Finance Committee Minutes, August 18, 2009
The Finance Committee of the Falls Run Homeowners’ Association met this afternoon in the Center.
Personnel in Attendance: Bill Trzyna, John Frisch, Nancy Garner, Sanya Ham, and Casey Naatjes. Tom Whalen, Jack Mounts, Don Horen, Ann Jones, and Debbie Sutton also attended.
Recognition of Bill Trzyna’s Contributions:
We noted Bill’s withdrawal from duties as the primary point of contact for Center financial operations, due to eye surgeries for his son and the attendant need to support him. The committee thanks Bill for his outstanding support and looks forward to his return after his son’s recuperation is complete.
Operating Budget for 2010
The committee reviewed the Base Case for 2010, as well as outstanding committee requests that were not included in the Base Case. The Base Case includes a recommended Expense Budget of $1,758,000 for 2010 – a 4.8% increase over 2009 budget levels. A few of the most significant budget items are summarized here.
Funding for an “industrial strength” printer.
Recognition that certain office furnishings would more properly be funded from Reserve Funds.
Provision for some professional automated support.
Several contract proposals were reviewed and appropriate adjustments made to those budget lines. One notable exception was the snow removal contract.
The committee agreed to fund Utilities at 5% over the 2009 budget
Our Base Case Expenditure Total includes a 3.5% “placeholder” for payroll changes as the Board may determine at a later date.
The Property and Grounds Committee Request included $20,000 for a common area upgrade and a $25,000 increase in the Master Plan. The committee did not make a recommendation on these items, preferring to pass the action to the Board.
Reserve fund Budget for 2010
We opened discussions on the Reserve Budget. Don Horan suggested an improved budget format. It was decided to use his format in preparation for the next committee meeting.
Adjournment: 4:30 pm.
Casey Naatjes, Chair