New member appointed to the MVF Nominating Committee

At its December 12 meeting, the Montgomery Village Foundation (MVF) Board of Directors acted on two items on its brief agenda list:

• Approved Maelyn Cokes to the MVF Nominating Committee.
• Reaffirmed an email vote of November 29, 2024 authorizing EVP Mike Conroy to negotiate and execute a contract with UHC for healthcare benefits for MVF employees for the 2025 plan year.

President’s Remarks

MVF Board President Doniele Ayres thanked all the volunteers on the Board and the committees for their service to the community, saying that the Board and MVF could not do what they are doing without the volunteers, and we have a great community because of the volunteers.

Ayres presented a Community Service Award to Manuela Ekowo who departed the MVF Communications Committee after 4 years of dedicated service, thanking her for her commitment. She also presented a Community Service Award to Olivia Ormsby for her service as Student Representative to the MVF Board of Directors from March through December 2024, as well as during her summer internship assisting in MVF operations and activities.

EVP Report
MVF EVP Mike Conroy echoed Ayres’ sentiments of gratitude for all Village volunteers, including the MVF Board and committees, as well as local association boards for giving so much of their time on behalf of the community.

He also thanked Board member Brandon Coffee-Borden for attending the Planning Board’s November Public Hearing on M-83 and adding MVF’s position for removing M-83 from the Master Plan of Highways and Transit Ways to the formal record. Conroy said the Planning Board is adding a second Public Meeting scheduled for 6:30 p.m. on Thursday, Jan. 9, 2025, at the UpCounty Regional Services Center, 12900 Middlebrook Road, Germantown, which he planned on attending. He urged Board members and residents to attend as well.

Conroy reported that Montgomery County Department of Transportation is in the process of installing a covered bus shelter where there was previously only a bench at the RideOn stop at the intersection of Montgomery Village Avenue and Apply Ridge Road. Work is underway at this location and is expected to be completed quickly, weather permitting.

Lastly, he reported that the Architectural Standards staff had presented a revised version of the Landscaping Criteria to the Architectural Review Board (ARB) for discussion and feedback at its December 4 meeting. Based on previous feedback from residents and the Board, the document was revised to be a guideline and no longer criteria, and include the installations that have caused the most impact on neighboring properties or common elements. He said staff was incorporating the most recent feedback from the December 4 meeting and woudl share a revised draft to the ARB, and eventually, the MVF Board later in 2025.

Treasurer’s Report

MVF Treasurer Tom Wills presented the Treasurer’s Report for the year-to-date (YTD) and month ending October 31, 2024. He reported that overall, MVF funds were ahead of budget projections by approximately $1.4 million, driven by higher Revenues in Investments ($620,000), Grant Revenues ($452,000), Camps and Classes ($110,000) and Pool Membership/Fees ($69,000). Personnel and Operating costs were favorable to the budget by $109,000 and $86,000, respectively. He noted total Revenues were $9,673,298 and favorable to the budget, and Operating Expenses were $7,717,870 through October and also favorable to the budget.

Wills said 382 units had been sold in Bloom Village and 28 units sold in Overlook, adding to favorable Capital Contribution Fees through the end of the month.

He said the Balance Sheet continues to reflect MVF’s strong financial position having $13.4 million of its $30.0 million held in Cash and Investments, which is more than 6 times more current assets than total liabilities. MVF continues to hold about $3.2 million in Undesignated Reserves. Assessment Receivables have seen an increase from last year; the Delinquency Rate for October was reported at 19.4% (1,641 units), slightly above the same period last year at 18.8% (1,595 units).

Next Meeting

The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Jan. 23, 2025 via Zoom. Residents are invited to attend; full meeting details, the meeting packet and/or participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.