Carriage Lawn at Barkley Homeowners Association
Board of Directors Meeting
Monday, September 10, 2007
Call To Order
Manson called the meeting to order at 7:16 pm on Monday, September 10,
Management Office, 4105 Rust
Road, Fairfax, VA 22030.
following persons were present
- Reinaldo Salva (From Koger Management)
Items discussed at
reviewed HOA financials prepared by Koger
reviewed cash balance of HOA and agreed to place $15,000 in a risk free CD
with Mercantile Potomac Bank.
keep balances at community association bank below the $100,000 FDIC
level, BOD directed Koger to break the $25,000 risk fee CDs with Community
Association bank and transfer money to a CD with Mercantile Potomac Bank
or other bank
asked for clarification and details on accounts receivable (Account code
1400) and prepaid assessments (account code 2200)
- Koger to revert back to Board (Michael Noonan) with
check that is be deposited with Mercantile Potomac Bank
check after terminating the $25,000 CD at Community Association Bank for
deposited to Mercantile Potomac Bank
Noonan to deposit CDs with Mercantile Potomac Bank, Tysons
- Koger to email board details on account 1400 and
requested Koger to prepare a draft 2008 budget
for review and discussion.
requested Koger to get confirmation from Pine
Ridge on new contract and pricing
- Koger to talk with Pine ridge and confirm pricing for
2008 and also prepare draft budget for 2008.
a. Board reviewed and discussed the status of 2006 audits
- Koger to provide Marshall
with management representation letters for 2004, 2005 and 2006 audits for
discussed Koger proposal to repay $5334 to home
to follow up with Koger to communicate board concerns
and propose a faster repayment schedule
- Marshall to follow up
with insurance carrier to confirm continued insurance coverage if Koger remains the management company
- Marshall to follow
up with Lawyers to review the new Koger contract
directed Koger to purchase fidelity insurance
directed Koger to contact vendor to ensure that
retention pond is cleaned in the second half of November.
Manson adjourned meeting at 8:22 pm. Sanjay Vakharia
seconded and Michael Noonan approved.
Minutes Submitted by: Sanjay
Approved by: BOD