Port Royale Annual Meeting

Sunday November 1, 2009

11:00 A.M.

Central Bank

Laurie, MO

Meeting was called to order at 11:00 A.M. by Judy Stites President.

13 people attend representing 10 condo

Wrap-up of past year:

1)      Caretaker change:  Shawn Crawford, backed up by his father, was awarded the contract this year and has been doing a very good job.

2)      New pool maintenance:  The pool was painted and the algae problem dealt with by Vaughan Pools.  Because of all the problems we decided to have them continue to do our maintenance.    We plan to reassess and are in the process of getting bids from other providers to make sure they stay competitive.  So far we have received 3 bids.

3)      Fixing of pool steps:  Striping and coping was put down to eliminate the accidents caused by slipping.

4)      Redoing the driveway (hill):  There were a few accidents (nobody was hurt) and so we had the sand application done from the top of the hill to the third garage.  Terry had the name of the company who did this work correctly; call him before any other work is done in the future.

5)      Numerous water line breaks under building 64:  This is getting fixed this week with the installation of new supports and pipes.

6)       Painting the lake side of all buildings:  This was completed this summer.

7)      Sign on docks with our 911 address:  The address sign has been posted on dock 2 so we are in compliance.

8)      Audit of the books:  Jim Alspaugh, headed the review effort with help from Joe Krashin and Rich Ballandby and Terry Heig’s great cooperation.  Everything looks good and the structure of Terry’s books made it easy to review.  It was suggested that the next board create a committee to determine the best way to proceed in the future for reviews and actual audits.

9)      Sprinkler System first annual inspection:  We found out that everything was not connected properly and there was no pressure on the top floors to handle any fire situation.  The company fixed the problems and we can now be assured that the sprinklers will work.  Approximate cost was $1700 and future inspections will cost about $400 per year.

10)    Other…Town Homes and incorporation of dues was discussed.  After many discussions the board decided that we could not come up with decisions on incorporation or dues/usage costs until Mr. Harrison actually makes a sale of land or town homes.  It was suggested that we need to have a formal legal review in order to have options thought out so we can be prepared for whatever is proposed.  The next board will handle this by forming a “legal“ review committee.

Upcoming issues:

1. Election to the Board:  Email voting was terminated this morning before the meeting.  15 families did not vote.  The new members are Bill Hopes, Marty O’Connor, and Lisa Stumpf.  The members who are still a part of the board are Jim Alspaugh and Jack Brown.  They will convene soon to determine who takes which job.  Terry will publish the outcome.
2. Budget approval and dues increase:  A discussion was held to review the new Fanny Mae rules, our need for higher maintenance amounts and the desire to not have to have any special assessments.  It was decided that each year the board will review the budget and make sure that we have the appropriate resources that are needed; adjustments can be made if necessary at that time.  The budget was approved by a vote of 32 to 4 as presented.  A motion was made and seconded to get Fidelity Insurance protection in the amount of at least $50,000 at a cost of $233.89 per year.  This protects the Homeowners Association from any of the officers of the board and the accountant from any theft/dishonesty.
3. DNR requirement:  We are to add a chlorinator to the septic system and have budgeted $5000 for this coming year to be in compliance.  We have to show a progress report by January 28^th and the work needs to be done by May of 2012.  We need to talk to our inspectors to make sure we are in compliance.
4. Other:  Dock upgrades will need to be done to make sure we cover safety (light covers and GFI switches) as well as to upgrade to current dock codes for electricity.  This work is not in the current budget and will come out of dock reserves.  Any personal increase to individual boats would be paid for by the individual.  Robin Smith suggested we formally submit a claim to the insurance company for the hail damage to Dock Roofs.  They don’t need replacing yet, but we should collect the money for the damage now.  This should not cause any increase to our insurance premiums.

The meeting was adjourned at 12:45

Respectfully submitted by secretary, Rosemary Garcia