Minutes of January 16, 2012 Meeting of the Bellafont Gardens

Property Owners’ Association, Inc. Corporate Officers and Board of Directors

A meeting of the Bellafont Gardens Property Owners’ Association Inc., an Arkansas Corporation (the “Corporation”) and the Bellafont Gardens Property Owners, was held at the Bellafont Gardens Clubhouse at 4150 N. Meadow View Drive in Fayetteville Arkansas January 16, 2012, at 6:00 p.m.

Present at the meeting were the following Board Members and Officers:

Brittany Little

Mike Cashion

Sally Langsner

Rodney Stine

Tanner Ray

Julie Sanders

Melanee Adams

Approval of Minutes

Board Members determined that a quorum of the Board is five members present and voting. Request was made to change the minutes of the December 12, 2011 meeting minutes to official minutes since by this evening’s decision, a quorum was present. However, no motions were made or votes taken on the discussion items.

ACH Enrollment

Brittany reported 45% of homeowners are in enrolled. The $3 per month charge for non-ACH payments begins in January, and additional enrollments are expected.

Maintenance Report

Julie reported Nathan is keeping a daily log of maintenance activities.

Pre-emergence: Invoice for $1,708 received. Fertilizer is still to be done. Nathan is getting bids and will be keeping a record of costs. Equipment costs estimated at $300 to $300. Cost last year was $5,600.

Termite Update: The clubhouse building will be under a termite policy.

Vacation/Sick Time: Motion by Tanner, second by Sally to allow maintenance employees 3 days sick leave each year. Motion carried by unanimous vote.

Motion by Sally, second by Julie to allow maintenance employees 2 weeks’ vacation with the time off taken not more than 1 week at a time, not at the same time as anothermaintenance employee, subject to approval by the Board, and with no carryover of unused vacation from one year to the next. Motion carried by unanimous vote.

PO Box/Checking Account

Signature cards were presented and completed. PO Box and checking account arrangements are complete.

Bookkeeping

Brittany has turned over accounting records to Mildred’s Tax Service. Records are still being researched and reconciled before a report is presented to the Board. It has been determined that the 2010 taxes will need to be redone because of depreciation on equipment.

Mike is to manage payment of invoices and delivery of records to Mildred’s.

Legal Update

Cox Status: Owner has filed bankruptcy. We filed a claim, but it was unsecured when foreclosed.

Status of Letters/Liens: 23 properties have been identified for action by the attorney. Julie suggested that the Board pursue outstanding accounts through Small Claims Court. Brittany will discuss with the attorney and Julie will research further for the next meeting.

Telephone Update

A landline for the pool area is required. Brittany is working on having the account transferred from Stan Jackson to the Board and having the cost lowered.

Insurance Policy Review

Brittany reported the review indicates the coverage is actually pretty good. She is still looking into the 2% automatic increase because the rate was to be locked in for three years. Cost for earthquake endorsement is compiled for our consideration.

Kirk Elsass

Brittany reported that she met with Kirk Elsass regarding his request for reimbursement for roof flashing repairs. This has been a long-standing issue of maintenance versus workmanship. Nathan inspected the problem and Kirk proceeded with the repairs saying that he could not wait for the determination on responsibility for repairs. Brittany suggested the Board compromise and agree to pay one half of the costs incurred and present a letter of agreement putting Kirk on notice that no further compromises of this nature will be consider. Motion by Julie to proceed, seconded by Mike. Motion carried with 5 Board members in favor (Little, Adams, Sanders, Cashion, Langsner), 1 opposed (Ray), 1 abstaining (Stine).

Budget

Following a lengthy discussion of instituting a charge for the use of the clubhouse, motion by Julie and second by Melanee to charge $25 per use with a maximum of $40 per month ($10 per week for weekly meeting uses). Motion carried with 6 Board members in favor (Little, Adams, Sanders, Cashion, Langsner, and Stine) and 1 abstaining (Ray). The website will be updated to include notice of the charges for use of the clubhouse.

Preliminary budget for 2012 was reviewed. Brittany is to provide additional detail on landscaping and maintenance costs. Julie will review with Nathan previous expenditures in order to update estimated landscaping and maintenance costs. New estimates will be presented to the Board.

New Business

Mike will be submitting a site plan and specifications for expansion and improvement of his patio area. Information will be emailed to the Board.

Meeting adjourned at 8:00 p.m.

Next meeting is February 13, 2012.

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Brittany Little, President Rodney Stein, Vice President

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Sally Langsner, Secretary Mike Cashion, Treasurer

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Julie Sanders Melanee Adams

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Tanner Ray