Kings Park West Community Association

Board of Directors Meeting Minutes

November 9, 2016

Board Members in Attendance: Nancy Grant, Maureen Pettis, Mark Heppner, and Jim Bovino

Meeting called to order: 7:41 p.m.

Approval of October Meeting Minutes:   Approved with edits 4–0.

Treasurer’s Report:  October financials reflected the following: one CAB Operating Account with a balance of $25,972.40; two general fund CD's with balances of $5,357.01 and $5,344.54; one Reserve Study CD with a balance of $18,616.64; Other Current Assets with balances of $5,746.94 (Accounts Receivable - $5,444.48; Interest Receivable - $1.27; Prepaid Expenses - $301.19); bringing the total assets to a balance of $61,037.53. 

Old Business:

· Commonwealth/Sideburn Wall Maintenance – Board will deposit $500 into Reserve Study CD.  Vendor selected by the Board to beautify KPWCA common property has completed repointing the brick wall at northeast corner of Commonwealth and Sideburn.

· Tree Hazards – Board selected bid from a vendor to drop trees posing a hazard to properties along Collingham Drive and Nantucket Court.

· Annual Assessments – Board will again remind Burke Community Management Group to correct the financial record of a homeowner who paid a delinquent assessment; Board will remove the lien it placed on the home.

New Business:

• Board member received a solicitation from vendor seeking new clients for its community association management services.   
• Board member attended a Braddock Neighborhood Association Leadership meeting.  Attendees were strongly advised to obtain liability insurance for Home Owner Association directors and officers if the HOA did not already have such a policy.  Board will review current insurance policy to determine if coverage is adequate.
• Board received request from vendor conducting the FY 2016 audit that the Board provide responses to questions relating to the KPWCA Reserve Study and other financial obligations.     

Hearing no further business, the meeting adjourned at 8:33 p.m.