BOARD OF DIRECTORS MEETING
COMMENTS FROM THE FLOOR
Generator Installations – an issue was raised regarding the recently developed PSGRC ARC Guidelines to allow homeowners to install generators and propane tanks on their property. Concern was expressed that these guidelines do not contain a requirement that installation conform to Village of Estero specifications. It was also noted that some of the wording could be misconstrued by residents with respect to what constitutes “adjacent property” in relation to the lakes within the Masters. The Board agreed that it might be appropriate to develop our own ARC Generator requirements to address these concerns.
January HOA Payments – a member raised the issue that their January HOA payment had been deducted twice from their bank account during the transition to Truist. Frankly Coastal was aware of two instances where this had occurred and has been researching the cause. They offered to meet with the individual at the end of the meeting to further discuss and resolve this issue.
PRESIDENT’S COMMENTS
President Jerry Vasile spoke about his email that was sent to the community earlier in the week. He also praised the Social Committee for the two most recent Masters gatherings. Thanks was also made to Kay Howard and her team for the holiday decorations. Jerry announced that Ron Paquette and Jim Van Aucken have volunteered to take on this effort going forward. Lastly, Jerry spoke of the great community spirit within the Masters.
TREASURER’S REPORT
Treasurer Scott Gallaher and Frankly Coastal have reviewed the draft version of the December report and have reclassified some journal entries. A final version should be available shortly.
The largest variance to the 2023 accounts were related to hardwood tree trimming in 2023. The expense of $9,945 was not invoiced, or paid, until FY 2024 and negatively impacted 2024 P&L.
Removing this variance, 2023 P&L would be $651.71, or effectively on budget.
At the recommendation of the Treasurer and Frankly Coastal, and with concurrence from the Board, the following will be voted on by the membership at the Annual Meeting to be held on March 11th, 2024:
- Pay for irrigation repairs and replacements from Operating Expenses and/or Deferred Maintenance accounts and move the funds from the Irrigation Reserves to Deferred Maintenance.
- Waive the requirement for an annual audit of the accounts by an independent CPA.
- Rollover excess funds from 2024 budget to the 2025 budget.
ARC REPORT
The ARC Report will be posted to the Masters Website within the next week.
PROPERTY MANAGER’S REPORT
Truist Transition – funds have been moved to Truist and a communication sent to all homeowners with instructions on how to set up quarterly HOA payments.
Electronic Voting – response has been less than expected and a recommendation was made to send this request out again as a separate communication. Homeowners will have the option of completing the form for electronic voting and returning it via US mail, scanning and sending via email or dropping it off at the Secretary’s home located at 21724 Masters Circle. The Board wants to stress that electronic voting is the most efficient and cost-effective option when it comes to resident voting or polling. Please send in your consent to do so.
Reserve Account Investment Options – the Board of Directors approved investing $50K of reserve funds in a short term (6 month) CD and $50K in a long term (12 month) CD.
The next meeting will be the Annual Meeting on March 11th, 2024 at 3pm in the Sound Room above the Fitness Center. The Board of Directors will hold an Organizational Meeting immediately following the Annual Meeting.
Respectfully Submitted,
Lynelle Reney (Moscaritolo)
Board Secretary
