Minutes of the Meeting of the Board of Directors of Seaglass Village Condominium Association May 17,

Meeting held by teleconference. Technical problems may have prevented some attendees from hearing the entire meeting.

All Board Members were present. Judy Moseley was in the chair.

The meeting was called to order at approximately 9:15 A.M. EST.

Presidential Report

Guidelines released this week are per our lawyer after consultations with the Town.

Customer Service Manager Report

Dakota hired as rental manager. Alana made a detailed report on Dakotas duties and background.

Operations Manager

Report Maintenance team has pretty much finished opening list. Property is ready to go.

Pools are coming along nicely. Was an issue with front pool. Engineers of pool company noticed structural issues with pool deck, which needs to be cut free. The same issue is present on the doughnut pool.

Back wall of clubhouse is almost finished. Siding has not yet arrived, but should be in during the next week.

Mickey reports that the repair to the deck was already in the budget. The total amount will be within the $180K budgeted. A second assessment will be made in August for the balance of the repairs.

No estimated date of completion. They are think that is will be done around mid June subject to weather delays.

Donnie was instructed to consult EMOC and get estimate for gutters throughout the building.

Committee Reports

Entertainment: Susan requested guidance from the Board on whether to cancel bookings. May and June books have already been cancelled. She says that they would like to cancel but leave deposits in place with the bands for next year.

Board general indicated by motion that we should get our deposits back through August if possible, and September and October contingent upon the committees decision to cancel. Passed unanimously.

EMOC: No additional report.

ARC: No report.

Rentals: We are currently taking reservations for stays after July 1st in accordance with the Governor’s order. We are communicating all restrictions which are currently in place.

Question from the floor: What is considered the season?... Clarification, if you wish to discontinue participation in the rental program to please cancel the contract.

Approval of Minutes of previous meeting.

Motion to approve was passed unanimously.

Financial Report

Richard reports that April financials are complete. YTD we have revenues of $227,000. Net income of $22,000. Balance sheet shows deferred rentals of $66,564, which may need to be refunded.

Payroll protection loan was received and is shown as a liability on the Balance Sheet. This will be realized as income when the loan is forgiven.

Motion to approve and release April financial reports passed unanimously.

Accountant is reviewing financials for 2019. We should have the report soon. Hopefully by June 1.

New Business

Cottage Painting: Reach out to Judy if you want to postpone your painting.

Hardship postponement of assessment. Will be discussed in the future.

Opening instructions. Checklist was summarized and discussed. It will be posted on Seaglass Friends website. Opening procedures e-mail was read and discussed.

Executive Session

Executive Sessions are not recorded in the meetings.

Adjournment Motion to adjourn passed unanimously.

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