10-27-2022 Champion Lakes HOA Budget Meeting

Champion Lakes HOA Board Budget Minutes
October 27, 2022 (Live) 8317 Victory St (online) Ring Central
https://meetings.ringcentral.com/j/1481110115
Meeting Agenda:

  • Roll Call / Attendance:
    • Board: John Hering, President; Tania Ware, Secretary; Judy Liles, Treasurer
      Live: Gustavo & Elva Araiza (8501 Sailors),
      Online: Ed White (8314 Victory), Randy House (8601 Scooner), Jimmy & Loren Wilson (8618 Gold Rd), June Hering (8317 Victory)
    • Proof of Notice of this meeting: emailed on October 14 th , 2022
  • Call Meeting to Order: Time: 7:04pm
    • President’s Introduction:
      President John gave an encouraging welcome and gave an overview of why this meeting
      was important. He also welcomed our new homeowners.
    1. Approve the Agenda – Tania made the motion to approve the agenda, and Judy
      seconded it. It passed.
    2.  Approve Prior Meeting Minutes
      1. a. October 28, 2021 HOA Budget Meeting
        10/28/21 HOA Meeting Minutes.
        A summary was given. Tania made the motion to approve the 10/28/21
        minutes as posted, and Judy seconded it. It passed.
      2. b. March 31, 2022 Annual HOA Board Meeting
        3/31/22 HOA Board Meeting Minutes
        Tania made the motion to approve the 3/31/22 minutes as posted, and Judy
        seconded it. It passed.
    3. Financial Report
      1. a. Jackie Sterk gave an overview of the financials from TownSq. TownSq Financial Report
        1. i. Balance = $28,931
        2. ii. Reserve Funding = $17,630
        3. iii. Assessments still owed for 2022 = $2,355
        4. iv. Overspend legal fees by $570
        5. v. Unbudgeted Iron Fence = $4,400 (came from Reserves)
        6. vi. Transfer from income to Reserves = $3,880
        7. vii. Utilities underspent by $900
      2. b. Comparison as of end of September
        1. i. 2020 balance = $63,985
        2. ii. 2021 balance = $28,396
        3. iii. 2022 balance = $28,931
      3. Tania made the motion to approve the 9/30/22 Financial Report, and Judy seconded it. Without further discussion it passed.
    4. Old Business:
      1. a. HOA Bylaws and Covenants Violations
        1. i. John explained the process for complaints/concerns
          1. Contact
            1. a. https://app.townsq.io/login on your Resident Portal
            2. b. [email protected]
        2. Loud noise – Rowlett non-emergency Police # 972-412-6200
      2. b. Maintenance Items/Discussion
        1. i. Want to make House improvements/construction/painting/sheds, contact: TownSq Architectural Review Committee
        2. ii. Communication is the key
          1. To find your TownSq Resident Portal: https://app.townsq.io/login
        3. iii. Important Documents: CH HOA website: http://championlakeshoa.com/important-documents/ It was noted to put a link on the Champion Lakes HOA website to TownSq
        4. iv. HOA Maintenance this past year
          1. Entrance Sprinkler Repairs (major repairs will go into the 2023 budget)
          2. Black iron fence painting/straightening
          3. Entrance flower bed – Fall/Winter planting
        5. v. Architectural Review Committee:
          1. Mike Kratz, Tracy Poplawski, Mike Mankin
          2. HOA color palette and Yard of the Season
          3. Will handle the requests TownSq Architectural Review Committee
        6. vi. Neighborhood Watch Committee:
          1. 1. Loren Wilson
    5. New Business:
      1. a. 2023 Budget Proposal by John
        1. i. Anticipated Significant increases next year
          1. Insurance and Legal Fees (@ $5,000)
          2. Anticipated Irrigation Repairs (@ $3,000)
          3. Landscaping Improvements (@ $5,000)
          4. Reserve Contribution (@ $6,180)
          5. Total increase of $18,000
        2. ii. Brick Fence Replacement after 10 years is estimated to be as follows
          1. a. $82,000 to replace the brick wall and fence
          2. b. $13,000 estimate to maintain the brick fence in 2024???)
        3. iii. The Champion Lakes HOA Homeowners passed the assessment budget proposal last year (Reserve Study Recommended a $150 increase, but we voted to divide up the increase to $375 in 2022 and $450 in 2023)
        4. iv. The proposed budget for 2023 is $41,400 (Addendum #1) Tania called the motion to approve the 2023 Champion Lakes HOA Budget, and Judy seconded it. There was some clarification regarding an increase of $75 last year for the 2022 budget, and $75 increase this year for the 2023 budget. The motion passed.
      2. b. Rental Cap Committee (RCC)
        1. i. Several homeowners requested that a Rental Cap Committee be created to study the feasibility of capping the number of rental homes allowed in our HOA. The president appointed a committee.
        2. ii. The RCC has been working with Attorney Casey Meyers to present to the Champion Lakes HOA Homeowners at a special meeting in the near future.
      3. c. Discuss Scheduling of next HOA Board Activities / meetings
        1. i. Neighborhood Garage sale (Coordinator and date TBD)
        2. ii. Annual Meeting – Thursday, March 23, 2023
          1. Agenda: Reports, Finances, Elections (Judy Liles),
    6. Adjournment
      1. Thanks those who joined the meeting
      2. Please contact your HOA (Tania, Judy, John) if you want to get involved
      3. Please Contact your ARC (Mike, Mike, Tracy) if you want to improve your outside yard/house
      4. Send questions or comments to your HOA Board or [email protected]

Respectfully submitted,
Tania Ware, Champion Lakes HOA Secretary