Country Village Homeowners Association

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Friday, September 18, 2015

July 2015 Board Minutes

BOARD:  Max Roe, Betty Shaw, Sharon Eichmann, Steve Fulkerson, Roni Coleman

MANAGEMENT:  Larry Edwards, Susan Keene

HOMEOWNERS:  Jim Vernon, Kathy Messer, Pat Alexander, Karen Crowe, Loma Chan, Forrest McClure

GUESTS:  Scott Kirkpatrick and Clarence Amayan of Mahler & Company Accounting

The Country Village Board met on July 13, 2015, at The Harrison.

     Roni Coleman had invited Mr. Mahler to speak with the Board about getting ready for an audit.  Because of a death in the family, Mr. Mahler asked Scott Kirkpatrick and Clarence Amayan to handle the presentation.  Scott Fitzgerald gave a background of the company located on the north side of Indianapolis.  He stated that he felt a compilation report would be best for Country Village.  The Country Village gross revenue is small enough to support a compilation.  The compilation would cost approximately $2,500 and would include an independent accountant’s report.  The Accounts Receivable would also be included in a compilation report.  If the CPA found any irregularities, he could recommend an audit.  This is a much more thorough report that would include contacting vendors and matching invoices.  The audit could cost from $7,500-$10,000, and Mahler & Company would have to recommend an auditing firm since they are not licensed as auditors.  The time for a compilation report could be four to six weeks with the audit much longer.  The Board thanked the gentlemen for providing he information.
     The Board discussed including money for an audit and/or compilation in the 2016 budget.  Forrest McClure asked for the budgets from 2006-2009.  The board told him that they would have PSG provide 2013-2015.  It was explained that the Indiana legislature passed a comprehensive law regarding HOA’s that went into effect on July 1, 2015.  One provision stated that HOA’s need only go back two years to provide financials.  Steve Fulkerson volunteered to give those budgets to Forrest since he keeps all his records.
     Pat Alexander requested that the Board be larger by adding extra members.  The board said that the documents provided for as few as three and as many as nine.  Pat stated that other people wanted to be on the Board, and they should be allowed.  She made a motion that the Board be expanded to seven members.  The motion was ruled out of order.  First, the Board will take the expansion under advisement but this was not the forum for electing extra members.  Second, a quorum must be established at any Annual or Special meeting before any election can take place.  A quorum is 50% plus 1 or 55 homeowners.
     Susan told the attending homeowners that the 2015 minutes and financials would be on the web site by the end of July.

The homeowners were thanked for attending.  The next Board meeting will be Monday, August 10, 2015.

July 2015 Minutes
Executive Session

The June minutes were reviewed.  Roni Coleman asked for the following changes:
   Replace “document” with By-laws
   Add “all areas of the documents”
   Include the vote for the Article 6 recertification (3-1)
   Delete the top homeowner list.
The amended June minutes were approved. (Fulkerson-Shaw)

The June financials and accounts receivable were reviewed.

The 2016 budget work will begin in September.  The Board and Management must discuss the priorities for next year in order to budget appropriately.  Homeowners at the Annual Meeting will be asked to vote for the 2016 budget as presented.  Let’s hope we can get a quorum on the first try.

The meeting was adjourned.
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