BOARD OF DIRECTORS MEETING MINUTES  
November 30, 2005

PRESENT:  
Joseph Sikora - President				Deborah Giampolo - Vice President
Joseph Palladino - Treasurer			Richard Ericson - Secretary     
Warren Johnson - Director				Charles Wiberly - Director
Barry Towers - Director absent

Representing Elite Management - Frank Goeckler

CALL TO ORDER - President Sikora called the meeting to order at 7:05 p.m.

Approval of the minutes:  The reading of the minutes was waived, a copy having been emailed to the members of the Board, corrected and re-mailed.  It was moved and seconded to approve the minutes, as they appeared in the email.

FINANCIAL REPORT
Treasurer Joseph Palladino reported that as of October 31, the Conservancy is solvent, with cash reserves of $120,000 and CDs amounting to $50,000 as the primary assets, and receivables in in the form of late fees.  Liabilities are currently in the range of $11,000, most of which are prepaid owner assessments.  Equity includes the association reserves of $71,000 for the Conservancy, $31,000 for the Village Council, and $14,000 for the Ridge Council.  The Profit & Loss statement for the ten months year-to-date reflects $7,700 under budget for the Conservancy; $5,000 over budget for the Village Council; and $1,500 over budget for the Ridge Council.  Reserves were transferred as budgeted for the month.  Late fees were minimal as were serious past due balances. 

BUDGET REPORT
Each attendee was provided a handout of the proposed 2006 budget (see pages 19-22 of the Manager's report).  President Sikora reviewed the budget for each Council, and the Conservancy. 

Beginning with the Conservancy, he pointed out that recent information suggested that the association should be periodically cleaning sediment from the storm drains on its private roads, an activity that was recommended by the Town environmentalist as another means of preventing longterm damage to the conservancy ponds.  Records reflect that only half the drains have been cleaned, and then only once.  Sikora stated that the cost of this maintenance would add $3.00 to the current conservancy fee, an amount that was not reflected in the handout.  

It was noted that the proposed monthly fees included the increased contributions to reserves recommended by Condominium Consulting Services.  The handout reflected increases and decreases of various amounts over the estimated actual expenditures (for the last two months of the 2005). 

President Sikora noted that the Ridge and Village Council budget would show that they are picking up some of the expense for future common areas such as the ball field and tennis court, and other new amenities. Eventually, he explained, the new Townhome and Duplex Councils will contributre to the conservancy as they come on line.  

Sikora then discussed the last page (page 22) of the summary of cash and reserves, and particularly an recently discovered unallocated and unspent operating fund, explained as an accumulation that was not allocated in any clear way.  These funds came to light as a result of an audit.  He explained the different ways the funds might be allocated, and that the Board recommends the "By Percent of Total Budget Method."  Sikora stated that the Board felt that allocating the money to the various reserves in accordance with the percentages that the money was paid into the association by the Conservancy, and the Ridge and Village Councils, was probably the most equitable division.

Director Johnson made a motion to allocate the $55,216.12 of accumulated but unspent operating funds using the proposed "By Percent of Total Budget" methodology, reflected in the following breakdown:
	Conservancy - 35%			$19,325.64
	Village Council - 57%		$31,473.19
	Ridge Council - 8%			   $4,417.29
						$55,216.12
The motion was seconded and unanimously approved.  

COMMITTEE REPORTS

Standards Committee   Chairman Rick Ericson - 
Committee meeting minutes for November 3 and 17 are appended for the record.  The Chairman noted for the interest of the attendees that an old list of siding stain colors for the Village homes was recently discovered.  Contact with the Benjamin Moore Company determined that the colors were still in inventory and could be reproduced in other media, such as latex and acrylic.  The Moore distributor in Bloomfield sold the Committee samples, which were being painted on cedar siding chips that could be used by unit owners to purchase paint in the original palatte for those that still had wood siding. 

Communications Committee - Chairman Bob Ellis reported that the monthly News was published, and that the Committee still planned to publish the new unit owner directory in January 2006 after election of association officers.

Recreation Committee -  Chairwoman Deb Giampolo reminded attendees of the December 9th Holiday party at the Meeting House.  She announced that the Committee expects to form a sub-committee for the purpose of determining further interest in building a playscape in the development, as well as matching unit the owners' vision of what they want with a cost.  

Finance Committee -  Chairman Joseph Palladino indicated he had nothing further to report except that the finance committee had responded to the Document Committee's request for input to the proposed Walden Woods rules.

Document Revision Committee- Chairman Warren Johnson reported that his Committee is awaiting response from each of the other Committees following their review of the re-written conservancy rules.  

Environmental Committee - Chairwoman Lynne Gillette.  Warren Johnson reported that some progress is being made with Connecticut Windsor Developers (CWD) regarding the protection of the large pond.  They will remove silt on the banks that encroached from the construction site.  However, they have advised that dredging should be  deferred until all sources of sediment deposit, including the industrial sites, have taken appropriate action to eliminate further discharge.  Fuss & O'Neill has advised doing an engineering study of the extent and method of dredging once all the inflows are being treated.  CWD has verbally pledged to split costs for that dredging with the Conservancy if the Conservancy decides to proceed.  CWD has also indicated a willingness to join with the Conservancy in future litigation against Culbro to recover costs, but has not agreed to do the dredging that may be necessary.   

Meeting House Committee -  Chairwoman Bette Harner -  President Sikora reported that the contractor that did the repairs earlier in the year will return to evaluate what has happened, and to make the appropriate repairs, followed by painting.  

Landscape Committee - Chairman Skip Kroll reported that all of the leaves were to have been picked up by the end of the week, but it didn't get done.  He stated he would check with the landscaper, Russo, to see when it was going to be accomplished.  Otherwise, he said, the association had reached the end of its contract with Russo for 2005 landscaping and mowing work.  

Welcoming Committee  -  Chairwoman Jan Terklesen.  New residents were visited in October, and their response to the contact was good.  There are three vacancies occurring in the Committee's ranks which need to be filled, particularly with someone who can represent the Ridge Council. 

PROPERTY MANAGER REPORT -  Frank Geockler reported that new directional signs were installed, with some older signs still in good condition remaining until they need replacement.  Street signs for the Knoll were to be ordered later in the week, with installation expected in four weeks, weather permitting.  

OLD BUSINESS

Developer Liaison  - Warren Johnson   Nothing to report
New Developer News - Warren Johnson  Nothing to report

NEW BUSINESS
Director Johnson offered the following resolutions for approval by the Board:

Be it resolved: that Walden Woods Conservancy, Nc. hereby adopts the "Walden Woods Conservancy Long Range Facility Plan and Reserve Funding Analysis, Revision 2, October 24, 2005, prepared by: Condominium Services, LLC" as the plan to be followed by the Conservancy; that each Conservancy annual budget address all items scheduled in the Plan for that budget year; and that each annual budget published to unit owners explain any variations from the Plan.

The motion to adopt the resolution was seconded and unanimously approved.  

Be it resolved: that Wolden Woods Conservancy, Inc. shall attempt to manage its Long Range Facility Plan and Reserve Funding to avoid or minimize special assessments through adequate annual contributions to reserves and, where necessary, borrowing. 

The motion to adopt the resolution was seconded and unanimously approved. 

HOME OWNERS FORUM

Jennifer Deemer, 139 Pierce Blvd. asked about snow removal standards, indicating her unit driveway was not plowed during the year's first storm.  Manager Goeckler indicated it was a minimal snow storm.  

Ruth Johnson, 22 Ivy Lane asked if the tennis court net had come down.  Manager Goeckler stated that there was a work order for the task, but he wasn't sure that it had been done.  

Connie Sidley, 610 Thoreau Circle, noted that a street light was, and was instructed to call the Town since her street was Town maintained. 

Tina Bobbitt, 145 Morning Glory stated that the fire lane to the south of her unit (connecting to Walden Meadow) needed to be plowed following snow fall, rather than piling the snow in that area.  

Robert Ellis, 144 Morning Glory, asked if it was expected that Culbro (the original developer) would fund some of the future dredging of the large pond. Director Johnson stated that he felt they may be legaly required to do so, but that won't be determined until the entire environmental system is operating.  It will then be up to a future Board to determine the cost of dreging, and wheither it would be worthwhile to go after Culbro.  Counsel for Walden Woods seems to think the association has a case.  

Ellis asked if the consultant-recommended long range planning increases of the reserves had been included in the proposed 2006 budget.  President Sikora answered that they were. 

Skip Kroll, 21 Ivy Lane, referenced an article in the November Walden Woods News that stated unit owners who are selling their units are required to pay a fee of $135 to provide a resale package to a buyer, and asked what generated the requirement. Director Johnson informed that is was state law.  

NEXT:  The associations Annual Meeting will be held on December 21 at 7:30 p.m. and will include ratification of the budget discussed during this evening's meeting.  

ADJOURNED:  There being no addtional old or new business, it was moved and seconded that the meeting be adjorned, and unanimously approved at  8:20  p.m. 
  
Respectfully submitted,
							December 20, 2005	
Richard G. Ericson - Secretary			

Approved:

Joseph Sikora - President