The meeting was called to order by President, Henry Lawson.

Minutes for Approval:

Motion to approve minutes 1/22/2007. Motion carried. Motion to approve minutes 2/26/2007. Motion carried.

Committee Reports:

Architectural: Henry Lawson reported that for the month of February architectural was over budget by $4,220.82. Complete report on file in the association office.

Building and Grounds: John Peterson reported that work was completed on the HVAC in administration. Concrete sidewalk at the marina poured. Handicap rail on the stairway at Yacht club repaired. Upcoming projects include: remodel women’s and men’s restroom at the Yacht club, tile floor and entry stairs. Kitchen repairs and plumbing repairs to meet Daphne code.

Communications: No report.

Finance: Joe Moseley reported that the net income through the month of February after depreciation is $61,640. Current cash on hand is $242,327. Complete financial statement is on file in the association office. He also reported that a finance committee meeting would be scheduled in April for the first quarter review of the budget.

Food and Beverage: Sherrie Weller reported all three food and beverage establishments experienced a loss during the month of February. The losses are directly attributable to a slow sales month. The cost of goods were on target for goal projections. Eight functions were hosted during the month with a profit of $3151.33. Ten functions were hosted in March and there are 13 functions booked to date for April. Complete food and beverage report is on file in the association office.

Greens: Willie Robison reported a profit of $5530.62 for the first two months of golf compared to a budgeted loss of $19,791. Upcoming projects include cart path and curbing repair for holes 9 and 17 on the Forest course. $3,000 has been budgeted for repair. Complete greens committee report is on file in the association office

Lake: John Peterson stated that concerns have been raised to Daphne regarding the impact of development of Highway 90 and its impact on the lake. Mayor and sediment officers getting bids for a retention pond to be maintained by the city. It will intercept runoff from the developed properties.

Recreation: Clint Martin reported tennis income for the month was over budget by $1871.36. Tennis labor and operating expenses were under budget. Pools under budget in labor and operating expenses. T. Fassbender commented on repainting of the pool on Ridgewood. Ridgewood is the only pool that has to be repainted yearly. The other two pools are made of materials that do not require painting. Cost prohibitive to change Ridgewood to non-painting surface. Cost to paint Ridgewood little over $2,000. If not painted, particles will peel from walls and cause pool to be shut down.

Yacht Club and Marina: Marie Bidney reported profit at the Marina for the month at $1716; year to date $2891. There are 39 available wet slips with 25 rented. There are 83 dry slips available with 73 rented. 583.5 gallons of gas in inventory. Concerns raised by BT Cocke about level of gas and possibility of water seeping into gas. Plans for Dauphin Island race continuing.

General Managers Report: Lease signed for the stables. Contact with Baldwin Sign Company regarding revitalization of Hwy 98 sign. Anticipated 3 weeks to complete but obviously delayed.

Details for skipper’s party on Friday, April 27 completed. Notices being given regarding no karaoke on Friday, April 27. Also will not be able to park at the Yacht Club. Ramp at marina will be closed at 4pm. Information to be published on informational signs and Lake Forester.

The golf course maintenance equipment lease has been completed. The golf cart lease is nearing final negotiations.

Collections by RBI for the month equaled $6,673.50. 19 lien letters were filed and 34 delinquent letters were mailed. 10 liens have been paid in full with payments being made on a number of others as well as delinquent accounts. Currently, there is $252,124 in collections.

Insurance policies expire at end of month. Estimate having to pay $45,000-$50,000 in premiums at the end of March. The insurance companies are still in the process of submitting quotes with various options for coverage like cash value versus replacement coverage. Discussion about various options. S Weller made motion to continue insurance coverage as presented by general manager – all buildings will continue to be covered with replacement coverage except the harbor shack, fuel building and stables. Those will be covered with actual cash value. Motion carried.

Member Comments:

Doretta Bottenus asked that the board consider posting delinquent accounts within the properties of Lake Forest – Yacht Club, 19th hole, tennis center, etc.

Arlene Hammond expressed concerns over the lack of progress for cleaning up the lake.

Henry Grothaus suggested that improved signage, primarily directional signs, within Lake Forest is needed. Presented document titled “Recommendations for improved signage within Lake Forest”.

Old Business:

B Cocke discussed financial investment made by D’Olive Bay Restoration committee to develop and build actuator valve for the gate at the lake. Motion made to repay $500 for valve. Motion carried.

B Cocke discussed that he had the plans for isolating the country club building for better utilization of air conditioning.

New Business:

Joseph Hall, stables manager, requested in writing that the Board consider increase in boarding rates to cover increased costs of hay, feed, fuel, utilities, etc. $25 per month rate increase requested. J Peterson made motion to increase monthly rate by $25. Motion carried.

Club industry consultant: The LFPOA to accept the revised contract offer from McMahon Group for the completion of the membership survey at a cost of $20,000 along with per diems.

Willie Robison suggested that each board member evaluate the current House and Ground Rules and bring suggestions for changes to the Board. The golf committee is prepared to present changes.

BT Cocke announced that effective March 31; he will resign from the Board. A formal letter of resignation will be filed with the General Manager before the end of the month.

Adjourn: