Telegraph Springs Farm Homeowners Association

December 2006 Board Meeting Minutes

Motions and Attendance

December Board of Directors (BOD) Meeting Minutes: 12 December 2006, 7:30pm at the Dipippa’s home 37400 Whitacre Lane, Purcellville, VA

Meeting called to order by Shyla Kennedy. Shyla declared a quorum of board members were present (4 out of 5).

MOTIONS APPROVED: Board Approved 2007 budget

IN ATTENDANCE:
Tracy Aitcheson, Kelly Dipippa (BOD) , Shyla Kennedy (BOD-presiding), Mel Pine (BOD), Liz Tuohy(BOD). [5 homes represented, 5 people present]

Discussions: 2007 Budget

The group discussed the budget at length as well as Chan Furr's deliverables from last meeting. Shyla took action to contact Sallie Street and see if Chan has made any progress.

Some minor budget changes were made:
- Break out the miscellaneous section into detail sections
- We will keep the dues the same. If we decide to incur additional expenses to paint barn roof or gutters beyond what is in the bank, we will issue a special assessment. We plan to explain this at the January 2007 annual meeting.

Proposed 2007 Budget approved by the BOD

CASH RECEIPTS
Homeowners Dues: $6,400.00
Qtrly Assessment For Roads - 8 Lots: $6,536.00
Interest Income: TBD

CASH DISBURSEMENTS:
Loan Payment To Middleburg Bank: $6535.80
Landscaping – Maintenance: $1,000.00
Bush Hogging: 0.00
Snow Removal: $825.00
Legal Fees: $1,000.00
Misc - Insurance, St Corp Fees, Donations, Etc
Insurance: $1,000.00
Donations: $400.00
Fees - State Corp Comm,: $50.00
Unexpected Expenses: $ 2,000.00
SUB-TOTAL: $12,810.80

EXCESS OF RECEIPTS OVER DISBURSEMENTS : $125.20
CASH ON HAND
Cash - January 1: $ 8,974.22
Excess Of Receipts Over Disbursements: $125.20
Cash – Ending: $9,099.42

Actions and Next Meeting

ACTIONS:
AI-2006-008: Shyla contact Sallie Street and see if Chan Furr has made any progress.

AI-2006-009: Tracy pick up rejected state corporation commission letter from Scott and review. It is missing a signature.

The TSFHOA Annual Meeting is planned for Sunday, 21 January 2007 at the Purcellville Library.