Hello Neighbors and Friends,

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Below please find a summary of the August 2017 financial events. 

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Lake Pump and Control Box:

• On July 28, 2017, the lake pump stopped working.

• An insurance claim was filed.  The claim was denied.

• To pay for the new pump, the Cypress Gates Board of Directors voted to transfer $3,850 from the Cypress Gates Reserve Fund to the operating account.

• On 8/2/17 and 8/28/17 separate operating account checks for $3,850 and $379 were issued to the vendor for the pump and control box.

• Both bills are paid in full.  

• Parker Medley and Cyd Dudgeon are reviewing insurance coverage options.

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Security Gate:

• A vehicle collision occurred and the gate arm, arm attachment and gate frame were damaged.

• An insurance claim was filed and approved.

• The gate was repaired on August 26th, 2017.

• The cost to repair the South gate was $1,370.46 (new chassis, clutch block, arm, shipping & and labor).

• The insurance company will pay Cypress Gates $370.46 and Cypress Gates will issue a check to the vendor for $1,370.46.  Insurance deductible = $1,000.00.  Revised 9/2/17.  

• The vendor's invoice will be paid on October 1st, 2017.

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Cypress Gates Phase 1-B Annexation:

• A property owners association attorney was consulted about the annexation of Cypress Gates 1-B into Cypress Gates 1-A (our community).  

• The attorney billed Cypress Gates for $152.50.  

• The invoice is paid in full.

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Cypress Gates is solvent.  

 

Sandra

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Cypress Gates Property Owners Association
Treasurer

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August 31st, 2017.

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