Minutes of the Finance Committee Meeting

November 11, 2014

Present were: Tom Egan, Ron Marinoff, Denis Ford, Bob Schellenberg, Doug Charlton and Janice Cunningham.

The Committee went through the budget for 2015 and made adjustments where necessary fine tuning some items since the last Finance meeting. 

Bank CDs: A review of the Bank CDs will be made. 

Reserve Study: Tom Egan suggested doing a review of the latest Reserve Study to determine the amount needed to maintain the assets. Doug Charlton noted that the PIC has scheduled six specialists to come in and determine the current conditions of the assets around the pool area. 

Pasture Fences: It was determined that all pasture fence repairs should be capitalized. 

Basic TV Service: Changes were made to the TV category due to changes in TV Service costs. The Lucas Valley Cable contract ended. LVHA hired Herb Drake to maintain basic channels for six months. The Board is working with Dave Feingold to change the CC&Rs with an amendment no longer requiring LVHA to provide basic service. The TV costs are expected to go away after about June of next year. 

Payroll Tax and WC: Payroll Tax Expense and Workers Compensation Insurance were increased to cover increases due to hiring a cable TV maintenance person. 

Insurance: General Liability Insurance was increased to cover a raise in premium. The insurance for the HOA was completely overhauled four years ago. LVHA will check with their agent for a review. Bob Schellenberg suggested looking into higher coverage due to increased use of the pool via the new key fob entry system. Insurance covering horse pastures will be reviewed also. 

CSA 13: Ron Marinoff explained that CSA 13 was not in the Marin County Open Space District for the reason that the horse pastures would have been open to anyone in the County. He also noted that it keeps the trails off the Open Space District maps stating that only maintained trails are on the County Open Space District maps. It also gave us the ability to have the antennas at the upper head-end building. 

Social Committee Budget: Recommended maintaining same budget as last year. 

The budget will be presented to the Board prior to the November meeting for approval at the November meeting.