Meetings of the Board of Directors
Ascot Homeowners Association
January 13, 2003
Alice Burns, Secretary

The Ascot Homeowners Association Board met on January 13, 2003 at Lars Okeson's house. The following were in attendance: Bob Naftal, Paul Celluzzi, Lars Okeson, Mike Lee, and Alice Burns.

The minutes from December 2002 were approved through email.

Treasurer's Report:

The 2003 annual budget was approved. A footnote will be added to the report stating that the budget complies with the IRS Code Section 528. In addition, the Board approved the designations of the December 31, 2002, cash and investment balance as follows: $3,600 to the Capital Expenditure Fund, $7,900 to the Permanent Reserve Fund, and $6,100 to the Tennis Court Reserve Fund.

Section 528:

A "homeowners association" is a condominium management association, residential real estate management association, or timeshare association organized and operated to provide for the acquisition, construction, management, maintenance, and care of association property. Sixty percent or more of the organization's gross income must come from membership dues, fees, or assessments from association owners.

In addition, 90 percent or more of the organization's expenditures must be for the acquisition, construction, management, maintenance, and care of association property and, in the case of a timeshare association, for activities provided for members of the association. Also, net earnings may not inure to the benefit of a private shareholder or individual (Section 528(c)).

Taxable income of a homeowners association is defined as the excess (if any) of the association's gross income minus exempt function income and deductions. Exempt function income is any amount received as membership dues, fees, or assessments from owners of property, rights, on interest in the association (Section 528(d)).

Dues status reviewed:

2002 dues -- one more homeowner needs to pay.
2001 and 2000 dues -- six out of eleven overdue dues were collected in 2002. After considerable effort, it has been determined that the remaining 5 uncollected dues are not collectible. The Board concluded that the 2001 and 2000 dues are a closed matter at this point.

Website:

The board members reviewed the website set up by Paul and suggested several changes and additions. The most important aspect of the website is to keep it simple enough that any board member can easily add to the website. The website offers links to local government services. The minutes will be posted to the website and archived for future reference. There will not be a directory, for the privacy of the homeowners, but there is the possibility of just listing the homeowner's last name and address since this is public information already. There was some discussion of a board email address for suggestions and comments, but the email will only be reviewed as often as maybe twice a month. If a neighbor has an urgent matter it's better for the person to contact a board member. Other suggestions were a bulletin board, email notice of any changes to the website.

Homeowners Directory:

The directory will be out soon; included in this year's directory will be a list of available babysitters and pet sitters.

Bylaws:

Bob talked with the lawyers and will receive some samples of bylaws from Kim O'Halloran-Cordray. In order to get this out in a timely manner it is suggested that we discuss the informal changes in the February meeting, then in March we will review the new bylaws before presenting the bylaws to the community for a vote of approval at a special meeting.

Common grounds:

The Board is in the process of pursuing a contract for the 2003 mowing season. A contract for the lawn service should stipulate that mowing commence in April and conclude in October with a note that mowing beyond August be less frequent because of the slow growing period. There are plans to bush hog the lower area of the common ground two times this year. Kathy O'Hara has volunteered to help get a common ground committee started.

A homeowner is interested in purchasing the basketball hoop, but the Board is going to wait until spring to make a decision on whether the hoop can be put up at the common ground.

Architectural guidelines will be reviewed in the spring.

HOA homeowner packets:

The packet is being reviewed to comply with Virginia law.

The meeting concluded at 9:30. The next meeting was to be at Paul's house on February 10th at 7:30. Due to the snow and Fairfax County School Board meetings, the February 10th meeting was cancelled. The next meeting will be on March 3rd at 7:30.

Respectfully submitted

Alice Burns
Secretary
Ascot Homeowners Association