HOA Meeting 12/6/22

Called to order by Brittnee at 7:01 pm

Roll Taken (29 residents with 2 proxy’s), quorum achieved

Minutes read (by Brittnee) from 6/16

Minutes approved and ratified.

Treasurers Report Review

TD: “NPMC is in good shape financially”

Possible future expenses

• Tree reservation
• Tree replacement
• Split rail fencing
• Signage
• Scotch Broom removal
• irrigation issues
• street strip maintenance
• monument signage

Budget Review (Eydie)

No increase in dues

Eydie helped clarify expenditures with money moving backs in the management switch

Lower rate for banking fee’s/ie: counter checks

Could be some adjustments for the Audit ($2500)

Reserve study cost increase due to MyHOA recommendation

Printing cost reduced

Insurance went down due to switch on carriers

Increased budget for community events

reserves remain the same

small buffer for a general fund

Electricity is significantly lower, leading to dropping budget

Budget is passed

Reserve Study Review

Project Balance- $25,951 ($61,927 - 42% funding - currently at medium risk

Goal is to have it funded at 70% in a reasonable time

1.15 annual increase will get us fully funded

Proposed expenses for reserve study

• Monument sign
• concrete repair
• pathways
• irrigation
• Basketball Hoop
• fencing
• recreation equipment
• climbing wall

Eydie can send full copy of reserve study upon request

Managers Report:
register on the site
PayPal is up and running
will add features
ACC requests to be done online
Eydie is main POC

Q&A

Why do we budget annually if reserve study is done every 3 years

- Every 3 years is an onsite, but year 2 & 3 are desk top studies for inflation

Elections

looking for 1 new board member

no nominations through the mail

call for noms over the phone

Melissa King was nominated;2nd & passed

Melissa King will also serve as Secretary

Old Business

~Irrigation issues: we were paying for water where there was breakage.

City won't repair broken water main.

Cedar River Water estimates $30-40k to run new line rather than use broken city main

Hardscape is our next best and most affordable option; Quotes in process

~2022 changes

Management company changes

Reserve study

Not ready to make a change on landscapers yet, very costly to switch

New Business

By law amendment - shifting the annual meeting in the 4th quarter

Q&A

Ramesh - are there limits to the usage of the newly opened street.

Brittnee - limits on truck types, ie; no semi-trucks. Amazon delivery vans not supposed to be using the road unless they are delivering to the neighborhood.

As there was no further business, a motion was made, and Meeting adjourned 8:19 pm