one on waiting list, and one wanting to change garages. Moves have been made since the last report. Maintenance was done on some units, and renters were asked to check big-door springs after one unit’s springs were found in need of maintenance. It was decided for now not to set up a budget for Rental Garage/Keys. Jim planned to work up a cost analysis for replacing chicken wire between units with sheathing, to combat burglaries, and to replace hollow-core man-doors. Keys: 3 rec room keys and one pool key card were issued.
Pool: Jim thanked Barbara Ascher and Cindy Zinn and others for helping with the pool. The maintenance path has been improved so that it’s possible for an electric wheelchair to navigate it. Jim would like to improve it further with gravel. There are maintenance projects the pool needs if budget will allow. Jim is still trying to solve the problems with key codes for entry. The upper entrance requires batteries but wiring could be done at some time for that.
Recreation: (Chair – Shirley Piel) A pizza party is planned for 4 pm July 31, at which the Recreation Committee will serve pizza and attendees will BYOB. There are still safety rules: One or two servers wearing masks rather than buffet style service. Eating area likely could be outdoors. Details of this will be in the newsletter. The luncheon group will meet twice this month, 7/14 and 7/28. Let Nancy know if you want to come so that reservations can be made.
Insurance: (Chair – Angelia Warren) Thanks to Angelia for taking on this committee. Nothing is new this month but Larry, Angelia and Jann met with a State Farm agent to discuss our current policy coverage. Carol Hardy will facilitate a meeting with Stan Clarke to gather more information. Policy renewal date is March 2022 and there have been claims so a review may take place.
Moved by Jann and seconded by Nancy, that the Committee Reports be accepted.
Agenda:
- Driveway parking: Some want to change the rules to permit driveway parking especially where there is room and the City doesn’t forbid parking. It was proposed that we maintain the policy that prohibits overnight driveway parking in front of garages. The proposal passed unanimously.
- Fence request: One resident, a renter, wants to have a new fence built because passers-by can see over it and look into her windows. (The new fences are taller.) This fence is not ready to be replaced this year. In discussion, it was pointed out that giving preferential treatment to one resident would set a precedent and others would want similar treatment. It was decided today that Jim would find out the cost of a new fence and Riverwood would offer the resident and her landlord the option of splitting the cost of this fence now, or waiting till about 2023 and having it replaced then as planned. Jann volunteered to write the letter.
Note: Item #2 has been corrected and was not so included on the final minutes due to secretarial error. It should read as follows:
- Fence request: One resident, a renter, wants to have a new fence built because passers-by can see over it and look into her windows. (The new fences are taller.) This fence is not ready to be replaced this year. In discussion, it was pointed out that giving preferential treatment to one resident would set a precedent and others would want similar treatment. It was decided today that Jim would find out the cost of a new fence and Riverwood would offer the resident and her landlord the option of paying for the entire cost of this fence this year, or waiting until about 2023 and having it replaced then as planned. Jann volunteered to write the letter.
- 2022 Budget: Leo outlined the new budget. Materials have gone up in price. City water and garbage rates have risen. There are ways to increase income, some more palatable than others. Garage rental fees could be raised. Assessments could be made for special projects. Assessing $4,000 per unit for the roofing which was achieved with a loan currently being paid off (nine years left) would retire that loan and thus increase income.
HOA monthly assessments could be raised, and Leo gave figures to show what various amounts would accomplish. A figure of $440 monthly would let reserves be only $10,000 short. Not doing some of the planned projects this year would increase income.
Eventually the following actions were taken:
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- Moved by Nancy and seconded by Amy, that the monthly garage rental cost be raised to $100/month.
- Moved by Jann and seconded by Nancy, that the monthly assessment be raised to $440/month. This will begin with September, and letters must be sent out a month in advance to notify homeowners.
- Moved by Nancy and seconded by Amy, that building solid interior walls between garage units be postponed.
- Moved by Jann and seconded by Nancy, that further improvement of the maintenance path to the pool be deferred till next year.
4. Find out if insurance is “studs out” or total coverage. State Farm does not offer the former to condominiums. Jann asked for volunteers for an ad hoc (for this specific purpose) committee to research “studs-out” insurance policy availability and make recommendations to the Board. Expect some changes when insurance is reviewed before next March.
5. Tree trim on east side of property. Contact neighbors on that side to discuss and agree on action.
6. Larry spoke about the Clean Energy plan and said that grants could be applied for, enabling Riverwood to accomplish some of the plans being postponed. Moved by Jann and seconded by Amy, that a committee be formed to work on this. It could be announced in the newsletter to see what interest there is.
(Items 7 and 8 are tabled.)
- One position is open for a Board member this year. The election runs during September and a ballot needs to be made soon. Any number of candidates may run for a position.
At 8 pm, it was moved by Nancy and seconded by Jann that the meeting be adjourned.
Respectfully submitted,, Delores Gradin, Secretary
