HOA BOARD MEETING

24 Mar. 2011 @ 7:00pm

Those in Attendance: Board Members: Edward Takacs, Mike Scales, Gene Cosper, Jeremy Fong (Excused)

Review Minutes & Assignments: 3 Nov. 2010 HOA Board Meeting

Management:

- Reviewed Lexington Estates HOA Balance Sheet.

Lexington Estates HOA
Balance Sheet
Transaction 01/31/2011
Assets
Operating Accounts
LEXE SS - CHECKING 12,534.56
Total Operating Accounts 12,534.56
Accounts Receivable
A/R 15,712.59
Total Accounts Receivable 15,712.59
Total Assets 28,247.15
Liabilities & Equity
Liability
Prepaid Assessments 21.90
Total Liability 21.90
Equity
Open Balance Equity 22,596.84
Reserve (13,073.07)
Net Income 18,701.48
Total Equity 28,225.25
Total Liabilities & Equity 28,247.15

- Taxes will be filled as directed by the IRS: 31 May 2011
- Financial Audit is required annually. Mike Scales is looking into 3 bids.
- Will get with management co. about budget for next year, to be presented at our annual HOA meeting on 9 June 2011 at 7pm. Location to be determined.
-- Fliers will go out to all homeowners.
-- Edward Takacs will look to reserve a room at the Clearfield Library.
- Sometime in April 2011 the HOA Board will go though the HOA neighborhood and perform a landscape maintenance/appearance survey.
-- All write up will be filled with our management co. to process.

Landscape:
- HOA Board will meet with our landscaper to determine our needs and wants regarding our landscape easement.
- Mike Scales will look into 3 bids for replacement of trees and or bushes.

Next HOA Board Meeting: To be announced.

Review of notes: All Board members agreed.

CLOSED: 8:10 pm