Annual Board of Directors Meeting Minutes
October 20, 2011

The following homeowners were represented in person or by proxy: Bost, Collins, Borderieux, Parker, Wester, Bettis, Goodman, Chambers, Liggett, Padgett, Jones, Rathke, Richards, Bommarito, Padden, Zefren, Ward, Schliebe, Elwood, Garing, Nash, Seagars, Spezialy, Farrell, Burri, Roller, Wilhelm, Wohlgemuth, Cain, Epperson, Konkler, Dailey, Jewell Jones, Garth Jones, Kruse, Morris, Robinson, Sumpter

A quorum being present the President, John Garing at the hour of 7:30 p.m, called the meeting to order.

The agenda was presented and reviewed. George Dailey moved to approve the agenda as presented. Bill Elwood 2nd the motion. The motion was approved.

Homeowners Comments
None at this Annual meeting.

The minutes of the October 15, 2010 annual meeting were distributed and reviewed. George Dailey moved to approve the minutes as written. Gerald Morris2nd the motion. The motion was approved.

Ed Canfield, the Managing Agent, was asked to give a review of the financial report.

Total Income to Date: $ 127,869.41
Total Expenses to Date: $ 57,019.17
Total Assets: $ 70,850.24
Total Uncollected Dues: $ 6,435.18

Committee Reports were as follows:

Water
Sean Siegel in Unfinished Business will discuss the water report.

Homeowners Comments
No Committee report at this meeting.

Roads/LRSA
Bill Rathke gave the report for the LRSA. He reminded owners that the Limited Road Service Area is paid for by a tax from the homeowners though the Municipality of Anchorage and not the Valli Vue Homeowners Association. He reported that the LRSA Contractor was in the last year of the contract and historically a new contractor is chosen. He complimented the current contractor as one that has gotten better as the years went by. He reported the LSRA Board had several projects that were done this year and sought out bids to keep prices down. Several Valli Vue Board members complimented them for going above and beyond to save money for the Association.
COMMON AREAS: Jewell Jones gave the Common Area report. She reported that the entryway sign was knocked over by someone and put in storage while the Board considered purchasing a new sign for the entry. Jewell reported that due to the summer busy season, the pricing was expensive and contractors were too busy to do the job. She stated she would continue in the spring on getting the new sign installed.

Election of Directors (3)
The next item of business was the election of Directors. There were three positions up for election. The Nominating Committee recommended the following homeowners: John Garing, Jody Brady, George Dailey

Being no further nominations the floor was closed. The three nominees were unanimously approved by a vote of the owners.

2012 Budget
The proposed 2011 budget approved by the Board of Directors was presented at this meeting for approval. This coming year's budget calls for a ten percent increase and will raise the dues for 2011 to $586.85. There was a discussion of the 2010 thru 2012 water utility projects. These included main valve inspections and repairs, fire hydrant repairs, valves at the owner key box repairs, and the future possible repairs at the pump house. After the discussion George Dailey motioned to approve the budget. Jerry Morris 2nd. The owners unanimously approved the budget.

Being no further business to come before the membership at this time the meeting was adjourned at the hour of 8:55p.m.

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