Carrington's 2018 Board of Directors - Homeowners should notify Community Association Management ("CAM") directly with any comments or concerns.  

President - Rick Fiegel
Treasurer - Craig Tramontano
Secretary - Theresa Myers
At Large - Frank Osborn, Carol Kendrick, John Cassese, Wayne Gregory

 

 

Minutes of Carrington Homeowners Association Board Meeting

January 20, 2018 (4:00pm – 4:55pm)

Craig Tramontano – Board Member

Rick Fiegel – Board Member

Frank Osborn – Board Member

Wayne Gregory – Board Member

Theresa Myers – Board Member

Dianne Rippe – Community Association Management

Nine Carrington Community Residents

 

Meeting Called to Order

  • o   Board Members introduced themselves and stated current roles
  • o   Craig announced Rick would be assuming role of President at conclusion of meeting

 

Financials – 2017 Results:

  • ·       Reviewed year to date actual 2017 results compared to Plan – Strong Operational Year
    • o   Revenue of $209k - $17k favorable to plan
      • §  General assessments flat since 2013 due to no annual increase in dues
      • §  Swim memberships have grown to $66k 2017 from $37k in 2013 - Strong Memberships
        • Ø  Approximately 125 members @ $535/member.
        • Ø  No marketing done for memberships since 125 is a good number of outside members
        • Ø  There were 20 referrals in 2017
        • §  Partner fee rentals up $11k over plan – Partner Relationships are Good
          • Ø  New South partnership strong and expected to continue
          • Ø  3 schools also renting, with funds being split 50/50 with New South (approx. $4k to each)
          • Ø  Tennis rental with Sherma yields approx. $4,500/yr
          • Ø  Camp Casey outside Clubhouse rentals approx. $6k/yr.  No damage issues incurred to date with clubhouse rentals but will continue to track to ensure benefits outweigh risk.
  • o   Operating Expenses of $186k - $6k favorable to plan.
    • §  Reserve - $60k contributed in 2017
    • §  Pool Amenities – approx. $26k is for lifeguards
    • §  Building & Grounds - $2,100 / month is for grounds maintenance
    • §  Administration/Taxes – CAM fees approx. $1k/month.  Approx. $3k in taxes and return preparation
    • §  Clubhouse Amenities – chairs & maintenance and cameras are largest part of spend
    • §  Tennis Amenities – nothing spent in 2017
    • §  Social Activities – spend exceeded plan due to events being catered in 2017 vs. homeowners grilling on site, Octoberfest celebration and extra tailgate event was unplanned.
  • o   Net Income results - $23k favorable to a plan of $0.
  • o   Cash reserve currently @ $38k
    • §  Began year at $46k
    • §  Net spend of $8k in 2017 for debt service, clubhouse maintenance, and partial spend on tennis bathroom addition.
    • §  Goal to always maintain a $20-$25k balance in reserve
  • o   Debt balance at end of 2017 is $138k.
    • §  Expected 6 yr payoff on 10 yr debt
  • o   Operating Fund – $30k current balance.  Will apply $20k to debt reduction.

2018 Budget Review:

  • ·       Anticipate a strong year
  • ·       Revenue of $197k.  Reduction of $12k from 2017 actual.  Budgeting conservative on Partner/Rental fees and Swim/Club memberships.
  • ·       Revenue budget is 197k, but our goal is to achieve $200k - $210k.
  • ·       Operating Expenses increase of $11k, primarily due to planned increase in reserve contribution, clubhouse, and tennis amenities in 2018.

 

Upfit Projects in Process & Largest Potential Costs that Could Come:

  • ·       $5k was spent on tennis & bathroom addition in 2017
  • ·       Expecting to spend additional $10k on bathroom addition and tennis court resurfacing in 2018 to finalize projects.  No cameras in back where tennis courts are.
  • ·       New neighborhood garden led by
  • ·      
  • ·       Discussed landscaping barrier from Hwy 51 in front of clubhouse.   Would be a good sound barrier for residents that live along Hwy 51.  No cost estimate yet.

 

Questions/Issues/Concerns raised by Residents:

  • ·       Member noted constant traffic with clubhouse – Craig stated no issues to date, but would continue to monitor benefits of rentals vs income received.  Rentals pay for our annual debt interest.
  • ·       Litter in the parking lot from Swim – Craig to reach out New South regarding cleaning up after themselves
  • ·       Once we pay off debt, money will go to reserve and will be begin to owe taxes?  Craig stated we would see what our situation is in 2020 when debt is expected to be paid off.  It will depend on what kind of up-fit costs would be needed at that time.
  • ·       Lighting not good throughout neighborhood
    • o   Diane explained Duke Energy has a website that is easy to use with a quick response.  Suggested residents report street lighting outages utilizing that site.
    • o   Rick to include this information in next resident communication to encourage timely resolution of lighting outages
    • ·       Continued issues with speeding and running stop signs – we will continue to monitor
    • ·       Bricks are starting to pop off of wall post – Craig to evaluate issue
    • ·       What is timeframe for street resurfacing?
      • o   Seeing large cracks and is concerned about expanding with water getting into cracks.
      • o   Was last done over 10 years ago
      • o   Diane to push issues with City
    • ·       What will happen with Mrs. Carrington’s property – we don’t know her intentions
    • ·       During Pool season could we have somebody come in and tidy up regularly – board to evaluate options
    • ·       Lifeguards are chatting a lot.  Concerned they are not watching pool as attentively as they should.
      • o   Diane said If we see a problem with them, report it to CAM and they will stay on top of them
    • ·       Do we have a list of homes with alarms that are not connected to alarm company system?  Incident where homeowner had alarm but was away for long period.  Alarm continued to sound for days.  Asked if board could send out notification asking residents to leave emergency contacts with neighbors if going to be away.

 

Safety:

  • ·       Craig reminded residents not to leave items in your car at night and do not leave garage door open
  • ·       Resident stated repeatedly seeing Honda accord with SC license tag with 2 young males late at night driving around neighborhood

President Transition:

  • ·       Vote of thanks and open applause given to Craig for his many years of service as President.  Craig to remain as Treasurer.
  • ·       Rick assumed President’s role and will send out email with contact information
  • ·       Dianne reminded all that contact information is on the Carrington website
  • ·       Rick announced he will be reaching out to community for help on the social committee, specifically needing those with young kids since that is who most of the activities are geared towards.

 

Meeting Adjourned