Notes from 1/27/09 Finance Committee (FC) Meeting

Attendees: Rick Barrett, Austin Godfrey, Davor Gjivoje, John Murray, Bob Yingling, Terry Dwyer

Subcommittees to investigate future costs and funding (or defunding) options for major assets:

Water Company

- future costs – Rick

- funding/defunding sources (e.g. outsourcing) – Rick & Terry

Clubhouse - John

Roads - Austin

Lake & Other Recreational Venues - Austin

Land – Bob, Rick & John

Dues, Fees, Assessments – Davor & Austin

Reserve Analysis – Terry & Bob

Bob will create a spreadsheet to capture the anticipated costs over say the next 20 years. Please send your info to Bob. This will lead to a “typical” per-year MKL budget over the next 20 years.

John will propose how to re-start the Long Range Planning (LRP) effort in coordination with the FC. The suggestion was for

- the FC to concentrate on current asset maintenance/financing

- LRP to identify future enhancements. Two lists: major & incidental

- the Association board to select the most promising of the major enhancements for FC analysis

- FC to analyze how to accommodate the enhancements identified by the Association board.

Next Meeting: end of March (Terry to set up)