Agenda- Finance Committee

 

Agenda

Finance Committee Special Meeting Tuesday July 2, 2019

9:30 AM Conference Room

Distributions: R&R Spreadsheet

 

The purpose of this special meeting is to review the Replacement Reserve Funding for future years in light of the impact of the 2020 assessment for the purpose of making a recommendation to the Board so the board has early information on this issue.

 

  1. R&R Data Update

Discussion of updated database

  1. Analysis of Different Assessment Scenarios

Review of Reserve Funding vs. Expenditures as a function of future assessments

  1. Use of “One Time” Special Assessment

Per Declaration of Covenants in Article V (Covenant for Assessments), Section 4 (Special Assessment for Capital Improvements) “the Board may levy a special assessment payable by installments or otherwise, to be used for the purpose of installation, maintenance, repair or replacement of an electrical utility system, a piped water and/or sewer system and drainage systems.”

New Well Pit and Pump (Kuckelman)    

All Water Mgt Associates work  

Stables Water Distribution

$20,763

$204,345

$128,000

Total is $353,108, or approx. $127/lot.

  1. Motion to the Board to Recommend 2020 Assessment Amount

If the committee believes it is appropriate a motion to recommend a specific assessment amount for 2020 will be prepared. This may be contingent on final billing of pool rebuild project.

  1. Next Meeting

Finance Committee Regular Meeting Tuesday, July 9, 2019 at 9:30 AM.

  1. Adjourn