CALL TO ORDER
& VERIFICATION OF QUORUM
The meeting was called to order at 7:00 p.m. by
President Mark Kramer. Also present were board members Al Holowinski
(Treasurer), Jason Johnson and Clyde Simmons (Secretary), as well
as John O'Connor of Pristine Communities, Inc. Board members Ross
Fife (Vice President), Tom Flenner and Sheila Haulter were absent.
President Kramer noted there was a quorum.
HOMEOWNERS FORUM
No owners were present, so a homeowners forum was
not held.
APPROVAL OF SEPTEMBER 10, 2003, MINUTES
After discussion, motion was made, seconded, and
passed unanimously to approve the September 10, 2003, minutes.
The minutes will be posted on the website.
MANAGEMENT REPORT
Mr. O'Connor reviewed key points of the September
2003 financial statements, as follows:
- Income year-to-date $ 100,600 budgeted $ 100,800 actual
- Operating expense year-to-date $ 92,300 budgeted $ 83,800 actual
- Net operating income year-to-date $ 8,300 budgeted $ 17,000
actual
Mr. O'Connor noted that operating expenses were
adjusted for water feature renovation, water feature electrical
and replacement of entrance walls, which are reserve expenses.
Mr. O'Connor also reviewed for the board the status
of several delinquencies.
OLD BUSINESS
Status of Landscaping on Mount Royal Drive-Mr.
O'Connor updated the board on this issue. He advised the board
that the landscaping had been completed and the levy of fines
had terminated.
NEW BUSINESS
2002 Audit Report-The Board reviewed the
draft audit report prepared for the year 2002 by Larry O'Donnell,
CPA. After discussion, a motion was made, seconded and approved
to accept the audit report as submitted.
ADJOURNMENT
At 7:30 p.m., a motion was made, seconded, and passed
unanimously to adjourn the meeting.
NEXT MEETING-Wednesday, November 12,
2003, 7:00 p.m. at Plum Creek Country Club, in the Plum Room.