Coleson Cluster Association

1600-1688 Wainwright Drive
Reston, VA 20190

Founded in 1967 in the Lake Anne neighborhood of Reston

Minutes to the Meeting
October 4, 2004, 8:00 pm

Hosts: Sam and Eileen Harahan (1660)
1.	Present: Sam Harahan, President; Beth Anne James, Vice President; Michael Coyne, Director; Chuck Szczepanski, Director; Jennifer Tomlinson, Director; Bob Lanman, Resident. Minutes taken by: Jennifer Tomlinson
2.	Review of Board of Director's meeting minutes from September 14, 2004 Meeting: All minutes approved with the exception of the Carport painting information. Need to correct the draf tto reflect that the budget for the carport painting is $10,000 and the actual expense is $9,800.
3.	Treasurer's Financial Reports
	Year-to-Date Financials Will Fraize read the highlights of the year-to-date Financial Report. Generally in good condition. The Homeowner in arrears is now causing real difficulties in our balance sheet. It may have an impact on our December balance and ability to invest in Reserves. December projection is the lowest amount in our checking account.
	General items All but one set of dues have been paid. No response from delinquent homeowner (5 quarters delinquent). Formal process will now begin to recover the dues. 4 sets of disclosure packages have been issued. We are paying higher administrative office expenses than budgeted. Billing for the carports and entrance sign lighting are not yet corrected. Will projected the expenses as if they were billed accurately. Snow removal retainer fee has been received. The actual expenses posted for the landscaping project at the Cluster entrance adjacent to 1658/1660/1662 reflect negative expense due to the contributions of the 3 owners. It is reflected as a reduction in the expense to the Cluster, not as income. It will appear in the accounting. We will still be over budget but not as much as the actual cost of the landscaping.
	Savings Account and Investments Two CDs have been rolled over, posting $622 interest income. Three CDs are currently earning between 1.49% - 2.47% interest income. They total in value $35,490.84. The next one to mature is due in January 2005, for $10,000. Next after is September 2005, for $15,000. The last is will mature in March 2006, current rate 2.25%. This last CD has the option of 'bumping up' the rate one time during it's 17-month duration. Will Fraize will monitor the interest rates to take advantage of the change in the rate. Suntrust sent a notice regarding Legislation pertaining to check processing. We will no longer get the original check back, only the image of the check. There is also an option to receive the bank statement on-line, or by mail. Will Fraize to contact the bank to find out whether we can change back to the paper statement at a later date, if a different Treasurer would prefer the hard copy. The Treasurer will print out the statement to keep a file on a monthly basis.
	Tax Return and Audit Status The audit report was received the evening of 4 October. After a brief review, the Board decided to defer the discussion of the audit to the next Board meeting to be held November 1, in order to review the report in greater detail. The tax return will be filed on time. Suggestion: invite the auditor to join next meeting to review the report and offer advice to the Board/Treasurer about formats and processes. Will and Sam will discuss if this is prudent.
4.	Status Reports on Contracts Let
	Chuck S. stated that the roadway expenses will be deferred because it too late in the year to complete the entire project. Only the crack sealing will be done by November, and the resurfacing and curb painting will hold until Spring. It will be reflected in the budget as $2900 vs. $6200. This will help the December balance. One more bid is due. Chuck S. will request that they offer the bid in two segments (sealing now, resurfacing next fiscal year).
5.	Fall 2004 Cluster Celebration Planning Status, and Fall Cluster Clean-up Plans
	Clean up: Sam will lead the clean up activity. He'll come up with a list of areas to attend to. RELAC representative Michael Coleman will hold a meeting at the Coyne's on Oct. 14, 7:30-9. Flyers will be issued at the Octoberfest.
6.	Other business
	Proposed Cluster By-Law Review/Update Bob Lanman issued a document with suggested changes to the By-Laws. It incorporates details that bring our by-laws in conformity with VA law. He suggests specifically linking to the current laws in place. There is currently no existing referral to the actual laws. Laid out for the Board and community the changes that are possible. The Board needs to review the recommended changes offered, and decide if we will make a substantive review or a minimal change to the By Laws. Action: Board to review the documentation and think about the substantive issues. For example, offering 2 days notice before meeting to the Residents. Is that adequate? Reference docs: Discussion of Possible Changes to the /Coleson Cluster By-Laws Draft 9/29/04, Current By-Laws of Coleson Cluster Association, with recommended/suggested changes in red.
7.	Reserve Study Status report
	Reference: Reserve study committee charge, draft 10/04/04 sfh Discussion of other items that may be added, for example Landscaping and tree replacement. It is still under review.
8.	Adjournment 10:00
	Next scheduled meeting is Monday, November 1, 2004 at Will Fraize's home.

Mailing Address: P.O Box 8382, Reston, VA 20195-2282