October 30, 2004

To: Woodbury Park Homeowner's

Subject: Minutes of the October 27, 2004 General Meeting

For your information, attached are the Minutes for the October 27^th, 2004 General Meeting. Also, it was suggested that we poll the homeowners ahead of time about what improvements that you would like or what you would suggest to change. Please fill out and return the attached form to any one of the board members. If you lose the form between now and the spring meeting, a handwritten note is fine! The whole point is to get a better idea of what the homeowners want for their subdivision in addition to the maintenance as stated in the corporate by-laws.

Also, the Woodbury Park Homeowner's website is up and running. The link is http://woodbury-park.org.

Russ F Bob P

Jim L Bill S

Michelle P

Name (optional) _________________________________________________________

Suggested Improvements for 2004/2005______________________________________

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Suggested Changes for 2004/2005___________________________________________

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Woodbury Park Association Homeowner's Meeting

Held at Taylor Elementary School

October 27^th, 2004

Meeting called to order at 7:41 pm.

17 households present.

Russ F motioned to accept the minutes from the May 12^th, 2004 meeting. Motion seconded by Nick T. Motion carried – meeting minutes approved.

Note on the October 14^th minutes by John S – the minutes didn’t reflect that some people were opposed to adding the bylaws.

President’s Report

Jim L briefly reviewed:

· Beautification expenditures.

· The mailboxes are not going to hold up forever, and we need a long-term plan.

· The Architectural and Maintenance committees operations are our goal for the coming year. We need more volunteers and a better understanding of how the committees should operate.

Treasurer’s Report

Russ F reviewed the profit and loss statement, the balance sheet, the actual vs. forecast, as well as the proposed budget for 2005.

• We have a potential to add a reserve for replacing the mailboxes in the future.
• We do receive a commercial rate for water.

Larry K motioned to accept the 2005 budget. Motion seconded by Nick T. Motion carried – 2005 budget approved.

By-Laws

Unfortunately, the discussion on the bylaws brought several issues that we were unable to resolve. The discussion included:

• Do we need a majority vote to adopt the by-laws?
• We need to specifically call out the financial review as required at a minimum of every other year by volunteers other than the board or by a CPA if no volunteers step forward.
• By-laws are intended to govern the board.
• Two issues on proxies. First, should they be assigned to specific issues or anything that comes up in a specific meeting? General consensus was it should be limited to a specific issue. Second, should the number of proxies given to any one person be limited? There was no general consensus on this matter.
• Emergency needs to be clearly defined (Expenditure Authority Section)
• Better define the “Business of the Association” regarding minimum members requirements for voting so as not to be noncompliance with the deed restrictions on matters that required a majority vote.
• The goal is to finish and vote on the by-laws at the spring meeting.

Debby B motioned to create a committee to finish the by-laws and bring to the spring meeting. Motioned seconded by Russ F. Motion carried – By-Law committee created and volunteers identified. If you would like to participate on the committee, contact Bill S

Election of Officers

• Treasurer
• Russ F and Dan Z were nominated.
• Russ F elected to position through ballot.
• Secretary
• Michelle P was nominated.
• Michelle P elected to position.

Meeting Close

Jim L motioned to close meeting. Motion seconded by Larry K. Motion carried – meeting closed at 9:12 pm.