October 2015 Board Meeting

Present from the Board were John Gensinger, John Harper, Tiffany Alexy, Amber Stotesbury, Lisa Whitley, and Gary Moore. Representing Wilson Property Management were Jeb Black and Joe Stewart. HOA President Gary Moore called the meeting to order at 3:00 PM. John Harper motioned to approve the last meeting’s minutes. Amber Stotesbury seconded the motion. The motion was approved with no opposition.

Treasurer’s Report. General expenses are on track, other than increase in cost of security guard. The fire inspections (5/10 year and annual) were not budgeted for or anticipated. If all goes well this month, an additional $10,000 will be transferred to reserves.

New Business.

• There was discussion in regards to sub-meter water utilities, as the cost is about 40% of our budget. Wilson Property Management offered a useful example of another student community they manage that just switched to sub-metering. They are just now getting those water bills and establishing the new baseline. This will be useful for University Woods HOA to see if there are any issues.

• Buildings and maintenance: Exterior rails are being repaired, and dryer vents being cleaned. There are a few more trees to be removed.

• It is being recommended by the HOA management company that we do a financial audit in 2016.

• On the list for next repairs are the parking lot areas that need re-sealing and minor cosmetic repairs to the clubhouse.

Management Report.

• Drainage issues were observed at the 2020 building; drainage systems were put in so that A/C units were not sitting in water during heavy storms.

• Small side fire hydrant restored back to working order.

• Satellite dishes will be removed from buildings as they are against the HOA bylaws.

• There has been an insurance claim due to faulty repair of a sink by a tenant resulting in water damage. The insurance deductible is $10,000. Each year there is an insurance claim, the HOA is paying $10,000 out of pocket for this expense. Not only are they expensive, but more losses mean that the HOA runs the risk of not being insurable in the future.

• The HOA has a contract for pest control but this is for external treatment of the property and not for extermination for indoor pests or insects inside individual units. That is the responsible of the tenants or owners.

John Harper made a motion to recommend that members vote on the 2016 budget at the University Woods Annual HOA Meeting.Amber seconded the motion.The motion was passed with no opposition.

Old Business.

• Two of the largest delinquent accounts that owed HOA dues have agreed to a re-payment plan, based on a maximum of 18 months.

The University Woods Annual HOA meeting has been set for Tuesday, January 26 at 7 pm at the University Woods Clubhouse.

The meeting was adjourned at 4:39 pm by HOA President Gary Moore.