In keeping with our goal of increased communication and transparency, we are providing a general update on our progress.
– The Board of Directors made the following Officer appointments: On February 5, 2023, Peggy Lindsey was appointed as Vice President allowing Laszlo Kubinyi to return to the sole role of Director. On May 24, 2023, Bill Keenan was appointed as Treasurer allowing Justin Dennison to return to the sole role of Director. Justin will begin a slow transition of Treasurer responsibilities over to Bill. Now all Board of Director and Board of Officer positions are filled. We may consider expanding the Board of Officers in the future to include Officers at Large to assist with the administration of the association. If you are interested in volunteering, please let us know.
– Because of the untimely filing of Federal tax returns from 2008 to 2021, BSWUA has paid a total of $11,680.30. According to the IRS, late penalties were only attached to the 2011, 2016, 2017, and 2021 filings. It looks like they may let us off the hook for the ten other late filings. The Board of Directors submitted reasonable cause abatement requests to the IRS for consideration. The IRS has processed the abatement for the 2021 filing and has refunded $3,806.06 to BSWUA. We will continue to pursue abatement and refund for the 2011, 2016, and 2017 filings hoping to recover the remaining balance of late penalties paid.
– The 2022 tax filing was filed timely and accepted by the IRS.
– The Board retained a Montrose law firm for the purpose of collecting a debt against one delinquent tapowner. A demand letter was sent and the tapowner paid the delinquent balance on the account of $5,293.44. The law firm closed the account and returned the unspent retainer. The tapowner was billed for attorney’s fees for collection pursuant to our Bylaws.
– The Board has finished converting historical paper records to electronic and now stores them on a shared drive for all board members to access.
– The Board has created a continuity “binder” for Treasurer so important tasks like filing taxes are not forgotten.
– The Board has finished updating mailing and email addresses of all association members. Please keep us informed of any change in your email or mailing addresses.
– On April 25, 2023, the Board of Directors voted to close the 6-month CD at Citizens State Bank of Ouray that has been allowed to rollover for over four years paying just 0.1% interest and open a new 12-month CD at Live Oak paying 5% interest. The Board also approved moving excess money from checking and the majority of its savings paying just 0.05% to a new Savings account at Live Oak paying 4% interest. The purpose of moving our holdings to high-yield accounts is to use the interest earnings to help offset costs of administering the organization which are the maintenance fees that we normally add to annual water expenses.
– The Board of Directors will begin a comprehensive review and update of the 2017 Bylaws with the intent of approving an amendment to go out to membership with the annual meeting notice. The intent of the revision is to better clarify roles and responsibilities and to modernize the billing process for convenience to the volunteers that administer the organization while also saving money from having to subcontract the work to third parties.
– The next Annual Meeting will occur on Wednesday, August 23, 2023 at 6:00 p.m.in the downstairs conference room of Citizens State Bank of Ouray on 6th Street. All are welcome and encouraged to attend. An official notice will be sent in July.
If you have recently changed mailing or email addresses or phone numbers, please send information to bswuassociation@gmail.com. If you have any questions or concerns about your water billings, please contact the Treasurer at bswuatreasury@gmail.com. Last, but not least, if you have a water emergency, please contact Phil Blackford at 970-325-4521 or 970-596-3145 followed by one of the following board members: Jen Sawyer/970-975-0254; Peggy Lindsey/970-596-1219; Bill Keenan/303-877-9740; or Jackie Fritsch-Bremer/410-271-6480. Please join our Facebook group at Bachelor Switch Water Users Association.
We appreciate the trust you have placed in us to manage this association. We take the responsibilities you have entrusted to us seriously and aim to improve the effectiveness and efficiency of this association