MERIDIAN VALLEY MAINTENANCE ASSOCIATION
MONTHLY BOARD MEETING MINUTES
April 8, 2009

CALLED TO ORDER BY PRESIDENT JACK OTTINI at 7:02 p.m.

ATTENDANCE:  Jack Ottini Terry Lavery, Ed Bangsund, Jim Schack, Frank Wisdom, Bill McLaughlin, Bob Steiner, and Cheryl Havener
Absent:  Ryan Thrower
Guests:  Dean Saggau, Peg Steiner

PREVIOUS MEETING MINUTES:  Approved as written

Dean Saggau, our Financial Advisor from Edward Jones, was a guest of this meeting to explain our investment positions of the long range plan funds.  He explained how Edward Jones operates and then distributed a portfolio analysis, American Funds American Funds American Balanced sheets, and an article from American Funds titled “The Long View”.  Copies are attached in file.  The total portfolio is down by 23.29%   He was questioned on our portfolio being balanced as he was directed by our Financial Policy.  The purchasing of bonds was not done on a timely basis.  After Mr. Saggau left, it was decided that Jim Schack and Peg Steiner would meet to determine a re-allocation.  It was suggested possibly buying Certificates of Deposits outside of Edward Jones.

TREASURER’S REPORT:  Jim Schack

COMMITTEE REPORTS:
COMMON GROUNDS: 
Ed Bangsund

SECURITY:  Terry Lavery / Ed Bangsund

WEBSITE:  Robert Steiner

FACILITIES:  Bill McLaughlin

ARCHITECTURAL:  Frank Wisdom

PRESIDENT’S REPORT:  Jack Ottini

MEETING ADJOURNED:  9:45 p.m.

Minutes prepared by Cheryl Havener