The Ridings at Brookside
General Meeting
January 7, 2012
The meeting was called to order by President Pam Watt at 10:07 AM by President Pam Watts. Vice President/Secretary Norma Gruber and Treasurer Chris Wameling were also present. Ten (10) unit owners also attended.
Norma Gruber read the minutes from the December 5, 2011 Annual Meeting. A motion was made to approve the minutes, the motion was seconded, and the minutes were approved as written.
Treasurer Chris Wameling explained that the 82 votes that he received at the 12/5/11 Election were enough to win him a seat on the board. It was determined that he did indeed obtain the necessary vote of 40% of membership in good standing with the Association in order to vote him in.
FINANCIALS--
Chris Wameling reported that we have $65,372 in operating funds, $76,462 in Money Market funds, CDs totaling $650,000 . Chris had reported at the December meeting that we had $34,474 in unplanned expense related to sinkholes, hurricane Irene, and the October snowstorm and that because of this, a special assessment may be necessary. It is still uncertain as to whether such an assessment will be waged, as the year-end numbers are not yet finalized. We will know more after the Spring 2012 budget audit of 2011 books.
Chris also reported that the reserve funds are at $806,206.
GROUNDS--
Pam Watt reported that Joshua Tree will be removing the remaining tree stumps left from the fall snowstorm. This is expected to be complete by April 2012. Grass seed will be planted there until such time as trees are replaced.
Front beds will be the top priority for replanting trees and/or shrubs that were destroyed by weather.
Pam reminded the group that snow season is around the corner and that for snow removal on the streets, cars should be in the garage or driveway, and once the streets are cleared, cars can be parked on the street so that driveways can be cleared.
SPECIAL PROJECTS DURING 2011--
All dryer vent inspections and certificates of insurance for the inspection of dryer vents on Lindfield Circle were due to Danella by 12/31/11. Sherry Tepper of Danella will get a list together of the Unit Owners who missed the deadline.
After re-consideration of multiple Unit Owner requests, the Board determined that Unit Owners can resort back to the original six (6) approved deck stains.
GENERAL DISCUSSION--
Chris Kapoor inquired as to whether the Ridings has sinkhole insurance. The Board members did not know and Pam Watt will check with Rebecca Mason of Danella.
An inquiry was made as to whether there were any plans to negotiate with Brookside Country Club for maintaining the fence between the Ridings and the golf course. It was felt that there is some kind of agreement in place between Brookside CC and the Ridings, however, no one was familiar with the terms of the agreement. Chris Wameling agreed to review the agreement with Rebecca Mason of Danella, and then the Board would decide where to take it from there.
Chris Kapoor expressed to the Board the need to keep expenses down and assessments from increasing during these economic times, as it affects the buying market if condo fees are felt to be too high.
Carol Sheen inquired why the reserve funds are so low, and she and other UOs are concerned about this. Generally, reserve funds are raised by increasing condo fees, however, UOs do not look favorably on condo increases. Chris Wameling indicated that we expect to have a reserve study and recommendations completed during 2012.
Respectfully Submitted,
Norma J. Gruber
Secretary
H:\data\word\Ridings at BrooksideGeneral Mtg 010712.doc
12/13/11