Voluntary treasurer appointed to the MVF Board of Directors

Voluntary treasurer appointed to the MVF Board of Directors

At its June 27 meeting, the Montgomery Village Foundation (MVF) Board of Directors appointed Tom Wills of North Village as the new volunteer Board Treasurer. Wills has extensive experience in financial management, accounting and leadership roles across various organizations and has also served as the Treasurer for North Village Homes Corporation for several years. The Board determined that Wills possesses both the experience and the enthusiasm needed to serve in this important volunteer role.

Other Agenda Items

Based on discussion from the MVF Board Retreat earlier in the month, the updated 2024–2025 Corporate Calendar was approved. This change will move the Thursday, Aug. 22 meeting to in-person at North Creek Community Center, 20125 Arrowhead Road, beginning at 7:30 p.m. 

The Board awarded the bid for the LED athletic field lighting and parking lot lighting project at South Valley Park, 19003 Watkins Mill Road, to MledTech, LLC at a cost of $136,610.61 and authorized an additional 10% for unforeseen expenses. The new fixtures will greatly improve the lighting and visibility on the field and in the parking lot, adding to the overall user experience at the facility.

President’s Remarks

President Doniele Ayres presented two certificates of recognition during her remarks. Steve Wampler was recognized for his 12-year leadership of the Montgomery Village Community Band, providing countless hours of musical entertainment for residents and visitors and valuable musical guidance to resident musicians. Lawrence “Larry” Beck was honored for his 26 years of participation and leadership of the Park Place II Condominium Association and Christopher Court Land Association, serving as long-term President for both organizations, and improving the quality of life for Village residents.

EVP Report

EVP Mike Conroy recognized MVF Aquatics Manager Lauren Hydorn for receiving a Peer Award for her exemplary work, ethical problem-solving and staffing pivots to balance the skills of pool staff to meet the challenges of each unique pool design, and implementing new roles has allowed her to maximize MVF resources and recruit additional staff so that residents can enjoy the features of all MVF pools.

Conroy also reported that the Montgomery County Police Department (MCPD) is expanding the Drone as First Responder program to Montgomery Village, Gaithersburg and parts of Germantown. MCPD is looking to finalize a location for the drone in UpCounty and anticipates a mid-July launch date.

Treasurer’s Report

Conroy presented the Treasurer’s Report for the year-to-date and month ending May 31, 2024. Overall, all MVF funds were ahead of budget projections by approximately $710,000, driven by higher Revenues in Investments ($246,000) Grant Revenues ($192,000), Camps and Classes ($156,000) and Pool Membership/Fees ($50,000). Personnel and Operating costs were favorable to the budget by $76,000 and $11,000, respectively.

He said 339 units had been sold in Bloom Village and 24 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 $13.3 million of its $29.7 million (44.7%) held in Cash and Investments. MVF continues to hold more than $3.8 million in Undesignated Reserves. Assessment Receivables saw an overall increase from last year, and the Delinquency Rate for May was reported at 9.8% (830 units).  

Next Meeting

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