On Monday April 12, 1999 a meeting of the homeowners was held at the Summit Baptist Church. 

Alison Richardson of Community Club Management opened the meeting and conducted the following agenda:

Reviewed the financial statement from 1998.  At the end of fiscal 1998 the homeowners association is in a deficit with an end balance of $162.26 with a payment due to Hawks Management of $1903.98 for a note payable that they provided to subsidies the association. 

Alice then proceeded to tell us that earlier that day she had paid Hawks management for the note due, as they had requested.  She said that according to the bylaws she was obligated to reimburse them.  As early as that morning she had asked Hawks management if they were still insistent on payment for the note, which they were. 

A number of questions were raised from the floor as to why they had paid and she indicated that since Hawks was her boss that they had to do as asked.  She asked that additional questions be held until the Operating Budget was reviewed as she had some recommendations that would assist with our deficit. 

Reviewed operating budget.  Based on the operating budget that was provided the homeowners association would require $10, 250.00.  Currently we are at a deficit due to the repaid note, approximately 10 homes that have not paid their dues.  Alice provided several options on how the budget could be cut which included the management fee. 
Which lead into her telling us that she Community Club Management had resigned from managing our association. This would then save the association $3,600.00 per year. 

A number of questions arose including questioning the coincidence of paying off the note the same day as turning over the association to the homeowners and then resigning as the management company.  The meeting became somewhat volatile.  Alice indicated that CCMA  acted in the best interest of her boss, Hawks Management and expressed that she did work the best she could on behalf of the homeowners. 

We then moved onto the election of board of directors.  Alice asked for one more board member from the floor to volunteer however she was requested, from the floor, to have the other two volunteers introduce themselves.  She introduced Doug Hewitt and Debbie Nicholson. Each gave a brief back ground as follows: 

Doug has lived in the subdivision for 14 months.  Professional background is hotel sales and marketing.  He was the president of his homeowners association in his last subdivision.  His interest in participating on board was to see that we did not take on a deficit from transition to homeowners and wanted to ensure that the covenants were followed to maintain property value of this Ascot Glen. 

Debbie has lived in subdivision 3 months.  Professional background is property management and real estate sales.  Her interest is also to assure that property value is maintained and is willing to provide her experience with management companies and her connections. 

A volunteer was again requested from the floor and Barry Henley raised his hand.  Barry has lived here for 13 months.  His professional background is a computer hardware specialist.  He is interested in also maintaining a quality neighborhood. 

Alice asked for the floor to close nominations and took a balloted vote. 

Meeting was adjourned. 

Board met briefly, exchanged information and set a meeting for Thursday evening.