Kings Park West Community Association
Board of Directors Meeting Minutes
December 14, 2016
Board Members in Attendance: Nancy Grant, Larry Velte, Maureen Pettis, and Mark Heppner
Meeting called to order: 7:41 p.m.
Approval of November Meeting Minutes: Approved 4–0.
Treasurer’s Report: November financials reflected the following: one CAB Operating Account with a balance of $26,370.07; 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 $4,414.73 (Accounts Receivable - $4,112.27; Interest Receivable - $1.27; Prepaid Expenses - $301.19); bringing the total assets to a balance of $60,102.99.
· FY 2016 Audit – Board will provide vendor conducting the FY 2016 audit with responses to questions relating to the KPWCA Reserve Study and other financial obligations.
· Annual Assessments – Board will ask Burke Community Management Group to review status of properties that have incurred liens due to non-payment of annual KPWCA assessment. Three liens were released in the past month and fourteen properties still have liens due to unpaid assessments.
· Commonwealth/Sideburn Wall Maintenance – Board will deposit $500 into Reserve Study CD. Beautification of the brick wall at northeast corner of Commonwealth and Sideburn completed and payment made to vendor.
· Tree Hazards – Trees posing a hazard to properties along Collingham Drive and Nantucket Court were dropped and payment made to vendor.
· Liability Insurance – Board reviewed current insurance policy and determined liability insurance coverage for KPWCA directors and officers is adequate.
Hearing no further business, the meeting adjourned at 8:32 p.m.