Virginia City Highlands Property Owners’ Association

Minutes Monthly Meeting – Tuesday October 12, 2010

Virginia City Highlands Fire Station Training Room

 

Present:  Witton, Sparkes, Flanagan, Morrow

 

I.      Call To Order, Declaration of a Quorum and Approval of Meeting Agenda  

Steve Morrow called the meeting to order at 7:28 pm and declared a quorum present.  A motion by Flanagan, seconded by Flanagan to approve the agenda for tonight’s meeting was approved unanimously.

II.    Minutes of the September 14, 2010 Annual Meeting deferred to next month

Minutes deferred to November due to non availability.

III.   Financial Statements  

A.    Monthly Cash Report

Dave Thomas presented the financial statements.  The water truck was repaired for 1800 and required downtime of 15 days. 

There were no quotes for workers compensation as it was to high risk and thanked Lydia for work and finding policy

Dave Thomas recommends a purchase of a roller and presented the findings of monies to be saved over a 10 year period.

B.    Monthly Financial Statements

Dave Thomas reviewed the financial statements for July and August. 

Income for the month of July was $47.06 from dues, assessments, and transfer fees.  Expenses for July were including administrative expenses and road improvements were $27,559.  The ending cash balance of the operating account as of month end was $214,599.  Total assets including property, equipment, and cash are $229,442. Accounts receivable, due to unpaid dues and assessments, are $14,843. 

Income for the month of August was from dues, assessments, and transfer fees were $3,201.43.  Expenses for August were $13,549 including administrative expenses and road improvements.  The ending cash balance of the operating account as of month end was $204,251.  Total assets including property, equipment, and cash are $217,821. Accounts receivable, due to unpaid dues and assessments, are $13,570. 

 

IV.  Committee Reports

A.    Architectural Committee

Three complaints were filed with the architectural committee. 

B.    Road Report  

The water truck was repaired for 1800 and a request for inspection was again requested.   ¾” base was implemented between Enterprise and Dortort. 

 

C.   Park Committee  

All holes were dug and stated to be complete by Sunday October 17, 2010.  Park is closed due to materials and hazards.  NDF tour of duty is over on Sunday.  Park reconstruction was over budget but will be absorbed by the county.  Port a Pot issue discussed and will be required to be paid by the HOA if retained.  

    

V.    Unfinished Business

A.    A meeting with Pat Witton and the Fire Chief occurred with discussion of water rights and imminent domain.  Water rights will stay residential and all water will be drawn from Virginia City.  Appraisal was conducted in 2009 and may need to be updated.  The appraisal was $250,000 not including the $141,000 in upgrades.  Discussed possible 5 year installments with 3.5% to 4% interest.  Concerns of imminent domain lawsuits were stated.

 

VI.  New Business

A.    Other (Culverts)

1.     No culvert on Mustang and Sazaraac creating issues for large vehicles to enter.  Put on road agenda for next meeting. 

 

VII. Any Other Matters which the Board Members Wish to Discuss

Discussion of too many staples and broken glass on bulletin boards and the mail box along with minimal lighting. 

 

VIII.        Adjourn

There being no further business the meeting was adjourned at 8:42pm.

 

Respectfully Submitted

Tammy Sparkes

VCHPOA Secretary