Lea Hill Village HOA

Board of Trustees Meeting 6-11-24

Amy called meeting to order at 7:10pm

Present: Amy, Sandra, Carol and Eydie

7:11 Financial Report:

May Balances: operating account $46,224. reserves account $62,108. Total cash: $ 108,332

Legal fees recouped in May due to payment of balance by owner

Income tracking higher than budget through May.

Landscaping expense higher than budget, due to gutter repair. 

Also over-budget on windows and graffiti removal, pest control and other miscellaneous repairs that were unbudgeted.

Overall on pace for budget. Next big ticket item resealing roads in 2025.

Owner Balances: 3 accounts in legal, lien warnings pending for 2 accounts, one payment plan in default. Only 22 accounts in arrears total. 9 under $250 total, 6 between $250 and $500. Total outstanding AR $11,439.00. 

7:26 Minutes read from May meeting 

Sandra motions to approve, Amy seconds motion, motion passes unanimously
Votes taken between meetings ratified and entered into minutes:

Passed Voting Results (none failed) Report - 2024-05-13 to 2024-06-11
Account Name    Issue    Date Voted    Issue Title
Lea Hill Village    21465    5/14/2024    Stansell Glass Clubhouse Window Repair $738.34: Repairs & Upkeep: Clubhouse
Lea Hill Village    21418    5/14/2024    Repair Gutters To Clubhouse That Were Blown Down In Storm Rain City $830.55
Lea Hill Village    21184    5/14/2024    Vote Graffitico For Mo Removal Svc GC$433.50 Initial & $356.50 Per Mo-Price Revision Per Invoices
Lea Hill Village    21610    6/11/2024    Dead Tree By Clubhouse (Unsolicited Bid) Tims (No) $966.23 V. Pac Arb $441.20(Yes)
Lea Hill Village    21292    6/11/2024    $581.11 In Arrears Lien And Collection Warning-PP Request $60 Pp-In Default
Lea Hill Village    21583    6/11/2024    2023 Tax Year Audit And 1120H $2350 PNW CPA Vote To Approve Engagement

7:28

Issues 

#21679 ACC request for fencing board approves part of project, but needs clarification on part of project, approved provisionally.

#21610 tree by clubhouse needs removal, unanimously approved second bid received that is cheaper than Tim's Pac Arb $441 from ops

#20931 Legal needs approval for business use of clubhouse draft agreement, vote tabled, comment in issue after meeting.

#21292 payment plan requested, approved through September 1st. 

#21583 Audit for 2023 tax year approved unanimously

No issue for 2022 audit: Since the issue for the 3676 looks to be in the ending 2021/beginning 2022 balances it seems impossible to figure out what happened. As we discussed in the meeting, the board would like to write of the debit balance through a P&L account like Bad Debt. If this will significantly delay issuing the audit report, the board agrees to do this adjustment in either FY 2022 or 2023. (Note: auditor will correct in 2023 audit as the 2022 is complete and would accrue additional charges.)

2022 Draft audit report reviewed, approved unanimously.

Meeting ended at 8:22pm