Recap of Board Activity, Oct. 28

Approved Consent Agenda: MOVED and approved the GRF Board Minutes, Sept. 22, 2025; the Interim Financial Statements for August 2025 for Audit; and the ratification vote to amend 10-2000-2, Consolidated Fines.

General: Approve 2026 Budget: MOVED to approve the 2026 Budget as presented, setting an assessment rate at $247.51 per apartment per month, effective Jan. 1, 2026.

General: Approve 2026 Reserve Study: MOVED to approve the 2026 Reserve Study prepared by Association Reserves as presented. The study reports that the reserve fund will be 72.3% funded, with a projected starting balance on Jan. 1, 2026 of $11,697,034. The study recommends a monthly contribution of $245,000 per month in 2026.

General: Targeted Budget Items: MOVED to use targeted budgeting for 11 of the top 12 irregular income/expense items (excluding Holiday Lights).

General: Approve Changes to Capital Fund Cash Interest: MOVED to maintain Capital Fund cash in a separate Capital Fund Money Market Account beginning Jan. 1, 2026, with all interest being transferred to the Capital Account.

For the 2025 Capital Fund interest which has been commingled with the Operating Contingency interest, the Finance Department is to calculate the amount attributable to the Capital Fund and transfer those funds into the Capital Fund as of Dec. 31, 2025.

In the event proof is provided by Oct. 21, 2025 that there is an existing, current policy requiring Capital Fund interest be deposited to the Operating Contingency Fund, there is to be an additional motion: it will be recommended at the October Board meeting that that policy be rescinded.

General: Approve Changes to Capital Fund CD Interest Accrual: MOVED to establish separate Taxable Interest Income account numbers for the Capital, Reserve and Operating Contingency Funds beginning Jan. 1, 2026. These account names should include the name of the funds to be represented.

For the remainder of 2025, the Finance Department should calculate the monthly and cumulative accrued interest for each Fund and provide that information in the Financial reports.

General: Member Communication Policy: MOVED to authorize staff to develop a policy requiring that for any project exceeding $100,000, staff shall prepare a communication plan to be approved by the Board before project implementation—the plan shall outline how information will be shared with Board members and community, including key milestones, anticipated impacts, and opportunities for feedback when appropriate.

Operating Funding: Clubhouse 1 and Clubhouse 2 Light Sensors: MOVED to award a contract to Pacific 3 Electric and approve Operation funding for the installing of light sensors in Clubhouse 1 and Clubhouse 2 large meeting areas, include a 10% contingency for a cost not to exceed $1,980, and authorize the President to sign any needed documents and authorize management to transfer the necessary funds per California Civil Code 5502.

Reserve Funding: Veteran’s Plaza Concrete: MOVED to award a contract to Neos Construction Management for $14,527 to resurface the concrete at Veterans Memorial Plaza add a 10% contingency for a total cost not to exceed $15,980, Reserve Funding, and authorize the President to sign the contract and authorize management to transfer the funds as necessary per California Civil Code 5502.

Reserve Funding: Traffic Signal Modifications Safety Upgrades: MOVED to approve the replacement of the Audible Pedestrian System with Swarco at a cost of $11,658 from Reserve Funds and authorize the President to sign the contract and authorize management to transfer the funds as necessary per California Civil Code 5502.

Reserve Funding: Library HVAC: MOVED to award a contract to Greenwood Heating and Air for the replacement of two of the three HVAC units at the Library (material cost), at a cost not to exceed $23,500, to be funded through Reserves and to authorize the GRF President to sign the contract, and to authorize management to make the necessary funds transfer in accordance with California Civil Code 5502.

Reserve Funding: Clubhouse Chairs Replacement: FAILED to send the Clubhouse Chairs Replacement back to the Member Services Committee for further review.

MOVED to replace 192 chairs (component No. 3205), at a cost of $48,080.64 with a 10% contingency and not to exceed $52,888.70, Reserve Funding, and authorize the President to sign the contract and authorize management to transfer the necessary funds per California Civil Code 5502.

Governing Documents: Tentative Vote Amend 102000-2, Consolidated Fees: MOVED to amend Policy 10-1000-2, Consolidated Fees, pending a 28-day review by membership, and taking effect on Jan. 1, 2026.

Governing Documents: Accept Committee Meeting Minutes for the Month of August 2025: MOVED to approve the changes to policy 48-55363, Gate Security, renaming it Vehicle and Pedestrian Gate Security.

Governing Documents: Amend 48-5580-3, Entry Passes— Procedures: MOVED to send Policy 48-5580-3, Entry Passes, Procedures, back to the Operations Committee for further review.

Governing Documents: Amend 42-2806-1, Community Publications: MOVED to approve the changes to policy 42-2806-1, Community Publications.

Governing Documents: Amend 64-5340-1, Capital Improvement Fund: MOVED to approve the changes to 645340-1 Capital Improvement Fund 5.3 as presented.