Seven Springs Owners Association

Minutes

October 20, 2003 Board Meeting

Present: Paul Drda, Patricia Swart, Mat Maxwell, Pete Roybal, Roy Jewell, Miste Adair and the Agent-Mike Crowley.

The first order of business was election of Officers. Patricia Swart was elected to serve as President. Matt Maxwell will serve as Vice President. Miste Adair will serve as Secretary, Paul Drda will serve as Treasurer, Pete Roybal and Roy Jewell will serve At Large.

Matt and Paul have one year remaining on their terms, Patricia and Pete have two years remaining and Roy and Miste have three years remaining.

The September 15, 2003 and the August 18, 2003 minutes were approved.

Paul Drda commented on some of the payables and the Agent commented on the financial statements that were the same as reviewed in the annual meeting. The board took time to discuss the influences to the 2004 budget which included a 73% increase in gas costs and a 28% increase in electric costs. A part time employee has also been hired. The agent will add a total of $48,000.00 to the total income, $35,000.00 to utilities and the balance to fund the reserves and calculate the increase in monthly assessments. A notice will be sent to the owners advising them of the increase.

The board ratified the hiring of Tony Agular as the part time employee.

The Board was advised that the insurance premium remained the same for the next year.

The agent had five snow/landscape bids for the board to review. Pete Roybal took the Schultz and the Blade Runner bids and was authorized to engage the company that best met the criteria of the board. The action will be ratified at the November meeting.

Due to the lateness of the meeting the remainder of the agenda items will be addressed in the November meeting.   

The next meeting is scheduled for November 18, 2002.

With there being no further business, the meeting was adjourned.

Respectfully Submitted,

Mike Crowley

Agent for

Seven Springs Owners Association