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.
COUNTRY VILLAGE HOA
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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