Board of Directors Unapproved Minutes
February 23, 2019
Motion by R Karbon, seconded by V. Kaszonyi to amend
Policy # 7:01 to allow the Resource Fund to invest up to 50%
in equities. Yes votes: R Karbon, M. Ames, V. Kaszonyi, M.
Smith, F. Calabro; T. Chambers; A. Lifsey; and N. Thurston.
No votes: B. Cook. Motion Passed.
Executive Session 9:00 a.m.
The Board of Directors discussed:
• Two member issues
Regular Session Immediately following Executive
Session
R. Karbon called the meeting to order at 9:35 a.m.
Property Owners Committee. R. Karbon announced that
member Cassie Cotner has volunteered to chair this
committee. He indicated that Cassie has requested that
each Board of Director provide two-member names to
serve on the committee. R. Karbon addressed the desire
to have diversity of member property owners
represented on the committee. R. Karbon indicated a
Board of Director Liaison was needed for this committee.
A. Lifsey volunteered to be the Board Liaison. Directors
are to send their nominations for members to serve on
the committee to R. Karbon.
Pledge of Allegiance
Roll Call by Recording Secretary (Board Secretary
acting in this capacity for this meeting)
Present: R Karbon, President; Matt Ames, Vice President;
Viki Kaszonyi, Treasurer; Mark Smith, Secretary; Fred
Calabro, Tim Chambers, Bill Cook, Al Lifsey, Nancy
Thurston.
Eric Johnson, Manager
Nominating Committee. R. Karbon reported that he had
received inputs of member names to serve on the
committee from the directors. It was agreed that last
year’s Committee Chairman would pass some committee
artifacts to this year’s Chairman.
Approval of the Consent Agenda
1. Approval of February 2019 Board Agenda
2. Approval of January 19,2019 Board Minutes
3. Security Patrol Report for January 2019
Motion by N. Thurston, seconded by M. Ames to approve
the Consent Agenda for the February 23, 2019 Board of
Directors Meeting. Motion passed unanimously.
Financial
V. Kaszonyi provided a brief update on the effort to
migrate the financial tracking and reporting that is
presented to the Board of Directors to a more detailed
and meaningful display of information. She reported
that this effort is a work in progress and related that the
Board of Directors had participated in an hour-long
training session prior to the start of Executive Session
this date. The Board will continue discussions as new
tracking documents are finalized and begin using these
documents in the near future. V. Kaszonyi then covered
the Financial Statement for the month of January 2020.
Committee Reports
Recreation Committee. R. Karbon reported that member
Pat Earl has volunteered to chair this committee.
Investment Committee. R. Karbon provided information
regarding the committee recommendation to change the
investment strategy that is currently addressed within
Policy 7:01. The change is related to the committee’s
consideration of a recommendation made to them by the
UBS Fund Manager who recommends a slightly more
aggressive investment strategy than what the current
policy stipulates. R. Karbon requested E. Johnson read
the current policy while it was displayed on the overhead.
During the discussion it was pointed out where the
change in the policy would be reflected in the policy
text. The proposed policy change allows up to 50% of
the Resource Fund’s investable assets to be allocated to
equities. The current policy allows up to 40% to be
invested in equities. This change is a result of a
recommendation from our UBS account manager and a
thorough discussion among the Investment Committee.
During the discussion it was stressed that the investment
percentage is ‘up to’ 50%. As this is a Policy Change,
two readings are required. The below motion will be
read again at the March 23, 2019 Board Meeting.
Motion by M. Ames, seconded by A. Lifsey to approve the
Treasurer’s report as presented.
Motion passed unanimously.
New Member Applications
Names of applicants for first and second readings were
in the Board Packets. In order to assure the vote of the
Board was secured before February 15, 2019 an email vote
of the Board of Directors was conducted. There was no
voting at this Board of Directors meeting. Approved
applicants are:
First Readings. Applicant names are: Gordon and
Angela Morse; Ryan and Meredith Warnecke; Lindsey
Delodder; Karen Wray; and Shawn and Kresta Baker.
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