Attendees:
Dave Armitage, Richard Grieves, Steve Shanklin, Howard Koester, Mike Morgan
and Christine Whitehurst. Guests:
7
SBCA members
and SBCA Staff.
Meeting called to order at
9:30
a.m.
Determination of quorum.
Yes.
Approval of Agenda:
MSP to approve the July 1
agenda (all
ayes)
Meeting minutes:
MSP to approve the June 3,
2011 meeting minutes, as amended.
(all ayes)
Operations report:
Membership now stands at 549,
with 4 Associate memberships available.
Annual Meeting packet has
been provided to all members.
SBCA Director Mike Morgan has
passed the “Certified Manager of Community Associations” exam, and enrolled in
continuing education classes with CAI.
Upcoming projects include
reroofing the gazebo and repairing wood on the outside of the Great Room.
July bills for quarterly SBCA
dues are going out with the Board approved 5% increase; the new amount is
$198.45 a quarter.
Financial report
Chris
Whitehurst reported the financial highlights for
May,
showing the Total Current Assets for the month to be $315,771.99,
Total Assets to be $632,187.98.
An increase of $11,271.88
over
last year’s Total Assets. The Income Statement for
May 2011
showed total revenues of $8,777.71
and Total
Operating Expenses of $32,692.52
and
a Net Operating
Surplus
of $28,012.82
for the
2011
fiscal
year.
(Note the surplus is always high the first month of the quarter due to the
majority of dues being paid during that month, while expenses are very
consistent month to month). The Maintenance reserve is $197,446.06
and
the Renovation Fund is $54,039.36:
no expenses.
MSP to approve the May financials
(all ayes)
Correspondence:
Letter from M. Morgan about his CMCA certification.
Two letters from Shattuck.
Committee Reports:
ARC
– no motions, questions to lawyer still pending, have gone to the compliance
committee for review.
Facilities
-
MSP that the Gazebo roof
be replaced with composite shingles.
(all ayes)
Compliance – Memo
regarding Appeal of SBCA ARC Decisions to the SBCA Board
Old Business:
MSP to donate $275 to help
support the Port Ludlow Festival.
(4 ayes & 1 nay)
Regular meeting adjourned at
10:48
Board goes into Executive
Session to discuss personnel matters.
Executive Session adjourned
at 11:15
Regular meeting reconvened at
11:16
No motions
Regular meeting adjourned at
11:17
Respectfully submitted:
Christine Whitehurst
Board Secretary/Treasurer
Attachments:
Financials
Operations report
Compliance Committee
opinion on the appeal of ARC decisions to the Board
Next regular
Board meeting:
August 5,
2011
9:30
a.m. Bay Club
pending new Boards wishes
Special & Committee meetings:
Special SBCA planning session
July 6, 2011 1:00
SBCA ARC Meeting July 15, 2011 9:30 a.m. Bay Club
Facility Committee
Meeting
pending
Finance
Committee Meeting
pending
SBCA
Annual Meeting
July 20, 2011 3:00 p.m.
Financial Reports May 2011 Income Stmt. Bal. Sheet