Board meeting 5 October 2017 6:00 PM central standard time

Roll call

Paul Huss

Mike Hiese

Brian Hein

John Loftus

Francis Balthazor

Non board members

Cathy

Jim

Bob

Approved the minutes

Treasurers report

Checking. 11174.14

Savings. 313684.40

Escrow. 94231.50

We have billed 318956.00

We have only collected 118113.00

Outstanding amounts. 200843.00

Question to Cathy on what we will be able to collect from outstanding time
share dues?

We are getting people that are turning in their weeks rather paying fees. 20
percent may drop off, which has been the trend for the last few years. We
may only have 250 owners after this year.

We will only collect maybe half of what is outstanding.

Budget

We will have an audit soon so we can present to another entity. John has
been doing some forensic work on our past accounting systems and what our
financial situation was, in order to make sure we are where we think we are
financially.

We have great numbers on expenses. Which has been helpful in budgeting the
last couple years.

We Take all the expenses from the prior year add for inflation and add the
amount of improvements.

2018 budget will be approved on or around the 30th of October.

We do not have a a good idea on how to forecast because we do not know what
effect the hurricane will have on tourism.

Cathy and Paul are confident that Joel is doing a good job and the numbers
are right.

Budget put on the website…Brain will post it.

We will switch the the newsletter to another software version

Have letter out by the 30th

Brian’s report:

Lake Country

Action plan

Future bookings are stagnant.

Cancellations keep coming in.

May need a new date for when dues are need to be paid. Some people are
concerned that due to circumstances that we will not receive them in the
mail or that they cannot send them to Sarah by credit card.

Enter a grace period into the newsletter

We will be canceling reservations up to the 31 st

RCI to December

Air travel is becoming restricted. Less flights

Nov 2016 to March 2017 $391000 in future bookings

Nov 2017 to March 2018 $146000 in future bookings

Will we be able to pick up St. Thomas people ? We may.

USVI is telling tourists not to come down.

Question. What do we need to do to fill the rooms. Real Power…

Not generators. We need to find power somehow…..

We are calling on everyone we can to get WAPA to get us power.

Al Warrington is trying as well. If we can get power we can get first
responders in and help rebuild the island. He is talking to the Governor’s
assistant.

According to rumors we may have a timeline on when we get power soon. Others
are calling VI senators.

Can we send contractors. Our electrician is ready to go to replace the wires
once WAPA has replaced the pole.

Brian called WAPA and opened a repair order.

Cathy will provide a list of needs to the board as soon as they can.

Cathy will begin the FEMA paperwork.

We will post Mitch’s resignation on the website and include in the
newsletter.

Hotel staff update.

Mary is no longer with us. she left before the hurricane.

We have confirmed that all staff are ok.

We have had staff put rooms back in order. Rooms are ready to go with only
taking care of linens once we have power.

Open board seat. People submit their resume then we as a board review then
we vote to approve that person.

We will not open this up on the newsletter.

Mike motioned to ask Fran Scuderi and bob and Jim to submit resume for the
board. John seconded that the ayes have it.

30 th of October for the next meeting 6 pm

Mike motioned

Brian seconded

ayes have it.

Motion to dismiss

Mike motion

Brian seconded