Dellwood Heights HOA

Minutes From Annual Meeting 1/25/05

May 17, 2005

In attendance: 18 homeowners, 9 proxies. A quorum of 20% of homeowners was established.

The meeting was called to order at 6:55 pm by DHHA President, Elissa Blesch.

Approval of minutes from last year: no changes were recommended and the minutes were approved.
Introduction of Board Members, Committee Chairpeople and Property Manager. An overview of the work Renee Lingk has done for DHHA. She discovered the taxes have been misfiled for many years using the wrong form and has corrected that. Re-instated insurance coverage for board members that was allowed to lapse by All Property Services as well as re-instated DHHA as a non profit organization also due to an error by All Property Services.

Discussion of Proposed Budget: It was recommended by one of the homeowners that a year long financial report be sent out with the next newsletter. Renee Lingk (property manager) had ready all the information the homeowner wanted to review. In the future a year end financial statement will be sent out with the annual meeting notification.

There was some discussion about the amount of money DHHA has in a CD (20,000). One homeowner feels this is too much and some should be given back to the homeowners. One homeowner felt it should be cut in half. The majority of people say keep the money as it is. There was another suggestion to cap DHHA income at $20,000. This led to the question of what is a reasonable amount to keep available for an HOA. It was proposed that the Board Members research this and come up with a cap and present it to the association for approval. All were in agreement that the Board should get back to the association members with a recommendation.

The proposed budget was approved.

Committee Reports: (committee reports were sent out in writing with the meeting notification). Questions were welcomed for all committees. Only one question was raised regarding the condition of the sprinkler / drip system in the open space. It was mentioned that there are too many holes for it to work. Brian D?¡?¦Agostino (chairperson of the open space) said he would try to locate the map for the system and investigate.

Revise Covenant and By Laws Project: Elissa would like to update and revise DHHA current convents and by laws. She asked for volunteers. Bob Sullivan and Donna Burrill volunteered. Elissa said she would contact them after the meeting to begin the process.

New Secretary: This position is now open. No volunteers.

New Business: It was suggested that the swing in the open space be put back up. There were some concerns as to where it should go for safety reasons. Brian D?¡?¦Agostino said he would look into it.

Door Prizes: Two lucky homeowners went home with a gift certificate from Mary?¡?¦s Mountain Cookies and Rocky Mountain Chocolate Factory. ???º

Meeting Adjourned