BOARD OF DIRECTORS MEETING

WEDNESDAY, JUNE 11, 2003

7:30 PM

Fairhill Elementary School

FAIRFAX, VIRGINIA

AGENDA

1. CALL TO ORDER
2. INTRODUCTION OF NEW MANAGER – Rae Brown
3. APPROVAL OF MINUTES – March 19, 2003 Meeting
4. OPEN FORUM
5. COMMITTEE REPORTS, if any
6. MANAGEMENT REPORT
1. Matters for Board Decision
• Audit
2. Matters for Board Information
• May Financial Statement
• Delinquency Status Report
• Design Guidelines
• Vandalism
• Reserve Study
• Bond Release
7. OLD BUSINESS
8. NEW BUSINESS
9. OPEN FORUM
10. ADJOURNMENT

Prepared By:
Jan Ward
Community Manager

Distribution:   Board of Directors
Bill Perrelli - President        Kris Murthy - Vice President
Sean Timm - Treasurer        Mike Ingrao - Secretary
Joe O'Brien - Director


CARRIAGE LAWN AT BARKELY HOMEOWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
WEDNESDAY, JUNE 11, 2003
MANAGEMENT REPORT

1. MATTERS FOR BOARD DECISION
A1)    Audit

For Board review and decision attached is a proposal submitted by Ahlberg & Company, to perform an audit of for the year ended December 31, 2002.  Ahlberg & Company has performed the audits for the association for the past years.  The cost of the audit is $1,150.  This is a budgeted amount.

ATTACHMENTS:    Proposal



2. MATTERS FOR BOARD INFORMATION
B1)    May 2003 Financial Report

Attached for Board review and information is the May 2003 financial statement.  The statement reflect a balance in the Operating Account as of May 25, 2003 of $18,824.44 and Investments totally $30,711.47.

The two (2) CD's that are listed under the investments matured on May 28, 2003 and have been reinvested as per the board's instructions.  The new investments will be reflected in the June 2003 financial statement.

As previously reported the year-to-date expenses of the association are within the budgeted amounts, with the exception of Printing & Copying and Snow Removal.  The Board may want to consider increasing the amounts of these line items for the Fiscal Year 2004 budget.

ATTACHMENTS:    Financial Statement


B2)    Delinquency Status Report

For Board review and information there is one delinquent account.  The homeowners are on a payment plan, which they paying on time.

ATTACHEMENTS: Delinquency Status Report


B3)    Design Guideline - Revisions

As per Lisa Mullins, ARB Chairperson, there are no recommendations for revisions to the Design Guidelines.

ATTACHMENTS:    None


B4)    Vandalism

Kris Murthy has requested that this item be placed on the agenda for discussion.  This is an item that the Board may want toconsider placing in the next newsletter or send a notice to the residents for their information.

Also, I would like to bring to the Board's attention, that someone has been spraying graffiti on the wall in the storm water pond.  This was discovered by the landscaper.  I have asked CMC's casual labor to remove the graffiti.

ATTACHMENTS:    Email


B5)    Reserve Study

Since this will be my last meeting with the Carriage Lawn Board of Directors, I have asked Rae Brown, to obtain additional bids to have the Reserve Study performed.  Mr. Brown will include three (3) bids in his board package for the September meeting.

ATTACHMENTS:    None



B6)    Bond Release

Rae Brown will contact CJ Fisher of Centex Homes to inquire when the punch list walk through will be scheduled.  Mr. Brown will then contact the Board with the date.

    Note:  It has been my pleasure to work with the Carriage Lawn at Barkley Board of Directors.