The Department of Real Estate typically requires an initial budget from the developer for each community that a developer proposes to build. This budget is set upon specific guidelines for utilities, landscaping, administration, etc. Reserve funds are monies set aside for future expenses due to the life expectancy of certain items: lighting, street resurfacing, fencing, etc. These amounts are then divided by the number of units built in a given phase of the development. Subsequent budgets are developed by the Board of Directors and adjusted periodically to meet anticipated expenses. Back to FAQ List
Uncategorized
What is a “management company”, what do they do, and how do I reach them?
A management company is contracted by the Board of Directors to provide such services as: Collection of assessments, supervision of subcontractors, obtaining bids for subcontracted services, providing financial statements and collection reports, as well as a general clearing house for problem solving, communications with homeowners and the Board of Directors and to serve in an advisor capacity. The management company reports directly to the Board and all decisions are made by a majority vote of the Board of Directors. Southern Plantation Homeowners Association does NOT have a management company. Back to FAQ List
What happens if I don’t pay my assessment?
The maintenance and management services incurred by the Association are dependent upon timely receipt of the assessments due from each homeowner. If payments are late you will incur a monthly late fee of 10% of your annual dues. The CC&R’s allows the Association to charge late charges and interest and proceed with a lien on your property, or foreclosure proceeding for nonpayment of assessments. Back to FAQ List
What is my assessment?
The assessment, otherwise knows as Association Dues, is the periodic amount due from each homeowner to cover the operating expenses of the common area, hazard insurance, and provide for reserve funds for replacement of common facilities in future years. Your assessments are due 30 days after receipt. Statements will be sent for assessments as a reminder of the amount due. Back to FAQ List
Are board meetings open to all residents? If so, where and when are they held?
Yes. Notice of the time and place of any regular board meeting will be noted in the Announcements section of this site, and will be updated monthly no less than 2 weeks prior to the meeting and no more than 45 days before the scheduled meeting. The meetings are usually held in on the second Tuesday of each month. Back to FAQ List
December 2011
Welcome / Introductions – Meeting was called to order by Patrick Kimes at 7:00 pm.
Present at meeting: Patrick, Steve, Robert, Matt, Kendall, Jessica
Review and approve November Minutes – The minutes from November were approved.
Financials
– Matt Byerly: The financial documents were emailed to the board members and will be approved by email.
SPHOA has a balance of about $43,000 and an accounts receivable balance of $24,817.93
– Handling Past dues / liens: The accountants will provide a list of past due accounts. The board will contact the lawyer (Jeff Burns) to update the liens and demand letters will be mailed.
Office updates
– Accountants relocating to North Carolina: everything is set for the accountants to operate remotely. Matt will email the accountants to get the statements ready to be mailed.
– Winter Newsletter: The cost is about $350 to send out. The newsletter will notate that “Annual dues are not increasing” Updates to the newsletter will be sent out to the board for approval. The goal is to mail out the newsletter and statements before January 1, 2012.
– Using sponsors: This is a good idea. Patrick will contact homeowner about inquiry and Stan Stevenson.
– Web Cam and using Skype: Robert will purchase web cam and set up.
We should start using info@sphoa.net and office@sphoa.net as the primary emails. The website and newsletter should be updated.
Planning Committee
– Kid Pool or Splash pad (received estimates): Patrick will solicit bids from Sunshine Pools, Clear water Pools, and Aggieland pools. We will ask for financing terms. Matt will check with Brazos Valley Bank about a small loan. The board has agreed on a total price point around $25,000.
Social Committee: No updates
Neighborhood news / updates: No updates
Code Violations: No commercial ventures will be allowed at the club house. A section will be added to Club house reservation.
Action Item List
– Door replacement bid: No new information. Waiting on bid from Robert Muller
– New back door bid
– New brick mail box bid
– Volleyball Net (how should we replace?): Stan Stevenson will remove the posts. A new volleyball net and posts will be obtained to replace the broken volley ball set.
– Renew Contracts for Pool Service and Lawn Care Service: The SPHOA board approved to renew the contracts for 1 year with a unanimous vote.
Budget for 2012: Matt will send out the budget to the board members by email. This will be a working document until all of the project estimates have been approved.
Open Discussion / Concerns
Presentation of ByLaw Amendments: Please see attached changes.
Faucet running outside of clubhouse: The faucet is off now. Robert will update of any necessary changes.
Fixing pool chairs: George Lee will have several of the pool chairs fixed for a standard hourly rate.
Hanging office blinds: Robert will hang the blinds over the Christmas break.
Missing Minutes: Robert will look for the February minutes and update the board on any other needed minutes. The minutes will be updated on the SPHOA website.
Big Event Ideas: Clean up the playground area by putting all rocks back into the playground.