SILVER RIDGE HOA

MEETING OF THE BOARD

MINUTES

27 OCTOBER 2003

The meeting was called to order at 7:00 P.M.

In attendance were Bonita Martin, President; Charles Bautz, Vice-President, and Shannon Frith, Secretary/Treasurer.

The minutes of the 29 September 2003 were approved as submitted.

TREASURER’S REPORT

The ending cash balance as of 30 September 2003 was $xxx. Expenses were within the expected range for the month.

ARCHITECTURAL CONTROL COMMITTEE REPORT

No Report

The Board decided that the mailbox post painting will be delayed until the spring.

OLD BUSINESS

Landscaping Fees - Shannon moved that Bonita contact Laurence Smith of NMA and ask that NMA pay for the $800 of landscaping services as NMA had previously communicated that they would cover (since the HOA Board had not wanted these services and NMA failed to properly communicate this). If NMA still refuses to pay for the $800, Bonita will ask NMA to split the costs equally between them and the HOA. The motion was seconded and passed.

Annual Meeting – The HOA annual meeting will be Saturday, January 24, 2004 from 10:00 – Noon at the South Cobb Government Center.

NEW BUSINESS

2004 Budget – Bonita moved that Shannon prepare 2004 budget scenarios to be considered at the next meeting. These scenarios shall include varying assumptions of HOA dues increasing or remaining constant and the same for the monthly management fees paid to NMA. The motion was seconded and passed.

The next Board meeting was schedule for Monday, November 17 at 7:00 P.M. at Shannon’s home, 1600 Silver Oak Drive.

The meeting was adjourned at 7:45 P.M.