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Back row left to right: Board of Directors Liaison Bill Mavity, Keith Boothroyd, Jim Kuriluk, Dave Speirs, Phil Berman
Front row: Ron Lubinsky, Chairperson Michelle Johnson, Association Controller Carrie Romero
Not pictured: Greg Hamblin
As reported by Carrie Romero, Controller
June 2010
The Finance Committee met on June 16, 2010 to discuss financial matters concerning the Association.
Upon some discussion, the Committee also read and approved the May 31, 2010 Financial Statements.
The Committee unanimously approved the recommendation to purchase a new air conditioning unit for the Community Center with funding from reserves.
The Committee also discussed the 2010 Five-Year projection and the 2011 Budget timeline.
May 2010
The Finance Committee met on May 19, 2010 to discuss financial matters concerning the Association.
Upon some discussion, the Committee also read and approved the April 30, 2010 Financial Statements.
The Committee unanimously approved the recommendation to purchase three Toyota trucks and one golf cart for the maintenance fleet with funding from reserves.
The Committee also unanimously approved Michelle Johnson as the Chairperson of the Finance Committee for another term.
April 2010
The Finance Committee met on April 21, 2010 to discuss financial matters concerning the Association.
Upon some discussion, the Committee read and approved the March 2010 Financial Statements.
The Committee reviewed the bank rating information for Union Bank and felt that the ratings were adequate. The Committee was also informed of the upcoming Fallbrook Park Improvement Community Forum scheduled for Wednesday, April 28th at the Community Center. All Committee members were encouraged to attend.
The Committee unanimously approved to recommend the following bids to the Board of Directors:
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Replacement of a section of the fencing along the 405 Freeway with concrete fencing with funding from reserves. The Committee also requested that Staff obtain a bid to
finish this project, as they felt it might be prudent to move up the completion of this project. |
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Purchase of three irrigation controller pedestals with
funding from reserves. While the Committee supported this recommendation, they asked if these controllers could be moved underground. The Committee also inquired as to the feasibility of moving these out of public visibility if possible. |
The Committee also asked Staff to report back on the quality of lighting at the South Lake Gazebo and the needed repair of cable boxes owned by utility companies throughout the community.
March 2010
The Finance Committee met on March 17, 2010 to discuss financial matters concerning the Association.
Upon some discussion, the Committee read and approved the February 2010 Financial Statements.
The Committee unanimously approved to recommend the following bids to the Board of Directors:
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Purchase Salt Chlorination Systems for the Woodspring, Smokestone and Wintermist facilities with funding from Capital Improvements |
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Purchase of a band saw with funding from reserves |
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Purchase of a repeater for the Community Center with funding from reserves |
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Purchase of an airless paint sprayer with funding from reserves |
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Purchase of a breaker hammer with funding from reserves |
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Purchase of a pressure washer with funding from reserves |
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Purchase of rope lighting for the South Lake Bridge with funding from reserves |
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Purchase of a 1 meter diving board with funding from reserves |
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Purchase of an ice machine for the South Lake Tennis Lounge with funding from Capital Improvements |
The Committee was also informed that the Association’s banking institution amended their Coverage Plus insurance coverage to a maximum of $750,000 per taxpayer ID. The Committee asked that their bank rating be discussed at the next meeting.
The Committee was further informed that the Fallbrook Park Improvement Community Forum is scheduled for Wednesday, April 28th at 6:30 p.m. at the Community Center.
February 2010
Due to the lack of quorum, the Finance Committee did not meet in February.
January 2010
The Finance Committee met on January 20, 2010 to discuss financial matters concerning the Association.
Upon some discussion, the Committee also read and approved the December 2009 Financial Statements.
The Committee reviewed an analysis which showed the Association could save approximately $9,200 per year if the Reflections newsletter was printed ten times per year instead of twelve. The January and February issues would be combined, and the March and April issues would be combined. Staff did not feel this combination would impact the membership or affect the programs we are advertising. Staff did not recommend combining any other monthly issues. Upon some discussion, the Committee voted to recommend to the Board of Directors that the Reflections newsletter be printed ten times per year instead of twelve.
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