by Mike Conroy
At the Montgomery Village Foundation (MVF) Board of Directors annual retreat in June, the Board discussed ways to meet its strategic goals, including continued partnership with Village schools. Part of that discussion involved the creation of a non-voting Student Representative position on the MVF Board of Directors. At the July 27 MVF Board meeting, the Board approved a proposal from two of its members to begin this process.
The Student Representative will serve a 9-month term on the Board, from the March Annual Meeting through December. In the summer months—June through August—the student will also participate in day-to-day operations as an intern in the MVF Office. The aim of this program is to provide an opportunity for young Village citizens to understand how MVF works, not just at the Board level, but how the organization works for the betterment of the community; gain valuable volunteer and leadership experience; and become personally invested in their community.
Full criteria and application deadlines for the position will be announced later this year online and in the Village News.
Other Agenda Items
The Board approved architectural criteria revisions for Maryland Place and Stedwick Clusters I, II and III. The Maryland Place changes included the addition of elevated deck steps, a decision supported by the Maryland Place Homes Corporation. In Stedwick, an additional metal deck railing option was added. This change was considered based on homeowner inquiry and support from the Stedwick Homes Corporation.
A list of MVF Transportation Priorities, which is based on the Transportation Policy and involvement in the MV Master Plan process, was approved. The Board directed Executive Vice President (EVP) Dave Humpton to transmit the priority list to county and state elected officials for consideration in the county’s upcoming CIP and state projects.
The Board approved the Communications Committee recommendation for a new resident-focused branding campaign, which will use digital content and short video interviews to showcase Village residents.
In working toward another strategic goal of making MVF a “green” operation, the Board approved a proposal from Brigade Holdings, Inc. for light replacement at Stedwick Community Center. The proposal includes retrofitting interior and exterior lights in the community center, bath house, parking lot and pool deck with LED lights, similar to work that was previously done at the MVF Office and Lake Marion Community Center by another vendor.
Board President Pete Young thanked Peggy Mark for her 41 years of service to MVF. He noted that the hard work of the Recreation staff, both full time and seasonal, is noticed by members of the community, and he attributed their professional training to Peggy’s leadership over the years. Young also thanked those involved in planning Peggy’s retirement event, noting it was a fun evening to celebrate Peggy’s time with MVF.
EVP Humpton updated the Board on legislation regarding the state and county Roadway Reimbursement programs. He said that in recent years, Village homes corporations have received decreasing amounts of money from this program, mainly due to lowered county funds. Montgomery County is considering repealing the law, which would leave a large burden on HOAs to cover the costs of maintaining public-private streets.
Humpton also said he recently attended a county planning meeting for the former golf course property development. At the meeting, the Planning Department told property owner Monument Realty that due to recent engineering findings, they could not support parts of the concept plan that they had previously indicated they were in favor of. This signals some plan changes that need to happen in a very short time-frame to keep the project on track. Humpton urged the Board to continue to support the project, noting that the “Central Park is an amenity we don’t want to lose—the plans are beautiful!”
Treasurer Bob Carey reported that MVF remains in a strong financial position, and gave figures for both the month of June and the year-to-date (YTD). Carey noted that at the end of June, MVF had $7.4 million in Cash and Investments.
Revenue was reported as $752,705 for the month, and $4.4 million YTD which is favorable to the budget. Revenue from investments and pool memberships are doing well, and are offset by assessments, advertising and camps and classes.
Carey said Expenses for June were $890,000 and $3.6 million YTD, which is favorable to the budget. Operating costs were also favorable for both the month and YTD, mainly due to reduced office expenses.
Net Income was $784,000 YTD, which is favorable to the budget by 50%. Delinquencies are holding steady at 7%; Carey reported that Delinquencies have remained below 8% for the last five financial quarters.
The Investment Committee recently met and noted the Return on Investments is still favorable. They also discussed the potential to slightly increase the percentages for investments in certain categories, as some are at their current limits.
The MVF Board of Directors and Audit Committee are scheduled to meet at 7 p.m. on Thursday, Aug. 24 at Stedwick Community Center, 10401 Stedwick Road, to discuss the 2018 MVF Draft Budget. The regular MVF Board meeting is scheduled immediately following. Residents are invited and encouraged to attend either meeting. The meeting agenda and information packet will be available online at www.montgomeryvillage.com the week of the meeting.