The meeting was called to order by Sidney Bonte at 11:25 after a quorum was met.

Board Members in Attendance: Sidney Bonte, Charlie West, Dennis Funk

Sidney: Welcome
Accomplishment list
Purpose of the meeting
Next year's list of tasks

A concern was raised regarding dues collection. The question was put forth about whether a vote was taken at last year's meeting to accept the dues collection policy. Sidney explained that it was and that the Board has the authority to adopt policies and procedures and this includes dues collection.

While the minutes from the last meeting were posted on the website, the Board felt they needed a chance to see the minutes before approval, so the Board will approve the minutes of last year's meeting at our next regularly scheduled Board Meeting.

Dennis discussed the website. It was recommended that we set up a listserve and Dennis will work with Brian Berg to get this accomplished. Homeowners were invited to check the website regularly so that it can become more useful to the group.

Dennis presented an Evacuation Plan for Riverwalk that included the basic procedures in case an emergency evacuation is required. This plan will be posted to the website along with a more comprehensive Emergency Planning document.

Charlie reviewed the budget for the past year. He has placed $6,000 in an interest-bearing CD account and our current checking balance is $15,260.00. Charlie also reviewed the Profit and Loss statement for the year.

Charlie presented the proposed budget for 2008 and went over each line so that everyone understood each item and where their money was being spent.
" Barry Vitcov proposed we look into management because of the amount of work Charlie faces as Treasurer. The Board will look into management costs for further review
" Charlie requested that any homeowner with information regarding the selection of an auditor or manager would be most appreciated.
" Charlie explained that $2,500 was being budgeted to address park row issues.
" A question was posed regarding fence repair and it was explained that fence repair is the responsibility of each homeowner and not the Association.

Dennis moved that the proposed budget be accepted, Sidney seconded it, and the Board approved the proposed budget for 2008.

Board Election:

One position on the Board was up for election and ballots were passed out. Trish West and Pat Bates were selected to count the ballots.

Dolly Travers recommended we move toward a five-member Board. After much discussion, Dolly moved and Barry seconded the motion that we establish a five-member Board. At issue is the fact that the Bylaws and CC&Rs do not currently stipulate a five-member Board. The recommendation by the group was to elect two additional members and allow them to be non-voting members until such time as the Bylaws and CC&Rs can be modified. This motion was passed by a majority vote of raised hands.

Nominations were taken for the empty slot as well as the two additional non-voting members that the group had just voted on. Only two names were nominated: Perry Anderson and Tony Trouse. A vote was taken and after the votes and proxies were counted, the vote was a tie with 12 votes each. Perry Anderson conceded the vote and Tony Trouse became the new Board member.

New Business:

At the suggestion of Bret DeForest, Charlie agreed to investigate 2 or 3 proposals for auditing the Association's financial records.

Charlie indicated he would be sending out payment coupons for 2008 to those homeowners who appear to need reminders about paying their dues.

Charlie will investigate the services (and costs) that might be provided by a management company, particularly as it relates to financial transactions and records.

Sidney received names from several homeowners who were willing to volunteer to work on committees to handle Association matters. Landscaping Committee: Gretchen Thiel, Renee Gumpel, John Rinaldi, Dolly Travers. Architectural Review: Pat Bates.

Audience comments were received regarding holding quarterly public Board meetings. Sentiment was evenly divided about holding them on Saturdays or weekday evenings. The Board will consider holding two of each per year.

The meeting was adjourned at 12:50pm

Respectfully submitted,

Dennis Funk
Secretary to the Board
Riverwalk Homeowners Association