Officers elected at March Board of Directors meeting

At the Montgomery Village Foundation (MVF) Board of Directors meeting held on March 27, the Board re-elected Doniele Ayres as President and Susan Prince as Vice President for 2025–2026. The regular business meeting preceded the Annual Meeting, which highlighted service in the community.

Both Ayres and Prince will continue to serve on the Executive Committee. Scott Dyer and Daniel Anderson were also re-elected as the third/voting member and alternate for the committee, respectively.

Following the 2025 MVF Board of Directors election results, Scott Dyer, Dick Rabil and Doniele Ayres were installed as Directors and will serve from 2025 through 2028. Watkins Mill High School junior Hillary Juarez Mendez was also installed to serve as the 2025 Student Representative on the MVF Board of Directors.

Other Agenda Items
The Board accepted the 2024 Financial Statement audit. In presenting the audit from Lydon Fetterolf Corydon, MVF CFO Daniel Salazar noted that for the year ended December 31, 2024, MVF’s change in net assets (e.g., net income) was an increase of $2,228,064 compared to an increase in 2023 of $3,470,855. The Operating Fund, for which the majority of MVF business activity takes place, finished the year with a decrease of $41,972 compared to last year’s increase of $555,663 in 2023. Net income for the Operating Fund for 2024 exceeded budget expectations by $272,028 and by $777,348 in 2023.

He said it was a 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 2024 Audited Statements and recommended acceptance by the MVF Board.

The Board reappointed Claire Conlon, David Cline, and Sharon Levine to the Scholarship Committee, with Conlon serving again as Chair. This committee decides which Village youth receive educational scholarships based on the donations contributed by the community. In other committee-related items, Marcela Aguilar and Robert St. John were appointed to the Communications Committee.

The contract for pool chemicals for 2025 was awarded to Amato Industries, Inc., not to exceed $65,000. Amato has been the trusted supplier of chemicals for MVF pools for more than 15 years, and remains the only supplier in the region capable of delivering all required materials in the necessary quantities.

Recreation and Parks Director Duncan Mullis reported that the exterior of the Whetstone Community Center and the interior of the Bathhouse, as well as the pool pump house and swim team storage building need repainting. The Board awarded the bid for painting services to Five Star Painting, Inc. for a total not to exceed $24,932.

EVP Report
EVP Mike Conroy gave a brief update on the road work on Montgomery Village Avenue, noting that both Montgomery County Department of Transportation (MCDOT) and WSSC had concurrent projects. He said WSSC is continuing work on the water main replacement, with night work commencing over the Lake Whetstone Dam. This involves lane closures and shifting traffic to accommodate the work. MCDOT is repairing curbs and upgrading several bus stops along Montgomery Village Avenue from MidCounty Highway to Wightman Road. Equipment will be staged nearby to the work (some in medians) and temporary lane closures will be established overnight to facilitate adequate curing times.

Additionally, MCDOT will also present their Montgomery Village Avenue Pedestrian Safety Intersection Improvement Plan before the Thursday, April 24 MVF Board meeting. This plan proposes safety improvements at several intersections along Montgomery Village Avenue from MidCounty Highway to Wightman Road, including: new continental crossings/crosswalk markings; upgrading ADA access; median extensions to allow for safer crossing; addition of Pedestrian Hybrid Beacons at key intersections; and lane restriping to conform to the Montgomery County Complete Streets Design Guide.

Conroy reported that Treasurer Tom Wills resigned from his position on the Board, and staff will begin to advertise for a new volunteer Treasurer to fill the position. In the interim, CFO Salazar will continue to provide the monthly Treasurer’s Report to the board.

Conroy concluded by providing an update on the solar panel project. He said MVF has most of the permits in hand, and the contractor is expected to begin installation on Saturday, April 5, weather permitting. The contractor will work in a systematic order to reduce interruption to programs and activities, and will begin with the Lawn Theater, followed by Whetstone Community Center, Stedwick Community Center, North Creek Community Center, the MVF Office, and Peggy Mark Pool. After the contractor completes the interconnection agreements with Pepco, and equipment is installed, MVF should begin to see significant energy savings.

Treasurer’s Report
MVF CFO Salazar presented the Treasurer’s Report and unaudited estimates for the month ending February 28, 2025. Salazar reported that overall, all MVF funds were ahead of budget projections by approximately $408,000, driven by higher Revenues from Investment Income ($183,000, a gain of 2.3% this month) and Miscellaneous Revenues ($35,000 due to a Pepco rebate), as well as lower Personnel and Operating Costs by about $20,000 and $87,000, respectively. He noted total Revenue was $2.04 million and Operating Expenses were $1.56 million through February; both were favorable to the budget.

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 more than $3.4 million in Undesignated Reserves. Assessment Receivables saw an increase, and the Delinquency Rate for February was reported at 13.9% (1,182 units), which is 1.5% higher than the 10-year average. Last year’s delinquency rate was lower at 12.3% (1,044 units).

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, April 24, 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.