Board Briefs 11/24/21

11/24/21

Dear Residents, please see below from your Board of Directors.

• During our review of insurance policies, we discovered that the association does not have the Fidelity Bond required by our governing documents and hasn’t had one in at least the past 14 years. Therefore, our Community Manager Scott is obtaining a quote from our insurance company in compliance with our governing documents.

• Although LED lights are more energy-efficient, this is not a project that would result in demonstrable savings in our electric costs in the short term. However, we will put this on our project tracking spreadsheet for future consideration.

• Our cost-benefit analysis on our use of the Sperlonga Credit Reporting Agency revealed that early termination of the contract is of no benefit. We will, however, not renew the contract when it ends next March.

• A detailed review of our invoices revealed that the association has been paying a standby service fee to the water company (past and present) for vacant Glen-owned lots. As a result, management reached out to the water company to protest the cost and successfully canceled this fee going forward. The result is a savings of approximately $1,000 yearly.

• We are finalizing the draft of our strategic plan and project list. We will present this to the membership at our meeting on December 4th. We also compiled members’ comments and questions concerning the budget and will distribute the responses to all members via email blast the day of the meeting.

• We have had no eligible applicants for the Compliance Officer job posting. As of today, we still have an opening for Monday through Wednesday 12 hour shifts. This opening is a full-time position with benefits paying $15 per hour.

• Several delinquent account owners we took legal action against are now making payments or have paid their balance due in full. We will continue with our collections process.

Sincerely,

Scott Matthews Jr.

Community Manager