Chesterfield Homeowners Association, Inc.
2004 Annual Meeting
December 1, 2004

Meeting Location: Messenger Library, North Aurora, Illinois

Board Members Present:
Mark Bozik, President
Kevin Fatten, Vice President
EJ Klages, Secretary
Michael Savini, Treasurer

Call to Order
The 2004 Annual Meeting of the Chesterfield Homeowners Association was called to order at 7:18 pm by President Mark Bozik. Quorum was established by homeowners represented either in person or via proxy. Also in attendance was Mr. William King, Jr., the Association’s legal counsel.

Approval of the Minutes of the 2003 Annual Meeting
Upon review of the minutes of the 2003 Annual Meeting of the Homeowners, Mark Bozik called for a motion from the floor to adopt the minutes as presented. Kevin Fatten made a motion to approve the minutes as presented and was seconded by Michael Savini. Motion to approve the minutes of the 2003 Annual Meeting was passed unanimously.

President's Report
Mark Bozik thanked the homeowners for attending the annual meeting and election of officers to the Board. Mr. Bozik reported that Board Member Cari Podolok, who served as the Secretary, had resigned from the Board leaving a vacant seat. Mr. Bozik thanked her for her time and dedication on behalf of the community.

Treasurer's Report
Michael Savini reported that income and expenses for the month of November 2004 totaled $37,115.53 and $42,418.95 respectively, leaving a net operating deficit as of 11/30/04 of ($5,303.42). Reserves were not funded during the month of November 2004. A projected year end balance in Reserves, including interest, is estimated to be $21,737.59. Reserve expenses worthy of note were the $42,000.00 transfer to operating for payment to Pizzo and Associates, Ltd. for the repair to the wetland conservancy area. Other operating expenses worthy of note in the month of November were:

• $2,488.79 to Pizzo and Associates for the wetland repair
• $565.00 to Oasis Irrigation for the winterization of the irrigation lines, and
• $4,050.00 for the last installment of the Winters Landscape contract.

Utilities paid during the month were:

• $759.00 to the Village of North Aurora for the water bill, and
• $58.37 to Com Ed for electrical.

Old Business

Landscape Bids
EJ Klages reported that two bids have been received for the continuing maintenance contract for the 2005-2006 season. No motions were made pending receipt of a third bid. Item was deferred for approval to next regularly scheduled meeting.

Management Company Bids
Awaiting additional bids from alternate management companies for the Board to review, Mark Bozik tabled the issue of replacing OAM (Owners Association Management) as the community managing agent until the next meeting.

Retention Pond Signage
The Board reviewed warning signage proposals for the retention area. Discussion was held regarding the specifics of the language and materials the signs would be constructed of. Motion to approve was deferred by Michael Savini until further information is acquired. Item was tabled for approval until the next meeting.

Web Site
Discussion was held amongst the Board members and attendees with regards to the status of the community Website. Barbara Young, resident and volunteer webmaster, reported that the community domain name was set up incorrectly and that the Association would need to re-register with a new domain and pay for hosting fees to get the website functional. The Board discussed the matter among the members and Kevin Fatten made a motion to have Barbara Young acquire a new and permanent domain address and acquire a new hosting service. Motion was seconded by Michael Savini. Motion to re-register and host Chesterfield website was unanimously approved.

Election of Officers
EJ Klages registered all attendees and provided ballots. Mark Bozik briefly reviewed the voting procedures and advised that there were two seats available on the Board. The terms of office for these two seats are two-years. Mr. Bozik requested that any qualified homeowner wishing to submit their name for candidacy to make their presence known. Four homeowners stepped forward to submit their names for candidacy, including incumbent Board member Kevin Fatten. Each gave a brief presentation on their skills and reasons and qualifications for running for the Board.

Ballots were collected by Michael Savini who then made a final call for all proxies. With no outstanding proxies or ballots brought forward, the election was closed and the ballots tabulated. The results of the 2004 election were as follows: Kevin Fatten and Cate Sullivan were elected to the Board of Directors for two-year terms of office.

New Business
2005 Annual Budget
The proposed 2005 Annual Budget was distributed to the Board. Upon review and discussion, Mike Savini made a motion to adopt the 2005 budget as submitted and was seconded by Mark Bozik. Motion was unanimously carried.

Open Discussion
With all Board business being complete, the Board suspended the meeting and opened the floor for open discussion.

Adjournment
With no further action items pending Board review or approval, a motion to adjourn was made by Mark Bozik and was seconded by Kevin Fatten. Motion to adjourn was unanimously approved and the meeting adjourned at 8:58pm.

Submitted By,
Cate Sullivan, Secretary
Chesterfield Homeowners Association