A meeting of the Board of Directors of the Williamsburg Settlement Maintenance Association, Inc. was held on Tuesday, September 19, 2006 at 5:30 p.m. at the offices of Planned Community Management, Inc.

ATTENDANCE

Directors in attendance were Richard Erbert, Don McClelland, Patrick Sammons, Lance Gordon, Sue Dean Smith and Linda Moore. Also representing Planned Community Management, Inc (PCMI) was Dolores Sue and Candace Wiggins.

A quorum being established, the meeting was called to order at 5:40 p.m

MINUTES

The minutes of the August 15, 2006 meeting were reviewed and upon a motion made, seconded and approved, it was unanimously agreed to accept the minutes as written.

TREASURER

The treasurer of the Board explained to the members present that he has reviewed the CDs that are currently in the reserve account and made a motion that as each of them mature they be reinvested with nine (9) month terms. The motion was seconded and unanimously approved.

2007 BUDGET

The Board reviewed the preliminary budget. After due discussion and changes the Board unanimously agreed to adopt the 2007 budget. (See Budget page for details)

2007 RATE

A motion was made, seconded and unanimously agreed to set the 2007 annual maintenance rate at $600.00

The next meeting was scheduled for October 17, 2006 at 5:30 p.m. at the clubhouse, 1602 Hoyt.

There being no further business to come before the Board, the meeting was adjourned at 7:30 p.m