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Dakota Ridge Homeowners Association
Board of Directors Meeting
Thursday, May 18, 2017

In attendance: Sharon Pace, Paul Orzech, Sarah Jones and Tomas Stone; Jim Lob by phone
Guest in attendance: Nancy Kounovsky – Commercial Property Group (CPG)

A meeting of the Board of Directors of the Dakota Ridge Homeowners Association was called to order by President Sharon Pace at 8:05 am in the Board Room of The Commercial Property Group, LLC at 3001 S. Lincoln Ave., Steamboat Springs, Colorado.

Tomas recapped the Association’s financial results for the fiscal year ending March 31, 2017. The overall income and expense from operations resulted in a surplus of $66,001.67. The surplus is primarily due to higher than budgeted water income due to higher than budgeted water usage during the summer of 2016 and from savings in some of the expense categories. The largest expense variances, all favorable, were Snow Removal, Water System Repairs and Water Operations.

In addition to the surplus resulting in the previous fiscal year, the surplus from the fiscal year ending March 31, 2014 in the amount of $9,167.04 continues to be classified as “Undesignated Fund Balance” in the Balance Sheet.

Tomas made a motion to reclassify the Undesignated Fund Balance at April 1, 2017 in the amount of $75,168.71 to the Capital Reserve, which includes the surplus from the fiscal year ending March 31, 2014 ($9,167.04) and the surplus from the fiscal year ending March 31, 2017 ($66,001.67). Paul seconded the motion. The motion carried unanimously.

With regard to Water, the Association is still waiting for the report from Civil Design Consultants (CDC). Paul plans to set up a meeting with Medora and CDC to assess the status and timeline of the completed report.

No action was taken with regard to Roads.

No action was taken with regard to ARC.

Under Other Items, the Board discussed options for dealing with non-resident bicyclists that ride through the private neighborhood roads.

In addition, the Board directed CPG to notify homeowners in the future (via email) when minutes from the monthly Board meeting are posted on the website along with any other pertinent neighborhood reminders/updates.

The next Board meeting was set for Tuesday, July 25, 2017 at 8:05 am.

The meeting was adjourned at 9:10 am.

Respectfully submitted,
Nancy Kounovsky