BOARD OF GOVERNORS REGULAR AND BUDGET MEETING
MINUTES
Tuesday, October 20, 2009 – 7:30 P.M.
T.P.C. Eagle Trace Clubhouse

 

President Marty Friedman called the Regular Meeting to order at 7:30 p.m.  Those directors present were Mickey Berk, Harvey Morrow, Renee Waltz, Jeff Eisensmith, Luisa Geilen, and Ted Scatcherd

Absent: None

Management: Lou Brawer

Accountant: Carol Eskew, Goldman, Juda, and Eskew

Attorney: Steve Weinberg, Frank, Weinberg, and Black

 

Mr. Friedman opened the meeting by thanking everyone for attending this meeting and for the great turnout.

He then told the audience that there will be some good news to report later in the meeting.

Finally, Mr. Friedman reviewed the rules of order for the meeting and reminded the audience that they will have an opportunity to speak after Board discussion of each Motion. He also said that there will be time toward the end of the meeting for audience members to ask general questions or make comments to the Board.

 

APPROVAL OF THE MINUTES

Mr. Friedman asked that a MOTION be made to accept the Minutes from the Regular Meeting held on September 15, 2009.
A MOTION was made by Mr. Morrow and seconded by Mr. Scatcherd to approve the Minutes of this meeting. THE MOTION PASSED 7 YES and 0 NO.

FINANCIAL REPORT

 

Carol Eskew from our accounting firm presented the financial report for September 2009.

For the month of September 2009 the Master Association was under budget by $7,194. Year to date the community is over budget by $6,907. Mr. Brawer again reminded the Board of the inventory of transponders that has already been paid for.

 

The Community Reserves as of September 30, 2009 is $579,891.

Mrs. Eskew also reported that as of October 20, 2009 the Association has $83,743.66 in outstanding resident assessments from the 3rd quarter and prior. Total outstanding assessments are $311,201.03.

Mrs. Eskew then commented on some changes that have been done for the reporting of legal fees. Starting this month there will be three lines on the expense report dealing with legal:

  1. General Community Matters
  2. Collection Matters
  3. Legal Fees Recovered

Mrs. Eskew then went over the actual expenses for these line items which are as follows:

  1. General Collection Matters
    1. Year to Date                    $27,976
    2. Budget                             $15,000
    3. Over Budget                    $12,976
  2. Collection Matters
    1. Year to date fees            $46,008
    2. Fees Recovered             $21,157

Finally Mrs. Eskew talked to the Board about bad debt and explained that the $5000 that has been budgeted for Bad Debt will be moved from the expense side to the balance sheet and will show full use for 2009.

 

2010 OPERATING BUDGET

Mr. Brawer presented the Proposed 2010 Operating Budget and went over several of the line items that had significant change from 2009. The bottom line is that there will be no increase in the quarterly assessment for the residents.

Mr. Friedman opened the floor up for questions concerning the budget and since there were none the discussion was closed.

A MOTION was made by Mr. Morrow and seconded by Mr. Eisensmith to approve the 2010 Operating Budget as submitted by management. MOTION PASSED 7 YES and 0 NO.

 

ASSOCIATION MANAGERS REPORT

 

Mr. Brawer presented his report, which was presented to each Board member in written form. A copy of Mr. Brawer’s report is attached to these Minutes and will be placed on the web site for residents to review. Some of the key points that Mr. Brawer reported on included:

    1. Mr. Brawer started off his report by talking about the transponder system and the sprint gate that was installed at the West Gate. Mr. Brawer feels that everything is working very well and that the residents have really accepted the system and have adjusted to its use. He went on to thank Marian Frey for all her hard work during the transition period.
    2. Mr. Brawer then talked about the work that was done on 12688 Classic Drive. It was reported that this house has been listed for rent with a local realtor and that the necessary repairs have been made. The cost of the repairs will be less than $5000 and included the exterior painting, two rooms of new carpet, repairs to the A/C system. Exterior landscaping still needs to be done but this is included in the $5000.
    3. Mr. Brawer reported that there have been no changes to the property at 1970 Las Colinas Way.
    4. The Board was then brought up to date on the work that is being done on the irrigation systems. It was found that there were electrical problems with the system that were beyond the expertise of our staff. Potter Lawn and Landscaping recommended a gentleman who has been working with our staff on correcting the problems.
    5. The post orders for the guards are being revised to handle the new transponders. All changes should be completed within the next few weeks.
    6. Finally Mr. Brawer reviewed the plans for this weekend’s Halloween Party and the plans for Halloween night.

 

ARC REPORT

 

Mr. Brawer presented the ARC report for the Committee and explained the different applications.

A MOTION was made by Mr. Scatcherd and seconded by Mr. Berk that the ARC report be accepted as recommended by the committee. MOTION PASSED 7 YES and 0 NO.

.

NEW BUSINESS/AUDIENCE COMMENTS

 

Dr, Gary Krulick addressed the Board about his concerns with the new Membership Class that was established at TPC. Dr. Krulick was concerned with the security of the community and the fact that this was a step closer to TPC becoming a public golf course.

Mr. Weinberg responded and explained that there was really little the Board can do to prevent this change. He quoted the section of the documents dealing with the club’s use of the Association’s property.

Mr. Friedman said that he felt that for the first time in many years that TPC is really trying to work with the residents.

LEGAL REPORT

Mr. Weinberg gave each of the Board members copies of his collection report and reported the following:
                        Association Foreclosures   17
                        Bankruptcies                                    2
                        Bank Foreclosures              39 (14 of which are current with Assoc.)
                        Association Liens                25 ( 5 of which have been paid in full)
                        Collection Letters                 14 (8 of which have been paid in full)

The Board then asked Mr. Weinberg questions on particular units and advised which units he needs to move forward with. 

 

NEXT MEETING

 

The next Regular meeting of the Board of Governors will be held on Tuesday, December 15, 2009 at 7:30pm. The meeting will be held at the TPC Eagle Trace Clubhouse.

ADJOURNMENT

 

The meeting was adjourned at 8:50pm.

Respectfully submitted,

Louis Brawer
Association Manager