Board Buzz

BOARD BUZZ - March 2022 - Everett Lunsford, Treasurer
Posted on Mar 1st, 2022

 
Let me begin with all things financial…
 
At this time the Board has received the draft December 2021 financial statements from our new management company, Chesapeake Bay Management.  These draft statements are under review.  Several factors contributed to their delay:
  • Bank account transfers and reconciliation.
  • Individual homeowner account reconciliation due to the need for additional data from Town Management. 
  • Payments made by prior management in December that delayed the operating checking account reconciliation.
  • Chesapeake Bay Management worked with the association’s CPA firm to adjust the categorization of several transactions identified in our 2020 audit.  
Most issues, except the 2020 audit adjustments, have been fully resolved. December 2021 and January 2022 statements are expected to be released by mid-March. Slowly but surely we are closing our books and converting to new recordkeeping.
 
The Board recently hired Adams Jenkins and Cheatham to again do the New Town Residential Association's (NTRA’s) 2021 tax return and to prepare a financial statement compilation for 2021.
 
Landscaping Season
 
Spring landscaping is underway. Virginia Lawn and Landscape crews have methodically been mulching through each neighborhood. Mowing will begin this month.
 
For those who may still question the fenced yards landscaping decision, the Board is acting in the best interests of the entire community given our legal constraints.  The legal review of past practices initiated in response to owner comments on the 2021 budget resulted in 2 key guidance points:
  1. The Board had not followed the New Town Residential Association documents in past decisions and budgets;
  2. The Board has a legal obligation to follow the existing governing documents, regardless of past Board decisions and actions.
This “follow the documents” guidance was reinforced by the comments made by candidates during the search for a new managing agent, and by the consultant hired to assist the Board in addressing the turnover issues identified during 2021.
 
Solving this situation requires new Governing Documents, approved by 2/3rds of NTRA members.  At some future date, the Board will return to the draft documents presented in 2021, and update them based on comments and lessons learned in the managing agent transition. Unless and until 2/3rds of owners agree to changes, the existing documents remain in effect.
 
Familiarize yourself with these current Governing Documents available on the NTRA website page. (Use the links on the left side of the page.)
 
Village Walk Neighborhood Updates
  • The Board and Eagle Construction are currently discussing how to address the roof deficiencies identified by Eagle’s 2021 drone inspections and a subsequent NTRA authorized sample inspection of Village Walk roofs. This February roof inspection, where an inspector walked some roofs, found issues with 5 out of 5 homes sampled. A full independent engineering evaluation of the situation is planned to help us determine whether roof design deficiencies or only installation performance issues are causing these problems.  An engineering firm has been selected and is expected to begin work in mid-March. 
It is possible some Village Walk attics may need inspection as part of the engineering evaluation.  The Board requests your cooperation if you are contacted for attic access.
 
  • The Board of Directors recently approved a new chart developed by Chesapeake Bay Management that outlines who is responsible for what in terms of maintenance in Village Walk. It is available here. Chesapeake has used a similar matrix in other communities where the homeowners association has exterior maintenance and repair responsibilities. Please use this document to aid in determining whether you (Village Walk homeowner) or NTRA is responsible for a particular repair or replacement. Our thanks to Anne Ingram for her work in creating this valuable tool. 
Comments
Comment By: William Voliva
Posted on Mar 2, 2022

A great article/update. A "special" thanks to our volunteer BOD and committees and our "new" property manager for the time, energy and effort addressing the issues and mess from the developer and previous management company... THANK YOU ! ! !

Last Edited: 03/02/2022 at 03:20 PM