New officers elected at March Board meeting

At the Montgomery Village Foundation (MVF) Board of Directors meeting held on March 21, the Board elected Doniele Ayres as President and Susan Prince as Vice President for 2024–2025. The regular business meeting preceded the Annual Meeting, which highlighted service in the community.

Both Ayres and Prince will serve on the Executive Committee. The third/voting member elected to serve on the Executive Committee was Past President Scott Dyer. Board member Dan Anderson was elected to serve as the Alternate.

Following the election results, Susan Prince, Stuart Flatow and Pam Bort were installed as Directors and will serve from 2024 through 2027, with Flatow replacing Juan-Manuel Carrillo. Watkins Mill High School junior Olivia Ormsby was also installed to serve as the 2024 Student Representative on the MVF Board of Directors.

Other Agenda Items

The Board accepted the 2023 Financial Statement audit. In presenting the audit from Lydon Fetterolf Corydon, MVF CFO Daniel Salazar noted that 2023 was another great year. MVF exceeded last year’s net income by $3.47 million, compared to $448,178 in 2022. He said it was a very clean audit, there were no adjustments proposed by the auditors, and MVF encountered no issues during testing; MVF received an unmodified opinion and a favorable review of internal control procedures. He said the Audit Committee reviewed the 2023 Audited Statements and recommended acceptance by the MVF Board.

The Board appointed the 2024 Scholarship Committee and Chair. MVF EVP Mike Conroy noted that the committee makeup had not changed since the prior year. This committee decides which Village youth receive scholarships based on the donations contributed by the community.

MVF Recreation and Parks Director Duncan Mullis reported that at its October 2023 meeting, the MVF Board of Directors authorized MVF to proceed with gaining pricing to update the two basketball courts at William Hurley Park. He said that the basketball court nearest to the homes will remain a basketball court, but will be upgraded to reflect the other renovated basketball courts at Whetstone Community Center, Martin P. Roy Park and Apple Ridge Recreation Area. The basketball court next to the pavilion will be converted into a multi-sport court using the galvanized steel system produced by Kompan, Inc.

The Board authorized EVP Conroy to award the contract for the William Hurley Park basketball court renovation to Kompan, Inc. at a cost of $69,594.30 from MVF Reserves, and the multi-sport court conversion from CCF at a cost of $187,057.25, with an additional 10% for unforeseen expenses. Kompan will start the project at the end of the 2024 pool season to limit the impact on pool patrons. The project is estimated to take 1 to 2 months.

Mullis also reported that the poles, backboards and rims of the basketball systems at William Hurley Park are outdated and need replacement, in conjunction with the multi-sport court conversion. The Board approved purchasing the Bison Basketball System from Playground Specialists, Inc. for $12,414.24, plus an additional 10% for any unforeseen expenses.

The Board approved the Village-wide EV Charging device criteria. MVF Architectural Standards Director Dee Wirth noted that the criteria, originally presented in December 2023, were modified to include photos and state requirement of prior approval for the units requested on common space. The changes were unanimously supported by the Architectural Review Board (ARB).

President’s Remarks

Citing that there was a full agenda and that he would have comments during the Annual Meeting, Board President Scott Dyer thanked everyone present in their various capacities for their dedication to the Village, as resident, employee, and public servant.

EVP Report

EVP Conroy noted the pilot parking program that the Board initiated two years prior at the retreat and that MVF put in place in November 2023 had not seen any traction. He said MVF steadily promoted the program for five months, but with only four residents on the waiting list, it was apparent there is no interest in this program. Accordingly, MVF has suspended this program at the moment.

On the development front, Conroy reminded the Board that Senator Nancy King was able to secure a $500,000 grant for work at Centerway Local Park—a county park next to Whetstone Elementary School—and the renovations were underway to the playground and shade structure.

Regarding the Lakeforest Mall site development, he noted the owner, WMS, had recently submitted its Schematic Development Plan to the City of Gaithersburg. The mayor and city council will review and public comment will come when a meeting with the Planning Department is scheduled.

Conroy added that there had been a movement for adding a county community center on the site that would service the upcounty region, primarily Gaithersburg and Montgomery Village residents. He said the county had been working with MVF, the city, and the developer. While it is uncertain if the former mall property is the correct location for a facility, $50,000 was added to the county facility planning budget for a feasibility study.

Conroy closed by saying MVF executed a contract earlier in the week with MLEDTech to get the solar panel project underway. In terms of the anticipated project timeline, design and engineering would take place through May 2024; MVF anticipated permits in July; and installation to take place between August and October.

Treasurer’s Report

CFO Salazar presented the Treasurer’s Report and unaudited estimates for the month ending February 29, 2024. Salazar reported that overall, all MVF funds were ahead of budget projections by approximately $318,000, driven by higher Revenues in Investment Income ($161,000), Pool Membership/Fees ($33,000), and Camps and Classes ($64,000). Personnel and Operating costs were favorable to the budget by $29,000 and $32,000, respectively. He noted total Revenue was $1.9 million and Operating Expenses were $1.2 million through February; both were favorable to the budget.

Salazar said 324 units had been sold in Bloom Village and 14 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 $12.9 million held in Cash and Investments. MVF continues to hold more than $3.6 million in Undesignated Reserves. Assessment Receivables saw a slight decrease, and the Delinquency Rate for February was reported at 12.3% (1,044 units), which is lower than the 10-year average. Last year’s delinquency rate was slightly lower at 11.9% (1,005 units).

Next Meeting

The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, April 25, 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.