Posted on December 6, 2021 at 4:40 PM
The CWV Annual Meeting took place on Friday, December 3, 2021 at the KK Event Center. There were four owners physically present, two attending via Zoom and two proxies submitted, so a quorum was achieved.
Foothills presented the state of our association, along with a snapshot of expected capital outlay for the next several years related to ongoing maintenance. Larger items would be roofing and exterior painting as expected expenses over the next few years.
These items have been taken into account in planning our reserves to help insure that we have ample funds in place when those jobs take place. Through diligence this year, we expect to finish 2021 with $37K transferred to reserve fund, boosting our ending reserve balance to just under $97K. This puts us in a much stronger position to hopefully fund necessary larger maintenance items without special assessments.
A 5% increase in regime fees was recommended by Foothills to cover the added inflationary cost of goods and services. This amount is lower than the rate of inflation for this area. Foothills kept their own management fees to a reasonable 2% increase. This regime fee increase is a decision that will be made by the 2022 BOD, but those in attendance agreed that it was an understandable and reasonable increase.
Although attendance was slim at this meeting, there were good discussions about budgets and ideas for moving forward. Members present offered good input in the discussions, which included plans for improved landscaping, with a volunteer committee to head that up. Other topics included additional web presence, and the potential for the association to take on responsibility for painting and repair of building fronts (porches/stairs) in the future for more cohesive curb appeal.
A new board of directors was elected for 2022, with Franck Boyton as President, Chris Nassor as Vice President, and Sherri Wangrin agreeing to remain on as an interim Secretary/Treasurer until a new person could be appointed. Anyone interested in serving in this position, please email email@example.com .
All in all, this has been a good year for Captains Walk as we have continued to build and solidify our financial position to stay strong for the future.
Your Board of Directors appreciates those who participated in our Annual Meeting and looks forward to a new year of building on our strengths together.
Happy Holidays to all!