Nominating Committee members appointed at MVF Board meeting

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by Mike Conroy

Two Village residents have answered the call for membership on the Montgomery Village Foundation (MVF) Nominating Committee. At the August 25 MVF Board of Directors meeting, Jeff McCloskey and Benjamin Davis were appointed to the committee, filling a vacancy from a retiring member and extending the membership of the committee. The Nominating Committee establishes the MVF Board of Directors candidate application and guidelines, reviews submitted applications and sets the slate of candidates for annual MVF Board of Directors election.

The Board also approved the 2017 Draft Budget for publication. The proposed budget includes an $.85/unit/month increase in the MVF Fee and a $1.40/unit/month increase in the Designated User (DU) Fee; for more information on the 2017 Draft Budget, see the article on page 1 and the proposed budget insert on pages 29 to 36 of this issue.

President’s Remarks
MVF Board President Pete Young thanked the MVF staff and the Audit Committee for their work in preparing and reviewing the budget. He noted that their hard work made it easier for the Board to review and approve the budget for publication. Young also noted that the seasonal staff’s dedication made summer activities at camps and the pools enjoyable. He said that staff did an excellent job making sure pools were adequately staffed with minimal closures throughout the season.

EVP Report
Executive Vice President (EVP) Dave Humpton relayed meeting dates for some upcoming community meetings to the Board. He mentioned 6th District Police Commander Dinesh Patil and other officers would discuss the body camera program and other statistics and prevention techniques with residents at 7 p.m. on Thursday, Sept. 15 in the North Creek Board Room, 20125 Arrowhead Road. Humpton also noted that Montgomery County Councilmember Craig Rice is hosting a community meeting at 6:30 p.m. on Wednesday, Sept. 28 at Watkins Mill High School, 10301 Apple Ridge Road. Councilmember Rice will focus on topics of interest to Village residents including transportation and road updates; development in the Village (former golf course property and the Village Center) and around the county; school issues; and more.

Humpton also said he would be meeting with the Whetstone Homes Corporation (WHC) Board of Directors soon to discuss the restrictive covenant that was placed on the Professional Center property by the Kettler Brothers during development. Humpton said the purpose of the meeting would be to get input from WHC as to what types of future facilities would be objectionable on the Professional Center site.

Treasurer’s Report
Treasurer Beth-Ellen Berry gave the financial report for the month of July and the year-to-date (YTD). Berry noted that Revenue for both the month and YTD were running favorable to the budget, with Investment Income being the driver for any surplus. Personnel Expenses were showing slightly over budget for the month and YTD, but Berry explained this was mostly due to payroll timing with seasonal employees. Operating Expenses are generally running favorable to the budget across the board.
Contributions to Reserves (CTR) in the amount of $85,434 were made in July, in accordance with the budget; CTR total $598,040 YTD. The Capital Contribution Fee has grossed $81,688 YTD including $13,036 in July. Year-to-date, approximately $444,000 has been spent on Reserve Assets. MVF saw a Net Loss of $105,593. For July, but has approximately $993,000 Net Income YTD, which is running favorable to the budget by over $357,000.

As of July 31, 2016, the Balance Sheet shows that MVF has over $8.7 million in Cash and Investments, retaining a very solid financial position. Of those liquid assets, just under $2 million is in Undesignated Reserves, with over $6.7 million in Designated Reserves. Berry reported that delinquencies, bankruptcies and assessment receivables were all decreasing, showing a positive trend from collections activity.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Sept. 22 in the North Creek Board Room, 20125 Arrowhead Road. The meeting begins promptly at 7:30 p.m. with Residents Time. Residents are invited and encouraged to attend. The meeting agenda and information packet will be available online the week of the meeting.