OAK PARK LEISURE GARDENS

BOARD OF DIRECTORS MEETING MINUTES

October 5, 2021

OPLG Clubhouse

 

*****NEXT MEETING*****

BOARD MEETING: December7 , 2021, 5:00 p.m.

 

The general meeting of the Members of Oak Park Leisure Gardens was held on the above date, at 5:00 p.m. The meeting was held at the Clubhouse. Joseph Rutherford was present from The Management Trust. The following Board Members were present in person at the Oak Park Leisure Gardens Clubhouse.

 

Christine Strasser

James Burns

Ron Schram

Tom Talbert

John Elfers

 

1.   CALL TO ORDER

The meeting was called to order at 5:00 p.m. with a flag salute. It was established that only owners of an OPLG unit were present.

 

2.  APPROVAL OF MEETING MINUTES

There was a MOTION (Tom Talbert) and a SECOND (Chris Strasser) to approve the meeting minutes from the Board of Directors Meeting of August 10, 2021 as submitted. ALL IN FAVOR, MOTION PASSED.

 

3. OPEN FORUM

There were no comments or questions in the Open Forum.

 

4. BUDGET REPORT

            A. Financial Report/Operating Reserve

The Board reviewed the current financial statements. Reserves for OPLG were at $520,000.00 as of July 31, 2021. The Operations Account was at $4,819.59. At the December meeting the Board will approve the monthly budgets from April to September when the new accounting system is caught up.

B. The Association currently has $212,589.00 in CDs at Edward Jones. Joseph will investigate the status of the CD at Pacific Western to see when it comes due. The intention is to move that CD into Edward Jones to consolidate CD funding.

 

5.  MANAGER’S REPORT

A. Joseph Rutherford reviewed the status of dues. Two owners are delinquent $180.12.

 

6. NEW AND ONGOING BUSINESS

 

A. Rodents in the Complex: Rodent extermination boxes have been installed around the complex. There was one report of a rodent on Meadow Way.

 

B. Appoint Insurance Renewal Ad Hoc Committee: It is anticipated that there will be a significant increase in the cost of insurance for 2022. The Board opted not to appoint an ad hoc committee. There was a MOTION (Ron Schram) and a SECOND (James Burns) to approve a 12% increase in insurance costs not to exceed $42,000.00. If the cost is more, the Board will convene a special meeting to discuss that line item. ALL IN FAVOR, MOTION PASSED.

 

C. 2022 Reserve Funding Plan:  The Board discussed the Reserve Funding Plan prepared by the Management Trust. After some discussion the Board decided to maintain the current level of funding and revisit the reserves in another year. There was a MOTION (Chris Strasser) and a SECOND (Tom Talbert) keep the annual reserve amount to $109,414.00 for 2022. ALL IN FAVOR, MOTION PASSED.

 

D. 2022 Budget: The Board reviewed the proposed budget for 2022. The operating budget will likely have a shortfall at the current funding level. The Board opted not to raise dues for 2021 to maintain the current dues structure. This year, in order to maintain a balanced budget with anticipated increased costs, the Board opted to raise the dues $5.00 per month for 2022. A notice will go out to owners before the end of 2021. There was a MOTION (James Burns) and a SECOND (Ron Schram) to approve a budget of $259.740.00 for year 2022. ALL IN FAVOR, MOTION PASSED.

 

E. Assessment of Reserve Funding Disclosure Summary. The Board reviewed the language of the disclosure summary to go to owners for 2022. There was a MOTION (Chris Strasser) and a SECOND (Tom Talbert) to approve the Assessment of Reserve Funding Disclosure Summary as submitted. ALL IN FAVOR, MOTION PASSED.

 

F. State Mandated Annual Disclosures: There was a MOTION (Tom Talbert) and a SECOND (Ron Schram) to approve the State Mandated Annual Disclosures as submitted. ALL IN FAVOR, MOTION PASSED

 

 

7. COMMITTEE REPORTS

A. Architectural Review and Exterior Maintenance Committee:

 

1. No Applications were received during the period.

 

B. Landscape and Grounds Committee:

• Tree Removal: Several trees were removed on September 13 & 14.

• Several asphalt depressions in the streets were repaired in early September.

 

C. Clubhouse Committee:

• The Clubhouse was reopened and has been back in use.

 

9.  MEETING ADJOURNED

There was a MOTION (Chris Strasser) and a SECOND (James Burns) to adjourn the meeting. ALL IN FAVOR, MOTION PASSED. The meeting was adjourned at 6:12 p.m.

 

10. MEETING CALENDAR: December 7, 2021. Meetings will be held at 5:00 p.m. at the Clubhouse.