Kings Park West Community Association
Board of Directors Meeting Minutes
April 8, 2020
Board Members in Attendance: Nancy Grant, Mark Heppner, Larry Velte, Maureen Pettis, James Bovino
Meeting called to order: 7:47 p.m. Meeting held remotely via Zoom video conferencing.
Approval of March 2020 Meeting Minutes: Pending review by board members. Secretary to provide for review. Approval delayed until May meeting or until board members can vote unanimously by email.
Treasurer’s Report: March 2020 financials reflected the following: one CAB Operating Account with a balance of $16,208.57; two general fund CD's with balances of $5,472.26 and $5,455.46; one Reserve Study CD with a balance of $19,713.39; [Accounts Receivable - $4,533.13; Allowance for Bad Debts - ($3,905.41); Assessments Receivable - $259.90; Interest Receivable - ($258.63); Prepaid Expenses - $301.19]; bringing the total assets to a balance of $47,779.86. Total Other Current Assets with balances of $930.18. Note: Treasurer will renew all three CD's on April 15, 2020.
- Annual Assessments/Liens – Fourteen properties currently have liens due to unpaid annual assessments owed to KPWCA. The Burke Community Management Company is in the process of filing and releasing liens as necessary.
- Annual Meeting – Due to coronavirus disease of 2019, annual membership meeting scheduled for May 20 is postponed to later date to be determined. Election of board members is delayed. Assessment to remain set at $40 per year. HOA members will be notified by letter.
- 2015 Reserve Study – This topic was not discussed. Planning for the 2020 update TBD.
- No new business.
Hearing no further business, the meeting adjourned at 8:30 p.m.