Leewood Homeowners Association

Annual Meeting Minutes

March 9, 2010

Board Members Present:
Janet Rourke – President
Mohammed Umar – Vice President
Rose Weber - Secretary
Maggie Pitotti – Treasurer

Convening: The meeting was called to order at 8:01pm at the Phillips School, 7010 Braddock Road, Annandale, VA 22003. The meeting was preceded by a short period of socializing and light refreshments (7:30-8:00pm).

The meeting was attended by 14 “vote-eligible” homeowners, which allowed for a total of 14 ballots. In addition, 18 valid proxies to vote and 2 "quorum only" proxies were received. Accordingly, there were a total of 32 possible ballots to be cast. There were also several residents and co-owners in attendance. Quorum was established.

Officer Reports:
President: The President welcomed those in attendance and thanked those who have volunteered in various capacities throughout 2009. The President also thanked the volunteers who worked on the planning and execution of the annual meeting. The President also asked for a moment of silence to remember a former board member and homeowner, Bob Chilakamarri, who passed away this past winter. Those in attendance were then reminded/encouraged to hand in their Leewood Directory forms.
Vice President: Nothing to report.
Secretary: Nothing to report.
At-Large: Not present.
Treasurer: A general update on homeowner accounts was provided, although the exact number of accounts in arrears and the total amount of monies due the Association was not available.

Summaries from Committee Chairs:

Architectural Review Committee: The President announced that Tom Harvat will become the ARC Chairperson and reminded everyone that the spring walk-through was just around the corner and encouraged everyone to do a self-inspection soon. Because of recent winter storm damage, everyone was asked to pay special attention to shrubs and plants. She also thanked everyone for working with the ARC to correct problems in 2009, which helped keep our community looking great.

Grounds & Maintenance: Melinda Ford, the G&M chair discussed her plans for G&M in 2010, to include the need for volunteers to do some of the basic grounds maintenance such as fence repair and tree pruning. She announced that the Annual Spring Clean Up would take place on Saturday, 10 April, and encouraged those in attendance to volunteer to come out and help. Melinda also explained the 5-year tree plan and stated the need to update the plan to incorporate work that has been completed and shift the priority of some necessary work to address storm damage throughout Leewood. She also acknowledged that some of the new mailbox locations were in need of shrubs, but that would not likely be accomplished until the storm damage was taken care of.

Report on State of Finances: Leona Taylor, the volunteer Financial Secretary, was not present, but provided finance information that will be posted on the website. Hard copies can also be provided if requested. The President provided the following statement, as a reminder, with regard to finances in general: Assessments are charged to each homeowner and are used to pay both regular operating expenses as well as contributions into the repair and replacement reserve. The repair and replacement reserve is used to maintain the common property of the association (curbs, roads, signs, gutters, etc.). The President then explained that we have exceeded our budget for snow removal, which was no surprise considering the record amounts of snowfall that occurred this winter. Several present complimented the snow removal work that was done. The President also shared that Leewood had approximately 14K in excess that could be moved into the reserve fund this year.

Prior to voting on the tax resolution, the President explained that, under the federal tax rules, LHOA has elected to only pay tax on its investment income. An IRS ruling, Revenue Ruling 70-604, allows homeowner associations to rollover excess assessment income from one year to the following year. The IRS ruling holds that the assessment income that is rolled over is not taxable income to the association. A separate election (resolution) must be made by the owners/members to do this rollover. Our accountants have advised us that by adopting a resolution that permits this rollover we are then assured that we can choose the tax filing method that results in the lowest taxes. The board adopted a standing resolution in February 1996 to make the assessment rollover possible. This resolution was ratified at our 1996 Annual Meeting. To be conservative, the membership has ratified the resolution each year.

Election of Board Members and vote on tax resolution and by-law changes: There were two board positions open for election this year. The candidates were Janet Rourke and Lynda Flynn. After a short break for those in attendance to vote and cast ballots, the following results were announced:

Board elections: The tax resolution was passed unanimously. Janet Rourke was reelected and Lynda Flynn was elected to the Board of Directors.

Open Forum: Snow damage to streets, by specific locations, was discussed. Both the President and the G&M Chair assured everyone that the street damage would be repaired as soon as was feasible after evaluations and bidding were complete. Several homeowners complimented the new locking mailboxes, and spoke again of their pleasure at having our community so well taken care of during this winter's record breaking storms. There were also several positive comments made regarding Leewoods lights, and the question was asked, "Would we be putting in more lights?" The President replied that according to the original plans, there are still several lights to be installed, but that it probably would not happen this year. In closing, the President thanked Rose Weber for her service as the Board Secretary and presented a gift certificate from the Board as a token of appreciation.

The meeting was adjourned at 8:38pm.

Certified for the record:

___________________ _____________
Rose Weber, Secretary Date
LHOA