Update on BOD and Annual Members Meeting June 1, 2010

Following is a recap of the Board of Directors Meeting and the Annual Members Meeting held on June 1, 2010.

1. Budget for 2010-2011 The annual budget for 2010-2011 was adopted as presented and the association fee for 2010-2011 will be $2196.15 based on 113 properties.   You will receive your invoice within the next few days and payment is due by 7/31/2010.  The budget is posted on the Tree Tops webpage.
2. Declaration Change for Docks The declaration change for docks did not pass. As a result the board will resume the ongoing mediation with Mr. and Mrs. Cuteri.   The association will be informed of the results of these discussions and of any actions to be taken to resolve the issue.
3. Declaration Change for Basketball Hoops The declaration change to allow basketball hoops to remain outside did not pass.   Many of the homeowners who had issues with this have already moved their basketball hoops into storage when not in use and the board kindly asks that all association members comply with the deed restriction.
4. Election of Board Members The new board of directors elected was Brian Bradway, Janet Chan and Ron Ellett.  HBH automatically has two members appointed by HBH.  Charley Hannah and Mike Bartoletta will serve as Directors.   The new Board elected Brian Bradway as President, Janet Chan as Vice-President and Ron Ellett as Secretary/Treasurer. The new board is effective July 1^st.
5. Independent Audit of Finances Members voted to conduct an independent audit of the Association financial records.  The Board will authorize this audit and post the results when it is completed.

Other Discussion Topics

Improvement Projects

Concerns were raised about the cost of the playground and Montague Street improvement projects with most of the discussion focused on the Montague Street project.  The question was raised about the members voting on these projects.

President Bradway responded that the project details and costs were communicated to the members at each stage of development and it was discussed at several board meetings with members present.  The board had received no concerns or complaints up to this point. 

The Board believes it is the best interests of the Tree Tops community to have the boundary along Montague reflect the quality of the neighborhood.  It is currently unsightly.  The Board will monitor the financial situation and the schedule for these improvements will be dependent on sufficient collections of homeowner fees to insure that funds are available.  Completing the Montague project is phases as funds allow is a possibility if the financial situation is not good.  Concerns or suggestions for changing the proposed improvement plans should be sent to the board members as soon as possible.

Diane Miragliotta stated that expenditures for such projects are at the discretion of the board after obtaining feedback from the members and member voting is not usually done.

Excess Operating Funds

One resident raise a question about using the excess funds from this year to reduce the annual fee and refund money rather than transferring it into next year’s budget.

The resulting discussion included the fact that the Reserve Study indicated the reserves were seriously under funded and this transfer will help bring them in line.  It was also pointed out that the transfer was part of the new budget and if the funds were refunded it would either increase the annual fee or require deferral of the improvement projects planned or both.

Other Comments

Volunteers are needed to serve on the Compliance Committee and other committees.  If you are willing to serve please notify Brian or Diane.

 Message from Mary Strong

Dear Neighbors ,

 Thank you for the opportunity to serve as a Board member and help create a better community here at Tree Tops.  I hope to continue to get to know you all better and help the board in future events. My service is complete and I wish the Board much continued success.