Lake Hickory Condo Annual HOA Meeting May 21 2022

Lake Hickory Condo’s Annual Board Meeting May 21, 2022

Yadira, President called the meeting to order at 10am

Introduction of  the board members

• We are board of volunteers. Management company the dues will go up to 200-400 dollars.

Apology for the letters about the meeting not being sent out by the CPA

Announcement that Russell Pate, Treasurer would go over the budget for the majority of the meeting

After counting the owners by Scott Beck there was not enough for a Quorum so not votes could be done

This will just be informational meeting

Yadira talked about CPA/Lawyer issues and thoughts on getting new ones

As far as the community watch the Hickory City Officer Isenhour could not be present

Allen briefly spoke about the Pool/Lawncare

Pool cost $400 a month/ Lawncare $475 a month

Landscaping is by the hour as needed

Seeding of yard looks much better

The stigl pump as the bottom of the pool need to be replaced at a cost of $3500.00

Yadira mentioned the amount of money in reserve and that we have to keep a certain amount for new buyer to be approved

Erina talked about the car tags

We are waiting on 2 more sets from the tags before they can be handed out

2 tags per unit in windshield

Visitor tags will be required to be purchased if a visitor stays more than 10 days

List your vehicles on the website

$50 to replace lost tag

Yadira turned over the floor to Russell to talk about the budget at 10:45am

Russell talked about the cameras installed and showed everyone the views

Plan to add more cameras as needed

Russell put the budget on the tv- To get a break out the CPA would have to send

• Budget: 27000 in the checking account
• $18000 in reserve, 46.000 in accounts receivable, 9000 not payed in dues -2 major units,
• Last year over budget $56000 maintenance and repairs.
• $38000 in legal fees
• $ 19000 in loss.
• Collected $29000 more. Nevertheless still we are losing money.
• Putzers costly situation. Lawyer fees.

Yadira stepped in .

Joist and structural damage to be payed by HOA. Budget is not absorbing expense. Shed units to be replaced $18,000

Joist and deck will be removed- owner responsible for replacing deck.

Water damage and  emergency had to be done .

Money in the past year was spent on structural portion of back decks, painting, pressure washing

Discussed bylaws being revised so that every unit pays flat fee for dues and assessments

Pool Clubhouse and Dock need work

There will be a 10% increase in dues in 2023

Russell offered anyone who wants to join they board as a volunteer to let their interest known

Adjourned meeting at 12:30pm

After meeting Russell posted the budget online so that everyone can see it

• Putzer : During the meeting he was taking pictures of Allen and Allen asked him not to but he took more. Mr Putzer also confronted Scott and threatened him during the meeting. He also mouthed fowl language towards Yadira during the meeting. After the meeting Mr. Putzer approached Erina and Jamie and said “ You will be liable for me not being able to move into my apartment. I will sue every board member”. Erina told Mr Putzer he was threatening her.