Directors in attendance were Nikos Salmatanis, George Hixson, Delnor Neufeld and Chris Gallagher. Representing Crest Management were Michael Barrera and Renee Oliver

The meeting was called to order at 7:15 PM by Nikos Salmatanis, President. A quorum was not established with 21 lots being represented either in person or by proxy.

Each of the Board Members introduced themselves and informed the members of their responsibilities as Board Members.

The owners reviewed the minutes from the 2011 Annual Meeting. A motion was made from the floor, seconded and carried to approve the minutes as amended.

Mr. Salmatanis provided community updates that included discussion regarding the budget process, contract negotiations which resulted in lower expenses for the Association, capital improvements and repairs of the pool, repair of the marquee sign and a flower bed due to vehicle accidents, and tree trimming.

Mr. Barrera presented the 2011 year-end financial report. The owners were advised that the cash on hand as of December 31, 2011 was 121,718.38. There was $41,787.25 in Capital Reserves, and $42,427.89 in Non-Capital Reserves. There was $10,025.73 in accounts receivables.

Mr. Gallagher presented the owners with the 2012 approved budget along with visual graphics showing owners where their assessments were spent. Mr. Hixson also presented the owners with the capital item reserve summary.

George Hixson thanked each of the committee volunteers for their time and effort over the past year. He also awarded the Marquee ladies and Del Neufeld for their service to Wortham Grove and to Kimberla Lawson for organizing and running the July 4^th parade and pool party.

Pool Committee Mr. Neufeld discussed the Pool season for 2011. He noted that the pool usage was increased due to more residents staying in town for the summer. New pool furniture had been purchased. The lifeguards were the greatest theyve had.

Landscape Mr. Tim Shaw gave a brief update about the Associations landscaping. He advised that he feels that there has been a marked improvement in IMSs performance with the hiring of a new supervisor. He also went into the details of keeping the common grounds looking green due to water conservation restrictions during the drought.

Due to not having a quorum, the election was not held and will be done at the next recall meeting date to be determined by board.

-Sign down on corner of Durbridge Ct.;

-Trash can needed by playground;

-Recycling bins needed at pool area;

-Rocks or Speed bumps to protect playground area.

There being no further business to come before the Board of Directors, a motion was made from the floor, seconded and carried to adjourn the meeting at 8:05.p.m.