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ANTLER’S GULCH BOARD OF DIRECTORS MEETING
NOVEMBER, 02, 2004
TELECONFERENCE
PERSONS IN ATTENDENCE:
MIKE MAGLIOCCHETTI
ANDREA SONDERFAN
STACEY L. HARRIS
RON BERGGREN
CHARLES BOMBERGER
TERRANCE CASEY
GWEN WHEELER
REPLACEMENT RESERVE FUND:
Mike briefly discussed the replacement reserve fund spread sheet that he
and Andrea prepared. In this discussion he stated that a contingency fund
had been added to the budget. Gwen asked if as an association they were
contributing enough to the reserve fund replacement. Mike said yes for now.
Andrea then talked briefly about the budgeted increases for 2005. She
explained that the budgeted amount for gas and electric for 2005 has
increased by 10 to 15% due to increased energy rates from X-CEL. She also
touched on the idea of being able to decrease dues. The ability to decrease
dues was enabled by the adding of the bldg. 5 dues. The reduction would be
around $12 to $ 15 dollars per unit per month. There will be an increase of
4% to the reserve fund after 2005.
2005 PROPOSED BUDGET:
Andrea stated that the cable rates are increasing 5-6%. Also, the cost of
snow plowing is increasing. Mike explained that the management fee was
increased. The management fee increase will not cause a dues increase.
Andrea explained that she combined the snow plowing and the landscaping into
one account called common area maintenance. Charlie Bomberger stated that
the budget looks great for energy. Gwen then asked if it was a good idea to
decrease dues. She suggested possibly relocating the funds elsewhere. It was
decided not to discuss this at the annual unless a member brings it up. The
board decided to to “beef” up the landscaping account as well as gas &
electric and hold off on the dues decrease.
Andrea notified the members that building 5 will have separate reserve
accounts for two years.
ACCOUNTS RECEIVABLE:
Stacey talked about Chad Farmer’s late dues. Currently he is the only
serious problem. Mike suggested taking his money from renting his unit to
pay off the back dues. Also Stacey mentioned that Jeff Malooley owes for
units 501 and 504. The money owed will be collected at closing on these
units.
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