Budget & Finance Committee Meeting March18

1.  Meeting called to order by Chair at 7:05 p.m.

2.  Committee Attendees: Kevin Ubelhart (Chair), Scott Fisher (Vice-Chair), Dale Urbanek, Ty Kehrer, and Rob Maloney.

Non Committee Attendees: Wendy Taylor (General Manager), Renee Thompson (Armstrong Mgmt), Ken Walsh (Board of Directors), James Gould (Resident), and Wes Elliott (Resident).

3.  Public Comment / Issues: None.

4.  No one electronically recorded the meeting.

5.   The Committee reviewed the minutes from its February 18, 2009 meeting.
a.  Ty Kehrer made a motion that, “The Budget and Finance Committee accepts the minutes from the February 18, 2009 Budget and Finance Committee Meeting.”  The motion was seconded by Scott Fisher.  The motion passed "Unanimously".

6.  The Committee reviewed the February 2009 financial statements.  Renee Thompson of Armstrong Management presented the financial statements to the Committee.
a.  Scott Fisher made a motion that, “The Budget and Finance Committee accepts the February 2009 financial statements as presented."  The motion was seconded by Rob Maloney.  The motion passed “Unanimously”.

7.  The Committee discussed investments.  The Committee discussed the purchase of three $100,000 CDs for the capital improvement fund with one year maturities at the highest available interest rate.

8.  No old business was discussed.

9.  The committee did not discuss contingency planning or landscape improvement bids.

10.  The Committee reviewed bids for Dri-Deck installation at two pools.
a.  Scott Fisher made a motion that, "The Budget and Finance Committee recommends the acceptance of the proposal from Crystal Aquatics, Inc. for Dri-Deck installation for an amount not to exceed $10,220.00 to be paid from the replacement reserve."  The motion was seconded by Ty Kehrer.  The motion passed “Unanimously”.

11.  The Committee reviewed bids for pool house repairs at two pools.
a.  Ty Kehrer made a motion that, "The Budget and Finance Committee recommends the acceptance of the proposal from mdbpainting, inc. for pool house repairs for an amount not to exceed $28,920.80 to be paid from the replacement reserve."  The motion was seconded by Dale Urbanek.  The motion passed “Unanimously”.

12. The Committee reviewed bids for townhome mailbox repairs.
a. Dale Urbanek made a motion that, "The Budget and Finance Committee recommends the acceptance of the proposal from Kris' Painting Service, Inc. for townhome mailbox repairs for an amount not to exceed $4,100.00 to be paid from the replacement reserve."  The motion was seconded by Rob Maloney.  The motion passed “Unanimously”.

13.  The Committee reviewed bids for pool furniture replacement.
a.  Dale Urbanek made a motion that, "The Budget and Finance Committee approves the recommendation of staff to accept the proposal from Hadsell Sun & Shade, LLC for pool furniture replacement for an amount not to exceed $13,580.00 to be paid from the replacement reserve."  The motion was seconded by Scott Fisher.
The motion passed with Kevin Ubelhart abstaining. 

14.  The Committee reviewed and discussed the first draft of the 2008 audit.

15.  The meeting was adjourned at 8:20 p.m.

16.  The next meeting of the Budget & Finance Committee is Wednesday, April 29, 2009 at 7:00 p.m. in Town Hall.