Montgomery Village News Articles
MVF 2025 Draft Budget approved for publication
During the Aug. 22 Montgomery Village Foundation (MVF) Board of Directors meeting, the Board approved publication of the 2025 MVF Draft Budget. A 30-day comment period is now open for questions and comments on the draft budget.
MVF Board President Doniele Ayres began the meeting, noting the work staff had done to prepare the draft budget. The focus for 2025, as always, is minimal assessment increase and cost-saving efficiencies. During budget preparation each year, MVF makes every effort to look at and be sensitive to increases in taxes, HOA/COA fees and general cost of living increases, while balancing services and rising operational costs.
Budget Presentation
CFO Daniel Salazar presented the draft budget summary, noting minimal proposed increases in both the MVF Fund and the DU Funds for 2025. The proposed budget includes cost-saving measures wherever applicable to maintain low assessment rates. The MVF Fund is proposed to increase to $22.02/unit/month (a $.50/unit/month increase from 2024), and the DU Fund is proposed to increase to $45.77/unit/month (a $2.25/unit/month increase from 2024).
In the MVF Fund, Salazar expected a $262,000 increase in Revenue including: assessments, service fees and Capital Contribution Fees (CCF) from the new Bloom Village and Village Center units, as well as from camps and classes. Operating Expenses also increased $262,000, and $300,000 was expected to be used from Undesignated Reserves ($251,000 to minimize the MVF assessment increase and $49,000 to subsidize User Fee programs).
Salazar noted the DU Fund expected an increase of $323,000 in Revenue from the 2024 Budget. The main driver is the proposed $2.25 increase. Personnel costs were expected to increase $55,000 mostly due to increases in minimum wage and additional seasonal personnel, as well as salary increases and increase in benefit flex dollars. Operating Costs were increased by $108,000 and Other Income was increased $123,000 compared to the 2024 Budget There is no planned use of Undesignated Reserves in 2025.
He also reported that MVF has $1.25 million in State Grants for Capital projects, which is for South Valley Park improvements.
Senior Accountant Mirna Rivas noted Contributions to Reserves (CTR) to be in line with the updated Level II Reserve Study, totaling $1.8 million for the year. The MVF Fund will contribute $300,195, CCF will contribute $40,936 and the DU Fund will contribute $1,462,346, with contributions made monthly. The Study assumes a 3% ROI and a variable inflation rate between 3.6% and 1.1%.
Major Reserve Expenses for 2025 include IT hardware and software upgrades; replacement of the annex building at the MVF Office; replacement decking on the Lake Whetstone Dock (MVF $531,000); the Stedwick Pool renovation; asphalt and concrete repairs; tennis court repairs; and replacement of the heating/cooling system at Lake Marion Community Center (DU, $4.93 million). Along with other expenses, this amounts to a necessary $5.8 million and another potential $1.5 million for a total of $7,366,084 in Reserve spending.
In the 5-Year Plan, Salazar reviewed the new unit schedule for both the Bloom Village and Village Center developments. He noted 552 total units in 2025, 576 in 2026 and 600 in 2027, 622 in 2028, and all new development units completed as of 2029. He noted in the 5-Year Plan for MVF Assessment that the 2025 Proposed Budget includes the $0.50 assessment increase, followed by an assessment increase $1.25 in 2026, $.80 in 2027, and $.75 for 2028 and 2029. Using this model, the Assessment Ceiling of $24.29 will be reached in 2028.
Salazar added that the 5-Year Plan for the DU Assessment includes the $2.25 assessment increase for 2025, followed by an increase of $1.45 in 2026, $1.30 in 2027, $1.25 in 2028, and $1.10 in 2029.
Resident Comments
The MVF 2025 Proposed Budget and budget presentation can be viewed in their entirety and are available for download here.
For the next 30 days, comments or questions can be directed to CFO Daniel Salazar via email at
Other Agenda Items
As an information item regarding the Lakeforest Property Redevelopment Update, Executive Vice President Mike Conroy informed the Board that on Monday July 29, representatives from WRS, the owner and developer of the Lakeforest property, presented their Schematic Development Plan (SDP) to a virtual audience of nearly 50 residents. Kevin Rogers, Principal of WRS, and Gary Unterberg, Senior Vice President at Rodgers Consulting reviewed the SDP and answered a number of pre-submitted and live questions.
During that meeting, Unterberg oriented the development, noting the current and proposed streets and grid pattern, and proceeded to highlight the features of each planned area. Additionally, Unterberg shared some details of a proposal by the State Highway Administration (SHA) to modify the intersections along Montgomery Village Avenue (MD 124) at MD 355, Russell Avenue, Lost Knife Road, and Midcounty Highway, saying this separate SHA project that was meant to work in conjunction with the Lakeforest development, favoring more pedestrian-friendly intersections and adjusted traffic flow at each location.
Conroy further informed the Board that an in-person community meeting with SHA has been scheduled for 7 to 8:30 p.m. on Wednesday, Sept. 18 at North Creek Community Center, to present and discuss the proposal along Montgomery Village Avenue, and its impact on traffic flow entering and exiting the Village. The meeting should provide a better understanding of the purpose of the proposed changes, opportunities for input, alternatives, project timeline, etc. so MVF and the community have the opportunity to address concerns with SHA and work toward a solution that benefits Village residents and compliments the redevelopment of the Lakeforest site.
He also said he and MVF General Counsel Christopher Hitchens spoke with SHA Senior Safety Officer Joseph Moges regarding the proposal, who noted the proposal was based on SHA’s Pedestrian Safety Action Plan (PSAP), which identified this corridor as one of the highest priorities for improvement in the county. Moges also indicated there would be additional opportunities for input through SHA workshops (dates currently not available).
In other actions, the MVF Board approved the purchase of Engineering Services for Microsoft 365 migration from Dresner Group for $17,613.96 and an additional 10% for any unforeseen circumstances, not to exceed $19,375.36.
President’s Remarks
MVF Board President Doniele Ayres extended her best wishes to all Village students, administrators, staff and everyone else involved in education on a successful school year. She also thanked the MVF staff on everything they did to make the summer programs, activities and events for residents.
EVP Report
EVP Conroy highlighted several development projects in the community. He said Montgomery Parks had just opened its newly renovated playground and pavilion area at Centerway Local Park (located next Whetstone Elementary School). This county park was upgraded with a $500,000 bond secured by Senator Nancy King.
Conroy also noted that the first townhouses were under construction in the rear of the Village Center, and construction access for Bloom Village Area 2 had been cut through on Watkins Mill Road. Additionally, MCDOT confirmed the All-Way Stop sign installations on East Village Avenue would be complete by October. He said as soon as notification is received, information will be relayed to residents regarding the new traffic pattern.
Conroy also said that MVF will host a virtual Community Safety meeting with MCPD Chief Yamada and 6th District Police Commander Stancliff on Monday, Sept. 23, at 6:30 p.m.
In closing, he recognized Student Representative Olivia Ormsby for her dedication, eagerness and the great projects she completed for the MVF staff this summer.
Treasurer’s Report
Treasurer Tom Wills presented the Treasurer’s Report for the year-to-date (YTD) and month ending July 31, 2024, noting that overall, all MVF funds were ahead of budget projections by approximately $1 million, driven by higher Revenues in Investments ($533,000) Grant Revenues ($192,000), Camps and Classes ($119,000) and Pool Membership/Fees ($68,000). Personnel and Operating costs were favorable to the budget by $81,000 and $31,000, respectively.
He added that part of the Net Income is due to the reduction of expenses, in particular Personnel costs due to the vacant community manager position. Wills also noted higher Operating Expenses due to costs associated with the pools being open more days than previous years, an increase in fees for registration software, and snow removal fees from earlier this year.
Wills noted total Revenues were $6,899,619 and Operating Expenses were $5,146,182 through July; both were favorable to the budget.
Wills said 361 units had been sold in Bloom Village and 27 units sold in Overlook, making Capital Contribution Fees favorable to the budget through the end of the month.
He said the Balance Sheet continues to reflect MVF’s strong financial position having $13.9 million held in Cash and Investments. MVF continues to hold about $3.7 million in Undesignated Reserves. Assessment Receivables saw an overall increase from last year, and the Delinquency Rate for July was reported at 20% (1,697 units) with last year’s delinquency rate for the same period slightly lower at 18.3% (1,550 units).
Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Sept. 26, as a conference call/Zoom meeting. Residents are invited to join the call; full meeting details, the meeting packet and/or participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.
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