MVF Board thanks volunteers at December meeting

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by Mike Conroy
Before the December 7 Montgomery Village Foundation (MVF) Board of Directors meeting, volunteers on local association boards and committees were thanked for their service during the year. Volunteers were invited to a reception where MVF Board President Pete Young spoke about their involvement in the community. Young said he was grateful to live in a place where so many volunteered their time and talents to keeping the community at its best.  He was proud of the contributions all had made in recent years, which have translated into actionable and physical investment and reinvestment in the Village.

Young thanked other special guests including Senator Nancy King, Delegate Charles Barkley, County Councilmember Nancy Floreen, 6th District Police Commander Dinesh Patil and his team and Watkins Mill and Gaithersburg high school principals Carol Goddard and Christine Handy for attending and for their work in the community as well.

Agenda Items
The Board approved a short list of action items at the final meeting of 2017. In personnel-related matters, the Executive Vice President (EVP) was authorized to negotiate and execute contracts for 2018 insurance and healthcare coverage, both of which are standard year-end contracts. Revisions to the MVF Computer Usage Policy were also approved; this policy was updated to reflect current practices and technology used in the MVF Office.

President’s Remarks
Board President Young announced the resignation of Board member Tammy Allison. The Board will seek applicants for appointment to fill the vacancy, per the established procedure; however, the procedure will not be enacted until after the 2018 Board Election. At that time, applications will be released and a deadline for submission will be established. Allison’s term expires in 2020.

EVP Report
In the absence of EVP Dave Humpton, Assistant EVP Mike Conroy gave the report. Conroy also thanked the board and committee volunteers for their service to the community throughout the year. He gave a special nod to the MVF Board, who has worked hard to maintain the community and quality of life in the Village over the last several years.

Conroy noted that Humpton had recently attended the county’s CIP community meeting, where MVF requested the CIP include funds to repave Watkins Mill Road and improve the intersection at Montgomery Village Avenue and Lake Shore Drive. These are in line with the larger list of transportation priorities MVF sent to the county council earlier this year.

He also said that staff was working on potential locations and process for installation of a digital sign to announce Village events and information. A digital sign would need to be approved by the Montgomery County Sign Review Board, and would be subject to conform to the sign ordinance. 

Conroy also mentioned several holiday community events, including the Winter Jazz Concert scheduled for 7:30 p.m. on Monday, Dec. 18 in North Creek Community Center, 20125 Arrowhead Road. Finally, he said the new Winter Recreation Guide was recently distributed with the Dec. 1 Village News and posted online. The guide features a new layout, as well as interactivity online, which directs users straight to registration for programs.

Treasurer’s Report
CFO Greg Snellings gave the Treasurer’s Report, noting the financial health of the organization through October 31. He reported that year-to-date (YTD) Revenue was $7 million, with Net Income of $180,000, a $162,000 favorable showing to the budget. Based on these figures, he was confident the Board made wise choices regarding positive changes to recently approved the 2018 Budget.

Snellings noted that YTD the Capital Contribution Fee has brought in excess of $131,000, which did not include the recognized, but not realized amount of $32,000 from the sale of the Walker House Apartments.

He also reported that the Balance Sheet continued to reflect MVF’s strong financial position with nearly 42% of assets in Cash or Investments. Snellings said MVF currently has $1.8 million in Undesignated Reserves and continues to manage that money by using the related cash for Reserve Fund Expenses. Snellings further explained the return on the Reserve Fund is ahead of expectations because the money continues to be invested and benefits from favorable market conditions.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Jan. 25 in the North Creek Board Room, 20125 Arrowhead Road. The meeting begins promptly at 7:30 p.m. with Residents Time. There will be a “Meet the Candidates” time prior to the meeting, beginning at 7 p.m., to meet the candidates nominated to run in the 2018 MVF Board election. Residents are invited and encouraged to attend. The meeting agenda and information packet will be available online at the week of the meeting.