Minutes of the Finance Committee Meeting

May 16, 2013

Present were: Tom Egan, Roberta Miller, Greg Kamman and Janice Cunningham. Absent Ron Marinoff and Van Athanasakos.

The Committee discussed the Reserve Fund; what level it should be maintained at and whether or not the monthly contribution should be increased in the future.

They discussed how to fund the proposed remodel of the common area grounds and whether or not there was a need to increase the dues or if a loan from a bank would be sufficient or a combination of both.

They also discussed how the HOA would pay for reconfiguration of the drainage at the upper courts and the eventual re-landscaping.

Adjournment of Board Meeting: The Board meeting was adjourned at 11:00 am.