HARBOUR VILLAGE PROPERTY OWNERS ASSOCIATION, Inc.
Minutes of Annual Budget Meeting
November 24th 2009
President, Rich Moreau, called the meeting to order at 9:00 am.
Board Members Present: In person were: President: Rich Moreau, Vice President Brian Kirkpatrick & Director Ty Bevington, via teleconference was Director: Bill Lander, thus establishing a quorum. Also present was Peter Grant, representing Peter Grant, Inc. the Association’s Management Company.
Notice of Meeting: A Meeting notice with agenda was posted in the normal manner in accordance with the Association Bylaws and Florida Statute #718.
Approval of Minutes: Bill Lander made a motion to approve the minutes of the 10/27/09 Board Meeting as previously distributed. Second by Brian Kirkpatrick. All in favor. The motion passed 4:0.
Financial Report: Management presented draft financial statements as of 10/31/09 showing that the Association has $270,428.94 in cash or cash equivalents and $277,416.86 in total assets. The October and YTD budget variance reports were discussed and various questions answered. The current budget status shows $11,488.48 under budget year to date.
· Entry Gate Project: Management answered various questions about the status of the gate project, advising that it is ready for permits and commencement.
· Hose Bibs: A delay in the replacement of the hose bibs was proposed until after the winter season.
· Mail Boxes: Rich Moreau advised that this project is almost completed and new flags will be installed shortly.
· Stair Carpet: Rich Moreau explained the need to replace the stair carpet throughout the complex and explained that his research showed it should cost approximately $2,950.00 . Rich Moreau made a motion to approve the expenditure of up to $3,000.00 for carpet replacement. Second by Brian Kirkpatrick. All in favor. The motion passed.
· Fishing Pier: It was agreed that a policy be adopted prohibiting net fishing from the pier due to the damage being done to the bird coils. A sign should be made and installed advising of this policy.
· Rules Enforcement: Brian Kirkpatrick described an ongoing problem with pet rules and requested that Management update the signs in the entryway and implement a written violation notification policy for residents not following the rules & regulations.
· 2010 Budget: Management led a line by line discussion of the proposed 2010 budget explaining the areas of increase such as flood insurance, sewer & water. The proposed increase of $15.00 is actually less than the increases in the various line items. Where the Board had discretion they adjusted certain items down to contain the increase to the proposed $15.00. Brian Kirkpatrick made a motion to adopt an annual budget for 2010 in the amount of $382,308.67 with monthly dues of $410.00 . Second by Ty Bevington. All in favor. The budget was officially adopted.
The next Board meeting will be on January 12th 2010 at 9:00AM
There being no further business before the Board Rich Moreau made a motion to adjourn. Second by Bill Lander. All in favor. The meeting was adjourned.