The record
Governance record
Everything on this page comes from documents the association itself produced — board meeting minutes and the financial statements distributed under Civil Code § 4525. Where we have drawn an inference, we say so. Where we have an open question, we label it as a question rather than an answer.
If you believe any entry here is inaccurate or missing context, tell us and we will correct it. Accuracy is the entire point.
Who Runs the Association
The Board of Directors consists of five members under Bylaws Article IV, Section 1, all of whom must be owners of condominiums in the project. Directors serve three-year staggered terms.
Current directors🔗
As recorded in the October 23, 2025 regular session minutes:
| Director | Office | How seated |
|---|---|---|
| Tricia Halsema | President | — |
| Jan Furstenfeld | Vice President | — |
| Ambert Fish-Madison | Secretary | — |
| Georgia Taylor | Member at Large | Appointed by the board, May 22, 2025 |
| Greg Atherton | Member at Large | Appointed by the board, June 26, 2025 |
Hani Hassan served as a Member at Large during the first half of 2025 and does not appear in minutes after July 17, 2025.
Officers are elected by and from the board itself, not by the membership (Bylaws Article V, Section 2).
Managing agent🔗
Pernicano Realty & Management Inc. serves as the association’s managing agent. Philip Bower, CCAM is recorded as present at every 2025 board meeting in the minutes we have reviewed, and signs the Annual Budget Report on behalf of the Board. There is more on the managing agent and what they can and cannot decide.
The managing agent is a vendor engaged by the board under Bylaws Article IV, Section 5. Management is not the board, does not set policy, and works at the board’s direction. Under our Election Rules § 4.1, the association’s management and attorneys are expressly barred from serving as inspector of elections.
Why “how seated” is on this table🔗
Two of the five current directors reached the board through appointment by the sitting board rather than through a vote of the membership. That is expressly permitted by Bylaws Article IV, Section 7, which allows remaining directors to fill vacancies by majority vote.
We include the column because it is a material fact about how this board came to be constituted, and because it follows directly from the January 2025 cancellation of the annual election for lack of candidates. It is not an allegation of wrongdoing. It is a description of what happens to a governing body when no one runs.
Meetings🔗
Regular board meetings are held monthly, on Thursdays at 6:00 PM, conducted by Zoom video conference. Members have the right to attend the open session and to address the board (Civil Code § 4925). See Meetings, Agendas, and the Open Meeting Act for the notice requirements that apply to virtual meetings.
Timeline
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Annual meeting and election — five seats, four candidates
All five board seats are on the ballot, and four members were nominated: Greg Atherton, Lori Barker, Jan Furstenfeld and Tricia Halsema. With fewer candidates than seats, one seat is left for the incoming Board to fill by appointment under Bylaws Art. IV § 7. Ballots must reach the Inspector of Elections by 1:00 PM; the meeting begins at 5:00 PM by Zoom.
Source: Notice of Annual Meeting & Election of Directors, HOA Elect CA
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Ballot packages mailed for the September election
The notice states that candidate statements, election materials and voting instructions would be mailed on or before August 17, 2026.
Source: Notice of Annual Meeting & Election of Directors, HOA Elect CA
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Candidate nomination deadline for the 2026 election
Nomination forms were due to HOA Elect CA by June 28, 2026. Four members were nominated for the five seats on the ballot.
Source: Board of Directors Candidate Nomination Form, HOA Elect CA
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Independent accountant completes a review — not the audit the Bylaws require
Stephen DeMaine, CPA, issued an Independent Accountant's Review Report on the December 31, 2025 financial statements. The report states that "a review is substantially less in scope than an audit" and expressly declines to express an opinion. Civil Code section 5305 requires only a review at this income level, but Bylaws Art. IV Sec. 4 requires the Board to obtain "an independent certified audit" and deliver a copy to each member within thirty days of completion.
Source: Independent Accountant's Review Report, Stephen DeMaine CPA, March 12, 2026
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Accountant discloses $619,181.85 of association funds above FDIC limits
A note to the reviewed financial statements reads: "As of December 31, 2025, the Association's deposits in one bank exceeded F.D.I.C. insurance limits of $250,000 by $619,181.85. In the event of bank failure, the Association might not be able to recover uninsured cash." Spreading deposits across institutions is ordinary practice and within the Board's power to arrange.
Source: Notes to Financial Statements, December 31, 2025 — Concentration of Credit Risk
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Reviewed statements describe reserve funds as held in separate accounts
The note on future major repairs states that accumulated replacement funds "are held in separate accounts and are generally not available for operating purposes." Management's own balance sheet for the same date shows $330,115.92 of cash in the reserve account and $209,538.20 owed to the reserve fund by the operating fund. We do not know how these two statements are reconciled, and that is the question Civil Code section 5515 exists to answer.
Source: Notes to Financial Statements, December 31, 2025 — Future Major Repairs and Replacements
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Year-end financials show $209,538.20 loan from reserves
The fund balance sheet as of 12/31/2025 records a $209,538.20 "Loan from Reserves" to the operating fund, against total reserves of $539,654.12. Reserve borrowing is lawful, but Civil Code § 5515 requires the board to document the reason in open session and adopt a written repayment plan, generally within one year. Whether that documentation exists is an open question the Coalition intends to resolve through a records request.
Source: Financial Statement Review as of 12/31/2025
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$63,313.92 in special assessment income recorded for 2025
The income statement for the year ending 12/31/2025 records $63,313.92 in special assessment income against a $0 budgeted figure. The February 13, 2025 notice identifies it as the 5% assessment permitted by Civil Code § 5605(b), at $329.76 per unit.
Source: Financial Statement Review as of 12/31/2025; Special Assessment Notice, February 13, 2025
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Annual Budget Report distributed — reserves disclosed at 28.7% funded
The FY2026 Annual Budget Report, dated November 1, 2025, discloses that the association's reserves are 28.7% funded, against a fully funded requirement of $1,896,764 — a deficit of $1,353,177, or $7,048 per unit across 192 units. The report quotes the industry scale it is measured against: "0% - 30% = WEAK. At this level of funding, Special Assessments and deferred maintenance are likely."
Source: FY2026 Annual Budget Report and Annual Policy Statement, November 1, 2025
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Board discloses that a special assessment is anticipated
In the disclosure required by Civil Code section 5300(b)(5), the Board states that it "does anticipate that a special assessment will be required to repair, replace, or restore any major components or to provide adequate reserves," citing insurance increases, SB 326 balcony work, landscaping, building maintenance and repaving. This is in addition to the 20% dues increase effective January 1, 2026.
Source: FY2026 Annual Budget Report and Annual Policy Statement, November 1, 2025
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Reserve study projects the reserve fund going negative for five years
Taking into account only assessments already approved, the reserve study projects the reserve fund cash balance at the end of each of the next five years as -$114,430, -$290,428, -$416,232, -$425,502 and -$392,124 — percentages funded of -8.7%, -23.8%, -35.3%, -33.8% and -28.4%. That projection rests on the study's own funding option of $85,471 a year — the FY2025 allocation of $82,982.40 plus its 3% inflation assumption. The budget the Board adopted allocates $225,058.08, or $97.68 per unit per month, above the study's recommended $99,578 ($43 per unit per month).
Source: FY2026 Annual Budget Report, Assessment and Reserve Funding Disclosure Summary
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Budget report states the Association has no outstanding loans
The statement of outstanding loans required by Civil Code section 5300(b)(8) reads in full: "The Association has no outstanding loans." That disclosure concerns loans with a term of more than one year, which an internal transfer between the operating and reserve funds is not — so this is not necessarily inconsistent with the $209,538.20 "Loan from Reserves" on the year-end balance sheet. It does mean the reserve transfer is not disclosed anywhere in the budget report.
Source: FY2026 Annual Budget Report, section I.3
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2026 budget approved with a 20% dues increase
The board approved the 2026 draft budget with a 20% increase to monthly dues. Civil Code § 5605(b) permits a board to raise regular assessments by up to 20% without a membership vote; this increase sits at that ceiling. Two of five directors were recorded absent from this meeting.
Source: Regular Session Minutes, October 23, 2025
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Reserve study draft approved
The board approved the reserve study draft prepared by Sonnenberg & Company.
Source: Regular Session Minutes, October 23, 2025
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Board briefed on AB 130 fine cap
Management informed the board that under AB 130, a unit may be fined a maximum of $100 per issue, and that no fine may be assessed where the violation is remedied before the hearing with proof of resolution. Legal counsel was directed to update the fine policy.
Source: Regular Session Minutes, July 17, 2025
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Annual meeting set for December 3, 2025
The board was informed that "the current annual meeting date is set for December 3rd, candidacy forms will be mailed very soon." December 3 is neither the second Wednesday of September that Bylaws Art. III § 3 fixes, nor the third Thursday of August that the Rules and Regulations state.
Source: Regular Session Minutes, July 17, 2025
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Greg Atherton appointed to the board
The board voted to appoint Greg Atherton as a director. As with the May appointment, this seat was filled without a membership vote.
Source: Regular Session Minutes, June 26, 2025
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Georgia Taylor appointed to the board
The board reviewed candidates who requested to serve and appointed Georgia Taylor as director at large for the remainder of an open term. Appointment by the sitting board is permitted under Bylaws Article IV, Section 7, and does not involve a membership vote.
Source: Regular Session Minutes, May 22, 2025
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Fine policy revision contemplates $1,000 dumping fine
The board confirmed a fine policy update including a $1,000 fine for dumping in common areas and an increase in hearing notice fines from $50 to $100. AB 130, signed the following month, capped most fines at $100 and requires a documented health-or-safety finding to exceed it.
Source: Regular Session Minutes, May 22, 2025
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Special assessment of $63,313.92 noticed — 5% of budgeted expenses
The notice states the assessment "is 5% of the Associations annual budgeted expenses and is in accordance with Civil code Section 5605(b)" — that is, the largest a board may impose without a membership vote. It works out to $329.76 per unit, payable in one instalment from April 1, 2025 or six of $54.96, with the balance due by October 1, 2025. The stated cause is insurance: the Board budgeted $350,000 for 2024-2025 and was met with $544,752, an increase of nearly $200,000 in one year. The notice also records that an Emergency Special Assessment had been passed the previous year over an insurance increase of almost $150,000.
Source: Special Assessment Notice, Pernicano Realty & Management, February 13, 2025
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Annual meeting and election cancelled — no candidates
Board minutes record "the recent cancellation of the annual meeting due to no applicants sending in candidacy forms causing the meeting to stop its process." With no contested field, no ballots were distributed and no election was held.
Source: Regular Session Minutes, January 16, 2025
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Special assessment notice draft approved
The board approved a special assessment notice draft, pending revisions.
Source: Regular Session Minutes, January 16, 2025
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Annual meeting fails for want of quorum — 51 ballots of 192 members
The Inspector of Election certified that 192 members were entitled to vote, that quorum was not reached in person or by absentee ballot, and that 51 valid ballot return envelopes were received. The ballots were never opened. The meeting was adjourned "until the next Annual Meeting" and the sitting directors remained in place. Fifty-one of 192 is 26.6% — above the 20% quorum Civil Code § 5115 allows for a properly noticed reconvened election meeting, which took effect six weeks before this meeting was held.
Source: Report of Inspectors of Election, Lisa Schwartz, February 15, 2024
Nothing matches that.
Verify any of this yourself
Every document referenced on this page is one the association is required to make available to owners. You do not need our permission or the board's to see them, and with one narrow exception you do not need to give a reason for asking.
See Getting Association Records for the request procedure and the statutory deadlines that apply.