Kings Park West Community Association
Board of Directors Meeting Minutes
November 10, 2021
Board Members in Attendance: Larry Velte, Carolyn LaRosa, Maureen Pettis, Mark Heppner, & Diane Jeffers.
Meeting called to order: 7:31 pm.
Approval of October 2021 Meeting Minutes: Approved.
Treasurer’s Report: October 2021 financials reflected the following: one CIT Operating Account with a balance of $19,060.70; Cash in Transit with a balance of $1,000.00; two general fund CD's with balances of $5,522.15 and $5,505.20; one Reserve Study CD with a balance of $20,893.13; [Accounts Receivable - $10,340.23; 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 $6,737.28; bringing the total assets to a balance of $58,718.46.
Maureen and Carolyn will visit the bank so that Carolyn may receive a signature card for the CD’s.
- Annual Assessments/Liens: Homeowners who have not paid the fiscal year 2020-2021 assessments by November 15, 2021, will be subjected to having liens placed on those properties in December 2021. Board will consult with the Association’s lawyer about pursuing nonjudicial foreclosure on properties whose homeowners are delinquent on assessments prior to fiscal year 2020-2021.
- KPW Herald: Board will submit additional Herald articles expanding on Community Association themes of previous article.
- Annual Audit: Goldklang Group provided the Board with a copy of the completed 2019-2020 audit.
- 2021-2022 Assessments: Burke Community Management Group mailed these assessments to the homeowners in September; payment was due by October 1, 2021.
Hearing no further business, the meeting adjourned at 8:30 pm.