Summary
PSI Management Report prepared for the May 14, 2020 Board of Directors Meeting — the first meeting held via Zoom due to the COVID-19 pandemic. All in-person meetings were suspended; virtual meetings continued until further notice. The packet covers the period since the November 14, 2019 meeting and contains the April 30, 2020 financial report, the Fisher Burton 2020–2022 landscape contract proposal (replacing Apex Landscaping), a CHEMCON Ltd. cost-share parcel research proposal, the contracts table, and the AR Aging report.
The embedded November 14, 2019 meeting minutes were already ingested as minutes-2019-11-14 and board-packet-2019-11-14; not re-processed here.
Key Provisions
- First Zoom meeting — COVID-19 pandemic forced all meetings to be held virtually. This is the first confirmed virtual board meeting in the ingested record.
- April 30, 2020 balance sheet: Operating checking $83,604.63; money market $12,446.09; three Barrington Bank CDs totaling $176,155.81; total cash $272,206.53; total current assets $285,000.25; AR $13,227.62 gross ($3,200 allowance); total reserves $186,416.02 (OC $10,483.40 + Replacement $175,932.62).
- CD restructuring confirmed: The $51,223.82 Barrington Bank CD at 1.95% that matured January 2, 2020 was split into two new CDs: $52,221.23 at 1.45% (matures 3/2/2021) and $52,221.23 at 1.60% (matures 5/2/2022). The $71,713.35 at 2.55% remains until 1/2/2021.
- Reserve balance decline: Reserves fell from $224,436.77 (October 31, 2019) to $186,416.02 (April 30, 2020) — a net decline of ~$38,020 despite the $6,725 YTD 2020 reserve contribution. The probable cause is the First Class Fence replacement ($42,360 approved November 2019) being drawn from reserve funds in late 2019/early 2020. First Class Fence does not appear in the April 2020 AP Aging or disbursements, suggesting it was paid before this period.
- YTD Income (through April 30, 2020): Assessment income $62,075.00 (vs. $62,080.09 budget; $5 under — essentially fully collected); reserve assessment $6,725.00 (exactly on budget); interest income $2,024.00; misc income $1,732.01 (late fees $925, landscape contribution $647.51, legal chargebacks $60, admin fee $79.50, document fees $20). Total income: $72,556.01.
- YTD Expenses (through April 30, 2020): Administrative $5,755.34 (well under $8,013 budget — timing); utilities $234.73; maintenance $4,898.30 (includes $1,500 Hey & Associates March pond payment, $3,398.30 Kramer Tree — paid April 2020); reserve transfer $6,725.00. Total expenses: $17,633.37.
- 2020 assessment independently confirmed at $320: The AR Aging shows “Annual Assessment $320.00” for numerous delinquent accounts, corroborating the $320.02/unit adopted rate billed as $320 on statements.
- Fisher Burton 2020–2022 contract proposed — replaces Apex Landscaping. All Common Areas per Schedule B map:
- 2020 (4/1/20–11/30/20): $1,685/month × 8 months = $13,480/season
- 2021 (4/1/21–11/30/21): $1,728/month × 8 months = $13,825/season
- 2022 (4/1/22–11/30/22): $1,765/month × 8 months = $14,120/season
- Additional: Rt. 59 detention monthly cleanup $350/year mow; spring wetlands and common area cleanup $550; Outlot 218 weekly mowing $90/month (included in monthly rate).
- CHEMCON Ltd. cost-share research proposal — CHEMCON has researched public records to document replatting history and parcel boundaries for the non-exclusive easement areas. Proposed cost: $7,200–$8,400 for reconnaissance of drainage patterns and storm drainage systems. Presented for Board approval. See cost-share-arrangement.
- AR Aging (April 30, 2020): Total $13,227.62 / 27 accounts. Two accounts “With Attorney KSN”: (1) one active eviction case, balance $5,074.18 (ongoing from 2019); (2) one prior-owner foreclosure (325 Hemlock Lane), balance $1,010.06. McCollisters (535 Shingle Oak Drive): $2,161.73 including $225.00 “Shared Maintenance” — earliest confirmed cost-share-related charge to McCollisters in the AR Aging. Standard delinquent account balance: Annual Assessment $320 + Late Fee $25 = $345. Homeowner details for delinquent residential accounts redacted per Hard Rule 11.
- Rollins Aquatic Solutions — full company name confirmed in contracts table (previously recorded as “Rollins”). Aerator service provider, ongoing contract.
- Contracts table (May 2020):
- Secretary of State (Annual Report): 6/2/2019–6/2/2020
- Cukierski & Cochran (Audit & Taxes): 2020 (annual)
- Fisher Burton (Landscape Maintenance): through 11/30/2022 (pending approval of new contract at this meeting)
- PSI (Management): through 4/30/2021
- State Farm (Insurance): 8/15/2019–8/15/2020
- Hey & Associates (Pond Maintenance): monthly
- Rollins Aquatic Solutions (Aerators): ongoing
- KSN (Legal): ongoing
Topics Covered
hoa-annual-finances, assessment-structure, vendor-contracts, cost-share-arrangement, assessment-collection-policy
Notable Details
- Traci Markland replaces Victoria Kritikos as PSI Assistant Manager. PSI team as of May 2020: Julie Maggio (Community Association Manager, CMCA), Brittany Kojzarek (COO, CMCA, AMS), Traci Markland (Assistant Manager).
- Kramer Tree payment timing: The Kramer Tree job ($3,398.30) approved in October/November 2019 was paid in April 2020 per the GL (“90607 - KRAMER TREE SPECIALISTS - TREE REMOVAL $3,398.30” on 4/16/2020). Invoice #90607 in AP Aging confirms.
- KSN still active in April 2020: $79.50 billed to KSN in April 2020 for the ongoing Mayuga collection case (GL: “1357028 - KOVITZ SHIFRIN NESBIT - MAYUGA $79.50”). This is 7 months after the original eviction was filed (9/16/2019).
- ARC — 229 Red Oak Court: Fence installation approved with conditions (April 22, 2020). Application described as “Fence to front of house due to retention wall” — the retention wall is the physical reason for the non-standard placement. This establishes a precedent that the board will approve front-of-house fence placement when a structural feature necessitates it.
- McCollisters “Shared Maintenance” charge predates April 2021: The formal Board-approved cost-share billing amounts were first confirmed in the April 8, 2021 minutes. However, the April 2020 AR Aging already shows McCollisters carrying a “Shared Maintenance” balance of $225.00 in the Over 90 bucket — suggesting some form of shared maintenance billing was occurring before the formal April 2021 authorization.
- Upcoming meeting dates (2020): July 16, 2020 (Annual Meeting); September 17, 2020; November 19, 2020 (Budget Meeting) — all to be held via Zoom.