Board Meeting Highlights

The Board:

February 16, 2022

• Approved the January 2023 financial report from Treasurer Karen Warren, as shown on this page.

• Approved the appointment of Mary Kay Crowley to the Ad Hoc Committee for the Review of Policies and Procedures.

• Approved the appointment of Marci Smith and Lisa Shoemaker as Co-Chairs to the Ad Hoc Committee for the review of policies and procedures.

• Approved the removal and replacement of the decomposed granite in the Bocce Ball Courts by O’Connell Landscape at a total cost of $5,678.20.

• Approved the purchase of window blinds for the fitness center from Budget Blinds at a total cost of $1,305.70.

• Approved installation of a small pergola in the Heritage Garden by Stanco Construction at a cost of $1,900 with funds to be provided by donations from members of the Heritage Garden Club. The Heritage Garden Club assumes responsibility for all future costs associated with repairs, maintenance, and/ or removal of the pergola.

• General Manager Marilyn Smith reported that there will be three Board of Director seats up for election in June. Applications are available at the Rec Ctr 1 office. The website certificate for Casta del Sol has been renewed.

• Landscape Services Coordinator Bill Thornton reported there were 210 landscape maintenance requests received in January. A large tree branch fell during the recent storm. The tree was assessed and will be removed. A fence on Silvestre was damaged by falling branches and will be repaired.

• Maintenance Services Supervisor Ed Pedroncelli reported on ongoing maintenance projects. The paint project is on schedule despite the recent rains.

• Recreation Director Valerie Hanich reminded residents that all payments for activities and parties are paid by check. There are no cash payments accepted at the Rec Office.

The next regular meeting of the Board of Directors will be held March 16, 2023, at 1 p.m. in the Vista Room. The next workshop meeting will be held March 2, at 9 a.m. in the Vista Room

Fran Morgan, Courier Chair

**For a copy of the January 2023 Treasurer’s Report, refer to castadelsol.com, Recreation Center bulletin boards, and/or eblasts.

January Treasurer’s Report

Total HOA Assets as of January 31, 2023 are $6,665,358, an increase of $280,939 from last month. This includes the following:

• Operating Cash is $1,349,895. This includes $205,388 in cash, $644,507 invested in a money market account, and $500,000 invested in four CDs with interest rates between 2.50 and 4.35%. There are no operating CDs that mature in February 2023

• Reserve Cash is $4,742,200. This includes $725,985 invested in a money market account, $4,200,000 invested in 21 CDs with interest rates between .70 and 4.50%, plus $18,319 in prepaid taxes and $35,493 in interest. There is also a total expense due to Operating Cash in the amount of $237,597. There is one Reserve CD that matures on February 24. This CD will be rolled over for a nine-month CD in the amount of $200,000. At this time, we do not have the official rate.

• Capital Improvement Cash is $$203,732. This account is funded by budgeting $8 per month per homeowner that results in monthly capital contributions of $15,416 plus interest.

• Total Outstanding Accounts Receivable is $78,631. The allowance for Bad Debts is $47,701 and is adjusted monthly. It is equal to outstanding receivable balances over 31 days.

The following is a selection of our operating category expenses for the one month of 2023.

General & Administration is: $114,364 which is $4,944 over budget.

Land Maintenance is: $270,727 which is $92,702 under budget.

Recreation/Lifestyle is: $35,647 which is $3,890 under budget.

Repairs and Maintenance is: $24,332 which is $2,231 under budget.

Traffic Control is: $76,423 which is $285 under budget.

Utilities are: $92,392 which is $4,676 over budget.

TOTAL Operating Expenses

Before Reserves is: $613,885 which is $89,489 under budget.

TOTAL Operating Expense

Including Reserves and Interest is: $937,205 which is $80,085 under bud.

The following is a sampling of operating category expense for the month of January 2023.

General and Administration

• Office Supplies/Equipment is $3,537 which is $2,704 over budget due to an increase in monthly office supplies/equipment expenses.

Maintenance

• Repair and Maintenance is $6,145 which is $395 over budget due to additional repair and maintenance expenses.

Utilities

• Electricity is $30,189 which is $12,668 over budget due to seasonal increase in the usage of electricity.

Treasurer’s Comments:

This Treasurer’s Report includes all information compiled through January 31, 2023. The financial statement for January currently includes expenses for 2022 that were not paid until January 2023. These expenses will be reallocated to 2022 after the audit, which will be concluded in March of this year. The Landscape Committee sent out an RFP for the Jeronimo Slope and had five companies attend a site walk. We are awaiting final legal approval of the new Landscape Contract. The Board will keep the membership apprised of all progress made on all outstanding projects. We had one reserve CD of $200,000 to be rolled over on February 24, 2023.

Respectfully submitted,

Karen Warren, Treasurer

A Call for Candidates for Three Board Seats

Continued from page 1 in management, finance, contract negotiation, communication, research, human resources, science, and technology are talents and assets, if shared, that can benefit the entire community. Becoming a Board member is an opportunity to make a positive difference where you live.

If you are interested in running for one of the three Board of Director’s positions that will be elected this

June, you can pick up a Candidate Application at the Administrative Office or Rec Ctr 1 office. If your application and resume (maxium 300 words) is received by March 31, your candidate’s statement and picture will appear in the May edition of the Casta Courier. A Courier photographer will take your picture for that edition. To have your name appear on the official ballot, a Candidate Application must be received by April 17.

Annual Flea Market Scheduled for March 10-11

Continued from page 1 items. You never know what you might find! Stop by the popular baked goods table for homemade, delectable treats and the raffle table for awesome gift baskets. Questions? Call Carol Favreau at (714) 470-8181.

News You Can Use

Headsets Available for the Vista Room

If you are having difficulty hearing what is being said at meetings and events in the Vista Room, there is some help available to you. There are six small devices that can be adjusted for volume, each with a headset which makes the sound more concentrated and amplified. Just check in at the Rec Ctr 1 office before the event or meeting and request the use of one of these devices.

New Garden Room

Continued from page 1