MVF Board approves funds for Theater Pond Improvements, Addresses Spotless Brands' Car Wash Development and more...

The Montgomery Village Foundation (MVF) Board of Directors approved the following at the July 23, 2026 meeting:

• Approving additional funds for services and additional expenses for engineering services from Gutschick, Little & Weber, P.A. for Theater Pond Improvements for a total additional amount of $13,500. The motion was seconded and passed unanimously.
• Sending the letter to Spotless Brands opposing the proposed car wash development on behalf of the MVF Board of Directors. The motion was seconded and passed unanimously.
• Approve the authorization of engagement of CINC Systems to Replace Jenark management platform operating System. The motion was seconded and passed unanimously.

President’s Remarks
Board President Susan Prince thanked MVF staff for working on putting on the Independence Day Parade as scheduled, despite having to make scheduling adjustments and cancelling the celebration due to excessive heat.

Interim EVP Report
MVF interim Executive Vice President Karen Kodjanian reported that roadwork on Montgomery Village Avenue has been completed. Ms. Kodjanian is also working with staff to develop a plan to host a New Residents Orientation every quarter instead of once a year.

Information Items
1. Assistant Director of Recreation and Parks Amy Potocko presented the findings of the annual Canada goose count. On the weekend of June 26, a count of geese at Village parks including lakes and ponds was conducted by COE members, MVF staff and other interested volunteers. This year there was a total of 465 geese counted across all sites.

Treasurer’s Report
MVF Board Treasurer Jayaraman Vijayakumar presented the Treasurer’s Report for the year-to-date (YTD) and month ending June 30, 2026.

• Overall results through the end of May continue ahead of budgeted projections, with net income higher than budget by approximately +$1.17M, driven primarily by higher revenues (+$1.01M) and lower operating costs (-$95k).
• Total revenues were $6,530,482, which is +18.2% higher than budget and +11% higher than 2025 actual revenues.
• Total Operating Expenses $4,838,461, which is -3.4% lower than budget and +5.2% higher than the same period last year.
• Capital Contribution Fees were $220,610 vs. $121,550 budgeted for 2026.
• Balance Sheet continues to reflect MVF’s strong financial position, with approximately $14 million, or about 37.2% of total assets investor held in bank accounts.
• Operating fund has approximately $3.4 million in undesignated reserves.
• The delinquency rate is 8% (680 units). This represents a 0.8 percentage-point increase from May 2025’s rate of 7.2% (610 units) and is approximately 0.9 percentage points above the 10-year June average of 7.1%. Performance remains consistent with historical trends for this time of year.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, August 27 in person at the North Creek Community Center. Residents are invited to attend.

Full meeting details, the meeting packet and participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.