Santa Fe Trail Ranch POA
Annual Meeting
TSJC Massari Auditorium
October 20, 2001
MINUTES

Board Members Present:
Bill Bumstead
Jim Davis
Michael Hughes
Paul Miner
Carol Rawle
Mike Shelton
Harriet Vaugeois
Bill Wenstrom 		Board Members Absent:
Rick Johnson
  1. CALL TO ORDER - Meeting was called to order by Jim Davis.
  2. PROOF OF NOTICE - Bill Quigley gave proof of notice.
  3. INTRODUCTION AND ROLL CALL - Introduction of Board members present: Jim Davis, Bill Wenstrom, Harriet Vaugeois, Bill Bumstead, Michael Hughes, Mike Shelton, and Paul Miner.
  4. DETERMINATION OF QUORUM - with 132 Lots represented in person, or by proxy, it was determined that a quorum was established. 10% (45 lots) of the total 444 lots is required to conduct business.
  5. APPROVAL OF MINUTES OF PREVIOUS MEETING - Bill Wenstrom moved to approve the minutes from the last Annual Meeting held on October 14, 2000. Harriet Vaugeois seconded. No opposition. Motion passes.
  6. COLLECTION OF BALLOTS AND TALLY OF VOTES - Four nominees ran for three open Board positions: Kathleen Kelly, Ed Hockett, Jerry Whitington, and Bob Santoro. Results: Ed Hockett- 129 votes; Kathleen Kelly- 59 votes, Jerry Whitington- 130 votes; Bob Santoro- 98 votes. 2 abstentions. The new Board members are : Ed Hockett, Bob Santoro, Jerry Whitington.
  7. OLD BUSINESS
    1. Committee Reports - No questions from the floor regarding Committee Reports.
    2. Other Old Business - Jim Davis explained the Metro financials. He noted that 11% of property owners are 30 days or more behind in payments. Jim reminded everyone that new coupon books for the next three years’ payments will be going out around the beginning of 2002. He also stated that in September 2004, anyone who wishes may pay off their remaining balance to reduce interest charges. He also informed the members that the < $426,000> amount under the Net Income section reflects the cost of materials the District paid to US West (now Qwest) for the phone system. The Metro District paid for these materials because as a governmental body it is exempt from sales tax, which saved approximately $2,800.00.

      Jim Davis gave a brief history of the telephone installation stating that originally the cost was quoted at $4.4 million. In 1997 when the POA members took control from the developers, they researched this and found that if they arranged construction and paid for basic materials and conformed to US West’s specifications, this could save money. Included in those terms, once completed and approved, the POA would then give the system back to US West for maintenance and up keep.

    3. Discussion - None
  8. NEW BUSINESS
    1. SFTR Budget - Bill Wenstrom discussed the proposed 2002 Budget. He noted to the Members that the 2001 Budget will remain in effect until the end of this year. Mr. Wenstrom also stated that some changes will be made to the final budget closer to the end of the year. The possible changes are in the following areas:
      1. CPI- These figures are not out yet, but are expected to be lower than last year.
      2. Lot Improvements- Still need to get a complete tally of the number lots going from unimproved to improved status. This will raise the dollar amount of dues collected.
      3. Interest Rates- Interest rates are falling. This will lower the interest income estimate. Currently the interest bearing accounts are getting 1.1%. Mr. Wenstrom is looking at other banking institutions for better rates at this time.
    2. From the Floor
      1. There was discussion of the Metro financials and coupon payment books. Bill Quigley explained how the financials are prepared and how to read them. Bill Quigley then explained there have been some problems at the bank assigning proper payment to some members and this could be straightened out by contacting the Century Small Business office. He also noted that the bank tends to have a slow turn around time on reporting these payments and that a payment could have been made, but because the report given to Century Small Business may not have been completely up to date, the report produced by Century still shows a payment due.
      2. The discussion moved to new owners who are not getting accurate information about the coupon books from the title companies and some Realtors. Bill Quigley suggested that once SFTR knows of a new owner, someone needs to get that information to Century Small Business which would contact the bank to make sure they have the correct information. Jim Davis also suggested that those people who feel they have not been properly credited should bring their canceled checks to the bank The question was asked about how the bank follows up with returned mail or incorrect addresses. Century Small Business will give a current mailing list to the bank to verify and/or change addresses.
      3. Another question on the policy regarding late payment notification was brought up. Jim Davis explained the 30-60-90 day letter system Century Small Business has in place. After 30 days a friendly reminder letter is sent. If no response, after 60 days a letter notifying property owner that a lien will be filed, if they do not send payment. The third letter is sent after 90 days stating that a lien has been filed against the property. A copy of that letter also goes to the mortgage holder or lender.
      4. Discussion moved to changing the Annual Meeting to coincide with the Annual Picnic in July. Some Members feel this will bring a bigger group to the meeting. Others feel there will not be enough room at the local motels to accommodate those who do not have homes built at SFTR. It was noted that the by-laws and covenants clearly state the Annual Meeting must be held in October due to fiscal year restrictions. It was suggested that the new Board do an analysis to determine the difficulties of such a switch and put out a report for the members. Currently the meetings, both the Annual and Board meetings are held towards the end of the month for account reconciling reasons and timetables.
      5. A member asked if there are address and phone number lists available. Bill Wenstrom noted that these lists are posted on the web site under Emergency Services Reports.
      6. Bill Wenstrom reminded new members to contact Century Small Business Solutions for their Water Coupon books.
      7. Jim Davis spoke about the need for expanded participation by property owners. He did appreciate the fact the there were four (4) candidates for the three (3) Board positions. Jim also noted that he has appreciated working with everyone over the last four (4) years to help build a community and while he will no longer be on the Board, he will remain available to them.
  9. DATE OF NEXT MEETING - To be determined by Board following the Annual Meeting.
  10. ADJOURNMENT - Bill Bumstead moved to adjourn the meeting at 10:10 am. Carol Rawle seconded. No opposition. Motion passes.

Reviewed by Ed Hockett
Mailed to Members w/ Pres. Letter 11/2/01