Mountain View at Crown Ridge Resort

Annual Meeting Minutes

First Congregational Church, Family Life Center

Center Ossipee, NH

November 10, 2007

 

 

Approximately 23 members attended the Mountain View Association annual meeting.  All 2007 directors and 7 unit agents were present.  Also in attendance was the property manager.  Directors:  Bob Douglas, unit agent and board president, Carol Habershon, treasurer, Paula Klusas-King, unit agent and board secretary, Mary Gabriele, unit agent, Dave Clough (reserve member) and unit agent, and Bernie Stack, unit agent.  Unit agents: Karen King and Terry Pettiglio and Property Manager, Steve Beller. Three proxy votes were received; two from the individual owners and one from an absent unit agent who delegated Bob Douglas as their voting representative.

 

1) Sign in and verification of proxies completed before start of meeting.

 

2) President Bob Douglas called the meeting to order at 1:20 PM. 

 

3) President’s Report:

• Review of all maintenance work done during the Spring maintenance week
• Follow up of MFs not paid and encourage owners to seek out friends/relatives who may be interested in buying a TS week.
• Need to increase capital reserve account for larger and more costly repairs/improvements to resort.
• Need to keep the cost of maintenance week within the budgeted amount.

 

4) Secretary’s Report. Minutes of the 2006 annual meeting were voted on and accepted. One point of clarification was the $4000 that was paid to CRDC for the services of the previous property manager.

 

5) Treasurer’s Report:  Carol Habershon gave the treasurer’s report. In her report she indicated which line items were increased, by how much, and which items had no changes.

 As of November 10, 2007 the funds are:

·         Checking Account:     $5,092.68

·         Business Savings            $55.06

·         Northway checking    $15,600.44

·         Northway savings       $56,558.01

·         Petty Cash                          $50.00

TOTAL                      $77,356.19

A motion was made and seconded to accept the treasurer’s report, It passed unanimously.

 

6) Capital Reserve Report:  President Douglas informed the owners that the reserve account had

to be increased.  In the future new washer and dryers of 220 voltage will be needed, repairs to Jessica’s road will be necessary, other appliances/furniture will need replacing, and in 10 – 15 years a new roof will be needed. In 2007 $35,371.17 was expended on maintenance work.  In 2008 the goal is to keep the maintenance/improvements within the budgeted amount.  This past year sales and rental income decreased causing an unexpected shortfall for the projected earnings.

A possible way to advertise the sale of resort weeks may be through ads in the tourist newspaper, The Mountain Ear.

7) Manager’s Report:  Steve Beller noted that the resort made RCI Silver Crown resort. The units do not have 1.75 bath in the a unit nor a cook top in the b unit as stipulated in the new RCI requirements for Gold Crown. However we continue to make improvements to keep the resort attractive and well maintained for owners and guests.  Steve showed the owners via a spreadsheet the types of improvements done and the years in which completed.  On going improvements are being planned such as increased voltage for the washer and dryers, more units to be re-painted, new appliances where needed, replacement of carpeting in the a units first floor, where needed, new kitchen counter tops, and the re-painting of all units.  Three units will be re-painted during the 2008 maintenance week.

A question from the floor as to whether the points system was causing an extra expense for the resort, Steve said that the choice of points vs. weeks was an owner’s responsibility and cost, not the resort’s.  He also gave a brief explanation of the process of exchanging weeks for points.

Another question from the floor pertained to the low selling price of some of the non-red weeks.  Concern was expressed that such low prices might attract a less than desirable group of owners.  Steve responded that that concern was minimal, but it was more important to sell the weeks to obtain the maintenance fees.

 

7) Discussion of proposed budget and capital improvements: Refer to items 3, 6 and7.

There were questions regarding budget expenditures:

·          What did the $5,000 office expense include?  Steve responded that the money was for office supplies, stamps, repairs etc.

·         A motion was made to decrease the Misc (meetings, food) by 1/2 the proposed amount.  The motion was defeated 7 to 1.

·         After much discussion a motion was made to not remove the a unit living room air conditioners from the windows during the cooler time periods. The motion was unanimously defeated.

·         A question was asked regarding the amount of funds allocated to the Board’s Honorarium.  Steve explained that the honorarium amount represented 1 week’s MF’s waived for the board for their volunteer service.

·         Another question was in regards to the board members free night stay at an unoccupied b unit for the night of the annual meeting.  Steve responded that there was no increase in cost as the cleaning fee is a flat fee for all units, whether used or unused.

 

8) Other: The property manager and the board will be looking into purchasing new mattresses for the queen beds.  Later in the future the other mattresses will be replaced as well.

 

9) Nomination & Election, Board of Directors: All present board members volunteered to continue as directors for 2008.  The directors were voted in unanimously.  They are:  Bob Douglas, Carol Habershon, Secretary Paula Klusas-King, Directors Mary Gabriele and Bernie Stack.  Reserve board member is Dave Clough.

 

10) Vote on budget:  The Maintenance fees for 2008 will be $518 for interval owners and a monthly fee of $239 for the individual owners, providing an operating budget of $222,705.00.  The 2008 MV budget passed unanimously,

 

11)  Date and place of 2008 annual meeting:  November 8, 2008, 1:00 PM at the First Congregational Church’s Family Life Center, Ossipee Center, NH.  The board of directors will meet beforehand at 11:00 AM.

 

A special thanks to Terri Pettiglio and Karen King for ordering and picking up the luncheon food for the meeting.  They have been re-hired for next year.

 

Meeting adjourned at 4:00 PM

 

Meeting minutes respectfully submitted by

Paula Klusas-King, Board Secretary