12/05/2022
Some Highlights from the November 15, 2022 Annual Meeting.
1. A quorum was not reached, so the Annual Meeting has been rescheduled to January 17th, 2023 @ 6:30 pm (ZOOM MTG)
2. A proposal to remove some of the overgrown trees that are blocking the street lights in the parking lot islands, and causing tree sap and bird droppings to fall on vehicles parked beneath the trees, was approved. Note: After the meeting the Board was informed that the proposal from Ballard contained inaccurate information and a new proposal was received. As of today (Dec 5th), several Board members have not responded as to whether or not they approve of the revised proposal.
3. The 2023 budget was reviewed. A $10 per month per unit increase in assessments was approved. For a number of reasons, David Greene suggested increasing the monthly dues to as much as $165 to cover actual expenditures. This was proposed because the Board has spent over it's budgeted amount for three consecutive years, with the overage increasing each year, and the unencumbered funds available to pay for those averages shrinking each year. David Greene explained that continuing to do this will leave no operating reserves to cover unplanned, unexpected, and unbudgted costs in the future potentially requiring the Board to assess unit owners for future budget overages. Another reason the higher amount was recommended is because the approved budget doesn't meet FHA reserve requirements, meaning that potential buyers cannot obtain FHA loans to purchase in Falcon Crest. The approved budget also cut the funding for Improvements and Repairs to $1,000 even though this Account was once funded at over $26,000 annually, and $1,000 would significantly limit the Boards ability to make any improvements to, or even properly maintain the community in 2023. When the discussion concluded, Megan Paddy moved to approve the budget with the $10 increase. David Phillips seconded the motion. The motion carried 3-0 with David Greene abstaining from the vote.
4. The Board approved a contract to have Economy Pest Control conduct a termite inspection of all units during the winter of 2023.
5. The Board continues to debate about what information is documented in the Treasures Report, recorded at the meetings. This topic will be discussed further at the January 17th Meeting.
