Minutes - Finance Committee

Approved Minutes Finance Committee Meeting Monday 3/14/16

9:30 AM Conference Room


Attendance:  Dan Drobnis (Chair), Todd Handy ((Treasurer), Brenda Leonard (General Manager)


1. Public Comment--none


2. Modifications/Adoption of Agenda—adopted as distributed


3. Approval of Minutes from previous meetings:

2/16/16—approved as distributed


4. General Manager’s Report

Security Camera Installation Status

            Compadres Park not completed because of installer illness.  Stable may need relocation or aiming.

Annual Report Status

            Released to editor.  Auditor notes not yet accurate.

Replacement Reserve Study Status

            Study contractor expected on-site in next month or so.

Rental House Asbestos Status

            Demo and remediation awaiting bids.

Recommended Insurance Adjustments

Minor adjustments pending quotes and employee transfer of Worker Comp to HOAMCO.  Liability coverage for Volunteers on ECIA tasks will be added.

5. Treasurer/Board Liason Report

            Board Openings and Candidates

                        One candidate for two openings.  Third opening from Calzada resignation.

            Stables billing process for 2016

One set of Stables bills has been sent.  Manure billing is a problem, since not all manure is presently useable.

            Litigation Status

                        Poultry—District court ruling in favor of ECIA currently in appeal.

                        Solar—Appeals court has ruled in ECIA favor.

            Staff Transition

Current staff will be transferred to HOAMCO April 1.  Funds already in 2016 budget contingency for modest additional cost.


6. Financial Report

            Correction of Jan. 2016 Report

Journal entries for fund transfers not implemented.  Vacation and IRA accruals may have a problem.  Needs further corrections.

            Feb. 2016 Report

Four lots still missing from Assessment Revenue.  Correction expected in March.


7. Procedure for Overdue Accounts—Draft Discussion postponed from 2/16

                        Postponed further.


8. Committee Submission for Annual Report

9. Annual Calendar Check

January—Old Business

Procurement Procedure Review

            Postponed further.


                        Committee Submission for Annual Report

Report contains additional information on distribution of Reserve cash to Capital and Replacement Reserves


10. Next Meetings

Mon. Apr. 18 9:30 AM Regular Finance Committee Meeting-9:30 AM


11. Adjourn

If you wish to receive e-mails on Finance Committee topics, including draft documents being reviewed, please let me know at drobnisd@comcast.net.  On the other hand, if you are tired of receiving them, please let me know also.