HomeMy WebLinkAbout08-17-2022 - Minutes241610 MINUTES OF MEETING OF THE BOARD OF DIRECTORS OF FOREST HILLS VILLAGE, INC.,
HELD AUGUST 17, 2022 Pursuant to written notice to each of the directors, the monthly meeting of the Board of Directors of Forest Hills Village, Inc., was held at 7:30 a.m. on August 17, 2022 at Little Castle Restaurant. The following directors were present: Brad Arterburn, Paul King, Bruce
Brockenborough, and Shirley Walker. Also present were Lori Knight, James Burgett, and Heath Caldwell, Peter Bowles, David Bailey, CPA with Williams, Williams, and Lentz, and David Denton with Denton Law Firm. THE FOLLOWING BUSINESS WAS TRANSACTED:
ITEM I: Peter Bowles sought the Board’s permission to hold Forest Hills Days. He explained a family/picnic type event to be held and being promoted by friends and “alumni” of the Forest Hills Village community. He also asked that Forest Hills consider how it might
support this “first time” event which is planned for September. After engaging in discussion, the
directors voiced unanimous support for the affair. Chair Arterburn suggested that after this meeting Ms. Knight will coordinate future matters with Mr. Bowles and prepare a permit. Mr. Brockenborough will assist and inform the city. Mr. Burgett will inform the insurance agent for Forest Hills Village. Mr. Bowles left the meeting at this point.
ITEM II: Upon motion made by Mr. King, seconded by Ms. Walker, and unanimously carried, the following motion was adopted: MOVED, that a formal reading of the minutes of the previous
meeting held on July 20, 2022, be dispensed with and those
minutes stand approved as written. ITEM III: Concluding his recent audit of Forest Hills Village financial affairs, Mr. Bailey was in attendance to answer questions. He reported no exceptions. His audit is
unqualified and the financial statements were found to be properly prepared. A clean report in
all respects. Mr. Bailey called attention to the minutes of June 23, 2021. In particular he noted board conversation about investing in “government bonds” with LPL Financial. An investment was
later transacted. Today, the investment is in a high-grade portfolio but not in government bonds.
In other words, the funds are invested as Ms. Korte proposed at the May 19, 2021 meeting and consistent with the board’s formal approval, by motion adopted on June 23, 2021. The inconsistency was then given a full discussion. Thereafter, the directors expressed appreciation to Mr. Bailey for noting the variation. After discussion, it was decided that no corrective action
was necessary. Mr. Bailey left the meeting at this point.
ITEM IV: The executive report consisted of a review of the past month and year-to-date financial activities.
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ITEM V: The Staff Report was then presented by Ms. Knight and included the
following:
a. Forest Hills received 10 applications for rental units in July 2022, with 7 being approved, 1 being rejected, and 2 having no response.
b. Forest Hills has 120 active applicants on the waiting list in July 2022. The
breakdown of applicants is as follows: apartments-21, two-bedroom small-42, two-bedroom large-3, 3-bedroom small-25, 3-bedroom large-29. c. The occupancy rate for July 2022 was 97.65%.
ITEM VI: Maintenance performed in July consisted of 3 houses and 1 apartment. Also, installs and/or repairs for 1 water heater, 1 set of kitchen cabinets, and 1 vinyl plank floor. 166 maintenance calls were completed.
ITEM VII: There being no further business to come before the Board, the meeting
adjourned. __________________________________________
President
ATTEST:
__________________________________________
Secretary