Minutes

VILLAS AT HARBOUR VILLAGE PROPERTY OWNER’S ASSOCIATION, Inc.

DRAFT MINUTES OF 2017 ANNUAL GENERAL MEETING.

APRIL 13th 2017

 

The Meeting was called to order at 9:00AM.

Owners of nine (9) units, either in person or by proxy were represented thus establishing a Quorum. Ken Page made a motion that Peter Grant chair the meeting. Second by Stuart Gordon. The motion passed unanimously.

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

Minutes of the 2016 AGM were not available. Management to email a copy to owners for later approval.

 

Report of Officers: Brief report by the Board President Ken Page detailing the events of the last year.

Treasurer, Stuart Gordon  presented an overview of the Association’s finances for the adjusted fiscal year, explaining that the IRS has approved a fiscal year change to match the calendar year and showing that the Association remains in a good financial condition and proceeded to answer numerous questions from the Members. He also provided an extensive report on the Association’s reserves, explaining what is required by the Statute and the Association’s documents. He provided a 30 year cash flow analysis of the items that need to be funded and recommended that the reserve contribution be raised to $83.92 per unit per month in order to meet these obligations.

 

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

New Business:

 

  • David Honold  made a motion to rollover surplus funds, if any, from the 2016/17 budget to the 2017/18 budget. Second by Joe Geiselmann.  Approved unanimously.
  • 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 2017/18 therefore shall be: Ken Page, Joette Maynard and David Honold, each and all qualified to serve as a Director according to Florida Statute and Association Documents. A very brief organizational meeting to elect officers will be held following this meeting.
  • Treasurer, Stuart Gordon presented a draft budget for the 2017/18 budget year.  After much discussion, additions and changes David Honold made a motion to approve a monthly budget of $574.00 per unit which included the reserve increase proposed by Treasurer Stuart Gordon. Second by Joe Geiselmann. After further discussion and questions all voted in favor. The budget was approved unanimously.
  • Other topics discussed – Irrigation and landscaping – additional plantings, and a lengthy discussion on the subject of flood insurance coverage and wind zoning. The effort to receive clarification on the actual zoning of the property and the cost to increase coverage will be ongoing.

 

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

 

Organizational Meeting:

The following slate of officers was nominated and approved unanimously:

President: Ken Page.

VP & Treasurer: David Honold

Secretary: Joette Maynard