January 10, 2023

The Board posted notifications for the open board meeting around the neighborhood in accordance with the regulations outlined in the newly restated and amended Brook Hollow Governing Documents.

The January open board meeting was well attended by both board and non-board members (13) of our HOA. President, Jimmy Brown reported that it was the most widely attended board meeting that he could remember. The board expressed appreciation for the interest from members. It was encouraging!

The board implemented a Homeowner/Guest Forum as part of the January board meeting. The “forum” allows members the opportunity to address the board of directors with suggestions, comments, concerns, and issues concerning the HOA. This agenda item will remain as a regular agenda item for future board meetings. No member chose to address the board at the January meeting. However, several homeowners did have questions and comments during the conduct of OLD and NEW Business agenda items.

Andrea Bird presented the 2022-year end income statement and balance sheet. She also presented the draft or proposed 2023 Operating budget. It was reported that the HOA finished 2022 with $24,716.60 in the bank. The 2023 budget includes $480 in funds for Benny Holland to complete a project to implement a Brook Hollow HOA website. The board discussed an issue that the proposed line-item budget of $7500 for “sprinkler system” repair may be insufficient. After discussion, this line-item budget was amended to $10,000. The 2023 operating budget calls for expenses to exceed income by almost $6,000. It was approved by the board and will be presented at the 2023 Annual Membership meeting.

The board and other members present discussed the need to establish a Brook Hollow HOA prudent reserve fund for the first time. The prudent reserve fund establishes money/funds to be accrued by the HOA in anticipation of the costs to replace or make major repairs to large assets owned by HOA. The idea of the prudent

reserve fund is to accrue funds over the course of many years to hopefully avoid the need for “Special Assessments” to repair or replace major HOA assets. These assets include but are not limited to a) the sprinkler system, b) HOA owned walls and fences and c) driveways and alleyways (hardscape) owned by the HOA.

Following a lot of constructive discussion, the board voted to establish or initiate the 2023 Prudent Reserve Fund at $17,500.

Benny Holland outlined the project plan to implement the BH HOA website. The board approved the plan authorizing Benny to proceed with the project. Project funds are included in the approved annual budget.

Paul Morano reported that the Architectural Committee had received one home improvement request for approval since the last board meeting. The committee approved the request.

President, Jimmy Brown reported that nominations for Board of Directors for the 2023 Election are being considered. Jim Kracht has decided to run for another term. Benny Jasso has agreed to run for a position on the board. The nominating committee is considering additional nominees.