LAKE MOOVALYA KEYS, INC.
Board of Directors
Regular Meeting
NOVEMBER 1, 2010

CALL TO ORDER
President Jack Sweeney called the regular meeting of the Lake Moovalya Keys Board of Directors to order at 6:00pm.

PRESENT
President:  Jack Sweeney
Vice President:  Chuck Baker
Secretary/Treasurer:  Laura Lancaster (Absent)
Board Members:  Joe Price, William “Squeak” Kossnar, Rob Troxler, Gary Svider and Chris Chambers
           
ABSENT
Board Members: Blane Coon.  Leave of Absence Granted to Laura Lancaster

OTHERS PRESENT
Guests:  Carla Faulkner (David Plunkett Realty), Gary & Becky Anslyn Lot 113
General Manager:  Cheryl Shockley
Legal Counsel:  John C. Churchill
           
INTRODUCTIONS

MINUTES
Chuck Baker moved to approve the Minutes of the Regular Meeting of October 4, 2010.  The motion was seconded and carried unanimously.
 
FINANCIAL REPORTS
Joe Price made a motion to approve the October 2010 Bookkeeper’s Report, Prepaid Bills and Bills for Approval for October 2010. The motion was seconded and carried unanimously.

Joe Price made a motion to approve the October 2010 Balance Sheet.  The motion was seconded and carried unanimously.

Chuck Baker made a motion to approve the October 2010 Profit and Loss Statement.  The motion was seconded and carried unanimously.

BOOKKEEPER REPORT
10/27/10
Rental security deposits were returned to Warden (lot 131) and Anslyn (lot 113).

Cheryl is moving this weekend, and she placed an order with Frontier to move the Keys’ telephone line to her new residence.  Frontier will be charging us $115 to move the line.

I met with Chuck regarding the long-term capital improvements budget and where the monies are to be held.  I moved $63,867.60 from the former Reserve account (now called the Savings account) into the now named Capital Improvements Reserve account (formerly Capital Improvements account).  Refer to the Balance Sheet to see the current balances in these accounts.  Future annual budgeted capital improvement allocations will be transferred into the Capital Improvements Reserve account during the first quarter of each year starting in 2011.

My notary public commission is due to expire on 11/16/10.  Four years ago the Board asked me to obtain my Notary Public for its convenience, as I was attending Board Meetings at that time.  Now that I am not attending meetings, does the Board want me to continue being a Notary?  The renewal fee and bond are $93.00.  If you do not feel this is a continuing necessity, I will let it lapse.  Or I will be happy to renew it if the Keys wants to pay the costs.  Let me know what you decide.  The Board decided that it was not necessary for Ms. Thomson to be a notary and asked Ms. Shockley to let her know the decision to let the notary lapse.

Delinquent dues’ accounts and status are listed on the enclosed spreadsheet.   

Citations issued:  Lots 162/163 (rental) & 47 (owner) for white line violations.

CALL TO THE PUBLIC
Chuck Baker made a motion to grant Laura Lancaster an indefinite leave of absence.  The motion was seconded and carried unanimously.

GENERAL MANAGER’S REPORT
Chris Chambers made a motion to approve the October 2010 General Manager’s Report.  The motion was seconded and carried unanimously.

Mr. Price asked why Ms. Shockley was helping out a homeowner in Vista Del Monumento with a parking issue.  Ms. Shockley responded that she was trying to be helpful.

Mr. Baker asked that Ms. Shockley about issuing over the white line warnings and why she was not issuing citations.  Ms. Shockley responded that she issued 1st time warnings and citations for repeat offenders.  Mr. Baker asked that Ms. Shockley not put warnings on her General Manager’s report.

OLD BUSINESS
None

NEW BUSINESS
Mr. Sweeney advised the Board that Shelby Couch resigned his position on the Board of Directors.

Adjourn to Executive Session 6:20pm

Actions Taken from Executive Session
Joe Price made a motion for John Churchill to review the letter Ms. Shockley prepared for Mr. Breazeale and construction plans submitted by Rich Ferber.

ADJOURNMENT
The meeting adjourned at 6:48pm
Submitted by Recording Secretary, Cheryl Shockley