10/7/23 CCCA BOD Meeting - Minutes
MINUTES FROM CARRIAGE CROSSING BOARD MEETING
Meeting attendees: Board Members
Gwen Rhett
Dan Morris
Jesse Powell
Glen Posey
Angela Jesses
Robyn Majors (Not-Present) Travis Howard (Not-Present)
October 7, 2023
INTRODUCTION: The Carriage Crossing Board Meeting was chaired and opened at 10am by Gwen Rhett.
President reviewed for the BOD clarification of the Reserve Study objectives as follows:
Three years to obtain funding levels FY24, FY25, FY26
Deadline for Reserve Study, October 1, 2023. Deadline met by BOD.
BOD will revise the study with new repair data.
The consequences if funding the reserve study is delayed.
Underfunded Reserves
Deferred Maintenance (Which has occurred in the Community)
Increase difficulty to get back on track!
Reminder to the BOD that we have a Fiduciary Responsibility to manage the community funds properly! (CCHOA Bylaws Article V Section 5.10)
The proposed budget discussion for 2024 reflects that the community needs to collect $68.00 per home per month for the reserve fund and $48.00 per home per month for the operational fund. The Millerdodson study states the community needs to have $82,720.00 in the reserve fund. The study was done to ensure the community is in compliance with Maryland House Bill 107 as well as adhering to the responsibility of repair/replace/demolish structures, asphalt parking lot, gravel, front entrance lighting, announcement board, as well as repurpose tennis court area. We are currently grossly underfunded.
The BOD majority voted to increase the HOA Assessment Operational to $576 per year ($48.00 per month breakdown) and added the Reserve Funding $816 ($68.00 per month breakdown) FY24 ONLY! This Assessment is per lot owner. FY 25 and 26 will see a decrease in the HOA Reserve Assessment of $26.00 per month. The board voted as follows for the change: Yes- 6 No- 1
The homeowners in the community who have any unpaid dues will be subject to a 2% interest charge.
Treasurer Report
4 members out of 6 have been sent notice of intention to file a lien on 9/29/2023. The remaining 2 members HOA Attorney waiting on a report from GHEEN Accounting.
There is currently $11,000.00 still due to HOA for back payments. All parties that have elected monthly payments are paying as agreed. 5 members have been sent letters of intent.
The community will place 10,000.00 in a high yield savings account at 5.25% for 6 months. The board vote 6 yes, 1 member pending
As of October 3rd, Reserve Account balance is $46,418 and the checking $18,895
The payment platform is being finalized.
Nominations/Elections
Any community member who would like to serve on the board must have their nomination in by 1 January 2024. If your account is in arrears you cannot serve on board. Nominees must be a lot owner.
Old/New Business
BOD will start advising the Community commencing October and November via General HOA Meeting and December via a letter sent to every lot owner and Community website posting detailing the new Assessment, Projected Budget, Current Balance of Reserve Funds (November 23) as well as soliciting to fill three positions with nomination/election for new FY24 BOD. Community received a quote from Dennison to prune 15 Crepe Myrtles at the entrance for 2600. This has to be done to mitigate the risk of low visibility when driving in/out of the community. Denison Landscaping will schedule between January and March of 2024. Vote: Yes-5 No-1 Pending-1
BOD has received two contract bids for maintenance of landscaping from Denison Landscaping, Collentro Landscape and Design and waiting for JMC Landscaping for FY2024.
BOD will start advising the Community commencing October and November via General HOA Meeting and December via a letter sent to every lot owner and Community website posting detailing the new Assessment, Projected Budget, Current Balance of Reserve Funds (November 23) as well as soliciting to fill three positions with nomination/election for new FY24 BOD Community will receive a letter with items such as: budget, by-laws for community, reserve study, house bill 107, etc.
Takeaways from September General Meeting
Questions/Comments will be limited to 2 minutes only to be respectful of meeting time.Zoom Etiquette will be posted on community website and FB page. Suggested to have a timekeeper.
Any questions/concerns that are related to BOD are to be kept in BOD meetings.
Meeting adjourned 11:15am