Minutes - Finance Committee

Draft Minutes Rev A

Finance Committee Meeting Tuesday, July 14, 2020

9:30 AM Electronic Zoom Format

 

Attendees:  Committee: Dan Drobnis (Chair), Amelia Adair, Kathy Ritschel, Marti Zieg; Board Sal Monaco (Treasurer), David Sorkin, Mel D’Amore (Vice President); Staff Kristen Kipp ((Portfolio Manager), Julie Navarro (General Manager), Mike Rogers (Facilities Manager)

 

Distributions: Previous Minutes, Financial Reports, Agenda, Revised Procurement Policy, Committee Budget Requests for 2021, Capital Project Requests, Revised Replacement Reserve

 

  1. 1. Public Comment--None
  1. 2. Adoption/Modification of Agenda—as distributed

 

  1. 3. Approval of Minutes—as distributed

June 9, 2020 Regular Meeting

June 23, 2020 Special Meeting

  1. 4. General Manager’s Report
  • Pool Budget and Schedule status
    • Pool open, work completed
    • Construction drawings are expected ~7/20 for bidding on Family Changing Room (FCR)FCR
    • Approximately half of FCR work may be done in 2020 after pool closes
    • Pool may close mid-August for lifeguards to return to school.
    • Some problems with online lane reservations with non-MIGS and -residents
  • Parking lot lighting Budget and Schedule status
    • Installation complete
    • Problems with remote control of lights being worked
  • Inspection of near-term Replacement/Repair items
    • Report available from 7/2
  • Transfer of ECIA property near stables to EAWSD
    • Lot already surveyed and platted
    • Only needs Quitclaim Deed
  • Response to late notices for assessments
    • About 17 payment plans completing by end of July
    • GM trying to contact owners failing to respond to lien notices
    • Owners not reachable or responding will be transferred to collection around end of July
  • Office Procedures development
    • No present progress
    • Difficult to add HOAMCO resources because of NM quarantine requirements
    • Hope to have more local resources after pool close
  • CAI Training completion—no CAI plan for in-person testing
  • Hike/Bike 2020
    • AFJ has order
    • Completion expected in ~4 weeks
    • Need standard Purchase Order Terms and Conditions—Julie to check with HOAMCO
  • Basketball Resurface--done
  • Security Camera Installation
    • Power run to locations at Community Center
    • Mike working with La Canada wireless for camera monitoring
  • Generic e-mail addresses for tasks such as web postings, meeting scheduling
    • Julie will set up
  1. 5. Board Liaison’s Report
  • Board Actions
    • Board will probably be moving meetings to 4th Mondays starting August
    • Finance Committee meeting dates will not change
  • Board actions on Finance Committee recommended motions from 6/9
    • Kathy Ritschel was appointed to Finance Committee membership
  1. 6. Financial Reports—15 minutes TOTAL for Committee questions prior to meeting
  • Review of June, 2020 Balance, Income and Bank Statements
  • Review of Accounts Receivable and Collection Activities
  • Key Performance Indicators
  1. 7. First Draft 2021 Budget--Julie

 

  1. 8. Revised Procurement Policy for Recommendation to Board

 

  1. 9. Replacement Reserve Review—Information
  • Asset Panda testing
  • Incorporation of Pool items
  • Incorporation of Stable Committee Review
  • Future update process

 

  1. 10. Budget Requests--Information
  • Capital Project Requests
    • Roads Survey Equipment
    • Stable Shed
    • Facilities & Grounds list
  • Committee Operating Budget Requests
    • Stable Operating Request
    • Conservation Operating Request

 

  1. 11. Other Business

         

  1. 12. Next Meeting

          Aug. 11, 9:30 AM, Regular Finance Committee Meeting

  1. 13. Adjourn

 

  1. 14. Questions deferred to end

          Tutorial discussion of Replacement Reserve analysis spreadsheet