Minutes of the Board of Trustees Meeting

Friday, April 2, 2004

4:00 P.M.

Norman Salisbury called the meeting, convened in the Community Room, to order at 4:00 p.m.

Residential Trustees present and participating: Norman Salisbury, Irene Link, John Patton and Sandra Lee Sterns

Commercial Trustees present and participating: Donna Boes and Steve Tester.

Excused: Larry Shelton

Management present and participating: Joe Toronto

Approval of Previous Minutes: March 23, 2004

The Minutes of the March 23, 2004 Board of Trustees Meeting, upon motion duly made and seconded was unanimously approved.

Finance Committee, Budget Approval

It was reported that the Finance Committee subsequently met since the last Board Meeting and approved and recommended the strategy proposed by some Trustees during the open session. The budget was modified with an aggressive cost cutting program to realize savings at least equal to the increase in the assessment. Upon motion duly made and seconded, the 2004-2005 budget was unanimously approved.

The Finance Committee also recommended that Huber Erickson & Bowman be approved to perform this years audit. Upon motion duly made and seconded, Huber Erickson & Bowman  was unanimously approved to perform the 2003-2004 fiscal year audit.


The meeting adjourned at 5:00 p.m.

Respectfully submitted,

Sandra Lee Sterns