Professional Documents
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Meeting Notes Executive 17-SEPT-2008 WEB
Meeting Notes Executive 17-SEPT-2008 WEB
1. Opening
a. 7:00pm – Roll Call
i. Present: Brent Orton, Jim Porter, Jennifer Scott, Amanda Gigray, Karla
Baker
ii. Apologies: Alicia Brown
2. Business
a. Communications
i. Ms. Baker noted that the email communication was very large and asked
people to email on a specific thread, so a log of email communication
would be easier to follow.
ii. Discussion of communication with MGM
1. Motion/Action Item: Ms. Scott asked that we use the Stonegate
email address (stonegatesubdivision@gmail.com) instead of Ms.
Brown for all correspondence in care of Mr. Porter. Second: Ms.
Gigray. Vote: Unanimously approved.
b. Financial Matters
i. Banking
1. There is $3,057.73 that is not reflected on the balance sheet. In
discussing where to keep this money, several questions arose
a. Who is getting the bank statements?
b. Who is on the bank accounts?
c. How is MGM getting paid (Direct withdrawal?)?
2. It was discussed that we may need to change the names on the
accounts.
3. Action Item: Ms. Gigray said she would look into different banks
and their fees for our savings account.
ii. Past due collection strategy / Payment plan options
1. Several ideas were discussed of the structure of the payment plan
and the advice from MGM Management:
a. Send postdated checks? Auto-debit?
b. Minimum amount past due? $240, $120?
c. Board can wave interest if payment schedule is made
d. Payments: Minimum of $20/month or (X[amount due]/12
months)/month (whichever is greater)
e. Should rental properties not be offered the payment plan?
2. Action Item: Mr. Porter asked that Ms. Scott write up a payment
plan for Board approval at next meeting.
3. It was suggested that the newsletter include reminder of the
interest rate on past due accounts.
4. It was expressed that we need to get these past due accounts
settled so that we don’t have to levy new assessments.