Board Meeting Minutes – May 30, 2017

Pinelands Public Improvement District

Board Meeting Minutes – May 30, 2017

Location: 232 Huntington Hollow, Brandon MS 39047

Present: Kevin Prince, Lori Voss, John Everitt, Marion Alford, Marti Morgan, Kristi Thompson (Accountant for PPID)

Meeting called to order at 5:39 pm.

  • Sign Oaths of Office (5) – Kristi Thompson distributed, all signed and notarized.

  • Kristi Thompson with Barlow and Co, CPA in Brandon gave a brief history of her professional involvement with the PPID. Barlow and Co. have been involved with the PID audits for a decade. Some time ago it became apparent they needed someone to carry out PID business. PPID Bylaws support and allow the hiring of a District Manager, however, she is not serving as a District Manager as Barlow’s CPA firm E & O insurance does not permit her to do so. She instead was hired by the previous Board as the PPID Accountant to get caught up on bookkeeping and preparing for required audits from 2014, 2015 and 2016 and to perform administrative tasks. She bills us for her time spent on PPID business. Bill for last 2 months was $1975. We have a new engagement letter with Arnold CPA, LLC for the 2014, 2015 and 2016 audits. PPID has turned over audits to Jeff Arnold, CPA , who has drafted audit reports and by the next meeting will be able to reviewed by the Board. Discussed adjustments and relationship and keeping the Tax Assessor and Tax Collector’s office in synch. PPID decides on the amount of the assessments for property, then once that amount is determined and reported to the Tax Assessor, the Tax Assessor’s office adds the PPID assessment on the tax bill. Tax Collector collects and remits to Hancock Bank. Hancock Bank was the trustee for the original bond issue, and they worked with PID Attorney David Morrow. The PPID Board stopped having David Morrow take minutes in 2012 and apparently stopped having regularly scheduled meetings around that time. No official board minutes were available from April 2012 through July 2015.

  • Approved certified election results for new PPID Board Members – Kevin made motion to officially certify the results as reported by David Morrow, attorney for the election. John seconded, motion carried unanimously.

  • Election of officers:

  • Lori made motion to nominate Kevin Prince for President, John seconded. Motion carried unanimously.

  • Kevin made motion to nominate Lori Voss for Vice-President, John seconded. Motion carried unanimously.

  • Kevin made motion to nominate John for Secretary/Treasurer, Lori seconded. Motion carried unanimously.

  • Officer Slate:

  • John Everitt – Secretary/Treasurer

  • Lori Voss – Vice-President

  • Kevin Prince – President

  • Prior minutes approval – Only minutes to approve are from the last prior board meeting to consider landscape contract bids. Kevin approved as he was the only Board member present to verify content. Minutes will be posted to website: http://hughwardpid.com .As a process going forward, minutes will be sent via email after the meeting, with an email vote, plus ratification at the next regular board meeting. All in favor.

  • Financial Report – Bank Accounts – Kristi will send a complete report to Board at a later date. She keeps books for the PPID in Quick Books. She has current copies of statements for inspection. Two of the accounts Kristi can confirm: The Special Assessment Fund, with a current balance of $1,019,207 is with the Hancock Bank. This account is used for recording all the tax revenues collected by the Tax Collector and the funds are transferred to the operating account at Trustmark to pay for everything operational. Several other accounts with Hancock Bank are: the Interest Fund - $325 with Hancock Bank, the Principal Fund - $0 with Hancock Bank, the Debt Service Fund with Hancock Bank with a balance of $601,318.74. There is also a Redemption Fund with a balance of $0, and a Construction Fund with a balance of $40. There is an additional operating account with Hancock Bank that has a balance of just under $10K (Kristi does not have access to that one). There is an operating account with Trustmark National Bank with just over $100K in it for daily bill payments. We will need an official copy of the Board minutes with vote by the Board of Directors to change signatures on bank accounts and allow Kristi to gain access to the accounts. Marti made motion to change account access and signatures to Kevin Prince as President, John Everitt as Secretary/Treasurer, and Kristi Thompson as Accountant for the PPID. Lori seconded, motion carried unanimously.

  • Litigation with Hancock Bank involving fraudulent money transfers from PPID accounts, money stolen: Board was informed of the details and was advised there was a confidential settlement executed by former Board President Candy Hutchison. Board will look into our insurance package to see if it covers crime insurance and if we are past the time limitation to file, and if we can file in light of a settlement with the bank. State Auditor’s office may be consulted. Kevin to meet with our attorney to discuss.

  • Pending lawsuit against PPID Board from Pinebrook HOA Board – Discussion around suit. No monetary damages and in reading letter from insurance company, they will only pay legal fees to defend the PPID, no legal fees to the plaintiff. As representative of Pinebrook, Lori Voss stated the Pinebrook Board will be assessing the future of that lawsuit at their next meeting.

  • Invoices outstanding - $3123.16 for two grass cuttings from the Grounds Guys. John made motion to approve and direct Kristi to pay these invoices immediately, Kevin seconded. Motion passed unanimously.

  • Invoices outstanding- water bills from City of Flowood – approximately $6,200. Discussed reasons (water leak and no repairs by PPID for a length of time). Marion offered to discuss with Mayor Rhoads to see if an agreed settlement can be made and will report back.

  • Budget Review – received copies of last year’s budget with an eye towards setting budget and setting assessments for next year. Kristi to firm up numbers and insert amounts from landscape contract once awarded.

  • Damage to median on Hugh Ward Parkway from auto accident. Kevin obtained police report, John contacted Shelter Insurance to give them information. Kevin is obtaining quotes for repair/replacement of landscaping and irrigation, and will forward them when complete. Driver was insured and we expect to make complete financial recovery.

  • Hugh Ward Parkway grass cutting, trimming, weed control bids. Kristi will open at her office tomorrow, scan and email and we will review and discuss.

  • Brief discussion on streetlights, will discuss further at the next meeting.

  • Next meeting: June 26, 2017, 5:15 p.m. at Blair and Bondurant Law Office, 1368 Old Fannin Rd, Suite 300, Brandon MS 39047.

  • Meeting Adjourned at 7:48 pm.

Respectfully submitted,

Kevin Prince, PPID Board President

John Everitt Jr., PPID Board Secretary Treasurer

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