Highlights of the Jan. 15 YLOA and YSPUC board meetings
The YLOA Board of Directors voted to approve these recommendations from the Finance Committee:
• The board treasurer and one director review documents and statements as required by a new state law AB2912, which is intended “to protect the owners in a common interest development from fraudulent activity by those entrusted with the management of the association’s finances.”
• Change the YLOA fiscal year from June 1 through May 31 to July 1 through June 30 beginning July 1, 2019. In addition, amend the Articles of Incorporation to reflect the new fiscal year timeline. Rationale:
— This move will align our revenue stream with our assessment schedule.
— According to the IRS, a fiscal year should coincide with the organization’s natural operating cycle which this move does provide.
— The schedule for collection of assessments will not change.
— This change of Fiscal Year brings our election process, annual budget and policy disclosures in compliance with Civil Codes 5300 and 5310.
• Approve the Yosemite Lakes Owners’ Association Financial Statements and Supplemental Information Year End May 31, 2018.
• Approve transfers of funds according to terms of Civil Code 5502, with any transfer over $10,000 requiring written board approval.
The board also:
• Approved Ladies of the Lakes’ activity calendar for 2019 to use YLP facilities free of charge.
• Authorized the general manager to go ahead with replacing the broken air conditioning system for the Yosemite Grill at a projected cost of $9,500. Two new units to be installed are much more efficient. The money will come from reserves.
• Directed that staff implement live Internet streaming of monthly board meetings by the end of the current fiscal year.
• Directed that staff offer videos of board meetings in a public area of yosemitelakespark.org within three days of each meeting.
Also at the meeting, Jack Fulcher was introduced as the new captain of Madera County Fire Station No. 10 in YLP.
For more details of the meeting including the General Manager’s report, check our public documents below and sign up for our weekly email newsletter YLP Live at right.