MVF Office equipment upgrades approved at May Board meeting

At the May 26 Montgomery Village Foundation (MVF) Board of Directors meeting, two office equipment upgrades were approved from the Reserve budget, as outlined in the 2022 Budget. As is the case each year, a lot of computers are replaced after 5 years of use. This year, nine computers are being replaced; the Board approved a purchase of the computers from MVF’s IT Contractor, the Dresner Group, for $16,851.38.

Additionally, due for replacement in 2022 is the current MVF phone system. Due to timing issues with vendors and the termination date of the current phone contract, an e-mail vote was taken in advance of the meeting, and then reaffirmed. The new system will offer some efficiencies for staff, including a software package to aid in traffic flow and call routing. The bid was awarded to ACC Telecom in the amount of $18,262.46 to replace the system, and enter into a 60-month service agreement for phone service.

The only other item on the agenda at the May meeting was the appointment of Jane Wilder to the Committee on the Environment. Wilder, an environmental advocate, was previously on the committee and sought reappointment to continue service to the community after a 10-year hiatus.

President’s Remarks
Board President Scott Dyer took a moment to reflect on the recent school tragedy in Texas, and thanked teachers and school staff that live in Montgomery Village or work in Village schools, giving praise for the job they do teaching our youth and keeping them safe each day.

Dyer also noted that he and Executive Vice President (EVP) Dave Humpton recently met with the 6th District Police Commander, and this incident emphasized the need to continue to work together for community safety. He was hopeful to have a community briefing with the police later this year.

EVP Report
Assistant EVP Mike Conroy provided a brief report in Mr. Humpton’s absence. Conroy said staff had begun following up on a few key items from the MVF Board Retreat, held on May 7, including: scheduling a President’s Council meeting for 7 p.m. on Tuesday, June 7, via Zoom; continuing MVF Board meetings virtually, with the exception of 1 or 2 each year; the potential for a new Recreation event surrounding Montgomery Village history; preparing a community survey to aid in the update of the Recreation and Parks Strategic Plan; and engaging MCDOT regarding pedestrian safety issues on Apple Ridge Road and Montgomery Village Avenue/Clubhouse Road.

Conroy reminded the Board of the North Creek Pool Ribbon Cutting Ceremony scheduled for 6 p.m. on Tuesday, June 16, as well as the summer concert series at South Valley Park on various Saturday evenings over the next few months.

He also noted that the bid process for the Watkins Mill Outdoor Fitness Area is now open, with interest from contractors, and a few bids returned to staff. Conroy said bids are due mid-June, with the goal of bringing a recommendation to the June 23 Board meeting.

Treasurer’s Report
CFO Daniel Salazar presented the Treasurer’s Report for the year-to-date (YTD) and the month ending April 30, 2022. Salazar reported that overall, all MVF funds were behind budget projections, predominantly from loss of Investment Income, which was down $911,000. Net Income was reported unfavorable to the budget by $676,000, but offset by Capital Contribution Fees (CCF) which were favorable to the budget by $98,000, and Pool Membership Fees, which were up $19,000. Additionally, Salazar said Personnel costs were lower than expected by $41,000.

Total Revenue through April was reported at $2.2 million, which is 25.7% lower than the budget. Operating Expenses were reported at $2.4 million, which is slightly favorable to the budget. Salazar noted that if the Reserve Fund (Investments) is removed from the picture (which only comes in to play when large projects are being undertaken), Income and Expenses are both in line with the budget.

He said the Balance Sheet continues to reflect MVF’s strong financial position with over $10.7 million of its assets held in Cash and Investments. Assessment Receivables reported an overall decrease of $408,000, which shows that the collection process is working and payments are being made on time.

The Delinquency Rate for April was reported at 16.4%, which is lower than both the 5-year average and last year at this time.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, June 23, 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.