Compiled by Patrick Comiskey
The September Board meeting was attended by 34 people, with a full slate of Directors. The meeting was dominated by a long discussion of the Association’s 2025 Budget.
The September Board meeting was attended by 34 people, with a full slate of Directors. The meeting was dominated by a long discussion of the Association’s 2025 Budget.
ALL ABOUT THE BUDGET:
The Board’s budget discussion on Tuesday was preceded by the unveiling of a draft of the 2025 budget at a Budget and Finance Committee open house meeting on Monday, 9/23. Insurance specialist Kimberly Lilley told attendees at the open house that the insurance market remains precarious, with the number of operators in California still much lower than in previous decades. According to Ms. Lilley, the carriers still offering coverage will continue to increase rates to cover their risk.
In her thorough and comprehensive presentation to the Board on Tuesday night, Treasurer Claire Knowlton walked through the impact the 2024 insurance rate hike has had on the HOA’s budget and the likelihood of those impacts continuing into 2025.
The large insurance rate hike not only resulted in a dues increase of 20% in 2024, but it also meant far fewer funds have been set aside for reserve projects. To begin to make up for this shortfall and to accommodate another likely insurance rate hike, Ms. Knowlton has proposed the Board consider another dues increase of 20%. Ms. Knowlton forecasted the operating budget at $4.8 million, with insurance fees accounting for fully 26%, or more than a quarter, of the entire budget. Contributions to reserve projects in 2025 is forecasted at $1.6 million. The Board will vote on the budget at next month’s meeting.
Recently, Ms. Knowlton announced her intention to step down from the Board when her term ends in February. She was thanked profusely by residents and fellow Board members. The Board will be seeking someone to take over Ms. Knowlton’s role.
Claire has offered to train her replacement in nonprofit financial and accounting practices—an incredible opportunity to learn, at no cost, invaluable accounting skills.
The Board’s budget discussion on Tuesday was preceded by the unveiling of a draft of the 2025 budget at a Budget and Finance Committee open house meeting on Monday, 9/23. Insurance specialist Kimberly Lilley told attendees at the open house that the insurance market remains precarious, with the number of operators in California still much lower than in previous decades. According to Ms. Lilley, the carriers still offering coverage will continue to increase rates to cover their risk.
In her thorough and comprehensive presentation to the Board on Tuesday night, Treasurer Claire Knowlton walked through the impact the 2024 insurance rate hike has had on the HOA’s budget and the likelihood of those impacts continuing into 2025.
The large insurance rate hike not only resulted in a dues increase of 20% in 2024, but it also meant far fewer funds have been set aside for reserve projects. To begin to make up for this shortfall and to accommodate another likely insurance rate hike, Ms. Knowlton has proposed the Board consider another dues increase of 20%. Ms. Knowlton forecasted the operating budget at $4.8 million, with insurance fees accounting for fully 26%, or more than a quarter, of the entire budget. Contributions to reserve projects in 2025 is forecasted at $1.6 million. The Board will vote on the budget at next month’s meeting.
Recently, Ms. Knowlton announced her intention to step down from the Board when her term ends in February. She was thanked profusely by residents and fellow Board members. The Board will be seeking someone to take over Ms. Knowlton’s role.
Claire has offered to train her replacement in nonprofit financial and accounting practices—an incredible opportunity to learn, at no cost, invaluable accounting skills.
CHECKING WITH LEGAL COUNCIL ON CIVIL CODE 4745:
Board Member Daniel Millner sought clarity on the relevance of Civil Code 4745, which removes provisions in any governing documents that prohibit the installation or use of an electric vehicle charging station within an owner’s exclusive-use parking space. Given the Association’s current power limitations, the Board approved a resolution to consult with the Association’s attorney for guidance on how to comply with the code.
SHADE GUIDELINES APPROVED:
DRC Board Liaison Haleh Shoah shared revised guidelines for installing shades and awnings on decks and patios. Such projects would still need to go through the DRC for approval. The Board approved the new guidelines, along with a resolution to update the VG Handbook to reflect these changes.
Board Member Daniel Millner sought clarity on the relevance of Civil Code 4745, which removes provisions in any governing documents that prohibit the installation or use of an electric vehicle charging station within an owner’s exclusive-use parking space. Given the Association’s current power limitations, the Board approved a resolution to consult with the Association’s attorney for guidance on how to comply with the code.
SHADE GUIDELINES APPROVED:
DRC Board Liaison Haleh Shoah shared revised guidelines for installing shades and awnings on decks and patios. Such projects would still need to go through the DRC for approval. The Board approved the new guidelines, along with a resolution to update the VG Handbook to reflect these changes.
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