HHCI BUDGET & FINANCE COMMITTEE

MEETING MINUTES

October 22, 2008 2 PM

The meeting convened at 2:01 PM in Unit A102. Present were George Field, Judith Wright, Jean Herr, Ruth Thomas, Warren Miller, Kay Franklin, and Ed Plummer.

Upon motion of George Field, with second by Judith Wright, the minutes of the previous meeting were approved as circulated.

Warren Miller reported that the $1050 appearing under A/R appears to relate to the sale over a year ago of unit A108.

Warren noted that we spent $63,158 from Reserves this past year and this amount would have amounted to a Special Assessment of $831 per unit had we not had the Reserve Fund.

The proposed 2009 budget was reviewed item by item.

Warren Miller stated that his target was to have enough money in CD’s to equal the funded Reserves, with money in the checking and money market accounts representing Operating Funds.

Due to the holidays in November and December, the committee decided the next meeting should be on Wednesday, December 3^rd with the meeting after that on Wednesday, January 7^th.

The meeting adjourned at 3:17 PM.

Respectfully submitted by Ed Plummer