Board Watch
Beyond the Minutes - a summary of MVF Board actions that affect the direction of the community
Board Watch March 20, 2008
The March 20th Audit Committee meeting resulted in the recommendation to accept the auditors report. The meeting and the report is discussed in Money Watch.
Board Watch March 17, 2008
At a special Meeting on March 17, 2008 the MVF Board of Directors approved a $75,000 Contribution to Reserves for 2007. This amount may be somewhat less when the full extent of the bad debt expense is known. No information was provided as to how the CTR will be apportioned to the four funds affected.
Other resolutions passed clarified the effective dates of various finance policies previously approved.
Montgomery Village Compass expects full clarification of these matters at the Audit Committee Meeting on Thursday March 20.
Board Watch February 28, 2008
At its regular meeting on February 28, 2008 the MVF Board of Directors approved changes to its Procedure for Holding Meetings in Closed Session. Language was included that requires the publication of the Closed session agenda in a timely manner prior to the meeting. This change is not required by Maryland HOA law, but goes beyond what is required by that law.
This change is welcomed by Montgomery Village Compass as the right change in the right direction at the right time.
That is not to say that the board could not go further. Nowhere in the procedure does it state that “every effort will be made to avoid closed session meetings”. Let’s hope that will come with the next revision.