Kings Park West Community Association

Board of Directors Meeting Minutes

 February 8, 2023

Board Members in Attendance:  Larry Velte, Carolyn LaRosa, Maureen Pettis, Mark Heppner, Diane Jeffers, Jim Bovino, and Sharon Decker.

Meeting called to order:  7:31 pm. 

Approval of January 2023 Meeting Minutes:  Approved.

Treasurer’s Report:  January 2023 financials reflected the following:  one CIT Operating Account with a balance of $17,245.64; two general fund CD's with balances of $5,522.70 and $5,505.74; one Reserve Study CD with a balance of $22,895.31; [Accounts Receivable - $9,103.63; 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 $5,700.68; bringing the total assets to a balance of $56,670.07.

Old Business:

• Tree Work: Board paid vendor for removing fallen trees near 10328 Collingham Drive. 

New Business:

• Website Renewal: Board will reimburse Larry Velte $143.31 for cost of annual domain name and website management package renewals charged to his credit card.
• Unpaid Assessments: Board will work with attorney to develop plan for collecting unpaid assessments owed by homeowners.
• Deferred Assessment Resolution: Board approved language recommended by auditor for the deferred assessment resolution:  “The Association elects to apply all or part of the excess assessment income to the following year’s assessments and that such final amount shall be at the Board’s discretion.”
• Board Meeting Schedule: Next meeting scheduled for March 8, 2023, will be at Laurel Ridge Elementary School.

Hearing no further business, the meeting adjourned at 7:52 pm.