VILLAGES OF ELDORADOII HOMEOWNERS ASSOCIATION
MONTHLY BOARD OF DIRECTORS MEETING MINUTES
January 21, 2010 - 6:00 p.m.
Baker Insurance Conference Room – McKinney, TX
Call to Order: Tom Udall called the meeting to order at 6:17 p.m. Don Thoes and Mike Baumgardner were in attendance as well as Diane Parker, representing CCMC.
2010 Board of Director Positions:
Don Thoes nominated Tom Udall for position of Board President, motion was seconded by Mike Baumgardner. Tom accepted nomination. Mike Baumgardner nominated Don Thoes for position of Treasurer, Tom Udall seconded the motion.Don accepted the nomination. Mike Baumgardner nominated Bill Culhane for position of Vice President, Don Thoes seconded the motion, motion passed. Tom Udall nominated Mike Baumgardner for position of Secretary, Don Thoes seconded the motion, and Mike accepted thenomination.
Minutes: DonThoes made a motion to approve Minutes of October 15, 2009Board meetingaswritten, MikeBaumgardner seconded the motion. Motion passed.
Financial Report was presented by Treasurer, Don Thoes.
A. Operating Account Balance$ 216,502.45
CD - Sunwest$ 50,192.38
MMA CAB – Mutual OPS $ 14,484.10
Reserve Cash MMA$ 156,716.10
Reserve Account Wachovia$ 32,765.00
Reserve RBC CD’S $ 99,690.44
Diane reported that the first contribution to the reserve fund of $46,070.00 would be made in
January. Treasury Analyst, Cathy Cook, will be working to open staggered CDs for balance
of the operating account funds.
- Board reviewed current Violation and Work Order Reports, there were no unusual activities.
Old Business:
Playgrounds:
- Proposals to power wash and paint wood portions of community playgrounds were presented and reviewed by the Board. Tom motioned to accept proposal submitted by CCMC, Mike seconded the motion. Motion passed.
2. Proposals for installation of pea gravel in all parks, to bring them up to state code were
reviewed by the Board. Board requested that Diane will ask for re-measurement of gravel.
- Diane reported that repairs to trees wells along Kensington are complete
- Board approved installation of a quick coupler at each community park to allow for
a water supply. Motion for approval was made by Don Thoes and seconded byTom Udall.
Committees:
Modifications: Board reviewed the twelve Modification requests from October thru December.
All wereapproved. Mike will contact homeowner regarding fence installation issue.
Landscape:No report at this time.
Website: October Minutes and monthly financials sent for placement on website
Social: Holiday decorations have been picked up and stored. Board discussed positive feed backfrom homeowners indicating how much they appreciated the decorations and how nice they looked.
New Business:
Insurance Renewal proposal was reviewed and discussed by Board. Board requested that Diane obtain a quote on what the cost would be to increase coverage of liability and umbrella policies.
Executive Session: Board held brief discussion and review of Delinquency Report.
Adjournment: There being no further business to come before the Board, Mike made a motion to adjourn the meeting, Tom seconded the motion and the meeting was adjourned at 7:43 p.m. The next Board of Directors meeting isscheduled for February 18, 2010 at 6:00 p.m. in the Baker Insurance Conference Room.