(pictured left to right): Michell Johnson, Tim Wilp, Gregory Smith, Ron Lubinsky, Chairman Dave Speirs, Bill Mavity and Paul Rossman Not Pictured: Barry Katz

As reported by Carrie Romero, Controller

November 2006
The Finance Committee met on November 15th to discuss financial matters concerning the Association. After some discussion, the Committee read and approved the October 2006 Financial Statements.
     The Committee unanimously approved the replacement of light poles at the North Lake Beach Club, the resurfacing of the basketball court at Ashwood Park, and concrete fencing along the 405 freeway with funding from reserves.

October 2006
The Finance Committee met on October 18th to discuss financial matters concerning the Association. After some discussion, the Committee read and approved the September 2006 Financial Statements.
     Mr. Steve Jackson of Advanced Reserve Solutions attended the meeting to discuss the Association’s reserve study. Mr. Jackson discussed the various aspects of the study and clarified terminology used in the preparation of the study.
     The Committee also reviewed a resident survey that was mailed to the membership in 2001. The Committee made various recommendations that will be forwarded to the Board of Directors for their review in preparing a new survey.

September 2006
The Finance Committee met on September 20, 2006 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the August 2006 Financial Statements.
The Committee approved a recommendation from staff to purchase a golf cart with funding from reserves.

August 2006
The Finance Committee met on August 23rd to discuss financial matters concerning the Association. The Committee reviewed the 2007 Proposed Budget and Reserve Study. The committee discussed all of the projected increases in 2007, and agreed that the Association’s operating surplus will not be sufficient to sustain the monthly assessment at $66 per unit. The Committee approved a recommendation to the Board of Directors to raise dues $3 per unit, for a total monthly assessment of $69 per unit.
     After some discussion, the Committee also read and approved the July 2006 Financial Statements.

July 2006
The Finance Committee met on July 19, 2006 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the June 2006 Financial Statements.
   The Committee discussed the pool decking at several facilities and made a recommendation to the Board of Directors to replace the pool decking with concrete versus resurfacing.

June 2006
The Finance Committee met on June 21, 2006 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the May 2006 Financial Statements.
   The Committee unanimously approved Barry Katz to serve another term as the Committee Chairperson. The Committee also unanimously approved Michelle Johnson to be appointed to the Compensation Committee along with the Committee Chairperson, Barry Katz.
   The Committee reviewed the Committee calendar and approved to move the August Committee meeting to August 23, 2006.
The Committee also discussed the various options for the pool decking at several facilities and requested that further analysis be done on the costs.

May 2006
There being no quorum, the Finance Committee did not meet in May.

April 2006 Committee Meeting
The Finance Committee met on April 19, 2006 to discuss financial matters concerning the Association. After some discussion, the Committee read and approved the March 2006 Financial Statements.
   The Committee reviewed and approved a recommendation from staff to replace pool heaters at four facilities.
   The Committee also discussed the Woodbridge Shopping Center and the lack of tenant occupancy at the center. A recommendation was made to the Board of Directors to review the situation at the Woodbridge Shopping Center and see if the WVA can do anything to correct this situation.

March 2006 Committee Meeting
The Finance Committee met on March 15, 2006 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the February 2006 Financial Statements.
   The Committee reviewed a recommendation from staff to resurface the pool decking at four facilities. The Committee tabled a decision on this matter so that more research could be done regarding the pros and cons between full concrete replacement and resurfacing.

February 2006 Committee Meeting
The Finance Committee met on February 15, 2006 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the January 2006 Financial Statements.
   The Committee approved recommendations from staff to replace the patio covers at Fallingstar, Clearbrook and Pebblewood facilities with funding from reserves. The Committee also approved the replacement of roofs at the Firwood, South Lake Beach Club and Fallbrook facilities with funding from reserves. A recommendation was also approved to replace a section of concrete fencing with funding from reserves.

January 2006 Committee Meeting
The Finance Committee met on January 18, 2006 to discuss financial matters concerning the Association.  Upon some discussion, the Committee read and approved the December 2005 Financial Statements.
   The Committee approved recommendations from staff to resurface a basketball and tetherball court, to replace the flat roofs at five facilities and to fiberglass and replace tile at three pool facilities with funding from reserves.    The Committee also approved the replacement of the air conditioning and heating unit at South Lake Beach Club with funding from reserves.