Annual Meeting Minutes
May 26, 2011
The meeting was called to order at 6:35pm.
Including the 60 proxies received, a quorum was
Year in Review
presented information about the location,
clearing, and inspection of the retention
ponds. He has invested 200 hours of his own
time on the project. Annual inspections will
now occur every May.
The only other
large expenditure was repairing the gates.
Reserve study and budget impact.
legislation requires a reserve fund study at
a cost of about $2,000. Any shortfall must
be disclosed to the membership. Once money
is moved to the reserve fund, it cannot be
taken back for the operating budget.
who were present at the meeting asked the
Board to present options about how to move
aggressively to establish a reserve fund.
The issue will be presented at next yearís
The meeting was adjourned at 8:06pm