Posted: 10 February 2009 at 12:26am | IP Logged

Notice of Annual Homeowners’ Meeting

Date/Time/Place:  Monday, March 2, 2009 / 7:30 p.m. / Sunrise Elementary School Library

The meeting will be held on March 2^nd for the following reason:

·   Sunday, March 1^st is a legal holiday in Washington State (see  RCW 16-60-100)

·   Our bylaws state: “If March 1 falls on a legal holiday, the meeting will be held at the same hour on the first day following which is not a legal holiday”.

Elections:  We will be holding elections for three board positions as we do at every annual meeting and we need volunteers to serve! This is a great opportunity to provide input as to the direction of our community.

Architectural Control Committee:  We need help here too! If you are interested in being part of the ACC, please come to the meeting for more information.

Other items for discussion and possible vote at the annual meeting: The board feels the following items should be considered for discussion and possible vote at the annual meeting.

·   Amend the bylaws to change the annual meeting date. Since March 1st fell on a Saturday last year, renting the school library was more expensive. This year, March 1^st falls on a legal holiday. The board is proposing amending the bylaws to set the meeting date to a specific day of the week each year. One suggestion is “The First Tuesday in March at 7:30 pm”. Please come and voice your opinion. NOTE: To amend the bylaws at our annual meeting, a majority vote of a quorum present, in person or by proxy, is required.

·   The 1995 Homeowners Association Act requires audited financial statements for associations with annual incomes of $50,000 or more. The association crossed the $50,000 threshold in 2008. As a result, the board is having the books audited for 2008 at a cost of approximately $2,500. In the past, we have had the books reviewed annually at a cost of approximately $1,500. The association’s attorney has advised the board that the HOA can vote to waive the audit requirement by a 67% majority vote of the quorum at the annual meeting. The board would like feedback from the community on the following:

-   Should the financials continue to undergo an audit each year as required?  OR,

-   Should the association waive the audit requirement in favor of a review?  OR,

-   Should the financials be reviewed some years and audited other years, i.e. every third year?

We look forward to seeing you at the annual meeting. If you cannot attend, please be sure to complete your proxy and give it to a neighbor who will be attending, or to a board member, prior to the meeting.

Sincerely, 

EHHoA Board Members