BANYAN SPRINGS PROPERTY OWNERS ASSOCIATION

The beginning Reserve Balance as of December 1, 2011 was $261,718.69.After additions, the Current reserves as of December 21, 2011 were $261,815.29. Operating account to date is $138,863.03 which is more than enough to take care of our needs to the end of the year.

Mel Teitzman made a motion to accept the Treasurer’s Report as read, seconded by Harry Sassower and passed unanimously.

Committee Reports:

Welcoming Committee – Barbara Nevins, Chairperson

Barbara advised that on January 15^th at 11:00 A.M. , in the Banyan Room, they will be having coffee and cake to welcome and inform all new Owners and Renters about the many amenities, clubs and activities available at Banyan. Anyone living here over one year is not considered a “new” owner or renter.

Managements Update

In the absence of Mr. Leach from Management, Mr. Dow gave a brief update on a water leak that occurred in the Fitness Center . The leak was a result of a broken hose originating in the Salon which made its way into the Fitness Center leaving a flood of water halfway through the Center. The flood was discovered by Jay and Sheila Goldstein who contacted Mr. Dow. Upon this discovery, Mr. Dow contacted Rick Leach for guidance as to which company should be contacted to resolve the problem. The restoration Company was brought in and they resolved the situation by vacuuming and blow drying the carpeting without any damage to the Fitness Center . The Center was closed for two days. Bob thanked Jay and Sheila for their help and assistance.

Presidents Update: - Barry Prince

Barry mentioned how important it is for everyone to submit the blue Proxy form that was mailed along with the ballot sheet for the upcoming election this January 18^th. He explained that we must obtain a quorum in order to open the meeting in the morning and proceed with the election. You need not be there in person but you must submit the Proxy.

Barry also addressed the procedure that should be followed if and when an individual falls or is hurt. Under no circumstances should you pick up or move the person on your own. Do not try to bring them home or drive them to the hospital as you could actually do them more harm than good. Unless you are trained to handle these circumstances, you should immediately call 911 if the person appears injured, hurt or in physical distress. The Paramedics will come within minutes of your 911 call and they will handle the situation as required.

Old Business:

There were several motions made and voted upon since our last General Meeting of Nov 16, 2011 . The following is a synopsis of these motions:

v December 1, 2011 - A motion was made to by Joel Brusso to take possession of the Villa at 5031 Pine Drive by accepting a Quit Claim Deed to the property. The motion was seconded by Harry Sassower and passed unanimously.

v December 1, 2011 - A motion was made by Harry Sassower to accept a proposal from S.P.M, Inc. for the renovation of the men’s and lady’s bathrooms and rear shower area at Poolside. The cost of renovations is not to exceed $20,000.00. Larry Granet requested the Motion be amended to include in the proposal that all changes be brought up to Code. The Motion was seconded by Bob Dow and passed unanimously.

v December 12, 2011 - A motion was made by Joel Brusso to accept the 2012 Proposed Budget as submitted. The Motion was seconded by Bob Dow and passed unanimously by the Board Members present.

A more complete and detailed copy of these Motions is attached.

New Business

This was Meet the Candidates night. There are three positions open for the Board of Directors in this year’s election. The three incumbents and four new candidates are on the ballot. Each of the candidates, with the exception of Mr. Whitlock, appeared before the Association Members and introduced themselves, their positions and presented their case to the Association.

Suggestion Box

None

There was some discussion on several matters by Association Members.

· Irwin Rifken addressed the Association Members and said that he believed that there are some misconceptions amongst Owners with regard to the expenses paid to the P.O.A. and the various Associations by Villa Owners as compared to Condo Owners.

· A suggestion was made with regard to the possibility of looking into Solar Panels for our energy needs in the Community. Barry Prince stated that this matter has been looked into in the past and we have received some pricing. Right now, budget constraints prohibit us from taking any immediate action but that the matter will be revisited in the future.

Larry Granet made a motion to adjourn the meeting at 8:33 P.M. Seconded by Joel Brusso and passed unanimously.

Respectfully submitted

Anthony Scorsese

Secretary