MEETING AGENDA On February 22, 2024 the Staffords Farm HOA Board of Directors met to hold their annual meeting of the directors. The meeting was called to order at 7:30pm. In attendance was the Director of Communications, the Director of Treasury and the Board Director.
The meeting began with director updates.
The Director of Treasury shared the final calendar year income statement. The statement represented a total income of $8,226.75 on dues collected and new membership fees. Expenses for the year covered the typical postage, legal/professional fees, insurance, and grounds maintenance totaling $5,595.32. These totals netted a total gain of $2,631.43 to the HOA operating accounting in calendar year 2023 with an ending cash position of $14,928.00. The Director of Treasury reminded the board that last calendar year we ran slightly in the red due to increased expenses for tree removal and trail maintenance/repair.
The Board Director confirmed the renewal of the turf care contract for the 2024 season with Valley Landscaping. This is a four step treatment with a total expense of $2,000.00. The Board Director shared news of their departure from the board in the coming weeks. And also shared initial research regarding contracting an outside firm to manage the day-to-day tasks of the HOA that would be tabled to be discussed later in the meeting.
There were no major updates from the Director of Communications.
Following director updates the budget for 2024 was approved upon vote. The directors in attendance also voted to increase dues in 2024 to $181, a 5% increase as allowed in the HOA bylaws.
After setting the dues for 2024, the process for production and delivery of annual dues statements to all homes in the HOA was discussed and reviewed. Following past timelines, these statements will be mailed in March with a deadline of April 30, 2024.
Circling back on a topic from earlier in the meeting the board discussed in more depth the possibility and impact of contracting an outside firm to manage the day-to-day tasks of the HOA. The additional expense was discussed and deemed that this could be feasible within the current budget without a significant increase to dues. Concerns were shared with the current lack of neighborhood participation and willingness to volunteer for HOA duties. The bylaws were reviewed, specifically lines 16-17 on page 4 regarding the board’s ability to employ a manager and prescribe their duties. It was mentioned that this had been explored before but there was hesitation from the membership. Following the discussion it was decided that this information be shared with the other board members not in attendance and to set-up an exploratory meeting with a local vendor who manages HOA’s throughout the community.
The meeting was adjourned at 8:15pm.