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Lake Winterwood BoD Monthly Meeting Minutes

May 12 2021

General Meeting

1) Call Meeting to Order (George T.)

2) Attendance and verification of quorum

 Board Members: George T, Amanda M, Dave C, Tom C, Bryan C

Management: Eydie L

Guests: Liz C

3) Approval of Minutes from April 2021: Approved

4) Voting Report; ratify decisions/votes taken since last meeting; approved

Passed Voting Results Report (none failed) - 2021-04-15 to 2021-05-12

Account Name Issue Date Voted Issue Title
The Lake at Winterwood 12007 4/28/2021 ACC To Move Lawn Back 4 Feet And Add Retaining Wall Before Ditch
The Lake at Winterwood 12084 4/29/2021 Vote To Approve Asphalt Sealing In 2021 Prior To Painting For $2,560 Vendor Tbd
The Lake at Winterwood 12094 4/29/2021 Wedding Request To Use Overflow Parking Sept 12
The Lake at Winterwood 11936 4/29/2021 General Session Meeting Minutes To Review 041421
The Lake at Winterwood 11935 4/29/2021 Exec Session Mtg Minutes To Review 041421
The Lake at Winterwood 12152 5/12/2021 Owner Complaint About Acc Approved Fence

5) Financial Review end of April:

  • Income/Dues delinquencies: 1 homeowner delinquent 4 months plus fees/fines, notices sent per policy; 6 are behind $75, notices go out the 17th if still behind
  • Expenses: $314 sprinkler repair and $40 backflow test front of neighborhood, the rest are normal expenditures as budgeted;
    • Insurance reflects the new premium expense year to date: $1,448.05
  • Operating Cash Checking @ Chase: $34,888
  • Reserve Balance: savings @ Chase: $15,962; invested @ Edward Jones: $45,004 total: $61,971

6) Old Business

  • Tom: Activity by cul-de-sac next to big lake: no response from the city engineer; spoke about taking over the road from the corner
  • Bryan: Status of Big Lake noxious weed removal and shoreline reclamation - Tom, George and Bryan met with Tim's Landscape, told us they can do this type of work, waiting for proposal
    • test approach to killing yellow iris by covering with plastic; Tom and George will try this on a small section and see how it works.
  • George & Bryan: Review CD/Savings investment of reserve funds: George and Bryan met with Scott Beusch at Edward Jones on April 30th to discuss our account;
    • Currently: earning 0.01%, not likely to improve unless FED increases interest rates; was 1.3%-1.5% when started a year ago;
      • Interest is variable, adjusted monthly 
      • $45k in invested in a basket of money markets offered by various institutions, value may be equal to, more or less than what was invested; risk to principal is very low but not zero;
    • Increasing interest rate requires more risk; reviewed various ETF's involving corporate bonds; 
    • Conclusion: we should not be risking this money, it is our owner's money and is to be there when needed for the HOA; not intended to make money; a hassle every year when president and/or treasurer is replaced, have to sign forms, provide individual SS #'s, etc.
    • Recommendation: move money to savings account with Chase; we currently have $15k there earning 0.01% and zero risk; easier access, myHoa-Online would have same access as our checking account; should have ability to pay for reserve fund projects directly from this savings account rather than transferring money to/from checking, better tracking; motion to close Edward Jones account and transfer money to the existing savings account we have at Chase; seconded all voted to approve.
  • Tom: Ditch weed control by Earthworks: Tom to research what chemical is used; $800 per treatment by Earthworks; need to establish how much of the ditch will be treated and how ofter, Tom to get this information into the issue system for review and vote.
  • Tom: sealing and painting parking lot/pickle ball court: Tom reviewed bids to seal and paint the court: One $3,478 to repair and seal the surface; 2nd $3,043 to repair and seal asphalt and paint three pickle ball courts; motion to approve the 2nd bid after discussion; seconded, all voted in favor; motion approved. Tom to handle project and communicate with pickle ball players.

7) New Business

  • Fire on upper deck of park, deck closed until damage assessed and repaired; George reviewed the need to have a contractor inspect the integrity of the deck, make sure the structure is sound along with what it will take to repair it. Bryan discussed that we have a $1,000 deductible and that this would be covered. Will get a claim started. George received an email from a homeowner indicating he had some knowledge of who might have started the fire. George also proposed replacing the fire extinguisher a homeowner used to put the fire out before the fire department arrived, all approved. The Fire inspector/King County Police reviewed the site, we will receive an incident report and number from the inspector. Also discussed replacing trash cans with metal cans and another frame the can is placed in for the upper deck area. The cause of the fire has not been determined.
  • Tom/Bryan: Security Patrols: Bryan sent out scope of work to board: discussed if board is interested in perusing patrols; Tom and Bryan to pursue a proposal with the company recommended by Eydie and report back to the board.
  • Spring clean up: Tom and George to put together a list of things that need to be done.
  • George/Bryan: timing of meeting minutes and P&L on main page, two weeks after BOD meeting: Board agreed to approve minutes within two weeks of the board meeting.
  • Meeting minutes and financial P&L; include in monthly newsletter? have had requests from homeowners: discussion was had: motion to include P&L and minutes in monthly news letter, seconded, all voted to approve, to start with the May meeting minutes.
  • Yard Sale with Winterwood Estates, asked if we want to do it on the same days, advertising, etc: Eydie discussed liability to HOA endorsed/coordinated garage sales and events in general; risk is very low risk but exists none-the-less. Suggested if homeowners want to get together and coordinate garage sale on their own, no exposure to the HOA. Response to Winterwood will be we will inform our residents when their garage sale is, if we have homeowners  interested doing at the same time they are welcome to do so.
  • Tom: no trespassing signs: moved some no trespass signs around, one near the trail entrance to the woods; put a no parking sign on the chain at the top of the cul-de-sac and tow sign on the light pole that's there; researched replacing the signs that were stolen with heavier duty signs; 5 signs would cost 129 each, $712 total to replace two stolen and three existing; or we keep the existing yellow and red signs as repositioned and see how things go with trespass activity. Board decided to use the existing signs, move them around as need be.
  • Dave: Homeowner tree issue and arborist opinion; an arborist who came out at no cost and walked with Dave identified trees that should be removed behind two homes because if they fell they could cause damage to homes based on the size, the way they are leaning, likely trajectory and the type of trees, they are cotton woods; To get a written report from the arborist with recommendations would cost $250; Eydie suggested calling the city who would send out their arborist and give us guidance for free. Dave to contact city for approval to remove the trees. Motion to get bids to have trees taken down and left in place, seconded, all voted to approve. Dave to pursue bids and contact city for approval.
8) Next BOD Meeting:·  June 9th, 6:30pm executive, 7pm general meeting.

9) Motion to Adjourn Regular Meeting, motioned carried.