(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 2007
The Finance Committee did not hold a meeting in November.

October 2007
The Finance Committee met on October 17, 2007 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the September 2007 Financial Statements.

September 2007
The Finance Committee met on September 28th to discuss financial matters concerning the Association. The Committee reviewed the 2008 Proposed Budget and Reserve Study. The Committee discussed all of the projected increases in 2008, and agreed that the Association’s operating surplus will not be usfficient to sustain the monthly assessment at $69 per unit.
   The Committee approved a recommendation to the Board of Directors to increase dues $5 per unit, for a total monthly assessment of $74 per unit, with $1 of that dues increase to be allocated to reserves for additional funding.
   After some discussion, the Committee also read and approved the August 2007 Financial Statements.

August 2007
The Finance Committee met on August 15, 2007 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the July 2007 Financial Statements.
   The Committee unanimously approved the purchase of eight Hydrobikes and four sabot sailing boats with funding from reserves.
   The Committee also unanimously approved the purchase of a salt water chlorination system for the Woodflower pool, spa and wader with a cost of approximately $15,000 with funding from Capital Improvements.

June 2007
The Finance Committee met on June 20, 2007 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the May 2007 Financial Statements.
     The Committee unanimously approved Barry Katz to serve another term as the Committee Chairperson.

May 2007
Due to a lack of quorum, the Finance Committee did not meet in May.

March 2007
The Finance Committee met on March 21, 2007 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the February 2007 Financial Statements.
   The Committee approved the purchase of a maintenance boat for North Lake and a new trash pump for the facilities with funding from reserves. The Committee also approved slurry sealing at three facilities and the resurfacing of the North Lake Lagoon with funding from reserves.

February 2007
The Finance Committee met on February 21, 2007 to discuss financial matters concerning the Association. After some discussion, the Committee read and approved the January 2007 Financial Statements.
   The Committee unanimously approved to replace pool heaters at five facilities and to replace the gate and certain sections of the fence at the North Lake Beach Club with funding from reserves. The Committee also approved the replacement of roofing at three facilities with funding from reserves.

January 2007
The Finance Committee met on January 17, 2007 to discuss financial matters concerning the Association. Upon some discussion, the Committee read and approved the December 2006 Financial Statements.
   The Committee unanimously approved the extension of the slides at the North and South Lake Lagoons with funding from reserves. The Committee also discussed the possibility of adding online account access to residents on the WVA website to review their payment history. The Committee expressed interest if the online account access had more features like the ability to pay assessments online. Staff will continue to research this item and report back to the Committee.