November 20, 2001 6:30 p.m.
Orange County Library - Alafaya branch, 12000 Colonial Drive

Members present: Lee Blackwell, Jean Thomsin, Steve Hartman, Larry Sheeler, Bill Snook and Cookie Symons (quorum established). Members absent: Myron Davis. Neil Thomas, Property Manager from Penn First was also present. In addition there were five homeowners present.

President Blackwell called the meeting to order at 6:30 p.m. Proof of Notice was given.

The minutes from the October 16, 2001 meeting were reviewed and approved as submitted.

Financial Report
Neil Thomas presented the Income/Expense Statement and Balance Sheet for the period ending 10/31/01. The Board also reviewed of the Delinquency Report. The Board appointed Lee and Steve to visit account #'s 050 and 057 to see if they could work something out to have them bring their accounts current. Larry motioned to write off all outstanding balances under $1.00. Seconded by Bill. The Motion passed unanimously.

Committee Reports
ARC - Neil reported on violations. 932 Spring Island Way has repaired the damaged turf after receiving the Final Violation Letter. The owner of 732 Divine Circle is out of town until the first week in December, but will have the commercial truck moved at that time. In all there are about 15 active violations at the present time between doorknockers and violation letters.

Newsletter - Lee reported that he got color printing for the current issue of the newsletter for a cost of $127.50. As this was more than the cost for black & white that the Board had originally approved, he asked the Board to approve the expenditure. Everyone was in agreement. Larry made a motion to approve up to $130.00 for future publication of each issue to cover the costs of color printing. Seconded by Cookie. The motion passed unanimously.

Old Business
Drainage - Larry reported that the County has now responded verbally to their review of the data. They have said that there is no problem with the system and that was built properly. The Operating Committee for the Master now needs to meet and decide the next course of action.

Lee reported that he ugly green Adelphia cable box has been replaced with a fiberglass rock that blends in to the landscape much better.

Larry reported that he is working on getting contractor to schedule the boring under the street to run the needed wiring

New Business
The Board reviewed three proposals to do the 2001 Audit for Cypress Isles. They were as follows:
Navarez Hegert, CPA, P.A.
$550 not to exceed $650 - plus miscellaneous items (travel, postage & other) not to exceed $35. Preparation of corporate tax returns, $275 additional.
Total cost of audit plus tax returns (up to $960).
Arrington & Company, P.A.
$500 to $600 (inclusive of preparing federal and state tax returns).
This is for a financial review of the balance sheet as of December 31, 2001, and the related statements of revenues, expenses, and cash flows. These services do not include an audit of the financial statements.
Joseph R. Michalak, CPA
Fee for financial audit based on actual time spent at standard hourly rates, estimated not to exceed $700 (inclusive of state and federal tax returns).
A motion to accept the proposal from Joseph Michalak was made by Larry. Seconded by Cookie. The motion passed unanimously.

Jean reported that he will be submitting a new article on how to prune trees and shrubs.

Larry reported from the Master on the proposed Maintenance Standards for landscaping at the neighborhood entrances.

Lee mentioned that there were 9 to 10 trees behind the second entrance on Lake Underhill that need replacement. Cypress Isles will piggyback these when the Master does plantings.

Lee asked for volunteers to Judge the Christmas decorations in Bradfordt Lakes as they are exchanging with us. Bill, Chip and Eddie volunteered and will meet at the back entrance on Saturday December 22 at 6:30 PM.

There was discussion regarding whether to go to a quarterly meeting schedule in 2002. The discussion was tabled until the next meeting. A motion was made by Cookie to cancel the December Meeting. Seconded by Bill. The motion passed unanimously.

Open Forum
A new owner was in attendance and asked for more detail on the drainage problems brought up earlier. There was a short discussion.

An owner expressed a dislike for the metal fencing that the Board had recently approved on an ARB request. It was explained that in reviewing the request, the Board felt that it was of a quality and appearance that would enhance the property values in the neighborhood.

Motion to adjourn made by Larry. Seconded by Lee. Meeting adjourned at 7:25 P.M.

Next meeting is scheduled for Tuesday, January 15, 2002 at 6:30 p.m.

__________________________ _______________________
Neil E. Thomas CMCA, PCAM Board of Directors
Penn First Management, Inc.