February 21, 2012 Board of Directors Meeting

The Christmas Mountain Campground Association

Minutes of the Board of Directors Meeting

February 21, 2012

Christmas Mountain Village – Maintenance Building

Call to Order / Roll Call

Association President Thurow convened the meeting to order at 1:00 p.m. (CDT).  The following persons were in attendance:  Dennis Thurow, Director/President; Vonei White, Director/Vice-President; Sheri Lundstrom, Director; Constance Dodd, Director.  Also in attendance were Dale Dobis, Regional Director, Bluegreen Resorts Management, Inc.; Kim Fries, Association Governance, Bluegreen Resorts Management, Inc.; Chris Santuae, General Manager; Kimberly Albert, Rooms Division Manager; Darren Graves, Director of Maintenance.  Approximately 4 owners were also present.



Meeting Notice and Quorum

The meeting notice was sent to the Board of Directors in accordance with the Bylaws of the Association and state statutes.  Director Dennis Thurow stated that the quorum was met with four of four Board members present.  One position remained open with the departure of Tammy Bateman.  It was noted that the position would be filled at the Annual Ownership Meeting.

Approval of Prior Minutes

The minutes for the September 12, 2012 Special Board of Directors Meeting, October 19, 2012 Board of Directors Meeting, and December 12, 2012 Special Board of Directors Meeting were presented.  Discussion followed.

Motion:  Director Vonei White made a motion to approve the minutes of the September 12, 2012 Special Board of Directors Meeting, October 19, 2012 Board of Directors Meeting, and December 12, 2012 Special Board of Directors Meeting as presented.  Director Sheri Lundstrom seconded the motion and the motion was unanimously approved.

Unfinished Business

President Thurow provided an update on the PRV zoning issues. A letter was presented from Sauk Country requiring a survey on the PRV sites.  A proposal was present for the project for $15,400.  Additionally, a letter dated December 28, 2012 from the Delton Fire Department was reviewed stating concerns of the aftermarket additions and fire hydrant locations.  Discussions followed.  It was determined that President Thurow and Dale Dobis would consult with council and report back to the board.

Property Update

Kimberly Albert presented the property update. Staffing personnel update and changes were discussed along with occupancy and Medallia score reporting.  The recent ownership newsletter was discussed. 

Darren Graves provided an update on the renovation project.  Year one, phase one projects had been completed which included 15 (2) bed (1) bath and 8 (2) bed/ (2) bath.  Year one, phase two renovation was underway which included 12 (2) bed (1) bath and 2 (2) bed (2) bath.  The completion date was April 21th and May 11th respectably.  Discussion followed on specific items.  It was determined that Darren Graves would follow up on each item and report back to the board.  Three change orders were presented to the board for approval which including plumbing, electrical and fireplace work. 

Christmas Mountain Village Campground Association

Board of Directors Budget Meeting - February 21, 2013

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Motion:  Director Sheri Lundstrom made a motion approve the change orders as presented.  Director Connie Dodd seconded the motion.  Discussion was held.  A vote was taken and the motion passed unanimously. 

Financial Business

Dale Dobis presented the financial report for January 2013.  After a review of the balance sheet, Dale Dobis requested that monies be moved throughout the reserve accounts to correct accounts with negative balances. 

Motion:  Director Sheri Lundstrom made a motion reallocate $330,000 from account 3015 Interior Reserves to account 3010 Vehicle Reserve.  Director Connie Dodd seconded the motion.  Discussion was held.  A vote was taken and the motion passed unanimously. 

Overall the association had an $80,000 positive variance to budget.  It was noted that all bad debt had been realized on the statement although budgeted as a monthly allocation.  At year end the account would be trued up.  Discussions followed on several line items. 

Reserve projection showed a balance at the end of January of $568,334 with projected expenses of $418.  It was noted this balance did not reflect the special assessment reserve balance.  Discussions followed.  An update on projects was provided.

Kim Fries presented the accounts receivable report for January 31, 2013.  The report reflected the AR balance with and without the special assessment.  A comparison of AR from January 2012 was shown verse January 31, 2013 less the special assessment delinquency.  Overall the delinquency was 15.56% excluding the special assessment.  Dale Dobis stated a special assessment collection report would be presented at the next meeting.  Kim Fries spoke on the inventory cleanup which was almost complete.  Discussions followed on the concept of an aggressive deed in lieu program to clean up the next stage of the delinquent inventory.

New Business

Kim Fries presented a banking resolution (attached Exhibit A) to change banking to Fifth Third Bank.  Discussions followed.

Motion:  Director Sheri Lundstrom made a motion to approve the banking resolution with Fifth Third Bank as presented and to authorize Sheri Lundstrom to be the board representative to provide needed information to open the accounts, which was seconded by Director Constance Dodd and unanimously.

Dale Dobis presented the proposed 2013-2014 operations budget.  Overall the budget represented a 1% increase in fees including a per diem increase of $10.  A change in the budget format and reallocation of several categories including activities was discussed. 

Motion:  Director Constance Dodd made a motion to approve the 2013-2014 operations budget as present, which was seconded by Director Sheri Lundstrom and unanimously approved.

Christmas Mountain Village Campground Association

Board of Directors Budget Meeting - February 21, 2013

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A discussion was held on the Park Model units regarding a recent owner letter requesting an update on the renovation/replacement of the models.  Chris Santuae will respond to the owner and the topic was tabled to the next meeting.

The next meeting was the Annual Ownership meeting to be held on April 6, 2013 at 9:00am. 

Adjournment

Motion:  Director Sheri Lundstrom made a motion to adjourn the meeting, which was seconded by Director Constance Dodd and unanimously approved at 3:07 p.m. (CDT).

Acknowledged by:

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Kim Fries on behalf of Dennis Thurow