Virginia City Highlands Property Owners Association

Minutes – Monthly Meeting, Tuesday March 11, 2008

Virginia City Highlands Fire Station Training Room – 7:00 p.m.

Present:          Mary Tallent-Stewart, Bill Lewis, Rita Lumos, Mike Lupo

Absent:           Steve Morrow

I.         Call to order, declaration of a quorum and approval of meeting agenda

President Lumos called the meeting to order at 7:05 p.m. and declared that a                  quorum was present.

II.       Approval of minutes of February 12, 2008 regular meeting

Minutes reviewed for the meeting and motion made by Bill Lewis to approve with second by Mike Lupo.  Motion carries.

III.      Financial Statements (Discussion/Action)

A. Monthly Cash Report

B. Monthly Financial Statements

The financial statements were reviewed with the attendees.  Balance in checking is $82,613, savings $139,760.  Miscellaneous income receivables $31,503.  Cash balance total is $250,386.  Estimated expenses of $6,255 include utilities, administrative expenses, plowing and equipment maintenance.  Storey County refunded $3200 to the Association for paving the driveway at the rental house.  Motion by Bill Lewis to accept the financials was made with a second by Mike Lupo.  Motion carries.

IV.       Comments by Association Members (NRS 116.3108(3))

             None to Report

V.        Reports

            A.  Architectural Committee

One set of plans for an addition on Sazarac were submitted and a $75 fee

                   was collected.

B.  Documents

                  None to Report

            C.  Road Report

Bob Moore gave the report for February.  Maintenance issues with the plow

                  trucks were resolved.  The larger truck needs stock tires and steel rims

                  instead of the oversize ones on it now.  The heater was also repaired.  The

                  grader is now being used as weather permits and Ray Robbins fixed the

                  damaged rim.  Gravel was placed on Hermit to combat the mud.  Six boxes

                  of  ¾ inch were used.  Many hours were spent plowing snow.  There is a

                   home on Grizzley and Adobe where vehicles are parked that present a

                   problem when grading and plowing and Bob would like the Board to

                   look into the issue.  Bob scarified Dortort to Sazarac and Sazarac to

                   Cartwright Road and did not use the roller.  Next is Saddleback and

                   Applegate.  Lots of time was spent on Sazarac and Empire Roads this

                  month.  Bob would like Steve Morrow to look at Grizzley before they do

                  anything to it.  Rita went over the Road Committee report explaining that

                  the focus is on traditional road repair, grading/crown establishment and

                  scarifying with drum roller and the use of imported materials.  Quality

                  control was discussed as well as appropriate training of operators. 

                  prior to the next Board meeting a road budget will be prepared.  Culverts

                  continue to get plugged and more home owner action is needed to help

                  eleviate this problem.

D. Water Truck – The tractors is done except the rear brakes.  Four or five

                   more days should see it looking good if weather permits to get the tank

                   on and re-plumbed.

E. Reserve Study – Rita has sent a letter to the specialists in Las Vegas and

Sacramento with no response as yet.

No Park Report this meeting

VI. New Business

Separation of bank accounts was discussed, we need more than one savings

account and need to keep the operating funds separate.  CD rates for short term investment was discussed.  A motion to separate the account was made by Bill Lewis with a second by Mike Lupo.  Motion carries.  Investments

with higher interest rates will be researched.

VII.       Any Other Matters Which The Board Members Wish to Discuss

      None to report.

   VIII.      Adjourn 8:00 p.m.

   Respectfully submitted

   Mary Tallent-Stewart

   Secretary