REHOA Meeting Minutes – April General Meeting
Date: April 30th, 2014
Location: Mukilteo Presbyterian Church
Meeting called to order at 7:00 PM
Sign-in sheets tabulated and quorum established
Introduction: Board of Directors President welcomed homeowners and introduced members of the 2014 board. Minutes from March 15, 2014 Board of Directors Meeting approved as they stand. Introduced representative from Management Trust.
Financial Report given by President.
Discussion followed about the value of having a management company vs. self management. President explained that the board reviewed 4 proposals from various management firms. By a unanimous vote, the board agreed to sign a 1 year contract with the Management Trust which runs through March 31, 2015.
Attendees were provided copies of the 2014 proposed budget. Chelsea explained that budget line by line. Detailed explanation were given regarding Insurance, Management, office expenses, required annual reserve study, state corp fee and filing requirements, wesite fees and use. Maintenance of retenetion pond and 3 vaults were discussed which is the responsbilty of REHOA.
Vote was held to ratify the 2014 budgtet as presented. Yes vote – 20; No votes – 11 Budget passed.
Meeting adjourned at 9:15 PM
Next BOD meeting June 2nd at Mukilteo Presbyterian Church at 7:00 PM