Summary
The July 15, 2021 board packet was prepared by Association Partners, Inc. (API/Courtney O’Connor) for the regular board meeting held at John & Tony’s Restaurant at 7:30 p.m. The meeting was also the annual homeowner meeting. The packet is a 36-page scanned document covering the June 30, 2021 financials, homeowner AR aging, management report, fence staining vendor proposals, ARC activity, and violations log. Embedded April 8, 2021 meeting minutes were already ingested separately as minutes-2021-04-08.
The most significant data points in this packet are the confirmation that the 2021 annual assessment held flat at $320.02/unit (same as 2020) and that the 2021 reserve contribution was $7,000 — filling the gap between the 2020 adopted figures and the 2022 confirmed amounts.
Key Provisions
- 2021 annual assessment = $320.02/unit — unchanged from 2020. The income statement shows an owner assessment annual budget of $61,804.09 (operating) + $7,000 (reserve) = $68,804.09 total. $68,804.09 ÷ 215 units = $320.02/unit. AR aging entries for delinquent 2021 assessments confirm $320.02 per unit.
- 2021 reserve contribution = $7,000 — income statement shows HO Reserve Assessment budget and actual both at $7,000 for the year.
- June 30, 2021 balance sheet: Operating $72,862.13; Total Reserves $211,439.59 (Money Market $30,276.16 + CD-4383 mat. 5/2/2023 $75,260.46 + CD-3330 mat. 5/2/2022 $52,987.40 + CD-5236 mat. 3/2/2021 $52,915.57); Total Assets $297,482.93.
- CD note: CD-5236 (mat. 3/2/2021) still appears on the June 30, 2021 balance sheet at $52,915.57, suggesting it was reinvested upon maturity rather than liquidated. CD-4383 (mat. 5/2/2023) at $75,260.46 is new — likely the reinvestment of the two 2020 CDs (CD-3330 at $52,987.40 was one of those; CD-5236 may have been rolled into CD-4383 or remained separate).
- API management fee (2021): Annual budget $14,083; June 2021 actual $1,080/month. YTD through June: $7,041.48 (≈ $1,173/month average, suggesting some months were higher than the $1,080 June rate).
- AR aging (June 30, 2021): Total $13,228.10, comprising: Legal Chargeback 2020 $3,738.32; Delinquent Fee 2020 $575.00; Delinquent Fee 2021 $300.00; Delinquent Interest 2021 $530.73; Owner Assessment 2020 $4,243.79; Owner Assessment 2021 $3,840.26; PrePaid ($2,423.46).
- Cost share billing status: Invoices for the cost share were sent (pursuant to April 2021 Board authorization). As of July 15, 2021, no payments had been received. Confirmed in management report.
- Fence staining project (Rt. 59 privacy fence): Management obtained four quotes; two firms responded: Perfected Painting ($5,360, WoodRx sealer, 1 coat both sides) and Inside & Out ($8,079, 1,345 LF both sides, WoodRx sealer). AAA declined to submit; TJ’s Maintenance declined (no capacity). Board outcome to be found in minutes-2021-07-15.
- Hey & Associates: Performed the 2021 spring cleanup (confirmed in management report).
- Shared Landscape & Maintenance (cost share) income: $1,053.63 shown as YTD “Other Income” on income statement — likely partial cost-share payment received.
Topics Covered
hoa-annual-finances, assessment-structure, assessment-collection-policy, vendor-contracts, cost-share-arrangement, alterations-and-additions-process, violations-and-fines
Notable Details
- The embedded April 8, 2021 minutes confirm the same data already ingested in minutes-2021-04-08: Travelers Crime & Fidelity insurance at $482/year for $225,000 coverage; cost-share amounts approved (McColister $5,158.42, Ditch Witch $4,316.59, Condos $1,112.10).
- Violations log (page 36) shows four 1st warnings: unapproved porch addition (A&A violation), unapproved fence installation (A&A violation), and two trash/trash-can storage violations. Homeowner details redacted per Hard Rule 11.
- ARC approval: a fence at one Post Oak Circle address was approved — 5-foot fence installed as close to the back of the house as possible to accommodate a gutter. Cited as a “revised request,” indicating the original submission was modified. Address and owner details retained as routine A&A per Hard Rule 11 exception, but not elevated to topic level.
- The YTD “Shared Landscape & Maintenance Contribution” of $1,053.63 appearing on the income statement is notable — it represents cost-share income already collected by June 2021, predating the July 15 report that states invoices had not yet been paid. This may be a partial payment from one party or a timing difference in the accounting system.
- Home sales (6 transactions, January–June 2021) not ingested per revised standard.