June MVF Board meeting update
by Mike Conroy
The Montgomery Village Foundation (MVF) Board of Directors met on June 22 for their monthly business meeting to discuss a number of topics on the agenda, including recreation-related requests and updates to some community criteria.
Criteria for The Points neighborhood in Northgate were updated to allow front door accent colors, after consideration from the Northgate Homes Corporation and recommendation from the Architectural Review Board and Design Consultant. Northgate residents can access the revised criteria from their Member Dashboard at www.montgomeryvillage.com.
In recreation-related items, the Board approved a bid for replacement of the North Creek Community Center floor for $23,374 (plus additional funds for damaged subflooring and unforeseen expenses, if necessary) to Frederick Tile, Inc. The floor will be replaced with similar materials used for the Stedwick Community Center and Lake Marion Activity Room floors.
Based on recommendation from the Recreation Committee, the Board awarded a bid for the McKendree Playground replacement to Playground Specialists, Inc. The committee considered several vendors, designs and play features before settling on the proposal put forth by Playground Specialists. A Reserve expenditure of $45,000, plus an additional 10% for unforeseen expenses was approved for this project.
Playground Specialists was also awarded a bid for $20,825 to the replacement of engineered wood fiber for park and designated user playgrounds. The 595 cubic yards of material is needed to maintain MVF-owned playgrounds to national playground standards for fall protection.
Revisions to the MVF Towing Policy to bring consistency between the policy and signage at MVF-owned properties were also approved. The Recreation Committee had previously held off on changes to the policy to make sure any further revisions to county laws were complete.
Finally, the Board authorized the EVP to enter into a 2-year contract for auditing services with DeLeon & Stang. MVF’s previously contracted auditor, Draper & McGinley terminated their auditing services effective May 31, and DeLeon & Stang will honor the remainder of the previous contract.
President’s Remarks
Board President Pete Young thanked staff for implementing and residents for attending the Apple Ridge Pool Ribbon Cutting Ceremony the night before. He noted that residents were enjoying all facets of the pool, and it was nice to recognize the many partners and individuals who were instrumental in bringing this project to fruition.
EVP Report
Executive Vice President Dave Humpton led discussion on the county’s proposed short-term rental legislation. General Counsel Christopher Hitchens provided background on the legislation and changes that had previously been made to address county resident concerns. The Board discussed the legislation, noting several concerns for parking, enforcement and emergency contact mechanisms. They were in agreement that they should support the legislation, provided it was able to incorporate language to properly deal with the identified concerns.
Humpton also noted the county council has been working for about a year on redeveloping its process to approve cell phone towers, especially smaller towers that can be placed in residential areas. A Zoning Text Amendment (ZTA) is being developed by the county and public hearings will be held once it is released. He noted the focus seems to be on placing the towers in county rights of way. MVF Staff will monitor this topic and relay updates and meeting announcements to the Board and community as they are announced.
Treasurer’s Report
In the absence of both the Treasurer and CFO, EVP Humpton gave the Treasurer’s Report, noting MVF’s continued solid financial position for both the month of May and the year-to-date (YTD). Humpton said that for both the month and YTD, MVF is ahead of budget projections.
Net Income was reported at $899,000 YTD which is favorable to the budget by $294,000, primarily due to investment returns, pool memberships, camps and classes and the Capital Contribution Fees. This is partially offset by lower than expected advertising revenue.
Personnel costs remain favorable to the budget due to earlier vacancies in full time positions and lower than expected seasonal wages; seasonal wages will increase in the coming months. Operating costs are $195,000 favorable to the budget due to lower than expected costs across most cost centers.
Contributions to Reserves were made in accordance with the budget; $90,830 for May and a total of $454,150 YTD. The Balance Sheet reflects MVF’s solid financial position showing $7.6 million in Cash and Investments. Over $1.5 million YTD was moved to Fixed Assets for the Apple Ridge Pool renovation; Humpton noted that the pool is now fully paid for.
Due to the success of the changes to the Collection Policy, Assessment Receivables continue to improve and keep delinquencies low. Humpton also noted the Operating Fund is maintaining a nearly $2.2 million Undesignated Reserve balance.
Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, July 27, 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 Board meeting. The meeting agenda and information packet will be available online at www.montgomeryvillage.com the week of the meeting.