HOA Board Meeting, January 8, 2024

HOA Board Meeting, January 8, 2024

The Board of Directors held their first meeting for 2024. The 2024 Board consists of 6 members: Terry Cleveland, president; Tino Marquez, Secretary; Chuck Rivera, Treasurer; Andy Hippenmeyer, Director; Alisa Rayel, Director; and, Brooks Chumley, appointed Director. The Board is in need of a seventh member. Two KG community HOA members were invited to the meeting and the Board will vote to appoint one of them to join the Board.

Each Board member was requested to sign a code of conduct form that outlines the standard of conduct that is expected and which imposes certain legal fiduciary obligations on the members to perform their duties in good faith and in the best interest of the community. This is an annual event with each new Board.

The treasurer reviewed the 2023 end of year financial statement. The HOA ended up with $40,962.40 in working capital and $20,522.40 in two CD’s with a maturity date of June, 2024. Assessment collections in 2023 were $180,476.65 with only one outstanding delinquency. Total expenditures for the year were $182,842.75 which exceeded the budget by $6,524.75. Costs incurred from storm damages (February and June, 2024) account for most of the overrun. During fiscal year 2023, and anticipated in 2024, expenditures are close to matching or exceeding assessment income due to inflationary costs. The HOA needs to hold adequate funds in reserve for unexpected liabilities and the current amount of cash carryover is considered low.

Invoices for the 2024 Assessment will be mailed the week of January 8th. Registered lot owners should expect to receive their statement within 2 to 3 days after mailing.

Several KG homeowners have volunteered to serve on a Landscape Committee focused on beautifying our community. The Board reviewed the 2024 budget with a focus on funds which could be allocated to the enhancement of Kensington Grove common areas and agreed on a proposed budget for the committee.

A question was raised whether our community should be concerned about, and plan for, the solar eclipse event on April 8th. Johnson County public safety agencies are planning for the event and the influx of people into the area. Heavy traffic may cause congested roads and gridlock. The Board will consult local authorities and other resources to determine what, if any, steps should be taken on safety and preparedness.

It was noted that a stop sign is down at Ashby Court and Camden Lane. One of the Board members volunteered to repair the sign.

Lastly, the Board voted to approve Saturday, May 18, 2024 for the date of the next Community Sale.