• The Board approved Dave Ahearn’s appointment to fill the seat vacated by Paula Sherlock. His term will expire in 2023. Paula resigned from the Board to avoid potential conflicts of interest as she begins her new role as Southern Shores councilwoman.
  • Financial conditions remain favorable. Though total operating expenses for November exceeded budget, year-to-date expenses are 4% below budget. Net income for the month was $4,000 and totals $467,000 year-to-date. The latter includes payroll tax credits from federal Covid relief programs.
  • The Board approved the 2022 operating budget. With expenses totaling $2.9 million, a net income of $192,000 is projected. The Board thanked Natallia, Patrick, and the Finance Committee for the careful attention to details and for achieving expenses that balance with projected income.
  • The Board approved the 2022 capital budget with projected spending of $273,500. Included are refurbishment of the pool complex, new treadmill for the fitness center, greens and grounds equipment, golf range improvements, food and beverage supplies and equipment, clubhouse carpet replacement in select areas and two replacement workstation computers. The budget also includes reserves for unexpected and discretionary capital expenses.

Betsy McCaughey