Annual Meeting - 21 Jan 2010

The 2009 board convened Park Lane's annual meeting at 6pm. At the time, only about 5 homeowners were present (by the end, it was no more than 10). Two inspectors of election were chosen from the audience and began counting ballots; the association met quorum with a total of 85 ballots [it may have been 84, I don't recall exactly]. While ballots were being counted, the board president gave a statement about the association's financial situation. In short, the association is about $22,000 behind in collections; has about $10,000 in operating funds; $70,000 in the bank; and about $10,000 more in reserve. [It was unclear to me how much of this is allocated to the "reserves," and I don't have the most recent reserve study handy while I write this.] The board went on to say that it did not raise rates this year, nor does it intend to raise rates before the end of 2010. [In light of the fact that the board made no mention of cutting services, I can only assume that the $90,000 that the association currently has will only shrink over time.]

The reading of last year's annual meeting minutes was waived following a motion by yours truly, and the minutes were approved. At this point, an introduction of the candidates was made (no nominations were made from the floor). Candidates agreed to decline to make statements since ballots were already being counted and the statements would therefore not sway any opinions.

After the counting, Mark Abbott, Tom Bebrin, Tom Crowder, Evert Gerritsen, and I (John Tyner) were elected to serve as Park Lane's 2010 Board of Directors. (There was little interest in hearing vote tallies among those present, and so they were not announced.) The annual meeting was adjourned at approximately 7pm.