AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Residential Board of Trustees Meeting

Wednesday, October 12, 2016

5:00 P.M.

Sandra Lee Sterns called the meeting, convened in the Community Room, to order at 7:00 p.m.

Residential Trustees present and participating: Sandra Lee Sterns, Lance Williams, Melyn Campbell, and J.R. Gabriel.

Appointment of Officers

It was announced that Sandra Lee Sterns was elected as President, J.R. Gabriel as Residential Vice President, Melyn Campbell as Treasurer, and Lance Williams as Secretary.

Approval of Previous Minutes

The Minutes of the August 13, 2016 Annual Meeting of the Members upon motion duly made and seconded were approved.

Finance Committee

The Financial Statements August 31, 2016 were reviewed. The Association reported an unaudited operating surplus/(deficit) of $9,668 Year-to-Date as of August 31, 2016. The Common Reserve Fund has an unaudited balance of $309,555 and the Residential Reserve Fund has an unaudited balance of $367,301 as of August 31, 2016.

Forum Discussion

Topics discussed included proposals to bring fiber optic high speed internet to American Towers, renewal or extension of our Comcast TV contract, and new signage for the Third South entrance.

Adjournment

The meeting adjourned at 8:30 p.m.

Respectfully Submitted,

Lance Williams
Secretary