Meeting called to order by Chair at 7:00 p.m.
Committee Attendees: Kevin Ubelhart (Chair), Scott Fisher (Vice-Chair), Ty Kehrer, Marion Donnelly, Andy Feinstein, Rob Maloney, Dale Urbanek, Wes Elliott, and Robin Kinkead.
Non-Committee Attendees: Wendy Taylor (General Manager), Suzanne Allen (Armstrong Management), Jeff Salmon (Board of Directors), and Ken Walsh (Board of Directors).
Public Comment / Issues: None.
No one electronically recorded the meeting.
The Committee reviewed the minutes from its December 2, 2009 meeting. Ty Kehrer made a motion that, “The Budget and Finance Committee accepts the minutes from the December 2, 2009 Budget and Finance Committee Meeting.” The motion was seconded by Scott Fisher and passed with Robin Kinkead abstaining.
The Committee reviewed the November and December 2009 financial statements. Suzanne Allen of Armstrong Management presented the financial statements to the Committee.
Wes Elliott made a motion that, “The Budget and Finance Committee accepts the November 2009 financial statements as presented and the December 2009 financial statements with a change to accrue additional snow removal costs." The motion was seconded by Marion Donnelly and passed “Unanimously”.
The Committee discussed investments. The Committee discussed the purchase of two $100,000 CDs for the replacement reserve with five year maturities to be purchased in the first quarter. The Committee discussed purchasing $300,000 of CDs for the capital improvement fund with a two year maturity at the highest available rates.
The Committee discussed the proposed common driveway amendment to the declaration.
The Committee discussed leadership for 2010. Andy Feinstein nominated Kevin Ubelhart to be Chair and Scott Fisher to be Vice-Chair. No other members were nominated. Nominations were then closed. The motion was seconded by Wes Elliott and passed “Unanimously.”
The meeting was adjourned at 7:45 p.m.
The next meeting of the Budget & Finance Committee is Wednesday, February 17, 2010 at 7:00 p.m. in Town Hall.