Mariners Cove Board Meeting Minutes

February 26, 2022

Call to Order:  9  am

Guests:  24 owners were present.  Budget 2022 was on the agenda. Six Board members present.  Member Felecia Sutton has an excused absence.   

President Ralph Tepel welcomed the guests.  The proposed 2022 budget was emailed to all owners prior to the meeting.  Ralph explained the budget, pointing out where increases were made and why those increases were necessary.  Ralph presented a pie chart showing where dues are spent.  In order to meet the 2022 budget, Ralph explained the need to increase income by raising the dues to the General Fund an additional $50 per month, to be paid quarterly starting with the 2^nd quarter of 2022.  Also proposed was a $25 per month increase for the Reserve Fund to be paid quarterly starting with the 2^nd quarter of 2022.  The dues and assessment increase will bring the quarterly amounts owed to $1,410.  A good discussion was held by owners and board members.  President Ralph asked for an advisory vote from the owners present which would give direction to the Board as they ratify the proposed budget.  Tim Douglas moved the Board approve the proposed 2022 budget as presented with an increase of $50 a month for the General Fund and $25 a month for the Reserve Fund starting with the second quarter, April 1, 2022.  John Templeton seconded the motion.  MC

 Board member Steve Wimbush led a discussion on the need for a Reserve Study to give us information on putting the Reserve Fund in a stronger position financially.   Others joined in the discussion.  It had been decided at the January Board meeting to seek proposals from companies who do reserve studies.  Steve and board member Carol will seek costs and services available and bring the information to the Board.  One member expressed wishes to have a one-time larger assessment rather than an increase in the quarterly dues. If the Board decides to hire a company to do a Reserve Study, the Board will use the Reserve Study as one of the tools to help determine how to increase the Reserve Fund balance and the amount that would be adequate and reasonable.

There being no further discussion, the floor was closed to visitors and the regular board meeting continued.  Owners were welcome to stay and observe the meeting. Owners were thanked for their participation and suggestions.

Minutes were approved as emailed.  Motion by Steve., second by Sandi.  MC

Financial reports were approved as emailed.  Motion by Sandi, second by Brooke.  MC

Old Business:

    Bids are being solicitate for lawn and grounds services for the next year.  The three-year contract presently in place ends March 2022.

     Report on break-in of clubhouse was given by Ralph.

New Business:

     A discussion was held concerning the security of the clubhouse.  The need to re-key or look at other ways to secure the building led to a motion by Steve and second from Jamie to research options for new keys, or code pads, or RFID key system.  Steve motioned and Jamie seconded to present information to the Board at the March meeting MC.  Jamie will follow through with Brooke helping.

No Executive Session:

No further business:  Motion to adjourn by Carol, second by Steve.  MC

Next meeting, March 12 at 9am.