November 11, 2020 Board of Directors Meeting Minutes

Kings Park West Community Association

Board of Directors Meeting Minutes

November 11, 2020

Board Members in Attendance:  Nancy Grant, Mark Heppner, Larry Velte, Maureen Pettis & James Bovino.

Meeting called to order:  7:35 p.m.  Meeting held virtually via Zoom video conferencing.

Approval of October 2020 Meeting Minutes:  Approved.

Treasurer’s Report:  November 2020 financials reflected the following:  one CAB Operating Account with a balance of $18,619.71; Cash in Transit with a balance of $1,000.00; two general fund CD's with balances of $5,521.60 and $5,504.65; one Reserve Study CD with a balance of $20,891.04; [Accounts Receivable - $8,107.03; 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 $4,504.08; bringing the total assets to a balance of $56,041.08.

Old Business:

  • Annual Assessments/Liens – Ten properties currently have liens due to unpaid annual assessments owed to KPWCA. Board to follow up with Burke Community Management to research status of properties who did not pay assessment last year to ask for list of liens that were released.  HOA management stated one lien was paid since last month.
  • 2020 Reserve Study – Board paid $1,705 for second payment installment. Study is now complete.  Total cost of reserve study was $2,623.  Board is prepared to fund maintenance/replacement of property as needed according to study recommendations.
  • Trees – Northern Virginia Tree Experts completed work on hazardous trees behind 10400 Ashcroft Way and 10323 Commonwealth Boulevard. Payment complete.
  • Trees – Board accepted $645 quote from Northern Virginia Tree to complete work on hazardous tree at 4761 Tapestry Drive. Work pending.
  • Trees – Board accepted $670 quote from Northern Virginia Tree to remove dead tree at 10422 Collingham Drive. Work pending.
  • Online Banking – Treasurer to continue researching online banking accounts which may offer higher interest rates and yields.
  • Northern Virginia Training Center Project – Monitoring the project related to stormwater runoff that will improve the stream banks which run through our property and into Royal Lake Park.
  • Home Remodeling – Board continues to remind homeowners about county ordinances when remodeling homes (i.e., construction at home on Commonwealth Blvd.)

New Business:

  • Audit – Board paid Goldklang $2,300.00 for the annual audit.
  • Monthly meeting – December 9, 2020, meeting will be held virtually via Zoom.

Hearing no further business, the meeting adjourned at 8:24 p.m.