Monday June 17th, 2024

 
Association Administrator
Commercial Property Group
1856 Lincoln Ave
Steamboat Springs, 80487

Phone: 1.970.879.1402
Fax: 1.970.879.7777
E-Mail: info@drhoa.org
 

 

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Dakota Ridge Board of Directors Meeting

Wednesday, March 13, 2019, 8:05am

Present: Sarah Jones, Jim Lob, Nancy Pyle, Holly VanDeursen, Paul Orzech (phone)

Others Present: Medora Fralick and Nancy Kounovsky (Commercial Property Group), Bill Noyes (guest)

Water (Jim)
Duckels Construction is completing the final punch list for the Chlorine Contact Basin project (CCB). The final payment will be made in the near future. It appears that the project should come in under budget. Matt Mielke (CDC) and Tim Gibbons will follow up on the latest water testing requirements from CDPHE.

Finance Update (Paul)
The balance sheet shows approximately $283K in cash as of 2/28/19, $280K of which is earmarked for capital reserves (there will be a final amount left to pay on the CCB project). Paul recommended opening an interest bearing account at another local bank so that the Association’s account balances will be maintained within the FDIC limits of $250K per bank. Commercial Property Group will open this new account in the early part of the next fiscal year subsequent to the annual billing for HOA Dues.
The net income at 2/28/19 is $25,848 compared to a budget of $25,935. While the overall amount of the surplus is close to the amount budgeted, Paul noted and explained the variances in the following operating expense categories: Admin/Accounting (over budget), Capital Improvements Plan (under budget), Road Maintenance (over budget), Road Snow Removal (under budget), Water Operations (over budget).

Roads (Nancy)
The regular road maintenance is scheduled to occur this summer. The condition of the Upper Trail Ridge Road section will be evaluated once the snow melts. The Board also discussed the possibility of refreshing the most recent road report from NWCC.

ARC - Holly said nothing has come before ARC since the last meeting.

Finance Committee / Capital Improvement Plan
The Finance Committee met on March 12, 2019. The Board reviewed an updated 10+ year Capital Reserve Cash Flow schedule and decided to present this report at the Annual Meeting. The Board will ask the Association Members to complete a survey to identify preferences as to how to fund the anticipated capital reserve projects in future years.

Other Business
Jim Makens sent a letter to Board asking for consideration of future fire mitigation projects. Sarah will reach out to the state Forest Service and ask for input on areas of concern within the neighborhood.

The next board meeting date be held on Thursday, May 9, 2019 at 8:05am.

The meeting was adjourned at approximately 9:30am

Respectfully submitted,
Nancy Kounovsky
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