The meeting was called to order by President Don Vogel.  He noted that a quorum was present and that the meeting was being taped.

Directors present were Gene Allen, Jim Davidson, Gene Sams, Rex Stevens, Jeff Stillman, Angela Vanover, and Don Vogel.  Jim Hicks and Steve Lee were absent.

President Vogel reminded the directors that the purpose of the meeting was to discuss various aspects of the 2008 budget.

Jeff Stillman stated that he did not think that the ’08 assessment should be raised the maximum 5% allowed by the Covenants & Restrictions.  Jim Davidson noted that monies not received in this way can never be recovered.

Treasurer Jim Davidson noted several other aspects of the proposed budget.

• Festival of Lights to be reduced to $3,000.00.
• Printing is reduced due to the e-mailed newsletter
• Salaries are computed on 3% increases
• County Lot expenses are included based upon purchasing some of these lots for resale in ’08.
• Lifeguards at the beach would be discontinued.
• No fish are to be stocked
• Gasoline has been increased
• Increased road repair work
• Repair of the Holly Dam spillway

There was discussion on each of these points for the directors to ponder and review.
Discussion also included a new truck for the maintenance department, Holly Park upgrades, lake treatment, and prescheduled chipping at a drop off point in the Village.

There was substantial discussion regarding the lifeguard proposal.  Manager Kroeger read an excerpt from a letter he had received from Cincinnati Insurance.  He was directed to check with our legal counsel as well.

The budget is expected to receive a vote at the regular November meeting.