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Campfire Mountain Homes
Annual Membership Meeting Minutes
Sunday, December 28, 2003
I. Open, Call to Order
Bonnie Merchant called the meeting to order at 9:00 a.m. at the Key To The
Rockies offices. Eleven of the fourteen unit owners were represented either in
person or by proxy. A quorum was met thus the meeting proceeded as planned.
Members present: Members present by Proxy:
Bonnie & Red Merchant 7 Jan Tucker 1
Scott Boylan 9 Jim & Cindy Brackensick 5
Bill & Alice Parkhouse 2 David Whitten 6
Kay & Bob Tierney 11
Myron Gordin 8
Pat Gordin 13
Bruce & Sharon Stanley 4
Ernie Pierson 12
II. Review Proxies, Approve Previous Meeting Minutes
The meeting minutes for the December 26th, 2002 Annual Meeting were reviewed and
approved as presented.
III. Reports
A. Board President
Bonnie Merchant gave a brief report on Keystone Resort including the
improvements made to the snowmaking operations and some of the changes in the
base area operations.
B. Managing Agent
Mike Magliocchetti reported that the exterior painting project was completed
over the summer. Brett Snyder with Snyder Painting completed this project.
Snyder painting was chosen as it provided the most competitive cost compared to
the two other painting bids obtained. The project was inspected and found
satisfactory.
The main entry property identification was inadequately illuminated so a second
identical fixture was purchased and installed to rectify the problem.
IV. Review 2003 Year to Date Financials
Mr. Magliocchetti gave a report on the estimated year end performance on the
financial statement of operations. He expected the operating fund to finish the
year with an estimated deficit of $3400.00. The reason for the deficit was
attributed to unfavorable variances in the common area maintenance, snow
plowing, and water and sewer accounts. All members’ dues are current with no
delinquent accounts. $18,000.00 has been contributed to the reserve fund for the
year.
The common area maintenance account was over budget due to additional grounds
work completed by Home Sweet Home including repairs to the lawn areas damaged by
the snowplows and the labor to spread additional topsoil.
The snow plowing account was over budget due to the heavy snow fall throughout
early 2003 (January-April).
The water and sewer account was over budget due to the excess water consumption
resulting from numerous breaks in the drip irrigation system. The breaks have
since been repaired.
V. Review & Approve the 2004 Operating Budget
The 2004 operating budget was submitted for approval representing a slight
increase of 1.28%. There were no significant changes in the 2004 budget line
items compared to 2003. The slight change in the budget is due to inflationary
increases in the cost of operating the association. Trash removal was expected
to decrease as Key to the Rockies contracted with a new waste disposal company
at a more competitive rate. The electricity account was budgeted for an increase
based on the actual cost and the cable expense will increase in accordance with
the bulk contract amount. The management fee for 2004 will remain unchanged. Mr.
Pierson made a motion to extend the contract with Key to the Rockies at the same
fee for another year. The membership voted on ratifying the Key to the Rockies
contact and the motion was unanimously passed. After a brief review of the
operating budget, the owners voted unanimously to approve the budget as
submitted. A lengthy discussion took place in regards to the common area
maintenance. Mr. Magliocchetti explained the agreement the association has with
Home Sweet Home for the care of the common areas. It is contracted at a fixed
monthly amount for sidewalk snow and ice removal and summer lawn care. He felt
that Home Sweet Home provided the best service for the most cost-effective
price.
VI. Election of Officers
The only Board Position up for election was the Vice-Presidents position held by
Ray Shane. Mr. Parkhouse expressed his interest in running for the board. After
giving the members in attendance a brief background description of his
qualifications, he was unanimously voted into the board position. The new board
of directors for the upcoming year will be as follows:
Bonnie Merchant President
Bill Parkhouse Vice President
Ernie Pierson Treasurer
David Whitten Secretary
Bruce Stanley Member at Large
VII. New Business
No new business discussed.
VIII. Old Business
Bruce Stanley again reiterated his interest in having the thoroughfare between
Snake River Village and Campfire permanently closed to through traffic. He will
research this possibility with the SRFPD and surrounding neighbors and report
back to the board with an action plan.
IX. Open Discussion
None
X. Adjourn
There being no further business to discuss the annual meeting was adjourned at
approximately 12:00 noon.
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