Minutes - Finance Committee

Draft Minutes

Finance Committee Meeting Monday, May 14, 2018

9:30 AM Conference Room

 

Distributions: Previous Minutes, Financial Report, Agenda, Prelim 2019-20 R&R

 

Attendees:  Sal Monaco (Chair), Todd Handy, Fred Miller, David Sorkin, Dan Drobnis; Isabel Ugarte (HOAMCO, General Manager), Emily Spies (HOAMCO, Comptroller); Joseph Guiterrez (Board Treasurer and Liaison), Nolan Zisman (Chair, F&G Committee 10:45 on), Claudia Ahlstrom, Board VP and alternate Liaison, 10:45 on).

Absent, Excused:  Sandy MacGregor, Marti Zieg

 

  1. Public Comment—No members of the public were present.
  2. Additions to/Adoption of Agenda—adopted as distributed with an addition for QuickBooks data recovery.
  3. Approval of Minutes—Revision 1 Approved as distributed.

April 16, 2018

 

  1. General Manager’s Report

Report on Status of R&R 2018 Projects moving forward—a Gantt chart distributed.  Some misallocated charges will be corrected in the May Financial Report.

Swimming Pool Opening on schedule—state inspection scheduled Friday 5/18.  Hiring lifeguards is difficult—9 on board for 2018 vs. 14 for 2017.  Lifeguard shortage and pool engineering study will probably require shutdown after Labor Day.  There is still no signed contract for the engineering study. 

Hike/Bike Trail Maintenance routine maintenance has not begun.  It was emphasized to the GM that this is a HOAMCO responsibility whether or not there is timely volunteer support from the F&G Committee.

The County is indicating that they can move forward on street and driveway aprons for the Hike/Bike paths along Avenidas Vista Grande and Monte Alto by July.  The County’s asphalt supplier will provide materials to the ECIA for just under the $30K budgeted, and the County will provide labor and machinery.

The County appears to have $100K available from State capital allocation to allow paving of Avenidas de Compadres and Vista Grande that are below PASER standards.  The County is asking for a contribution from the ECIA of $15K, which the FC advised could be allocated from the Capital Reserve.

There is a bad gopher infestation at the common areas at the Stables.  GopherPatrol has been engaged to perform lethal non-poison trapping.

There is a shortage of support staff for the GM in the office.  HOAMCO is providing some extra temporary support.  Robert Hurtado is now on board as the Maintenance Supervisor.

There is a lawsuit involving the Association from a former HOAMCO employee.  Our insurance carrier has been informed.

The Association has not received an invoice for insurance beginning April 15, 2017.  Isabel has contacted Steve Crawford to assure that coverage remains in force.

The Stables barn owners have now been billed for manure, water, and fly predator amounts due under a new Board Policy for 2018.  It is not clear whether November 2017 property tax bills have yet been invoiced to barn owners.

A QuickBooks software license has not yet been procured and software installed to allow access to data pre-2015.  Todd Handy offered to help.

Patching and seal coating of the Community Center parking lot has been done, but no striping for traffic and parking—a safety issue with pool opening May 25.  During the FC meeting, GM Isabel was able to confer with the striping contractor and F&G Chair Nolan Zisman to arrange for striping on Sunday, May 20.

           

  1. Board Liaison Report

Request for FC to review paper workflow process in Office – discussion devolved to a request for FC to review and recommend changes to the existing Procurement Procedure.

There are about 120 new accounts that have not paid 2018 assessments, about the usual number for this time of year.

No accounts have been turned over for collection to Moses, Dunn et al.  This will happen in July after liens on new overdue accounts have been attached.

R&R Discussion—a special joint meeting was scheduled with FC and F&G Committee members for Monday, May 21 10 AM to discuss 2018-2020 scheduled items.

Board Treasurer Joseph Guiterrez reported on the Board and Officer elections.

 

  1. Financial Reports

The Association is considerably under-running the 2018 Operating Budget, largely due to staff departures. 

There are continuing indications of lack of care in coding expenses to the proper General Ledger line items, making detailed variance comparisons unreliable. 

Bank statements from Sunflower/FNBSF have been only sporadically distributed for several months.

Promised spreadsheet providing details on expenses charged to Reserves has not been produced.

7. Update on maintenance and capital spending from F&G

  1. Purchase materials necessary for the County to pave or extend aprons where hike/bike network intersects dirt cross streets, per the approved priority list. Est cost $34,000—now established at $30,000.
  2. Seal coat and repair small areas where weeds have come through the pavement on hike-bike path along Av. del Monte Alto and along Av. Vista Grande between Av Monte Alto and Chusco Rd. Est cost $20,000. Is this something for which the contractor can be held partly responsible?
  3. Acquire and install crossing signs where missing or illegible along the entire hike-bike network. Est. Cost of materials $2,000. Should be Operating Maintenance.

 8. Next Meetings

Special Joint FC and F&G meeting on R&R Monday, May 21, 10 AM Conf. Rm.

Regular Finance Committee Meeting Monday, June 18, 2018, at 9:30 AM

Adjourn—11:45 AM