|January 2016 Board Meeting Minutes|
Meeting began at 6:45 PM with Rod Langman, Christian Coulter, John Larese, and Dan Ellsworth in attendance. Rod presided as president. The meeting adjourned at approximately 8:45 PM.
1. Minutes from the November 2015 Board of Directors meeting was approved without change. There are no minutes from the December 2015 meeting as the meeting was postponed after the resignations of board members Louise Povlin, Mike Ryon, Joleen DeWald, and Harry Tucker. Jeanie Stow resigned the next day.
2. The board confirmed newly elected executive positions. The current board members are as follows:
Rod Langman: President
Noel Gilbreath: Vice President
Christian Coulter: Treasurer
Dan Ellsworth: Secretary
3. A financial review was conducted on Monday, December 28th. The meeting took place at 7:00 PM at the Fox Run clubhouse. Prior to the meeting and consistent with the Fox Run Bi-Laws, names of qualified Fox Run residents not serving on the board were submitted. After a unanimous vote by the board Dan Wickard was chosen to conduct the financial review. The review was conducted between Christian Coulter (Fox Run Treasurer) and Dan Wickard (Reviewer), and was witnessed by board members Dan Ellsworth, John Larese, and Noel Gilbreath who were in attendance as observers. The agenda of what was covered can be seen below:
A. Overall finances: Banking institutions/Accounts used, Amount generally collected yearly, Percentage of payers, Long term commitments, Routine maintenance items, Insurance of Board Members, Routine savings of receipts, Board inclusion on the financial aspects
B. Dues collection process: Notification by email/letter, Records of payment, File keeping/alignment with deposit to bank, Delinquencies/Late Fees, Method for resolving issues, Court Action
C. Yearly budgeting: How amounts are initially determined, Inclusions of likely expenses for the year, Board review and approval, Presentation at the annual meeting
D. Important Financial Events: Tax Preparation, Pool Licensing, Title Company verification, State of Tennessee yearly incorporation
E. Monthy Finances: Checks written, Automatic Payments, Cash usage/withdrawal policy, Bank Statements-Reconciliation, Monthly actuals and YTD + Future Projections against budgets, Board review of upcoming budgeted expenditures, Board approval of non-routine or non-budgeted expenditures
The Fox Run treasurer, Christian Coulter, provided detailed information for each agenda item and allocated time to answer each and every question asked of him. Dan Wickard's review determined that Fox Run Finances were in very good order. In his written summary it was determined the financial reports were totally transparent, well organized and supported with scanned back-up copies of checks and correspondence, and balanced against a cash flow plan for the fiscal year. The board is appreciative of the time volunteered by both Dan Wickard and Christian Coulter to conduct this review.
4. Christian reviewed the December finances. Total expenses for the month were $8,024. The total in the Fox Run bank account is $135,767. There were three late payers and letters have been sent to each. A notice was given to Fox Run for a 7% increase in insurance costs. Christian initiated an analysis and cost comparison to see if we can get this fee reduced or save money with another provider. Christian also negotiated with ADT to eliminate the rate increase for 2016.
5. Architectural Review - Three fence requests were approved.
6. Clubhouse - The board expressed their appreciation for all the work Dianne Bishop has done and continues to do in the transition of clubhouse responsibilities.
7. Safety - There were no safety issues or criminal activity reported for the previous month. We continue to be alerted by the Knox County Sherriff of any suspicious activity in the area.
8. Social - The board discussed looking for volunteers to participate in the organization of a community Easter egg hunt that could take place in the vicinity of the clubhouse grounds.
a. The board voted unanimously to look at options for landscaping the association property that lies just west of the first two homes on Brochardt and along Union Road. This would most likely be done with the planting of trees/shrubs that would offer visual appeal for the neighborhood as well as increased buffer from future developments/road widening of Union Road. Dan will get quotes from Volunteer as well as other options to bring to the board for consideration.
b. On 1/26/16, prior to this meeting, the board met with Fox Run resident Billy Fulghum from Fulghum, MacIndoe, & Associates. We discussed erosion and drainage in the association property between Golden Fox and Vancurry Lane and heading down towards Comblain. We reviewed a survey that Fox Run had Fulghum, MacIndoe, & Associates complete. Options were presented to the board for ways to help manage the water flow and subsequent erosion. This would be a long term project and the board is looking to implement it in stages. We are awaiting a quote for the first stage to review at the next meeting.