Minutes
Board meeting
December 26, 2024
Call to order
This meeting of the Board of Directors of Las Rosas Condominium Association was called to order at 7:01 pm on December 26, 2024 by Paula Steinert (President). It was held by phone with the agreement of all directors in compliance with the First Amendment to the Bylaws.
Directors in attendance: Paula Steinert, Randy Wohlford.
Appointment of acting secretary
Because the office of Secretary is vacant, by unanimous vote, the Board appointed Paula Steinert to record minutes during this meeting.
New business
The Board agreed unanimously to raise the quarterly fee paid by owners to $485.00 effective January 1, 2025. (See attached letter.)
Adjournment
The meeting adjourned at 7:10 pm.
Submitted for approval by Paula Steinert, President, acting as Secretary, on
December 27, 2024.
Approved on December 31, 2024.
Attachment
Email from Paula Steinert to other owners
Sent November 22, 2024
Hi friends,
As I told you a few weeks ago, our insurance rate will go up on November 28 when the policy renews. We call that our fourth quarter but it's the start of the year for our insurance policy.
You may want to read our insurance policy and liability certificate so you know what coverage we have.
Our insurance cost has gone up more than 50% over the last three years:
Year Per quarter ------------------- 2022 827.50 2023 882.00 2024 1038.00 2025 1279.50
Last summer we fired our bookkeeper to save money but the savings have been wiped out by the fourth quarter insurance hike.
Here are our anticipated costs for the coming year. All the items except "Misc." have been authorized by the board. I added "Misc." as a cushion because our reserves are low.
Bank account charge 8.00 x 12 = 96.00
Tax on bank charge 0.65 x 12 = 7.80
Invoice processing fee 4.00 x 3 x 4 = 12.00
Quarterly insurance 1,279.50 x 4 = 5118.00
NM sec'y state filing = 10.00
State taxes = 50.00
Website (host and domain) = 87.00
Misc. (unexpected and reserve) = 400.00
--------
TOTAL 5780.80
Quarterly payment per owner 481.74
Unless you folks have a better idea I suggest we raise the quarterly fee to $481.74.
For more info about our finances, you can see our bank statements on our website. The login info for the owners section of our website is:
username:: [redacted]
password: [redacted]
Best wishes,
Paula
This page was first published on December 27, 2024 and last republished on January 2, 2025.