DRAFT ONLY – NOT YET APPROVED

River Oaks Gardens Board of Directors Meeting

Minutes for

February 12, 2009 – 6:00 PM

The meeting was called to order at 6:00 p.m. by President, Kim Hobbs.

December meeting minutes were tabled until the next regular meeting.

Financial Report

1.) KRJ Property Manager, Pam Rabus, reviewed the financial report including: the Operating Account balance of $32,399.02. In the Money Market Accounts our Insurance Reserves $36,643.00, Replacement Reserves is $196,681.85; Interest is $19,533.24; the CD is $25,000.00; with a Total Reserve Balance of $277,858.29.

2.) Payments for all operating expenses and reserve transfer for the month have been made.

Manager’s Report

1) Pam advised that signage required by the Fire Department has been installed at all drive gates and 911 boxes have been updated.

2) Southern Pool replaced old main drain in the pool, with new covers that are now required under the Virginia Graeme Baker Act, cost $268.92.

3) ADT installed a new monitor for courtesy officers to see clearly at night. B&V Electric is in the process of installing additional lighting for cameras.

4) Additional rat bait stations added to Buildings O & P, due to increased rat activity. Bird feeders in the area should be removed as rats have been seen eating from the feeders.

5) Gate repairs to Drive Gates #4, #7 and Walk Gates #4, #6.

6) Notice of Annual Meeting is March 26th.

7) Looking to find another location for Annual Meeting.

Board Report

Board voted and approved to renew terms for two CDs ($10,000 at 9 months and $5,000 at 6months).

Homeowners’ Open Forum was held at 6:32.

The meeting was adjourned at 7:00 and the Board of Directors entered into Executive Session which lasted until 7:55 p.m.