About a month ago, we held the Kentucky Ridge annual meeting. Since not everyone was able to attend, I wanted to write a short summary of what was covered during the meeting.
First, I would like to introduce myself. I am Tyler Hicks-Wright, the new board president. Jackie, our outgoing president, finished her term this year and will be leaving the board at the end of December.
The meeting started with a presentation from Candyce Cavanagh, our new attorney. She spoke about some of the legislative changes in Colorado that are going into effect in 2014. One of the biggest issues she discussed was HOA collection policies, as the new laws have specified how HOAs must manage their collection policies. Those changes are related to the updates we’ve made to our own collection policy.
Jackie gave a short presentation as a part of Homeowner Education about the difference between operating and reserve expenses. A summary of that presentation can be found in our most recent HOA 101 post.
We also discussed some of the ongoing and recently completed projects around the neighborhood, such as the new roofs, entrance planters, engineering report, and the new website. If you would like any specifics on those projects, please contact one of your board members.
Svetla, our treasurer, gave a presentation of the 2014 budget. Without getting into too many details, the news is good. HOA dues are staying the same next year, and we expect to be able to put a reasonable amount into reserve for larger projects down the road. The new budget was approved at the meeting, but if you have any questions, you can find the budget in your annual meeting mailing or by speaking with a board member.
Overall, things are looking pretty good at Kentucky Ridge!
Tyler G. Hicks-Wright
HOA Board President, Kentucky Ridge Townhomes