MOODY POINT COMMUNITY ASSOCIATION

BOARD OF DIRECTORS MEETING MINUTES

August 17^th, 2004

The Board of Directors of the MPCA met on Tuesday, August 17^th, 2004 at the Bunting’s home. Present were Linda Edwards, Bill Bunting, Russ Simon, Judy Carr, Jeanne Ormrod, Fern Bouthot, Jim Fitzpatrick and Les Regenbogen, presiding. Guests included M.J. Searfoorce of Great North Property Management.

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The meeting was called to order at 7:00 p.m.

The minutes of the August 2^nd, 2004 meeting were accepted as distributed.

The culvert report by West Environmental was received by the Board and distributed to members for review. The report covers their condition and priorities for repair.

The Board received a notice from the State via the Water Systems Group that our water system would require a chlorination treatment and retesting due to contaminants found in a recent test. It was stressed that these contaminants were not a threat to public health. They were caused by the work being done to install measuring devices down into our wells. The testing and treatment are precautionary measures to ensure the safety of the system. These are scheduled to begin on Tuesday, August 24^th. Chlorine will be inserted into the system at the well house and may be noticed in our water for several days. The Water Systems Group will coordinate the turn off of sprinklers (to prevent damage to lawns and plantings) and all residents will be further notified via the phone tree to ensure awareness.

Property Management: We are still awaiting a proposal for landscaping and snow removal for next year. The difficult issue seems to be re: snow removal. We have re-submitted the snow-removal RFP to various contractors.

As per state regulations, Great North will be mailing out to each homeowner the test results that necessitated the chlorination of the water system as discussed above.

Annual Meeting Agenda: The Board reviewed the proposed Agenda for the meeting and approved it for distribution to the membership. A hard copy of the proposed Bylaw amendment will be available at the meeting.

Treasurer’s Report: Linda Edwards presented the Annual Budget recommendations from the Budget Committee. The proposed Budget separates General Operating expenses (i.e. management fees, insurance, landscaping, trash removal, etc.) from Water & Sewer expenses. This was done for clarity and to better align with their respective revenue sources and capital reserve funds. The Budget Committee did not alter budget requests from other committees, but left any adjustments to the judgment of the Board. The budget proposed by the committee reflected past and current experience in its line items. The significant increase in the proposed budget over last year was in the area of “Environmental Consulting/Permits” and “Open Space Maintenance” which was a reflection of the Environmental Committee’s commitment to maintain and enhance the work done this year. There was also provision to continue to fund the Operating Capital Reserve. Notes on the year-over-year variance were provided for each line item. It should be noted that the MPCA is on accrual-based accounting to better manage our payables and receivables. In addition to the proposed 2005 Budget, an end-of-year Balance Sheet will be provided to the Membership. In reviewing the proposed budget from the Committee, the Board made adjustments to the following line items: a.) Accounting & Legal Expenses – increased in anticipation of culvert and water system capacity expansion issues.

b.) Open Space Maintenance – increased to reflect the size and scope of on-going supervision and maintenance of this valuable asset. c.) Environmental Consulting/Permitting – decreased to transfer funds into Open Space Maintenance.

The Board thoroughly discussed the continued funding of the Capital Reserve as a high priority. This continued and increased funding is essential to the prudent management of our infrastructure: whether for culvert maintenance and drainage, water system maintenance, or some unforeseen event.

The Board will present the proposed 2005 Budget at the Annual Meeting on September 11^th, at the Newmarket Town Hall at 10:00 AM. A Membership discussion and vote will follow.

Other Business:

The Board accepted the Water Systems Group’s recommendation of Eckman Engineering for developing the engineering plan for increasing our water capacity.

The next regular meeting will be held on September 11th, 2004 immediately following the Annual Meeting.

There being no further business, the meeting was adjourned at 9:40 p.m.

Respectfully submitted,

Jim Fitzpatrick

Secretary