Kings Park West Community Association
Board of Directors Meeting Minutes
August 12, 2020
Board Members in Attendance: Mark Heppner, Larry Velte, Maureen Pettis, James Bovino, & Carolyn LaRosa.
Meeting called to order: 7:32 p.m. Meeting held virtually via Zoom video conferencing.
Approval of July 2020 Meeting Minutes: Approved.
Treasurer’s Report: July 2020 financials reflected the following: one CAB Operating Account with a balance of $16,411.44; two general fund CD's with balances of $5,520.22 and $5,503.27; one Reserve Study CD with a balance of $19,886.06; [Accounts Receivable - $4,412.73; Allowance for Bad Debts - ($3,905.41); Assessments Receivable - $259.90; Interest Receivable - ($258.63); Prepaid Expenses - $301.19]; total other current assets with balances of $809.78; bringing the total assets to a balance of $48,130.77.
- Annual Assessments/Liens – Eleven properties currently have liens due to unpaid annual assessments owed to KPWCA. Board to follow up with Burke Community Management Company to research status of properties who did not pay assessment last year. Assessments for fiscal year 2020-2021 were mailed out July and are due August 31, 2020.
- 2020 Reserve Study – Board will send $918 (first payment of 2020 reserve study proposal) to Miller Dodson. Total cost of study is $2,623.
- Trees – Work behind 4914 Heversham Court is complete on one tree and the other is pending. Awaiting invoice to make payment. Board will investigate claim of hazardous tree behind 4780 Catterick Court.
- Mailbox – Board continues to investigate and confirm status of KPWCA P.O. box.
- Online Banking – Treasurer to continue researching online banking accounts which may offer higher interest rates and yields.
- Trees – Board will investigate claim of hazardous trees behind 10400 Ashcroft Way and 10323 Commonwealth Boulevard.
- Monthly meeting – September 9, 2020, meeting will be held virtually via Zoom.
Hearing no further business, the meeting adjourned at 8:05 p.m.