Print

 

 

Annual KSPOA Phase I & II Membership Meeting

 Hatteras Realty Office 2nd Floor Conference Room

 November 28, 2014

Meeting Minutes

 

The 2014 Fall General Membership meeting was called to order by President Ron Tasso at 9 AM. Officers and Directors in attendance were VP Paul Bauer and Directors Don Delwiche, Laura Larson and David Scarborough. Directors Doug Hamrock, Dan Neal and Larry Bickner were absent.

President Ron Tasso explained that a change in the Hatteras Realty telephone system has made tele-conferencing less convenient and would not be available for this meeting.

The minutes of the November 2013 General Membership Meeting were distributed to the property owners in attendance for review. President called for corrections and additions; none made, the minutes stood approved.   

1. Treasurer’s Financial Report 

Director David Scarborough distributed a two-sided display of financial data attached). Side one was the Balance Sheet – Trend as of November 27, 2014 which listed Assets and Liabilities (& Equity) for the years, 2010, 2011, 2012 and 2013 year-end, and the year 2014 as of Nov. 27th. The latter total Assets was $86,597. Several outstanding expenses will be paid by year-end and his estimate for the year end 2014 Assets is about $80,000.

The opposite side of the financial report displayed the profit & loss data for 2013 and 2014 plus the budget for 2015. The display included variances between budget and actual for 2013 and 2014 as well as the variance between budget for 2015 and the estimated actual for 2014. Director David Scarborough called attention to the fact that the forecast 2014 year end result includes a 3,000 contribution from the operating account to the Emergency Reserve fund. The Board’s goal is to build a sizable reserve for the repair or replacement of boardwalks should there be major storm damage at some future time. This reserve will hopefully prevent the need for a special assessment should such damage occur.

2. Maintenance Issues

3. Architectural Review

In Director Doug Hamrock’s absence, President Ron Tasso reported that no new houses have been constructed during the past year but there have been numerous improvement or maintenance projects conducted by homeowners. These require the approval of the Architectural Committee per the Covenants to the Deeds unless being done in the context of emergency repairs after a hurricane. Application Forms are available on the KSPOA website along with instructions as to the types of repairs or improvements that must be approved by the ARC. Painting (even when duplicating the same color), refurbishing of exterior stairways, decks, etc, require completion and submission of the application for approval. The application fee of $50 will be waived if the project is minor in nature and does not result in a significant alteration of the original construction in the opinion of the ARC. It was pointed out that in the early days of the development almost all houses were constructed with cedar shakes and had a natural color. In more recent times paint has become popular. The Association limits colors to the Main color, a Trim color and an Accent color.

4. Board nominations and elections

A motion was made and seconded and approved by voice vote to appoint Mr. Robert (Bob) Huang as a new Board Director. President Ron Tasso reported that all of the current board members had agreed to continue their assignments for another year. A motion was made, seconded and voice vote approved to extend the board’s current composition for another year.    

5. Owners questions and concerns

A property owner asked whether the Association provided mosquito control services. President Ron Tasso responded to the negative but said that the County has agreed to treat areas if requested. There were no further questions and a motion was made and seconded to adjourn the meeting.

 

Don Delwiche