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Hidden Lake Association accepts minutes; treasurer reports healthy balances and CD maturities
Summary
At its Feb. 18 meeting the Hidden Lake Association accepted the January minutes and heard Treasurer Fern Fisher report bank balances and several certificate of deposit maturities; the board noted payment plans are current and a delinquent account moved to legal action.
The Hidden Lake Association board met Feb. 18 at the Davis Public Library and unanimously approved the January minutes. The motion to accept the minutes was made by President Chris Vachon and seconded by Vice President Marc Belland.
Fern Fisher, treasurer, presented the association’s current financials, reporting SBW account balances including checking $119,953, a Waterfront account of $7,987, a Rainy Day fund of $15,623, Pre-Pay Savings $4,290 and Capital Expense $10,607. At SCU she listed a savings balance of $61.54 and multiple certificates of deposit with upcoming maturities: a 6-month Gravel CD $10,000, a 6-month Playground CD $2,812, a 12-month CD $10,599, a 15-month CD $10,641 (scheduled to roll into a 6-month CD next week) and an 18-month CD $21,285.
Fisher said the board’s total of on-deposit funds across these accounts and CDs provides operating liquidity for the coming season and planned maintenance. She also reported that all payment plans currently in place are up to date and that account 110-13 completed its payment plan in the past month.
The board did not take any formal budget votes at the meeting; follow-up items include reviewing investment rollovers and any recommended changes at the March meeting. The next regular board meeting is scheduled for March 11 at 6:30 p.m. at the Davis Public Library.
