Walden Pond Homeowners Association Annual Board Meeting

December 12, 2007

Present:

Board Directors: Laura Atkinson, Don Barry, Edison McIntyre

Board Officers: Steve Williams, Paul Caruth

Property Agent: Frankie Johnson and Sheryl Morgan of Morgan Properties

Call to order at 7:22 p.m.

• After some active recruitment, a quorum was established.
• Board Directors and Officers and the property management agents introduced themselves.
• Board President Don Barry explained the purpose of the meeting - to elect Directors for the upcoming year and discuss issues.

2007 Review

• Frankie gave an overview of 2007 activities.
• She stated that the amount of outstanding past due fees was greatly reduced this year.
• The 2008 budget was reviewed item by item by the association.
• The recent retaining wall construction was discussed.

Financial reports as of December 12:

• Reserve account - $[]
• Working account - $[]

New Business:

• Laura gave an informal overview of the spending survey responses. From looking them over briefly, she was able to see that security cameras and landscaping of private areas (removal of shrubbery and addition of mulch) were ranked very highly. She said she would have the official results posted within a couple of weeks.
• There was discussion of the break-ins that have happened in the community and the arrests that have been made.
• A homeowner raised the question of whether an audit of HOA finances had been performed. There was much discussion. The issue was tabled for the new Board to pick up in January.

Election of Board Directors

• A call for nominations was put forth by Don.
• Several people were nominated but declined the nomination. Julia Caruth, Virginia Hunter and Steve Williams were nominated and accepted the nominations.
• Ballots were submitted and counted and the new Directors for 2008 are Don Barry, Steve Williams and Virginia Hunter.

Meeting dates for 2008 will be determined and announced soon by the new Board.

Meeting adjourned at 9:03 p.m.

Respectfully submitted by Laura Atkinson, Outgoing Vice-President

Walden Pond Homeowners Association Monthly Board Meeting

December 12, 2007

Present:

Board Directors: Don Barry, Steve Williams

Board Officers: To be appointed

HOA Members: Laura Atkinson, Ed McIntyre

Property Agent: Frankie Johnson and Sheryl Morgan of Morgan Properties

Call to order at 9:04 p.m.

New Business:

• Per city ordinances, the Grove Park retaining wall will have to have a fence along the top because it is higher than 30 inches. There was discussion regarding whether Aesthetics policy rules for fences apply to common property construction performed by the HOA. Frankie will get an opinion on this from the HOA's lawyer and the new Board in January will make a decision concerning type of fence.
• Requirements for audits of homeowners associations were discussed. Frankie and Sheryl stated that about three of their 25 associations have annual audits because their bylaws require it. Frankie will consult our lawyer for his opinion regarding what Walden Pond bylaws dictate. The new Board will continue discussion of this in January.

Meeting adjourned at 9:16 p.m.

Respectfully submitted by Laura Atkinson, HOA Member