SCHOA BOARD MEETING MINUTES

OCTOBER 28, 2024

Present: Gordon Baldwin, Chick and Sandi Barcellona, John and Mindy Ewing, David Hamilton, Laurie Kirschner, Tracy MacMillan

The meeting was called to order at 7:05 p.m.

• A financial report was presented by Tracy, treasurer. All 2024 dues have been paid. Only a very few residents have not yet paid the $250.00 assessment for the dredging of the wet pond, but that is expected to be rectified in the near future. The expected year-end balance of the budget is expected to be $11,599.12 in the black.

• Chick gave a report on the Reserve Study Plan that is required by the State. He has received two quotes so far for hiring a certified financial expert to help us determine what our budgetary needs will be moving forward. All infrastructure costs will need to be included, as well as reserve finances for unexpected future problems (fixing the sink hole, for example). The financial expert will conduct an on-site evaluation of our budgetary needs to help South Cove move forward in a fiscally responsible manner, as required by the State of Washington. It is hoped this can be completed by the 2025 January Annual Meeting. In the future, it is expected South Cove will need to reassess our finances approximately every five years.

• The committee in charge of exploring options for the repair of the storm drain gave an update on progress so far. At this time, it appears the repair of the pipe is going to be over $100,000. Sandi is working with professionals to ascertain the best way to repair the pipe, while Tracy is busy working on getting grants to help cover the expense. Thurston County was supposed to come back to run the camera through the pipe again to give us a better picture of the condition of the pipe, which will be helpful in determining the best repair options, as well as if we have an immediate problem or one that can be monitored for a few years. So far, they have not been very helpful in this regard. Gordon assured us that we are not alone in having to deal with this major infrastructure repair; dozens of HOAs in Washington are in the same boat. In the immediate future, David will work to secure a company that can run a camera through the pipe, as the County seems unlikely to be able to do so before the 2025 January Annual Meeting. It is the intent of the Board to be able to present an update on the situation at that time so residents will have a clearer picture of what the neighborhood can expect in terms of a time frame for the repairs and potential financial ramifications.

• There are still four boats on the boat rack in the Commons. All boats should have been removed by now. If you still have a boat on the rack, please remove it as soon as possible.

The next Board meeting is scheduled for Monday, December 9, at 7:00 p.m. at the Ewings’ home, 6718 Mirror Ct.

The meeting was adjourned at 8:23 p.m.

Minutes submitted by Mindy Ewing, Secretary, on November 2, 2024.