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Chimney Hill board approves capital reserve plan; earmarks extras for water work
Summary
The board approved a capital reserve plan prepared by the executive director and agreed the end-of-year surplus should be used for water-system projects, with the treasurer to follow up on the auditor report.
Board members reviewed the capital reserve plan James Walker prepared showing projected projects for 2025/2026 and beyond. Kevin Comeau led the financial overview; members discussed liability-segregated reserve line items, insurance exposure and several possible future projects including clubhouse, pool, water system work, vehicles and road improvements.
The board approved the plan as presented and agreed that any additional year-end funds should be applied to the water project. The treasurer will follow up with the auditor report before final allocations are made.
