May 2nd Board Meeting

Published by admin on February 7, 2019February 7, 2019

Meeting Opens

• Review of agenda, confirmation that all are here and ready to begin.

TOPIC 1: Financials- Brian Kirk

• The financial year has started; member dues are beginning to come in
  • 48 homes have paid for 2019
  • Last year 62 homes paid, providing us $3100 in funds
  • Brian will look at who has and hasn’t paid by the end of the month- will send a second invoice to those outstanding
• EPOA Board members reviewed last year’s budget, looked at the proposed budget for this year, and discussed how much we should aim to have in our reserves
• 2019 BUDGET OVERVIEW:
  • Started with $2,556.38 from last year
  • Have received $2,400 in dues payments
  • $902.80 in expenses have been paid so far this year to include:
    • $826.00: Insurance- This provides us a policy for general neighborhood issues; we would pay the deductible for any claims brought against the hood
    • $25.00: Annual Registration- This is the registration fee for the EPOA as a business entity in the state of VA
    • $40.80: Credit Card fees- these are the EPOA fees for credit card payments on dues collected
    • $16.00: Bank Fees- as explained
  • Estimated expenses for the remainder of the year include:
    • $85.00: Monthly Attorney Fee- This attorney acts as the EPOA advisor, as well as the EPOA’s registered agent.
    • $150.00: Website Hosting- The EPOA plans to move the current site and email services to an account owned by the EPOA, vs. privately as it is currently held.
    • $150.00: Accounting Software- This is the annual cost to use QuickBooks, the application that runs the EPOAs finances
    • $750.00: Reimbursement- In December 2016, the EPOA held a holiday event at Evergreen Country Club. The actual total due was $750 higher than the current EPOA had budgeted at the time. Brian Kirk paid the delta out-of-pocket. These funds will be used to reimburse Brian Kirk. Additional measures will also be put into place to ensure future EPOA activities do not result in personal money being used to offset.
    • $1,000.00: EPOA Community Investments- These funds are available for use to hold 2 community meetings through the end of the year.
  • According to the budget, and assuming we can collect dues from the same number of homes as last year (16 outstanding), we will end the year with $2,618.58 in the bank for 2020.
  • Budget Questions to Address:
    • How much should we aim to keep in our reserves?
    • Board agrees that we need to have a healthy amount of reserves above and beyond our operational expenses.
    • At this point there is no consensus on the actual amount of reserves, but the Board established a goal of having $3,500 in reserve at the end of 2019.
    • Discussion took place to identify ways to increase revenue to increase reserves. Ideas included:
      • Greater % of Property Owners paying EPOA dues
      • Initiation Fee for new members / residents (upon sale of home)
      • Fund raising at community meetings
      • Change to the dues structure
    • Action Item: Research bylaws to determine options, authority, restrictions.
    • Note: This should not be interpreted as a decision to raise dues or fundamentally change the way the EPOA operates. This is a carry-over action item from the previous BOD and we are investigating need and options.
  • CONCLUSIONS:
    • Understand who in the neighborhood has and hasn’t paid their member dues
      • Brett will work to leverage data from the previous Board to set up an initial listing of POs.
      • Brian will work against this to determine who hasn’t paid; plan in the works to encourage payment
    • GOALS for 2019:
      • Capture payments from 68 POs for 2019. This is a 10% increase over 2018
      • Increase the reserve to $3,500 by the end of 2019

TOPIC 2: Communications- Angela Bryant

• WEBSITE
  • The current EPOS website https://evergreenpoa.net/ is being managed and paid for by a PO.
  • Domains used by the EPOA (3 in total) are being managed and paid for by a PO.
  • ISSUES: These items should all be paid for by the EPOA- not privately.
  • Communications need to be owned and managed by the EPOA Board- communication is vital to ensuring all POs are in the loop regarding hood news
  • Potential: create a “members only” section of the website to provide additional value add to paid members.
  • GOALS:
    • Bring the website, domains, and email onto one streamlined platform, via a hosting provider, paid for and managed by the EPOA
    • Update the website to be more self-serving:
      • enable real estate agents to request/receive covenant documents needed prior to a hood home purchase
      • enable POs to submit ACC documents through the site
    • streamline email communications and list management for ease of use by both EPOA Boards and POs

TOPIC 3: Investigate Trash help

• Trash service in the hood has started to cause some problems.
• Major provider, American, experiencing some service issues- missed pickups, rescheduled pickups, etc.
• CONCLUSION:
  • Call Charlie & Sons: Call Friday – send email with details out to the board. COMPLETE
  • Evaluate potential other options
  • Poll POs to determine what percentage of folks are actually affected and looking for a change
  • Determine what the Board would have to provide in order to receive community service

TOPIC 4: Who’s Who?

• We need to understand
  • Who is a member of the EPOA
  • Who has and hasn’t paid their dues
  • How much crossover is there between EPOA POs and Evergreen CC
• Brett to start with the data entry of the lots using notes provided by the previous Board.