Heather Knoll Cluster Association

Board of Directors Meeting

November 14, 2018

The meeting, held at Craig Downie‘s (1200), was called to order at 7:30 p.m.

Board Members present: Craig Downie, Tim Schick, and Petra Raymond and Cate Fulkerson.

Minutes

m/ Petra s/Cate The minutes of the October 25, 2018 Board meeting were approved.

Financial reports

m/ Tim s/ Craig The financial report for October was approved.

The Board reviewed budget projections for the remainder of 2018 and for 2019. The Board Agreed to include funds for a legal review of the Cluster Association’s bylaws in the 2019 budget. The 2019 budget will be finalized at the Board’s January meeting.

2019 Budget and HOA Fee

m/Cate s/Craig The Board approved a budget of $59,635 for the 2019 fiscal year, allocated $2,500 from the unexpended 2018 balance to minimize HOA fee increased, and set the 2019 HOA fees at $490 per quarter for interior unit and $523 per quarter for exterior units. The quarterly fees will be allocated as follows:

	Interior	Exterior
Operating fund	$274.69	$274.69
Paint Reserve	$84.61	$111.18
Roof Reserve	$92.19	$98.62
Paving Reserve	$34.17	$34.17
Sidewalk & Curb Reserve	$4.34	$4.34
TOTAL	$490.00	$523.00

Snow Removal Contract

Craig agreed to review a proposed snow removal contract with Environmental Enhancements.

Annual meeting

The Board reviewed the agenda for the Dec. 3 annual meeting.

The next Board meeting was set for January 9, 2019 at Tim’s house (1223)

The meeting adjourned at 9:35 p.m.

Respectfully submitted,

Tim Schick, Secretary