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¹Seven percent of the assessment total is set aside in a reserve account for maintenance, repair and replacement on a periodic basis of common elements, limited common elements and limited common property for which the Association is responsible and to cover deductible amounts for any insurance policies maintained by the Association.

NOTE: The budget has been prepared based upon what Harbor Ridge believes to be the best current estimates of future costs currently available, such as current and past operation and maintenance costs of the property or of similar properties. In preparing the budget, Harbor Ridge has assumed that all the units will be occupied during the one-year period which the budget covers and that there will be a nominal inflation rate. These estimates are not intended, nor should they be considered, as guarantees or warranties of any kind whatsoever.

Special Meeting Agenda

Harbor Ridge Condominium Association

December 5, 2009 -- 10:00 am

1.  Call to Order

2.  Roll Call of Officers

3.  Election of Officers

4.  Consideration of ratification of proposed annual budget

5.  Transaction of such business as may properly come before the meeting

6.  Adjournment

Special Meeting Minutes of December 6, 2008

Tim Letourneau called the meeting to order at 10:00 am.  Tim introduced the board members and management.  President Joan Giroux was unable to make it due to personal issues.  The owners present introduced themselves. 

A quorum of the members was present in person and by proxy.  The election of two board members was completed by proxy.  The results of the voting:  Linda Connelly had 201.5 votes, Donovan Lajoie had 132.5 votes, Dianne Lytle had 256 votes, Bill Medican had 90 votes, and Esther Rodick had 117. Linda Connelly and Dianne Lytle were both elected to five-year terms.

Margaret Austin presented the Profit and Loss Previous Year Comparison between 2007 and 2008 line by line.  It was stressed that reports are presented on the accrual basis.  It was noted that how much is billed appears on the Profit and Loss Statement and how much is still due appears on the Balance Sheet.  Rentals were down from 2007 due to the economy.  Grounds upkeep was up significantly due to the hot topping of the Clubhouse, Building 1, and Building 2’s parking lots.  Fuel expenses were up significantly.  Management is closing some buildings to keep fuel costs down.  Water and sewer expense accounts had the previous year’s final quarter payment on this year’s report.  Owners in attendance were pleased with the presentation.  Jerry Williams commented that management has done an excellent job with the management of funds and the property.  Dennis Connelly expressed concerns regarding the furniture increase in just one year.  It was explained that couches and two living room chairs were purchased for most of the property, and new king mattresses were purchased for Buildings 1 and 2.  John Buschmann asked if management was confident that they were not going to use the line of credit, and management felt that if oil stays down the association should be fine.  Donovan Lajoie made a motion to accept the budget; John Hanson seconded the motion; and the motion passed.

Interval International fees are increasing to $149 for a domestic exchange and $164 for an international exchange, if members utilize live counselors.  The membership fee is increasing from $84 to $89 on January 1, 2009.  Interval has exchanged their quality ratings.  Harbor Ridge is now a Premier resort, which is the top designation.  When placing an exchange and a member needs special needs facilities, members should contact the confirmed resort directly and immediately about your special needs request.  Special needs include wheelchair access and limited stairs.

Donovan Lajoie made a motion to adjourn the meeting, and John Hanson seconded the motion.  The meeting adjourned at 11:05 am.

Respectfully submitted,

Jerry Williams, Secretary

Special Meeting Minutes of December 1, 2007

President Joan Giroux called the meeting to order at 10:00 am.  President Giroux introduced the board members, along with introducing the prospective board members.  

A quorum of the members was present in person and by proxy.  The election of a new board member was completed by proxy.  The results of the voting:  Linda Connelly had 79 votes, Donovan Lajoie had 53 votes, Dianne Lytle had 60.5 votes, Jerry Williams had 201 votes, Carson Woods (withdrawn prior to the annual meeting) had 36 votes, and 54 blank votes were mailed in.

Treasurer Janet Franz opened the budget discussion with a description of the new Quickbooks accounting procedures.  The association financial records are now on a strictly accrual based system.  Resort Manager Margaret Austin presented and explained that the escrow accounts need to be set aside according to state statues.  She explained the 2008 budget line by line.  Bad Debt Expense is a new line item, as the developers are no longer paying back maintenance fees.  An explanation of the past collection procedure was given, and a brief introduction on the upcoming change of maintenance fee collection and foreclosure procedures due to legislation changes.  The resort has updated its credit card processing to try to lower the processing charges by asking for security codes and addresses. 

Annette Bartlett explained that the overage of computer costs was caused by new equipment costs necessitated by the increase of internet use by guests.  The Connellys noted that some DHCP servers may be able to block gaming and unacceptable websites, which would allow more bandwidth usage.  Harbor Ridge is changing its internet service provider in January, which hopefully will improve the service.  Three full-time employees have health insurance benefits.  Margaret discussed that Worker’s Compensation Insurance has increased due to some injuries, so Harbor Ridge is now paying a deductible to lower premium costs.  Maintenance fees are increasing to $397.00 per week of ownership.  

Joan brought up the issue about considering a pet allowance policy.  The resort has a policy in place to charge an owner if a guest brings a pet.  The resort has the right to evict the guest.  Licensed service animals are permitted without fee under ADA regulations.

John Hanson made a motion to accept the 2008 budget as presented.  John Buschmann seconded the motion, and budget passed unanimously. 

There will be a special assessment of $100 per week of ownership to improve the cash flow position.  The due date is May 15, 2008.  John Hanson made a motion to accept the special assessment as presented.  Jerry Williams seconded the motion, and the motion passed.

Anita Raymond wanted to know if the resort had a wish list.  Management noted that some wish list items were on the bottom of the proposed budget.  Anita requested a lower railing on the decks.  Management stated the railings cannot be modified due to building code regulations. Dianne Lytle suggested higher chairs as a solution.  John Buschmann requested that management encourage the Island Explorer to pick up guests staying at Harbor Ridge. 

The Connellys requested that Vacation Guard be discussed.  Vacation Guard offers trip cancellation insurance specifically to timeshare owners.  The company appears to offer more benefits for multiple week owners for both exchanging and staying at their home resorts.  Owner getaways are now being offered from December to the beginning of April at $95.00 per night, $125.00 for two nights, and $50.00 for each additional night. 

John Hanson made a motion to adjourn the meeting, and Bob Raymond seconded the motion.  The meeting adjourned at 11:15 am.

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