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The meeting was called to order by President Kaney at 10:00 A.M.
Directors in attendance were: Daniels, Freeman, Colvett, Eller, Johnson and Pieper.
Staff in attendance: Brown, Wyatt and Gwozdo.
Upon motion made by Pieper and seconded by Colvett the minutes of November, 2013 were approved as submitted.
Wyatt had sent a copy of the financial statements to the Board for review. She reported that property owners are submitting payments promptly. Expenditures for Roads are less than in March 2013 and Security’s expenditures are normal.
Daniels reported that conversion from our old hybrid accounting system to a full accrual accounting has been completed. The annual review has been completed and the report is available at the office. Tax returns are in process.
Motion to accept the January and February financial statements was made by Daniels and seconded by Freeman.
Daniels moved that the minutes reflect that the Board has received and accepted the independent accounts review report dated March 20, 2014 by Johnson, Price and Sprinkle PA, certified public accounts in Asheville, North Carolina , who have reviewed the balance sheets of the Wolf Laurel Road Maintenance and Security Homeowners Association and its subsidiaries and the related statements of revenue, expenses , changes in member’s equity and cash flows for the years ending December 31 2013 and 2012. This review included applying analytical procedures to management’s financial data and making inquiries of Association’s management.
JPS notes that in accordance with accounting principles generally accepted in the U.S. management is responsible for the preparation and fair presentation of financial statements and for designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements.
JPS states that based on their review the accompanying financial statements of the Association are in conformity with accounting principles general accepted in the U.S. and the financial statements require no material modification.
Motion was seconded by Freeman and unanimously approved.
Long Range Planning
The Board voted to reflect in the Minutes that the Board has previously received the Report of the Governmental Study Commission and the attached separate statements by representatives of the various entities taking part.
We thank Chairman Beneke and the other members of the Commission for their efforts and work product.
The documents are helpful as they identify and provide insight into the areas of both accord and concern. Clearly there is significant divergence of interests and viewpoints expressed, some of which are basic and diametrically opposed. However there are also suggestions which the Board will consider implementing which may lead towards eventual consolidation of many of the Greater Wolf Laurel homeowners associations.
The Court in Yancey County has entered a judgment in the amount of $8,758.68 in favor of the Association against the Martin Revocable Trust, owner of the residential property in Wolf Laurel Resort. The collection action relating to the Martin lot has not yet been adjudicated.
The Martin container litigation is set for trial during the week of May 12, 2014 in Burnsville. Our insurance defense counsel and our independent counsel are defending the claim and prosecuting the Association’s counterclaim. Counsel will be re-contacting witnesses and completing trial preparations.In the tree cutting case, Martin’s responsive pleading is due shortly. We have a default against the person who allegedly did the actual cutting.
- Collections efforts:
Review of the Aged Receivables discloses a marked reduction in the number of delinquent post-2002 property owners. They will be receiving the 5-day pre-suit letter preliminary to our counsel filing suit. So apparently the message is getting through that this Board means business in fairly enforcing assessment obligations.In those cases where we have judgments, counsel has forwarded the judgments to the sheriffs of Madison and Yancey Counties for execution with forced sales to occur early this summer. Where the value of the lot is less than the debt, in some cases we are undertaking collection actions against other assets of the former property owner.Both Madison and Yancey Counties own property in Wolf Laurel Resort as a result of tax foreclosures. Both counties are timely paying their assessments for road maintenance and security.
Some properties owned by long-time property owners have changed hands with long standing unpaid assessments being satisfied.
We continue to work with those property owners who are having financial problems when they choose to communicate with us.
The Jones motel has been foreclosed upon and is now owned by a financial institution. We have been in communication with an agent for the institution who likely is engaged to sell the property. We have advised her of the use constraints on visitors to the property being in Wolf Laurel Resort. Inquiry has been made as to the outstanding debt which is presently $28,761 and the current assessment rate for the property. The Board believes that the applicable assessment rate is four times the current residential lot rate. For 2014, the assessment would be $3,103.60 (4x $775.90). It is believed that the bank has about $237,000 invested in the property. It certainly would be beneficial if a Wolf Laurel individual or group would buy the property at a discounted rate and either raze the building or utilize it in a more appropriate manner for the community.
Mr. English and the Ski Slope is now current in paying the road and security assessments.
Although the Ridges Property Owners Association has been billed for their Wolf Laurel assessments, no payment has been made for roads or security and thus they are delinquent.
It was moved and passed that the Association send a reminder to the Ridges Property Owners Association of this debt. If payment in full is not received within 20 days from the date of the reminder, the automated gate passes of the Ridges property owners will be suspended and those owners will be required to stop at the gate and undergo the standard access checks as applied to all other delinquent property owners. The automatic access pass will be immediately re-activated for any individual Ridges property owner who makes payment in full relative to their own property. Further, the Association will advise the individual Ridges property owners in writing of the planned revocation in event of continued non-payment.
Johnson reported that he is working on the April newsletter and that the minutes and financials will be posted shortly.
Johnson reported that the committee is up and running. The goal is to have a draft for the Board by July 1st.
We have had minimum snow (60 – 70“) but severe cold. The thaws have resulted in more damage than usual. More gravel than usual for this time of year is being used due to the thaws.
Country cable has sub contracted their fiber optics installation to another company whose vehicles have done around $10,000. worth of damages. A full report including contract with Country Cable and damage documentation will be given to Pieper for investigation.
Equipment is in good condition after rebuilding 2 plows and replacing transmission in plow truck.
We have done no work in the Ridges since November. We are plowing Cherry Knob and billing the Preserve HOA at their request.
We are plowing and salting roads at Mountain Side town homes in trade for equipment use.
Water damage to RMS building has been repaired. New tiles in the bath room, kitchen and entry are in place. New carpet is going down in the conference room and the old RMS offices.
Phone and cable will be in tomorrow. We will be ready by April 1st.
- Ski season is over and the staff is enjoying the break. The number of sign in sheets have decreased from 12-15 to 1 or 2 a day.
- The truck is running well. We will have a donated light bar installed on the truck which will enhance safety.
- Ken Porche, our new man on Patrol is performing very well and seems to enjoy the position.
- All guards are now working a minimum of 32 hours a week and I have a new relief guard in training.
- Things are running smoothly and we are ready for our residents to return.
We have only few small remodeling jobs at present. Hopefully in April we will have a meeting.
Meeting with AT&T cell tower representative to be set for date of May Board meeting.
Colvett requested that the Board consider allowing assessments to be remitted by multiple automatic payments over the year for prospective buyers of lots. Discussion followed regarding interest fee, availability and qualification, changing the uniformity of payment for property owners, requirement that deeds stipulate that the lots are subject to the 2002 Amendments to the Covenants, and objective sought to be accomplished. Kaney appointed Daniels and Anselmo to work with Colvett in order to submit a proposed policy to the Board for discussion.
Questions and Comments from the Floor
Next meeting will be announced.
J Lewis Daniels,