Wyngate Commons HOA – Board Meeting Minutes

Agenda Items:

1) Discuss Financial Matters

a) Year-to-date expenses are outpacing income by approximately $11K; reasons include:

i) Higher than expected snow removal

ii) Unexpected cost overruns to repair landscaping issues

iii) Higher than expected delinquency in HOA dues

b) Need to conserve cash wherever possible

c) Approved new form to accompany all Expense Approvals and Reimbursement Requests

d) Established new Delinquent dues policies

i) Homeowners that have 3 months or more of delinquent dues will be subject to collection process, including but not limited to a lien being placed on home

ii) Administrative fee of $435 to be added when a lien is set, in order to offset administrative costs associated with collection

2) Community letter from the Board announcing website, alterations to rules, etc. to be drafted by Jennifer Ross

3) Members in attendance continued to work on the revision of content and policies posted on the Website (www.wyngatecommons.com)

Notes:

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