VILLAS AT HARBOUR VILLAGE PROPERTY OWNER’S ASSOCIATION, Inc.
MINUTES OF 2012 ANNUAL GENERAL MEETING.
MARCH 16th 2012

The Meeting was called to order at 10:00AM.

Eight (8) Owners, either in person or by proxy were represented thus establishing a Quorum. Joe Geiselmann made a motion that Peter Grant chair the meeting. Second by Ron Jarvis. The motion passed unanimously.

All notices for the Meeting required by Florida Statute and the Association’s Bylaws have been met.

Joe Geiselmann made a motion to approve the minutes of the previous AGM as read. Second by Ron Jarvis. All in favor. The motion passed.

Report of Officers: President, Joette Maynard gave a brief report for the Board of Directors detailing the events of the last year.

Old Business: There was no old business carried over from prior Member’s Meetings.

Management gave an overview of the Association’s finances for the 2011/12 fiscal year to date showing that the Association remains in a solid financial condition and proceeded to answer numerous questions from the Members.

New Business:

• The vote to rollover surplus funds, if any, from the 2011/12 budget to the 2012/13 budget was approved unanimously. Ron Jarvis made a motion to transfer $20,000 from the operating account to the Reserve account as higher interest rates are available. Second by Joe Geiselmann. All in favor. The motion passed.
• By Statute there was no requirement for an election of directors this year as there were only as many nominees as there were vacancies.
• The Board Members for 2012/13 therefore shall be: Joette Maynard, Ken Page & Joe Geiselmann, each and all qualified to serve as a Director according to Florida Statute and Association Documents. An organizational meeting to select officers will be held in the next two weeks.
• Ron Jarvis explained how the limited flood insurance coverage occurred in years gone by. Management was instructed to obtain an engineering bid for a FEMA application to change the flood zone.
• Management presented a draft budget for the 2012/13 fiscal year that held monthly dues at the current level of $450.00 – Joe Geiselmann made a motion to approve the budget. Second by Joette Maynard. After discussion and questions all were in favor. The budget was approved.

Joe Geiselmann made a motion to adjourn. Second by Joette Maynard. There being no further business before the Members, the meeting was adjourned.