AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Board of Residential Trustees Meeting

Monday, April 4, 2016

7:00 p.m.

Dr. David Parker called the meeting, convened in the Community Room, to order at 7:00 p.m.

Residential Trustees present and participating: Dr. David Parker, Sandra Lee Sterns, Lance Williams, and Melyn Campbell.

The Commercial Trustees were excused.

Approval of Previous Minutes

The Minutes of the March 9, 2016 Residential Board Meeting, upon motion duly made and seconded were approved.

Finance Committee

The Board reviewed the propopsed annual budget for the fiscal year 2016-2017 which showed an increase in assessment in the amount of $44,455 necessary to cover all of the anticipated and necessary expenses for the year. This represents a 2.6% increase in the assessment.

Upon motion duly made and seconded, the Residential Trustees unanimously approved the proposed operating budget for fiscal year 2016-17. Subsequently on April 29, the operating budget was further approved and ratified at a special meeting with Commercial Trustees Heather Bowen and Douglas White present and voting.

Rules Committee Report

Upon motion duly made and seconded, the Board approved the proposed changes to the Rules and Regulations to take effect upon their posting on the website. The Proposed Rules had already been temporarily posted on American Towers website since last August for the purposes of comment and feedback from Owners.

Adjournment

The meeting adjourned at 9:00 p.m.

Respectfully Submitted,

Lance Williams
Secretary