Monthly Board of Directors Meeting

The Bay Tree Lakes Property Owners Association Board of Directors monthly meeting was held at the Bay Tree Lakes Clubhouse on Tuesday, July 8, 2008 at 7:00 pm. The following Board Members were present: John Shaw, Charles Massey, Charles Atkinson, Dennis Ford, and Roy Dew. Others present were Tish Herrmann, POA Clerk and POA Members: George Starke and Sonya Smith. Brooks Barwick was also in attendance representing Lake Creek Corporation.

President John Shaw called the meeting to order at 7:02 pm at which time everyone was welcomed to the meeting. President Shaw expressed his appreciation for everyone’s attendance.

At President Shaw’s request Dennis Ford gave the invocation.

President Shaw distributed the meeting agenda to all present. (Attached marked Exhibit A)

Approval of April 2008 Meeting Minutes (Attached market Exhibit B)

Secretary Dennis Ford presented the minutes for the prior month’s meeting. Charles Atkinson requested a correction for the June minutes to reflect the POA’s actual interest rate on the loan for the road resurfacing project as 5.70% and not the 5.80% reported.

Approval of Financial Report (Attached marked Exhibit C)

Charles Atkinson presented the prior month’s financial report.

Property Manager’s Report (Attached marked Exhibit D)

At Large Board Member and Property Manager Roy Dew presented the monthly report.

Clerk’s Report (Attached marked Exhibit E)

POA Clerk Tish Herrmann presented the monthly report to the Board.

In order to expedite the Board meetings, members reviewed all reports prior to the meeting. President Shaw asked for any comments or questions regarding any of the reports, there being none, a motion was made by Charles Massey and seconded by Charles Atkinson to approve all reports as presented. The motion was unanimously approved.

OLD BUSINESS

  1. Road Project:

Roger Wright could not make the meeting to give a verbal report on the progress so he sent a written report to the meeting for all members to see. This report will also be submitted with the minutes for members to view on the website. The report states that Wells Construction will be ready to pave the foot path by the 19 th of July. The exact date of paving will be decided by the day that the asphalt plant is operating. The plant is not open every day of the week due to maintenance. The primary paving project is complete on all roads in Bay Tree Lakes. We did convince Barnhill to resurface an area on South Horse Pen due to POA concerns over the thickness of the asphalt surface.

  1. Lewis Update:

Vice President Massey advised that Stephen and Michelle Lewis had the contract and asked their attorney to review it. This matter will be closed by the Board once the signatures are obtained and the document filed.

  1. Update on Accounting:

Treasurer Charles Atkinson advised that he would meet with Duncan Sessoms and determine the best option available to the POA and report back at the next meeting. Charles Atkinson advised that he would let the board members know when he was going to meet with Mr. Sessoms in case we wanted to join him.

  1. July 4 th Celebration Report:

Vice President Massey advised that the celebration was a success with no incidents to report. The fireworks were postponed one night due to extreme wind conditions on the advice of the Bay Tree Lakes Fire Department. A report from Lenox Harrelson (Cook) revealed that we had 88 hot dogs left. Thank you to everyone for assisting with the celebration and especially to the organizers of events. A special recognition is being considered for the organizers of each event on July 4 th.

 

NEW BUSINESS

  1. Insurance Review:

Charles Atkinson worked with the POA’s insurance agent, State Farm Agent Lisa Johnson and reviewed the insurance policy on the buildings and other property. Based on the review with the agent, a recommendation was made to increase the coverage’s to meet our current requirements and protect our investment. The recommended increases are for the Recreation Building, Cabana, Play Shelters, Electronic Gate, and Trailer Storage Fencing. The additional coverage’s are expected to increase our annual statement from $3438.00 to $4250.00 a year. This is an increase of approximately $812.00 a year. The board advised Charles Atkinson to proceed with obtaining the additional coverage’s and to report the final recommendation and estimates when possible.

  1. Grass Carp:

Property Manager Roy Dew advised that several property owners have approached him regarding the vegetation in the canals. The members are concerned that we do not have enough carp in the canals to keep the vegetation managed so boats can pass safety in the canals. Roy Dew discussed the possibility of placing more carp in the canals. The board asked Roy to get a professional opinion from the biologist we have used in the past. The biologist will return to our community on July 23, 2008 to access our current position with carp and to make recommendations if warranted. Roy Dew will report back to the board with a recommendation.

  1. Wake Board Tournament:

Lake Creek Corporation approached the board in June with information regarding a planned Wake Board Tournament that they want to hold in Bay Tree Lakes on July 26, 2008 and wanted the board to support the tournament. Brooks Barwick came to the board meeting to answer some questions the board previously asked and gave a brief presentation or overview of how the tournament would work.

Brooks Barwick advised that the tournament was a way to showcase the community and was not a sales event but an energy event. He said that the corporation did not plan to advertise a sales event but did plan to have a marketing group on site to show prospective buyers properties. Brooks Barwick went further to say:

  • The wake board tournament consists of a faith based outfit
  • The tournament will not be a point competition because it got started so late
  • The group likes to have repeat competitions at the same locations each year
  • The lake levels could be an issue since the boats that will be used have ballast that are filled lowering the boats in the water more than an average boat
  • The logistics are:
    • The ideal way to run the tournament would be for the riders to start from the end of the community pier, go to a buoy and circle back doing tricks to and from.
    • Then the next boat starts with the next rider and this continues
    • With the water level being low, the corporation may obtain a platform from Dave Myers and move out in the lake as a staging area and use a large pontoon boat to stage folks
    • The tournament will have age classes of participants
  • Brooks Barwick stated that they expected :
    • 100 cars
    • At least 2 boats in the water
    • 75-80 competitors
    • 250-300 guests
    • There may be food vendors on the property selling hot dogs
    • He wanted to park cars across from the clubhouse and then park them on the side of the road.
    • He expected sponsor flags to be put up. Sponsors will be on site to showcase their products. Possible sponsors mentioned were:
      • Overton’s
      • White Lake Marina with several boats on display
  • Brooks Barwick advised that the time for the tournament was set for 9:00 AM to 4:00 PM.
  • Brooks Barwick also stated that we would need to open the gates to the public all day so people coming to watch the tournament could come and go. He advised that a lot of people from White Lake and surrounding areas might attend the event. He also wanted to remove the gate arm on the exit.
  • Brooks Barwick advised that they would have an insurance policy that would hold the community harmless in the event of an accident but he did not know the limits of the policy.

Charles Atkinson asked how the tournament would benefit the property owners. Brooks Barwick said the tournament would provide energy and excitement getting people in here and they might want to stay by purchasing property. He said that the sales would help the property values.

Charles Massey had questions about the water depth and the fact that the lake is not a safe place to run a boat right now. Charles Massey asked if the corporation had been out in the lake checking the water depth and Brooks Barwick advised that they had not to his knowledge.

Dennis Ford asked Brooks Barwick what he needed from the board. Brooks Barwick stated that the corporation wanted the support of the POA board to have the competition.

Brooks Barwick said that the corporation would follow up on the water level issue.

The POA board did not make a decision or recommendation on this issue at the meeting.

  1. Committees:

Election Procedures – Chair Roger Wright
Roger Wright was unable to attend the board meeting because of a sudden change in his schedule that he could not correct. However, Roger Wright submitted a letter to the board detailing some of his ideas on the election procedures. The board reviewed the information as a start to get our ideas together and will further discuss at the next meeting in August.

Architectural Committee
The board is still looking for people to work on this committee. Chris Pack had previously advised Roy Dew that he would be willing to serve on a committee. Chris Pack will be asked to serve and the board will discuss this committee further at the next board meeting.

  1. Member Requests:

Sonya Smith appeared before the board with requests from several moms she advised she was representing. Sonya advised that the play sand is very hard when it is wet and very dusty and dirty when it is dry. She asked the board to consider replacing the sand.

Sonja Smith also requested the board to consider building a shelter near the swimming area that is between the pine trees near the clubhouse and the water. She advised that moms that try to stay out of the sun and stay under the trees for shade have a very long way to go to the water to help a child if a problem occurs.

Sonja Smith requested the board to put an ice machine in the recreation room so members with card access can get ice. Roy Dew advised that the ice machine was moved out of the screen porch area because of sanitary issues and that its primary purpose was for members to use when renting the club house.

Sonja Smith also stated that she and a lot of other members recently talked about the availability of a swimming pool at Bay Tree. She asked if the board had considered building a community pool. Sonya Smith did say that she did not want these projects to make her dues go up. The board advised Sonja Smith that we appreciated her attendance at the meeting and that we would consider and look into her requests but that our primary focus at the present time was on the road resurfacing. The board explained that we have a 5 year Capital Improvements Budget and all major expenditures are in the plan and that some of those have already been moved back a year or two to facilitate the paving project.

Roy Dew advised that the board hires maintenance personnel to cut the grass around the children’s play area and to rake the sand area. Roy advised that a good portion of the time the personnel spend unnecessary and wasted time picking up children’s toys that are left on the site all of the time. Roy Dew advised that the member leaving the toys should be asked to remove them each day when they leave the children’s play area as a courtesy to all members and folks using the area. The board agreed and asked Secretary Dennis Ford to send a letter to the homeowner with the request.

Executive Session:

All Property Owner Association Members were dismissed and the board went into Executive Session at 8:40 pm. This session was held to discuss private matters, which could result in future potential legal actions by the board. The Executive Session adjourned at 9:02 pm by unanimous consent of all members and the board continued it’s meeting at the end of the executive session.

Board Meeting Resumes:

With there being no other business, a motion was made by Charles Atkinson and seconded by Dennis Ford to adjourn. Motion unanimously passed. Meeting adjourned at 9:05 pm.

Respectfully submitted,
Dennis C. Ford
Secretary
Bay Tree Lakes POA

 

POA Board Meeting
July 08, 2008

Welcome --------------------------------------------------------------------------- John Shaw

Invocation -------------------------------------------------------------------------- Dennis Ford Consent Agenda Items & Discussion

Minutes June 10, 2008

Treasurer's Report

Property Manager's Report

Clerk's Report

Old Business

  • Road Project ---------------------------------------------------------------Roger Wright
  • Lewis Update ------------------------------------------------------------- Charles Massey
  • Update On Accounting ---------------------------------------------------- Charles Atkinson
  • July 4 th Celebration Report------------------------------------------------ Charles Massey

New Business:

  • Insurance Review ------------------------------------------------------------ Charles Atkins
  • Grass Carp -------------------------------------------------------------------Roy Dew
  • Wake Board Tournament----------------------------------------------------- Board
  • Committees -------------------------------------------------------------------Board
  • Election Procedures Chair Roger Wright
  • Architectural Committee

Executive Session:

Adjourn:

 

 
Monthly Financial Summary 2008 Bay Tree Lakes Property Owners Association
Jan
Feb
Mar
Apr
May
Jun
YTD Total
YTD
Budget
Variance
Monthly
Budge
INCOME
Dues $33,203 $5,390 $8,294 $30,474.30 $7,306.47 $3,878.94 $88,547 $78,300 $10,247 $13,050
Roads $13,374 $2,070

$3,312

$12,060.00

$2,808.00

$1,530.00

$36,164

$31,320

$3,834

$5,220

Gate Access (Cards/Stickers) $140 $70

$100

$505.00

$200.00

$70.00

$1,085

$500

$586

$83
Club House Rental $ - $800

$200

$200.00

$200.00

$800.00

$2,200

$1,200

$1,000

$200

Interest $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Key Deposits Trailer Storage

$375.00

$175.00

$75.00

$625

$ -

Contractor Deposits (gate access) $ - $500

$250

$750.00

$500.00

$500.00

$2,500

$1,250

$1,250

$208

Miscellaneous $20 $ -

$10

$15.00

$20.00

$225.00

$290

$300

($10)

$50

Total Income $46,737 $8,830

$12,168

$44,379.30

$11,209.47

$7,078.94

$130,401

$112,870

$17,531

$18,812

EXPENSES
Wages and Salaries $1,500 $1,000

$1,000

$2,071.10

$1,250.00

$2,440.00

$9,261

$8,750

$511

$1,458

Building Repairs $1,220 $1,282

$ -

$229.98

$ -

$110.04

$2,842

$2,300

$542

$383

Grounds Maintenance $ - $ -

$245

$1,496.15

$5,564.13

$675.00

$7,980

$4,750

$3,230

$792

Utilities $459 $735

$511

$356.71

$443.41

$607.38

$3,112

$5,250

($2,138)

$875

Insurance $ - $ -

$ -

$ -

$4,087.64

$ -

$4,088

$2,250

$1,838

$375

Maintenance $144 $144

$444

$229.00

$194.00

$234.00

$1,389

$7,200

($5,811)

$1,200

Office $382 $460

$376

$714.53

$310.11

$294.54

$2,537

$2,500

$37

$417

Legal and Professional Services (fees) $ - $ -

$ -

$37.50

$632.50

$500.00

$1,170

$ -

$1,170

$ -

Member Events $ - $ -

$ -

$ -

$ -

$ -

$ -

$1,800

($1,800)

$300

Taxes $ - $ -

$4,551

$ -

$ -

$ -

s 4,551

$1,000

$3,551

$167

Refunds $ - $ -

$ -

$ -

$ -

$ -

$ -

$1,250

($1,250)

$208

BTVFD Contributions $ - $ -

$ -

$ -

$ -

$ -

$ -

$750

($750)

$125

Miscellaneous $636 $ -

$624

$ -

$150.00

$58.49

$1,468

$2,500

($1,032)

$417

Total Operating Expenses $4,340 $3,621

$7,751

$5,134.97

$12,631.79

$4,919.45

$38,399

$40,300

($1,901)

$6,717

Capital Project Expenditures $23,050 $ -

$14,250

$28.81

$ -

$613.28

$37,942

$20,000

$17,942

$3,333

Other Projects $231 $141

$75

$ -

$ -

$4,499.80

$4,947

$7,000

($2,053)

$1,167

Total Expenses $27,620.95 $3,762.55

$22,076

$6,163.78

$12,631.79

$10,032.53

$81,288

$67,300

$13,988

$11,217

Operating Profit/Loss

$42,397

$6,209

$4,416

$39,244.33

$(1,422.32)

$2,169.49

$92,002

$72,570

$19,432

$12,095

Total Profit/Loss

$19,116

$6,067

$(9,910)

$39,215.52

$(1,422.32)

$(2,953.59)

$49,113

$45,570

$3,543

$3,543

Funds Transfer

$ -

$36,000

$ -

$ -

$ -

$ -

 

Operating Cash

$69,491

$39,559

$29,649

$68,856.76

$66,249.48

$63,336.56

       

Money Market Account

$18,916

$64,028

$64,147

$54,246.50

$54,337.97

$54,426

       

Investment Account

$164,343

$149,580

$150,787

$157,992.98

Transferred

Account closed

       

Certificates of Depoist

$100,000

$102,490

$102,490

$102,490.39

Transferred

Account Closed

       

Total

$342,750

$345,657

$337,053

$383,584.63

$120,587.45

$117,762.79

       
First Citizens Bank Road Account Opened May 19, 2008            

Transferred from Investment Account

$157,456.09

     

Transferred from certificates of Deposit

$102,490.39

     

Received From Lake Creek Corporation

$60,000.00

     

Total

$319,946.48

$319,946.48

$319,946.48

     

Bad Check Charge for Corporation Contribution

($6.00)

      

Purchase Check Book and Checks

($74.69)

     

Wells Brothers Construction

($191,396.93)

     
Balance of Construction Account at First Citizens       $128,468.86      
Grand Total All Funds      

$440,533.93

$437,709.27

       

 

Property Managers Report - Exhibit D

Clubhouse:

  • Repaired A/C unit on the west end of the clubhouse
  • Purchased janitorial supplies for clubhouse and cabana

Boatlift:

  • Completed work on the boatlift where adjustments can be made different for the canal to the lake.

Entrance Gates:

  • The Corp. did some landscaping
  • Still no work on the building
  • Two contractor numbers have been closed out
  • David Grice Const.
  • Gary Naylor Const.

Lot Mowing

  • The 48 lots have been mowed

Trailer Storage Area:

  • The area is at about 75% of it’s capacity.

 

Clerk’s Report for July Exhibit E  
       

Lots reported Sold
There were no lots reported sold during June of 2008

Dues
Outstanding Balance June 30, 2008: -----$18,652.87
Credit Balance June 30, 2008: -------------5,642.74

Third Quarter
Dues July 1, 2008 -----------------------$54,873.00
(435.5 lots)

Interest July 1, 2008 ------------------------- 517.28

Total Due July 1, 2008 ------------------ $74,043.15
Credited ----------------------------------- 3,090.85
Total Billed July 1, 2008 -----------------$70,952.30

 

Street Project Update July 9, 2008

  • Foot Path Time Line
    • Graded and ready to pave by 7-19-08.
      • Crushed rock is being hauled from Benson.
      • Grading tedious because of narrow width.
        • Small equipment required.
  • Paving planned for week of 7-22-08
      • Paving will be contingent upon the asphalt plant being open.
        • Barnhill out of Clinton does not keep the plant open continuously and for this reason Terry will schedule paving when the plant is open and asphalt available.
          • Paving may drift a day or so because of asphalt availability.
  • Cul-De-Sacs
    • Terry has these on his “to do” list and will most likely grade from pavement to a short pipe that will allow water to flow into canal.
      • Pipe will prevent erosion.
        • Terry will fine tune when he starts this proces
  • Other issues/Problems
    • Terry indicates from his vantage point the process is flowing well and he does not know of or anticipate any pinch points.
  • SUMMARY: Terry is keenly aware of the task required to finish this project and is confident that he has the capability to accomplish to our satisfaction.
    • It appears that he has slowed his “pace” a bit and this most likely is because he no longer feels the pressure of “Barnhill” needing to get in and complete the paving task by the end of June. It is important to state that his current pace is not unreasonable and from my stand point is not likely to be a problem---it simply means that we need to plan on construction continuing for another two to three weeks, perhaps a bit longer***.
***Asphalt availability

 


Last Update: July 25, 2008

Bay Tree Lakes Property Owners Association, Inc.
640 Bay Tree Drive
Harrells, NC 28444