Board Meeting Mar. 17, 2010

• March 17, 2010

SAN ANTONIO VILLAGE BOARD MEETING
MINUTES FOR MARCH 17, 2010

President Dawn Lucian called the March 17, 2010 meeting of the San Antonio Village Owners
Association to order at 7:30pm.  Present were Board Members Bettina Johnson, Peter Sturken, Lynn
Nichols and Carey Rogers; SAV Manager, Karel de Veer; and twelve homeowners.

1. The minutes for the meeting of February 17, 2010,were approved.

2. Manager Karel de Veer gave the financial report for February 2010 and year to date.  For February,
our budgeted income is at 100.5% and budgeted expenses are at 96.6%. For year to date our income is at
100.4% and expenses are at 99%.

3. Manager Karel de Veer presented the fiscal year operating budget and reserve study for the period
beginning July 1, 2010.  The new budget is based upon a monthly assessment fee of $330 for each
homeowner. Besides the increases in costs such as gardeners’ salaries and pest control, we are increasing
our annual contribution to the reserve fund from $1500 to $5000.

Last year we had three major non-budgeted items; $26,000 for the pool safety repairs mandated by state
law, $28,000 for the back flow devices required by the Goleta Water District, $24,000 for State Farm
increased premium to cover the replacement costs of our buildings.  We took the money for these items
out of our reserve funding instead of requiring a special assessment from homeowners.

The number of units requiring termite tenting has more than doubled during the past year – from about
two to four or five – and the cost of tenting each unit has also increased.

We kept three gardeners though the winter after Armando Franco returned in December 2009 so that we
now have three experienced gardeners. Because our Myoporum hedges have been continuously attacked
by thrips and white flies and it has become impossible to control the infestation, we are taking them all
out and will be replacing them with Xylosma hedges, which are pest-resistant

We received one letter of objection to the increase in fees; and some of the homeowners present at the
meeting had questions about the budget and expressed objections to the increase.

The Board will vote next month on the new budget and fees.

The meeting was adjourned at 8:15 p.m.

Respectfully submitted,

Carey Rogers, Board Secretary