January 9, 2025 OCIA Meeting Minutes

Oakmont Community improvement Association

BOARD MEETING MINUTES

January 9, 2025

The meeting was called to order at 5:28 pm by President Eric Franklin.

Present: Board members Eric Franklin, Ronnie Smith, Janet Weaver, Briam Forgey and Dale Moore were in attendance. Polly Rannells and Donnie Sherwood were present. Five members of the HOA were in attendance.

Absent: None

Amend/Approve Agenda: The agenda for the meeting was presented for review.

  • Motion: Janet Weaver moved and Dale Moore seconded to approve the agenda as submitted. All Board members voted in favor of the motion. Motion carried and the agenda approved.

Amend/Approve Meeting Minutes: The minutes of the December 12, 2024 meeting were presented for review

  • Motion: Dale Moore moved to waive reading of the minutes and approve the minutes as written Ronnie Smith seconded the motion. All board members voted in favor of the motion. Motion carried and minutes approved.

President’s Report

We met on 7 January to review an insurance policy proposal; the current carrier is dropping Oakmont due to the large claim that paid out after the May hailstorm. Eric stated that some of the numbers changed from our meeting. We were happy to get the new policy for about $5000 more than the last policy, we were expecting a much larger increase. Eric spoke about the wind/hail damage policy, the board opted to pay a higher premium to get a smaller deductible with a buy down provision.

Eric stated that we also had an executive board committee meeting on 7 January. Ronnie made a motion to accept the minutes as written, Brian seconded the motion, all members were in favor, motion passed.

Treasurer’s Report:
Janet Weaver gave the OCIA Treasurer’s report as follows: As of 12/31/2024, the checking account balance was $19,421.77 the R &R account balance was $622,434.44; Credit Card balance was 1,049.83, Camping Fees were $340.00; Facility Rental Fees were $495.00; Dock key deposit was $0.00, and Pop money was $59.23. See the OCIA Treasure’s Report herein attached and incorporated by reference to these minutes.

Maintenance/Development Report

  • Cleaned a bunch of leaves and ditches.
  • Rebuilt a pool pump
  • Put up holiday decorations and took them down,
  • Started to paint the bathrooms in the rec center
  • Worked to repair ceiling tiles.
  • The Colorado truck went down over the holidays, we need to get tires for one of the trucks, and then get it licensed.
  • Fixed the seat in the sauna.
  • Snow plowing, we’ve been asked not to plow the streets all night. Legally we can’t work more than 12 hours without a rest period. Both of us need to be here at the same time in case we get stuck the other person can come and pull us out.
  • Brian made a motion to get the GMC 2013 white truck back up and running to include new tires and registration, Janet seconded the motion. All members voted in favor, motion passed.

 

Administrative Report Polly Rannells

  • We’re still at approximately 83-85% of the assessments collected for a total of approximately $479,000.00
  • The demand letters, Kyle has heard back from two people through their lawyer. We now have a list of items that have been requested by other attorneys, that we are putting together to try and collect dues from those that haven’t been paying.

 

Old Business:

  • Policies and Procedures for review and/or approval – Three pending – Insurance, Banking/Investing, Paperwise Scanning. Eric is working on the Paperwise Scanning project.
    • Insurance – Still pending, work is progressing but not complete
    • Banking/Investing – Still pending
    • Paperwise Scanning – Still pending
  • Eric presented a draft policy for Financial Management and Retention, more work still needs to be done on this policy.
  • Eric has talked to Paperwise, and they have an enhanced product that would allow us to search all of our scanned documents.
  • The insurance claim has taken a lot of our time, and this has taken the back burner
  • Indexing and storage of past Board meeting minutes – status update – Eric is working on this project.
  • Eric is researching this project to see if the documents will become searchable.
  • Debbie is scanning all the old documents in.
  • Pickleball Court – currently we are focusing on the repair of the Oakmont Rec Center. We have three bids for the work to be done and will proceed later.
    • On hold while we work on the damage from the storm.
    • Still on hold until the repairs to the Rec Center have been completed
    • We’re looking at putting the pickleball court at the end of the building with the pool. There is lawn irrigation there that will have to be dealt with prior to the construction. Dig Right has been here to mark the utilities. We have several estimates to do the concrete. Brian Forgey made a motion that we start the work on the pickle ball court, Ronnie second the motion. All members were in favor, motion passed.
    • Donnie has removed the fence in the area we are planning. Irrigation lines will also have to be relocated so they aren’t under the court.
    • On hold due to weather.
  • Insurance Claim from the Memorial Day weekend hailstorm
    • We’ve worked with several different roofing companies for bids, these companies are primarily residential roofers. Today we met with two other companies that specialize in commercial roofing. The building is not currently leaking.
    • Waiting on one more bid, some of the companies have changed their bid. The roofs are not currently leaking. We are actively working this issue.
  • Gathering Contact Information for Oakmont Members
    • Janet came up with a form to send out to the members gathering contact information of the Oakmont membership. Discussion was held about trying to gather as many of the members as possible electronically. For those who are uncomfortable with this, we will also send it out with the yearly meeting notice
    • Janet created a form that will be sent out with the dues notices after the first of the year.
  • Quickbooks and Budget
    • Janet has looked at this and can now run reports for monthly and yearly comparisons. This system will be helpful in preparing our budgets. We will be able to see what we’ve spent and compare to what we have budgeted. Janet feels like she has made a lot of progress in the last month. This will allow us to be able to monitor our expenses better.
    • Janet will be doing the reconciliation of the accounts monthly using Quickbooks. This will help us have accurate balances monthly. We went over the budget and made some preliminary cuts to the budget. We are forecasting a budget of $500,000 based on dues collections, camping fees, and rental of the community center. We are projecting an increase in dues based on work done by previous boards. Janet made a motion that we accept the budget as presented, Brian seconded it. All members voted in favor, motion passed.
  • Misbilled assessments on multiple contiguous lots
    • In auditing our billing system we discovered that five people were not being billed correctly. They should be billed as two lots but are currently being billed as one lot. Eric feels that this was an Oakmont error and that we should not try to collect this from the families. A note will be placed in the file that if the lots are sold, then the error will be corrected. The financial impact is negligible. In addition, there are nine properties that are being billed for two lots but should be being billed as one. Eric would like to propose that we give these properties a credit for the overage.
    • We’ve made some mistakes in the past in billing. We have corrected the mistakes, with letters going out to the members explaining what happened.

 

New Business:

  • Oakmont vehicles
    • Ronnie stated that the Colorado can be fixed for about $1200.00, the tires are about a year old. A used engine will cost approximately $800.00, he is waiting on final figures. We have the ability to do this work in house.
  • Incinerator
    • Ronnie stated that he is looking at the possibility of building an incinerator to burn our trash saving money and wear/tear on Oakmont vehicles. We have all the necessary parts to make this in-house for minimal expense.
  • New Insurance policy –
    • Addressed and approved above
  • Interest Bearing Account
    • Eric is working with the banks to get our accounts in an interest-bearing account. He would like to propose that we move some of our money into CDs because they make more interest, the rest of the money could be put into a Money Market account making a nominal interest rate. Janet made a proposal that we take $300,000 into three different CDs, with the rest of the money going into a money market account, Dale seconded the motion. All members voted in favor, motion passed.
    • Janet motioned that we move $35,000 from SA account at Arvest to Central Bank account to cover our expenses until the annual dues start coming in later this year, Dale seconded the motion. All board members voted in favor, motion passed
  • New Corporate Transparency Act
    • This is a new policy where the government is trying to put limits on money laundering. Currently the policy is on hold due to litigation, but we need to keep on top of it and make sure we meet any deadlines that may happen.

 

Adjournment:

Motion: Ronnie Smith moved and Brian Forgey seconded to adjourn at 8:07 pm. All board members were in favor and the motion carried.

The next regular meeting is scheduled for February 13, 2025.

Respectfully submitted by Dale Moore, Secretary and approved on February 13, 2025.

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