Laurel Oak Ranch Association, Inc.
Annual Meeting Minutes
MAY 18, 2006

The Annual Meeting of the Laurel Oak Ranch Homeowners Association was held on Thursday, May 18, 2006 at the Laurel Oak Christian Church at 6:30 pm.

The meeting was brought to order by Jason Cox, President at. Additional Board members in attendance were Jeff Smith, Secretary; Francis Traver, Treasurer; and Kim Miller, At Large Member and Bob Beck, At Large Member.

The Minutes of the 2005 Annual Meeting were distributed to the Association at check in. Jason Cox requested approval of the minutes and they were approved unanimously.

The Financial situation of the community was reviewed by Jason Cox with a copy of the annual budget provided to the Association. Laurel Oak Ranch is financially stable with funds set aside for future projects. The budget was unanimously accepted by the Association.

Jason Cox then reviewed the progress made for the Association during the past year. Since acceptance of the Association at the 2005 Annual Meeting, the Board of Directors chose to contract with Slatter Management Services, Inc. effective March 1, 2006 for management of the community. The property manager is Debbie Weishaar.

The Board has adopted a set of Resolutions for the community, established a set of Rules and Regulations for rental of the community clubhouse (which will be turned over to the Association in the near future) as well as a rental agreement. These will be available to the members on the Community Web-Site.

The playground has been completed. A very large hole left during construction has been filled in eliminating a safety hazard. Fencing around the playground area has been completed. There was discussion of additional playground equipment being added, as well as a shelter, which are projects to be addressed by the new Board of Directors.

Jason Cox then opened the floor to members for questions and concerns. One of the major concerns stated by many members was the issue of speeding in the community. Jason explained that the Board had requested assistance from the High Point Police Department as well as the North Carolina Highway Patrol with this issue. The streets in the community are being observed regularly by these law enforcement agencies and a number of tickets have been given by them. The situation has improved, and will continue to improve, with their assistance.

The issue of landscaping was opened. There are areas of common ground in the community that some feel is not being adequately maintained. Jason Cox explained that the Association funds will not allow for all common areas to the landscaped and mowed. There was initial landscaping installed that should have prevented the necessity for maintenance; however, these areas had been mowed in the past creating additional problems. Landscaping will be addressed by the new Board.

Kim Miller was applauded for her outstanding management of the swimming pool and activities implemented for the community. Kim will continue in this capacity for the coming year as a member of the Recreation Committee.

An additional item addressed was the donation of $1,000.00 of community funds to assist with the devastation suffered by the victims of Hurricane Katrina. A member of the community felt that the Board of Directors should reimburse the Association as this expenditure was not used for Association issues. Having researched this prior to the meeting with Steve Black, the attorney for the Association, we did find that these matters should be brought to vote by the Members in the future, however, there is no basis for reimbursement. After discussion of this matter, the members present applauded the Board of Directors for their decision to make the donation.

The issue of noncompliance with the Governing Documents of the Association was addressed. On occasion, members have constructed storage sheds, installed fencing, etc. without having obtained approval. These issues, along with unkept lawns; parking on the street; storage of vehicles, boats, utility trailers, etc. are being addressed by the property manager.

There were three positions for the Board of Directors to be filled with the expiring terms of Kim Miller, Carson Marsh and Jeff Smith. While requests had been made for members to nominate or volunteer, no prior nominations had been made. Nominations were opened to the floor. The following members were nominated to fill the positions available and were unanimously approved by the members: Mason Mayo, Delia Lane and Jay Zeman

There being no further business before the Association, the meeting was adjourned at 7:40 pm.

Respectfully submitted by

Debbie Weishaar, Property Manager