January 24, 2023
WOODMILL TRACE HOA MEETING
AT CADENCE BANK
Board Members Present
• Ronny Marino, Jr.
• Jennifer Triolo
• Anise Black
Meeting brought to order at 3:05pm.
All 3 board members met at Cadence Bank with Shannon Lusk.
President Ronny Marino brought checks written out to LPL Financial ($37,952.94) and Woodmill Trace ($37,931.20).
Changed mailing address from 7311 Mill House Walk to Executive Real Estate Management (EREM), 3313 Memorial Parkway SW, Suite 127, Huntsville, AL 35801. All financial statements will now go to EREM. Also provided EREM’s email address (manager@erecinc.com) and phone number (256-880-1000) so that all communication regarding our finances goes through them.
Each board member provided personal information to be added to Cadence accounts and signed signatures to appropriate documentation to be added to accounts.
Removed previous management company, Elite Housing Management personnel off of the accounts and added EREM’s personnel to account.
Discussed CDs and rates (corporate versus personal).
Transferred $85K total (from checks Ronny brought in totaling $75,884.14, operating account funds ($8,547.50), and some money taken from the Reserve account) into a CD (FDIC insured, Term: 1 year, rate: 4.65%, Manufacturers and Traders Trust Company Bank, not-callable, matures on 1/31/24.
There are two more CDs that mature in 3 and 6 months at ~$37K each.
All board members signed off on purchase for CD.
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Meeting was adjourned at 4:07 pm by President, Ronny Marino, Jr.
Respectfully submitted by,
Jennifer Triolo, Secretary