Meeting Minutes, March 7, 2015

Meeting Minutes
March 7, 2015
1624 NW Sarkisian Dr., Seal Rock

Call to Order

6:00 pm

Members Present: Rick Hill, Alex Derr, Sue Valentine

Financial Report

No change since last report.

Old Business
None

New Business

We walked around the loop per our March agenda. We noted some nascent potholes just east of the culvert on Sarkisian. No other anomalies. No action planned at present due to lack of funds.

Next Meeting

TBD

Adjourn

7:00 pm

Meeting Minutes, February 28, 2015

Meeting Minutes
February 28, 2015
4938 NW Sandy Dr., Seal Rock

Call to Order
6:30 pm

Members Present: Rick Hill, Alex Derr, Sue Valentine

Financial Report

- Received $100 rebate on insurance. Deposited in Checking.

- Checking account balance: $14305. 

- Our 1099-INT Form reports Checking earned $120.53 in 2014.

Old Business
- We have been considering paying down our paving loan instead of buying another CD. Rick honed our payoff spreadsheet and found this approach would lead to a cashflow shortage at the end of the loan period. We will take the more conservative approach of investing in a CD.

New Business

- Rick Completed and returned the Oregon Department of Emergency Management audit form. 

Next Meeting

March 7, 2015

1624 NW Sarkisian Dr., Seal Rock

Adjourn

7:30 pm

Meeting Minutes, January 9, 2015

Meeting Minutes
January 9, 2015

Call to Order
6:00 pm

Members Present: Rick Hill, Alex Derr

Members Absent: Sue Valentine

Financial Report

- CD value: $0.  Cashed it at maturity ($5465.81) and deposited in Checking. 

- Checking account balance: $14205.31

Old Business
- SDIS insurance policy renewal received and paid: $757.00. ($497 general liability, $260 crime.) We received an 8% reduction for good behavior.

- We are still considering paying down our paving loan instead of buying another CD. CD rates range from a miserly 1.7% to a laughable 0.16%. Meanwhile, we could retire one $5000 bond early, reducing our liability of 5.25% interest, but it could lead to a cashflow shortage at the end of the loan period. Rick is seeking additional assistance from the loan agency. 

New Business

- Rick Hill has been reappointed to the Road District for another 3-year term.

- A new pothole is developing on Powe St. Rick will paint it with some tar when we get a dry day to try to slow down the erosion.

- The gravel on the ends of the Powe culvert suffered erosion in the recent flood. Rick and emeritus committee member Bill Heavenston inspected and brainstormed solutions. No firm plan has been reached. Input is welcome. 

Next Meeting

February meeting is TBD  

Adjourn

7:00 pm

Meeting Minutes, November 22, 2014

Meeting Minutes
November 22, 2014

Call to Order
5:00 pm

Members Present: Rick Hill, Alex Derr, Sue Valentine

Members Absent: None

Financial Report

- Checking account balance: $5665.19

- CD value: $5404.88

Old Business
None. 

New Business

- CD matures on 12/14/2014. Interest rate has been 2.30%. Rick will investigate current CD rates to determine if it is advantageous to put the money back into another CD. 

- Lincoln County tax report states that the total value of Silver Sands properties is $7,195,770. The Road District's maximum revenue is $4317.46 this year. Lincoln County will reduce this payment by ~3% to account for unpaid tax bills. 

- We reviewed our FlexLoan payment schedule estimated revenues for the life of the road paving loan. \

Next Meeting

December meeting is TBD  

Adjourn

6:00 pm

Meeting Minutes, October 25, 2014

Meeting Minutes
October 25, 2014

Call to Order
6:00 pm

Members Present: Rick Hill, Alex Derr, Sue Valentine

Members Absent: None

Financial Report

No change. Previous values follow:

- Checking account balance: $5726.70

- CD value: $5374.67

Old Business
- Annual insurance review: Rick will meet with Tim Grady, Fullhart Insurance, next week to review our policy.

- SDAO insurance discount: We are reviewing applicability of the available discounts. We do not expect a significant impact to our insurance cost. 

New Business

- Lincoln County Special District Training: Rick attended this training session last weekend. He learned about proper posting of public notices, record keeping requirements, and procedures for dissolving special districts (there is no procedure for this, but someone asked). 

- Oregon Ethics Commission payment: paid.

- SDAO dues payment: $120, check signed during the meeting. 

Next Meeting

November meeting is TBD  

Adjourn

6:30 pm

Meeting Minutes, August 15, 2014

Meeting Minutes
August 15, 2014

Call to Order
5:00 pm

Members Present: Rick Hill, Alex Derr

Members Absent: Sue Valentine

Financial Report

- Checking account balance: $5726.70

- CD value: $5374.67

Old Business
Annual insurance review. No change.

New Business

- Secretary of State payment for "in lieu of audit" review: $20, paid.

- Oregon Ethics Commission payment is pending.

Next Meeting

September meeting is TBD  

Adjourn

5:30 pm

Meeting Minutes, May 4, 2014

Meeting Minutes
May 4, 2014

Call to Order
5:00 pm

Members Present: Rick Hill, Alex Derr, Sue Valentine

Members Absent: none

Financial Report

- Checking account balance: $6411.04
- CD value: $5345
- Credit from SDIS insurance: $100

Old Business
- Collections for the repairs to the Powe St. Culvert are complete. The bill has been paid in full.
- DVDs for training to reduce insurance costs have been received.

New Business

- Our bill for the paving loan has been received and paid in full: $918.75.

Next Meeting

June 15 at 6 pm, 1624 NW Sarkisian Dr..  

Adjourn

6:00 pm