SKI WATCH ESTATES HOMEOWNERS ASSOCIATION

Board Meeting Minutes – October 2^nd, 2007

Present:

Bill Baggett, Frank Harwood, Morris Ross, Shawn McCann, Mike Trabold, Charlie Bockwith, Ed Hewes, Jeff Harber

Secretary:

Minutes from the 8-20-07 Meeting were reviewed and approved.

Treasurer Report:

Anticipated carry-over into 2007 is expected to be ~$1800. Mike prepared a draft budget for 2008 based on dues of $710 per lot. Several budget items were reduced in order to lower the proposed dues to ~$615 per lot. Mike will revise the proposed budget and email the update to the Board.

CC&R Revisions:

The proposed CC&R revisions were reviewed and several changes / clarifications were made. Frank will email this updated version to the Board members and Shawn will email it to all other members we can make contact with to seek comments and determine if the members have any objections to the proposed changes. Frank will contact the Attorney and have the document reviewed as soon as possible. Our final revision will be sent out (email or hardcopy) with the annual meeting notice in early November.

Street Lights

The proposed budget for 2008 includes $3000 for utilities. This is based on this year’s expenses (~$1500) plus additional funds to cover an increase in charges for new street lights for ~6 months (currently ~$40 per month, expected to be ~$250-300 per month for 8-10 lights starting in mid-2008).

Annual Meeting:

Saturday, December 8^th was selected as the date for the Annual Meeting. Annual Meeting notices will be sent by November 1^st (email or mail). The notice will include the meeting logistics / agenda, proxy forms, proposed 2008 budget, and proposed CC&R revisions. The agenda will be as follows:

1. Election of 2008 Board Members

2. 2008 Budget Review / Approval

3. CC&R Revision Review / Approval

Adjourn:

S. McCann, Secretary