In attendance: Steve Baker, Tom Fischer, Sherman Kahn, David Smith,
Vera Victorino (Abbott), and Donna Howell (Recording Secretary).
The Council of Stewards (COS) discussed these issues and took the
following actions:
1. Finance Committee – Financial
statements for period ending October 31, 2005 were available.
Questions regarding adequate liability coverage of Abbott employees
handling Association funds will be further evaluated. Steve Baker
will consult with the Association’s agent at Travelers Insurance.
Funds currently in two BB&T accounts will not be moved until
the insurance issue is clarified.
Abbott was directed to re-allocate surplus cash-on-hand to avoid
payment of additional income tax.
A motion was made and passed to direct Abbott to draft a resolution
that will convert the Association’s current accrual accounting
system to a cash-basis system. This resolution will be approved
during December and the new accounting reports will become effective
January, 2006.
Maintenance fee coupon books reflecting the new rates effective
in 2006 have been ordered by Abbott and will be delivered by mid-December.
A motion was made and passed to make a $500 donation to St. Alban’s
Church. The donation is being made as an expression of appreciation
to the church for making the building available for Association
meetings at no charge. The donation will be charged to the 2005
budget.
2. Property Transition Committee – Steve
Baker presented two information sheets that will be used
to welcome new residents and provide important material
regarding payment of maintenance fees, website access,
newsletter information, etc. Steve plans to personally
deliver this information to each new resident, to discuss
community activities, and to verify mailing / PO Box
address for Abbott.
3. Townhome/Workplace Building Maintenance Committee – The
complimentary pressure washing of outside townhome walls was started,
but curtailed due to interference with holiday decorations. Washing
is scheduled to be resumed in January.
The revised and final version of the Reserve Study has been completed
and mailed to Abbott for distribution to the Council of Stewards.
The new report indicates that Association reserves will be funded
by 112.5% by the end of 2006. To that end, the monthly contribution
to this fund will be reduced from $9,107 to $9,000 in 2006.
Work order costs through November, 2005 have averaged $210. With
reclassification of some of the charges to appropriate reserve
accounts, the average work order cost should be reduced to $184.
Overall maintenance costs, however, have increased approximately
$400/month since September as the result of roof leaks that were
repaired at a cost of $500 each. This may continue to be a problem
and will be watched closely.
Abbott Enterprises has confirmed that the Association is responsible
for maintenance of the outside doors of townhome units.
Any further requests for quotes to install gutter guards will be
pursued when a new bid form is completed.
4. Landscape & Grounds Committee – Donna
Howell has agreed to serve as the new Chairperson of
this committee.
The peer group irrigation system has been winterized
and closed for the season. [Several reports have been
received regarding operating irrigation systems around
Town Park areas. These have been reported and will be
correctly winterized.]
New quotes for annual maintenance of community fountains are still
outstanding, but are expected to be available in December and to
go into effect in 2006. The water feature at Clemens Square will
not be immediately restocked with Koi fish. Abbott was directed
to make arrangements to have the St. Alban’s Square fountain
cleaned during December.
5. Architectural Review Committee – No
report.
6. Newsletter & Website Committee – Total
newsletter copies remains at 300/month. Emphasis on decreasing
newsletter costs wherever possible will be pursued in
2006.
7. Covenant Committee – No report.
