INNER HARBOR VILLAGE CONDOMINIUM ASSOCIATION
ANNUAL MEETING
The meeting was called to order by Dan Quail, President, with a welcome to all those attending. He introduced board members Bev Rothenborg, Pegi Graham, Ruth Seaberg, Bob Edelblut, and new board member Jan Lucas. He thanked several members of the community for service to the Board: Bob Force for advice in a number of areas; Donna LaFrere for internal audit; Greg Hupp for newsletter; and Bob Graham for audio-visual support.
The 2007 Annual Meeting minutes were approved by a show of hands.
It was planned that our new property manager, Dan Lanksbury, would be introduced at this meeting, but he was unable to be here. We have a contract with him for the coming year at cost of $10,000.
Landscaping Report – Bob Edelblut
Irrigation system has not presented any problems.
There has been major tree removal and limbing this year.
The problem with pipe
clogging due to beaver activity has
been cleared up.
Many small shrubs have been planted on the bank on
Maintenance Report – Pegi Graham
Pegi reported several unexpected repair items this year: shortage in electrical box on Building 10 resulting in loss of electricity; roof leaks; dry rot behind stairs in some of the four-plexes. Concrete work in the coming year will be a major expense. Pegi asked that requests for repairs and landscaping be presented in writing; request forms are available at the Bay Club.
Bev Rothenborg reviewed the financial report. She reported on the internal audit for 2006-2007 which was done by Donna LaFrere. No irregularities were found in our finances. A professional audit was previously done for years 2004-2005.
Dan reviewed the budget for next year, as well as the reserve budget. We were under budget for operating expenses this past year, but over budget for reserve fund as a result of extensive repairs on entry stairs on Buildings 3, 4 and 5. The reserve fund is used for long term predictable repair and maintenance. To make up the deficit, the Board has voted for a 2% special assessment and a 5% increase in dues for the coming year. Next year we will cancel the cable TV service which will amount to a savings of $18,000 and will eliminate the necessity for another dues increase. Dan discussed the new Senate Act 6215 which requires a professionally conducted reserve study. It also adds many additional requirements to the resale certificates that are required for home buyers.
Twenty-nine signed ballots were received from homeowners. The following board members were elected: Dan Quail, Jan Lucas, Pegi Graham, Ruth Seaberg. The budget for 2008-2009 was approved. It was voted to waive a professional audit of the books.
During a question and answer session it was suggested that we install a sensor system in our irrigation system to prevent overwatering. This will be considered as a project next year. Homeowners should report any sprinklers that direct water to areas other than lawns such as driveways or roads.
Respectfully submitted.
Ruth Seaberg, Seccretary