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CALL TO ORDER
The meeting was called to order by Harry O'Halloran, president, at 6:34 PM.
ESTABLISHMENT OF A QUORUM
There is a quorum of four Board members present.
ACTION ITEM #1: APPROVE MINUTES
Jerry Massa moved that the minutes from the August 31st, 2016, meeting be approved as written. This was seconded by Kristin Zandstra. The motion passed unanimously.
TREASURER'S REPORT
Michelle Kamejarin, Property Supervisor, gave the Treasurer's report, as of August 31, 2016 the Association had operating cash of $207,233.98 and reserves of $152,029.19 for a Total Cash and Investments of $359,263.17 as is reported on the Schedule of Cash and Investments. The bank loan balance is $179,417.
ACTION ITEM #2: APPROVE 2017 DRAFT BUDGET FOR DISTRIBUTION TO THE OWNERS
A motion was made by Harry O'Halloran to approve the 2017 budget draft which calls for a 2.29% increase. The budget draft will distributed to all homeowners for their 30 day review. This was seconded by Jim Skakolski and unanimously approved.
ACTION ITEM #3: APPROVE GAS CONTRACT
A motion was made by Harry O'Halloran to approve the gas proposal presented by our current provider Constellation for a yearly contract at $.396 per therm. This was seconded by Jerry Massa and unanimously approved.
MEETING ADJOURNMENT
Harry O'Halloran moved that the meeting be adjourned at 7:08 pm. This was seconded by Jim Skakolski. The motion was unanimously approved.
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