Reflections on the River Condominium Association, Inc.

Board of Directors- Reflections Clubhouse

January 20, 2009 – 5:00 p.m.

The president Tom Cooke called the meeting to order at 5:00 P.M.

The notice of the meeting was duly posted.

A quorum of the board was present as follows:

Tom Cooke, Larry Stetler, Maureen Minard-Schwab, Helen Laitinen, Jim Williams, Phyllis Keith and Kevin Donovan were present.

Also present was Lynn M. Heberling, C.A.M. from A.R. Choice Management, Inc.

Approval of Minutes

Maureen Minard-Schwab moved to approve the minutes of the December 9, 2008 special assessment meeting. Seconded by Larry Stetler. All were in favor.

Helen Laitinen moved to approve the minutes of the December 9, 2008 Members and Board of Directors meetings. Seconded by Phyllis Keith. All were in favor.

Treasurers Report

Current Financial Status - Larry Stetler reported that a general journal entry was made by the CPA to adjust the insurance numbers. All buildings are showing a deficit. The deficits are nothing to alarmed about.

Delinquencies:

Building II - Sick property has foreclosed and we are guardedly optimistic that the past due assessments will still be collected.

Building V - Lien on the property in building V has been removed due to payment in full.

Lien in building VI - Unit is currently rented - the rental will not be renewed unless the current lien is satisfied.

Bldg IV - There has been movement on the account and a potential buyer for the property. They are asking that the board reduce the lien amount by $5,000 in order to close the sale. Bldg IV has agreed to this and the board is being asked to vote to reduce the assessment.

Maureen Minard-Schwab moved to accept the motion to reduce the deficit for this unit due to a potential closing. Seconded by Helen Laitinen. All were in favor.

Larry spoke about the audit situation last year and the associations’ displeasure with the preparation of the audit. Three auditing firms were contacted including the current CPA to bid on the preparation of our financial statements.

Maureen Minard-Schwab moved to reward the contract for the preparation of the 2008-year end financial statements to the Harris, Cotherman, Jones, Price & Associates. The contract term will be for three years in accordance with the price schedule attached to the bid. Seconded by Jim Williams. All were in favor

Phyllis Keith moved to accept the treasurer’s report. Seconded by Tom Cooke. All were in favor.

Presidents Report

Supplemental Insurance Claim - Tom Cooke spoke with Tom Tierney the association litigation attorney on the Jarvis and Insurance Supplemental claim issues. Mr. Tierney received a call from Jarvis asking if he was able to accept legal filings on behalf of the association. Mr. Tierney informed them that the association was dealing with Lloyds of London. Mr. Tierney had received a settlement amount of approx. $200,000 from Lloyds, this was denied as the amount was not satisfactory. Should a higher amount not be offered, the attorney has been instructed to file for civil remedy. This invokes a process of involving a negotiator to review both sides of the claim. They will make the conclusion on the claim.

Jarvis Final Billing - A review of the final settlement with Jarvis will take place after the supplement claim has been settled.

General Issues: - Our southwest neighbors cut the mangroves on the Reflections property to four feet. This is a violation, and was brought to our attention by the DEP. The DEP was on site to review the violation. They met with Tom Cooke and Helen Laitinen. They have advised us to post private property signs in this area. The area will be surveyed.

The DEP was approached about the addition of more Kayak storage; they are willing to work with the community. The dock committee met Sunday and they walked the area and laid out what need to be done to add additional storage. The area is being survey by David Jones to find the high water line. This will be necessary for the DEP to make their decisions.

Tom Cooke made a plea to the association to please do not feed the wildlife. The feeding of the birds and other wildlife is a violation of the Rules and Regulations and must stop immediately.

Shutter Mandate - more discussion was held and there will be more information given to all owners. Maureen and Helen will meet with the buildings to explain the amendment.

Tom Cooke moved to proceed with the Hurricane Shutter Mandate Amendment. Seconded by Phyllis Keith. All were in favor.

Building Representatives: All requests should be submitted through ONE designated building representative. There may be an alternate named to attend in the representatives’ absence.

Committee Reports:

Landscape - No Report

Architectural - No Report

Dock - No Report

Being no more business to come before the board:

Phyllis Keith moved to adjourn the meeting at 7:00 p.m. Larry Stetler seconded. All were in favor. The meeting was adjourned.