R.I.I.A. BOARD SPECIAL MEETING MINUTES

April 6, 2015, 7:00 PM

All Saints Center, Raft Island

The purpose of the Special Meeting was to approve the ballot for the recommended By-Law and CC&R changes for the Annual meeting and to approve the ballot for a Phase I roads study.  Anne Scea, Treasurer, added an agenda item – review of our updated reserve balances and a question about next year’s budget. All Board members were present except Jud Morris.  Roads committee members Jim McReynolds and Tom Straub were also present.

  1. By-law, CC&R changes discussion:  After discussion it was moved, seconded and passed that the language specified by the committee formed to revise these governing documents was satisfactory.  Rich Swenson, President, will ask Juanita to help provide the actual wording for the ballot and he will send out a draft by email for approval by Board members.

  1. Phase I roads study ballot discussion and approval:  Sample wording (two versions) for this ballot was distributed and discussed. The discussion centered upon the scope of Phase I work, current asphalt condition, which engineering firm would likely take the job and their qualifications and the likely cost of such an extensive survey.  A motion was made by Charlotte Crain, VP, seconded and passed that we accept the Phase I ballot wording to be put before the Island at the Annual meeting, provided the roads committee led by Jim McReynolds edit the wording to more correctly state the total cost of Phase I and the scope of the work and final wording be sent to Rich for Board approval.

  1. Reserves and Budget discussion:  Anne reviewed and the Board discussed updated reserve balances from both the road reserve and the general fund reserve. The numbers show total reserves available for roads to be $578,342, assuming 100% payment of dues, and total General Fund reserves to be $205,157. She said a reserve study from a professional was required next year and that we would need $2,400 more in the 2015-16 budget for this study.  She moved that we increase the budget by this amount.  The motion was seconded and passed.

The meeting was adjourned.

Respectfully submitted,

Sarah Brown, Secretary