Budget and Finance Committee Meeting April 21

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

2. Committee Attendees: Kevin Ubelhart (Chair), Scott Fisher (Vice-Chair), Robin Kinkead, Dale Urbanek, and Marion Donnelly.

Non-Committee Attendees: Wendy Taylor (General Manager), Suzanne Allen (Armstrong Management), Ken Walsh (Board of Directors), Jeff Salmon (Board of Directors), and Ted Lange.

3. Public Comment / Issues: None.

4. No one electronically recorded the meeting.

5. The Committee reviewed the minutes from its March 17, 2010 meeting.
a. Robin Kinkead made a motion that, "The Budget and Finance Committee accepts the minutes from the February 17, 2010 Budget and Finance Committee Meeting."  The motion was seconded by Marion Donnelly and passed with Dale Urbanek abstaining.

6.  The Committee reviewed the March 2010 financial statements.  Suzanne Allen 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 2010 financial statements as presented."  The motion was seconded by Robin Kinkead and passed unanimously.

7. The Committee discussed investments and recommended four Certificates of Deposit be purchased with Capital Improvement funds and three Certificates of Deposit be purchased with Replacement Reserve funds. 

8.  The Committee discussed utilizing legal counsel in preparing the recommendations on proposed amendments to the declaration.  Wendy Taylor is working on identifying who to use for these services.

9.  The Committee Chair, Kevin Ubelhart, resigned his chairmanship but retained his committee member status due to his candidacy for the BOD.  The committee then reviewed and elected a new Chair/Vice Chair.

a.  Robin Kinkead made a motion that, "The Budget and Finance Committee elect Scott Fisher as Chair and Ty Kehrer as Vice-Chair for the remaining 2010 term."  The motion was seconded by Marion Donnelly and passed with Scott Fisher abstaining.

10.  The meeting was adjourned at 8:10 p.m.

11.  The next meeting of the Budget & Finance Committee is Wednesday, May 19, 2010 at 7:00 p.m. in Town Hall.