MERIDIAN VALLEY MAINTENANCE ASSOCIATION

MONTHLY BOARD MEETING MINUTES

January 5, 2011

 

CALLED TO ORDER BY PRESIDENT Bill McLaughlin at 5:00 p.m. at his home.

 

ATTENDANCE:  Bill McLaughlin, Jan Lewis, Dale Mjelde, Mike Rucker, Frank Wisdom, Barb Farley, Bob Steiner, Brian Applebury, and Cheryl Havener

Guest: Jim Schack  

 

PREVIOUS MEETING MINUTES:  Approved as written

 

TREASURER’S REPORT:  Mike Rucker

  • Copies provided of the 2011 MVMA budget; month-by-month for the year and December budget vs. actuals.
  • Previously gave Bob Steiner a copy of the 2011 MVMA budget, as approved at the annual meeting, to be posted on the website. 
  • Received a recommendation from Jim Shack for rebalancing the investment account.  The recommendation compares favorably with the MVMA investment policy guidelines as summarized below.  With the board’s approval, I will instruct our account-holder at Edward Jones accordingly.  Thanks also to Peg Steiner for her work with Jim to rebalance the account.
  • Equity investments: 61% vs. 60 ± 3% with the remainder in bonds, TIPS & cash.

Foreign equities:      14% vs. 15 ± 3%

Small to mid cap equities:  19% vs. 15 ± 3%

Large cap growth:  34% vs. 35 ± 3%

Large cap value:   36% vs. 35 ± 3%

Not to exceed 4% in any one stock:

Oracle 1.2%, Wells Fargo 1.1%, Philip Morris 1.1%, Chevron 1.1%, . . .

Not to exceed 20% in any one industry:

Industrial materials 17.6%, Financial services 14.5%, Energy 11.5%, . . .  Using the Morningstar star rating as a measure of risk-adjusted return, all funds in the portfolio are 3 stars or better from a possible range of 1 to 5 stars. 

  • Income tax preparation is in the works at Shannon & Associates based on data provided by Jim Schack. 
  • Had a telephone conversation with the owner of Lot 7 about the status of the lot which is currently for sale.  Discussion was held, a letter will be sent in response to his questions.

 

COMMITTEE REPORTS:

 

COMMON GROUNDS:  Barb Farley

  • Bill McLaughlin gave me a tour of the area.
  • Spoke to Trent Allen about meeting once a month to review the work being done.

 

 


SECURITY:  Dale Mjelde

  • Trouble with the Guard’s computer.  Bob Steiner is working on correcting the issues.
  • Due to ice on the roads, the gates were posted open for a few days.
  • The north gate was not closing; I was able to fix it.
  • No reported problems on New Year’s Eve.

 

WEBSITE:  Robert Steiner

·         Posted the December, Annual Meeting minutes and MVMA 2011 Budget to the website.

·         Renewed the Norton Security Software on the MVMA Office Computer.

·         Will send out an e-mail to MVMA distribution list reminding residents if they have not already paid their 2011 MVMA Annual dues that they must be paid before January 31 in order to avoid a late fee penalty.

·         Have been working with Pacific Fire & Security to get our system running properly.  We have been having virus and other troubles since early December.  Two different vendors were called and did some initial work, but did not totally fix the problem.  I called PFS and with concurrence from Bill McLaughlin asked them to come on site to fix the problems.   They have been on site three times, actually taking the computer back to their shop for some work.  Virus protection was installed and they also recommend a fire wall be installed between the two computers in the guard house and also that the computer that runs the gate and camera software (RKP) be restricted from any external internet access.  I told them to do this also.  They are supposed to return the computer with these “upgrades” on Wednesday.  Kim reported that all seems to be functioning ok.  They also recommend that we purchased 1 or 2 portable hard drives (cost about $80@) that can be used to backup the computer.  They also recommend a specific backup software (Acronis True Image, cost about $50.00).  I am also going to discuss (cost, advantages, etc.) with PFS software upgrade of the RKP software and an annual maintenance contract.

 

FACILITIES:  Jan Lewis

  • There are lights are out at the main entrance.  We believe Chris Rodwell has some replacement bulbs.
  • There is fence repair needed in one area – the barb wire needs to be replaced.
  • The are dead evergreens along the fence between the power lines and the home on Lot 171.  Barb will handle.

 

ARCHITECTURAL:  Frank Wisdom/Barb Farley

  • Seventeen letters were sent in November and three in December.
  • The January meeting will not be held until the club house re-opens.  So far we have one request for the month, which I will handle prior to the meeting.

 

MVCC:  Brian Applebury

  • Nothing to report.

 

NEW BUSINESS:

  • There are tree limbs in the road near Lot 365 and debris near Lot 138. Barb Farley will handle.

OLD BUSINESS:

  • Jim Schack gave an update on the IRS audit.  Our attorney, Filmore Rose, has submitted a three page letter along with documentation to the IRS, letter attached in file.  The hearing or mediation date will be assigned within the next thirty days.  MVMA was approved for the 501c4 status in 1975 then denied in 1995 appealed and re-instated.  We stress that we act as a community.   

 

PRESIDENT’S REPORT:  Bill McLaughlin

  • Everyone is able to attend the Board dinner on be January 23rd. 
  • Puget Power called to return power to Lot 73.  A contractor has requested information about replacing the roof.  Premier Assets Services called and requested a detailed list of how much is owed on the property.  Discussion was held, Mike Rucker will send the information requested.
  • The “Lear Car to U” entry system was discussed.  We will not at this time make any changes to our entry system.
  • Our attorney, Phil Mattern, has sent another letter to Mr. Garner’s attorney.  Hopefully we will hear something soon.
  • Due to vacations, the next Board meeting will be Wednesday, February 16th at 7:00 pm.

 

MEETING ADJOURNED:  6:00 p.m.

 

Minutes prepared by Cheryl Havener