by Mike Conroy
Before the December 6 Montgomery Village Foundation (MVF) Board of Directors meeting, volunteers on local association boards and committees were thanked for their service during the year. Volunteers were invited to a reception where MVF Board President Glenn Gargan spoke about their involvement in the community. Gargan noted that the community runs on volunteers, and their support and dedication to keeping things moving forward was the key to collective success.
Gargan also thanked MVF staff, state and county elected officials, county police and other members of the larger community for their support and commitment to keeping Montgomery Village at its best.
During the Board meeting appreciation for volunteers continued. Each Board member took time to thank those who spend hours of their time each month working on boards, committees and in organizations that support the Village. Specifically, they recognized the first Student Representative, Chioma Nwoye, who exceeded their expectations in the position. Nwoye took on the challenge of working with the Board, attending meetings and completing a summer internship in the MVF Office.
To ensure that the theme of volunteerism is carried into 2019, the Board appointed Village resident Wesley Brown to the Investment Committee. CFO Daniel Salazar noted Brown’s interest in the committee and noted that his professional expertise would be a great fit for the committee in maintaining MVF’s investment structure.
Other Agenda Items
During the meeting, Nwoye gave a presentation for a portable skatepark concept she worked on during her tenure as the Student Representative. The concept featured skateboard equipment (ramps, rails and boxes) that could be taken to various locations in the community to offer a “pop-up skatepark” experience. A potentially actionable project that impacts youth or schools is a part of the Student Representative position, and a focus of the work produced during the summer internship.
The Board also approved an addendum to the Landscape Service Agreement with BrightView Landscaping that would cover the necessary maintenance for the field renovations in South Valley Park. Because of the new turf and irrigation, the field requires a different schedule of services than those in the current contract.
In preparation for 2019, the Board also approved several personnel-related items including giving the EVP the authority to negotiate and execute contracts for insurance and employee healthcare insurance. Additionally, the 2017 Retirement Plan Audit Report was accepted.
Executive Vice President (EVP) Dave Humpton echoed the earlier remarks about volunteers in the community, thanking them for their service throughout the year. Along the same lines, he noted the election of the new county executive and county councilmembers, saying he was looking forward to working with them on Village issues, and providing a new set of officials with some background on how Montgomery Village’ s uniqueness is an asset in the county.
Humpton also mentioned recent staffing successes, noting in particular efficiencies and hard work in the Architectural Standards Department, in processing inspections and Property Improvement Requests. He said under the direction of Katherine Webb, the team has really taken advantage of the SmartWebs software and is taking full advantage of its capabilities in the field.
He finished his report with some holiday cheer, thanking staff and residents for a fun Christmas Tree Lighting event at the end of November. Humpton said even though it was cold, he always enjoys seeing the kids’ reaction to Santa Claus arriving on the fire truck, and the start of the holiday season.
CFO Daniel Salazar gave the financial report for the year-to-date (YTD). He noted that overall results through the end of October were favorable to the budget mostly due to the Capital Contribution Fee and camps and classes; he said these are offset by lower than expected investment income and Village News advertising.
MVF’s YTD Net Income was reported at $691,897, which is favorable to the budget by over $233,000. Personnel costs were also favorable to the budget due to vacancies throughout the year. Operating costs were also favorable to the budget mainly due to lower expenses for landscaping and business and service contracts. Overall, Salazar noted that YTD expenses were favorable.
He said that the Balance Sheet continued to show MVF in a solid financial position with $8.5 million asses in cash and investments. Assessment receivables continue to improve, with delinquencies continually improving. MVF maintains over $1.9 million in Undesignated Reserves.
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Jan. 24 in the North Creek Board Room, 20125 Arrowhead Road. "Meet the Candidates" from 7 to 7:30 p.m. The meeting begins promptly at 7:30 p.m. with Residents Time. Residents are invited and encouraged to attend. The meeting agenda and information packet will be available online at www.montgomeryvillage.com the week of the meeting.