Finance Committee Minutes – April 17, 2019

Finance Committee

Meeting Minutes

April 17, 2019

 

Members Present:  Linda Hartmann, Jennifer Reuter, Mary Anna Taylor, Kyle Packer, Bonnie Starks, Lee Steczynski

Members Absent: none

Board Liaison: Bob Starks

Guests:   Bruce Keller, Marla Ratliff (introduced to committee)

 

 

Approval of the March Finance Committee Meeting Minutes 

Motion by: Mary Anna Taylor

Second by:  Bonnie Starks

Voting record: all in favor

 

Review and Approval of March Financial Reports– Kyle noted that revenues were behind plan. This is due to delays in dock rentals pending the completion and availability of the floating docks. Kyle also indicated that some banks including First Financial are offering 2% rates on money market accounts. We will consider switching after monies are expended for the docks and paving to evaluate how this might impact cash accounts.

 

Motion by:  Mary Anna Taylor

Second by:  Bonnie Starks

Voting record: All in favor

 

Report from Bruce Keller – Bruce indicated that there will be significant cash outlays in May that include $230,000 for paving (includes allocated dollars not spent in 2018) and remaining expenditures on the new floating docks. Estimated costs for the docks increased to $280,000 because the supporting poles must be set in concrete by divers as the underlying bedrock depth is insufficient. Allocation monies have been removed from Future Property Purchases. Bruce also indicated that no acceptable bids were received for the upper beach shelter and marina shelter projects. New RFQs will be released.

 

Report from Bob Starks – Bob indicated that the board has tabled the suggestion of having dues increases tied to annual COL amounts in favor of annual reviews of proposed budgets. Any proposed increase would be voted on in December with a July effective date that year. Bob has volunteered his skills and labor to tie-in the attendants’ station to the original building on the beach. The existing shed will be sold to the Community Gardeners, and Bob has agreed to a barter arrangement whereby his lots on Longview will be cleared by Maintenance and/or Natural Resources personnel.

Old Business:  The committee met privately to review the bid proposals for the development of the lots along Fairway Drive. Bruce was informed of our recommendation; however, there appears to be a question regarding the adequacy of sewer and water hookups that needs to be investigated further.

 

New Business:  None

 

Motion to Adjourn

 

Motion by:  Bonnie Starks

Second by:  Jennifer Reuter

Voting record: All in Favor

 

Meeting adjourned at 5:29 p.m.

 

 

NEXT MEETING TO BE HELD ON Wednesday, May 15, 2019 at 5:00 pm

 

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