Board Meeting, January 23, 2019

• January 23, 2019

MINUTES FOR THE JANUARY 23, 2019 SAN ANTONIO VILLAGE ASSOCIATION

Dawn Lucian (President), Lynn Nichols (Vice President), Michael Porter (Secretary), Bettina Johnson (Treasurer) and Chad Lindblad (Member at Large) were in attendance. Manager Karel de Veer, Maintenance Supervisor Kent Harris and nine homeowners were also in attendance.

The meeting was called to order by Dawn Lucian at 7:00 P.M.

1) Peter Sturken has resigned from the Board. We thank Peter for his many years of service to the Board. The Board voted unanimously for Chad Lindblad to replace Peter Sturken on the Board. Lynn Nichols will replace Peter Sturken as Vice President and Chad Lindblad will be a Member at Large. All other Board positions will remain the same. Peter Sturken will be removed and Chad Lindblad will be added as a signer on all bank accounts. We are very happy to have Chad Lindblad join us.

2) The minutes from the November 28, 2018 meeting were approved.

3) Treasurer’s Report: Bettina Johnson

A) Capital Fund Management:
The San Antonio Village Homeowner’s Association has a thirty year Capital Maintenance Plan which is professionally reviewed and updated every three years with the next review to be published this April 2019, with a new assessment fee to be implemented July 1, 2019. The current fund balance is $1,282,912. and is held in five CDs ranging in value from about $200,000. to $250,000.; one money market account worth about $5,000.; and an operating fund/ checking account presently of about $175,000. In the past Manager de Veer has compared available interest rates when a CD matures, though for several years interest rates have been below 1%. However the good news is that Karel’s most recent research has shown things have changed dramatically.

I therefore support Karel’s recommendation that the Board approve the closing of a Rabobank CD valued at $235,000 which is paying only .55% interest or $1,286. plus pay the early closing penalty of $654.: and then open a Capital One CD at 2.70% interest which will pay $6,345. which means an increase of $4,405! Capital One closed their office in the Santa Barbara area about a year ago so I will work with Kim Scott – Assistant Manager/Finances to obtain the interest earned information needed for our budget statements by phone. Recommendation approved by the Board with appreciation for Karel’s timely effort.

I further support the closing of a Montecito Bank and Trust CD valued at $206,000 which is paying only .70% interest or $1,440. plus pay the early closing penalty of $732.: and then open a Santa Barbara Bank and Trust CD at 2.10% which will pay $4,326. which means we
will earn $2,154. more. Recommendation approved by the Board.

Unfortunately a Bank of the West CD valued at $207,426. is paying only .20% interest but must must be held until 12/15/19 because of the early closing penalty of $6,244. ($25. plus 3% of amount withdrawn).

B) Regular budget review report:
At the end of December 2018 our Total Income is $365,008. or 99.1% of our 2018-19 budget projection; our Total Expenses are $362,790. or 96.6%; and our Other/Rental Income is $18,000 or 100% and there have been no expenses in this fiscal year.
Our Net Income which at the end of the fiscal year is deposited into our Capital Maintenance fund is presently $20,218. or 188% and though it will fluctuate as the year progresses.
Administration Expenses:
631-Holiday Expense was $2,196 or 137%, higher than originally planned because we continue to have good and an increasing number or residents turn out for good food and comradery – Yay!!!
690-Taxes-Property is $1,870 or 173% because it is paid in a lump sum.
Capital Fund:
705-Rec Room remodel has a $10,905 balance as the floor will be updated at some point in this or the next fiscal year.
Grounds/Landscaping:
401-Grounds Materials is $22,049 or 147% because Kent and his crew really hustled and accomplished replacing the entire lawn along the Calle Real marginal area with drought tolerant plantings ahead of schedule!
406-Irrigation costs are due to replacing sprinklers in area describes above with drip irrigation.
Maintenance:
471-Pest Control/termite tenting costs are $7,179. or 258% and as usual are generally unpredictable.
Utilities:
504-Water-I am delighted to share that as of this morning (2/7/19) the gauge at the Goleta Water District Office reports that our location has received 85% of rain expected in an entire normal rain year, which began in September 2018, or 151% for this date in February. Also Lake Cachuma is slowly rising because of ground saturation and is up to 49% of capacity up from the low 30% it has been at. Plus the Sierra snow pack is in great/deep shape!!!Yay! Yay!, Hip Hip Hooray!!!

4) Architectural Change Requests:

A) Board tabled the request to replace existing downstairs bathroom window with sliding privacy glass locking window for 33-A N. San Marcos Road. The Board has requested additional information regarding the color of the window because the listed vendor for this work is not the vendor who normally does window installation at San Antonio Village.
B) Board unanimously approved installation of air conditioning for 5050-B Calle Real. Outdoor condenser will be on back patio.

5) Manager Karel de Veer gave a briefing on the assigned parking spaces. Karel de Veer will survey the residents between 5072 Calle Real – 5086 Calle Real to determine their parking requirements. This area is short four parking spaces. A subcommittee of Dawn Lucian, Chad Lindblad and Mike Porter will review the survey results. This subcommittee may review parking requirements in other areas in the future. Dawn Lucian requested that Karel de Veer review the CC&R’s regarding parking spaces.

8) Mike Porter agreed to research lighting options for the carport and sidewalk areas.

9) Kent Harris has agreed to keep the pool area open until 10:00 P.M. instead of 9:00 P.M. when the pool is not heated during the winter months as approved at the October 2018 meeting. Numerous residents requested that the pool area remain open until 10:00 P.M. during the winter months. The board will review this policy again at the October 2019 meeting. A suggestion was made to have the residents serve as “ambassadors” and close the pool area themselves at 10:00 P.M.

10) A resident suggested that the next newsletter include information regarding how to check for toilet leaks.

Paul Cashman, the State Farm Insurance agent who handles the San Antonio Village Master Insurance policy account, will be making a presentation in the Recreation Room on Wednesday, February 6th at 7:00 P.M. Paul Cashman will explain the master policy coverage and deductibles and will be available to answer any other insurance related questions homeowners may have.

The next regularly scheduled board meeting will be on Wednesday, February 13, 2019 at 7:00 P.M. (rescheduled from February 20, 2019).

Meeting adjourned at 8:00 P.M.

Submitted by Michael Porter, Secretary