Meeting called to order Wednesday, October 3, 2012, at 6:00 p.m. in the 870 Inman Clubroom; quorum established.

Attendance

Brad Davis, Darius Hodge, C.J. Sinar, Hunter Ford, Nick Scott, and Kristy Cowell

Business

2013 Proposed Budget

The Board discussed the 2013 Proposed Budget. As with all previous budgets, nearly all budget line-item costs are fixed. The Board discussed the relatively few various discretionary and otherwise flexible expenses. Based on these discussions, Kristy Cowell will prepare a slightly revised proposed budget for further consideration in advance of its presentation to the 870 Community during the upcoming Annual Meeting. After considerable discussion, the Board deems it necessary to initiate modest increases in the monthly HOA dues to maintain the financial health of 870 Inman. This initiative will be conducted in full compliance with the procedures and rules set forth in the By Laws and other governing documents.

Adjournment

Meeting adjourned at approximately 7:25 p.m., with the next meeting to occur one month later or at such time as the Board deems necessary in accordance with the by-laws.