The meeting of the South Bay Community Association (SBCA) Board of Directors was held at the Bay Club on the above date. Directors present were: Joe Kelly, Dan Meade, Tom McCay, Ken Snider, Sharon Walker, and Chris Whitehurst.
Dan Meade called the meeting to order at 9:00 AM. A quorum was present.
•Prior Meeting
Minutes:
MSP to approve the March meeting minutes as amended. (All ayes)
MSP to approve the April meeting minutes. (All ayes)
•Financial Report:
Chris Whitehurst reported the financial highlights for March, showing the Total Current Assets for the month to be $353,300.48 and Total Assets to be $567,568.65, with an increase of $32,359.41 over last year’s Total Assets. The Income Statement for March showed Total Revenues of $5,221.09 and Total Operating Expenses of $27,818.46, with a Net Operating Surplus of $30,711.56 for the current fiscal year. The Maintenance Reserve is $173,737.93 and the Renovation Fund is $116,556.39.
MSP to accept the Financial Report for March 2009. (All ayes)
•Correspondence:
An April
8 letter from Marianne Barber was received and noted.
Committee Reports
SBCA ARC:
Linda
Colasurdo asked to have Jerry Perlot approved as the replacement for Roy Craft
on the ARC.
MSP to approve Jerry Perlot as member of ARC.
(All ayes)
Long Range Planning Committee:
David
Reid presented the lighting project plan and cost for the SBCA auditorium.
MSP to approve the lighting bid at an approximate cost of $47,500.
Meeting adjourned to Executive Session at 10:59AM Next monthly meeting:
Friday, June 5, 2009
The Bay Club at 9:00AM
Joe Kelly
Secretary, SBCA
Financial Reports March 2009 Income Stmt. Bal. Sheet