(May 26, 2016) A lack of a quorum abbreviated the May 18 meeting of the Ocean Pines Association Budget and Finance Committee, although virtually all of the items on the agenda were discussed.
Only two of the seven members — Pat Supik and Jim Beisler — could attend the morning meeting in the administration building. Board liaison Tom Terry, Controller Art Carmine and former director Marty Clarke also attended.
Carmine said no preliminary report on the April financial performance of the association was available, although he did give a brief, informal presentation on OPA’s investment strategies, which consists primarily of short-term investments.
Those who did come to the meeting mulled investing in longer-term CDARS, or Certificate of Deposit Account Registry Service accounts, although no formal vote or recommendation could be made without a quorum.
Terry, who was scheduled to give an update on the association’s reserve study, said there was no new news.
The budget and finance committee is scheduled to meet again on Wednesday, June 15 at 9 a.m. in the administration building.
Only two of the seven members — Pat Supik and Jim Beisler — could attend the morning meeting in the administration building. Board liaison Tom Terry, Controller Art Carmine and former director Marty Clarke also attended.
Carmine said no preliminary report on the April financial performance of the association was available, although he did give a brief, informal presentation on OPA’s investment strategies, which consists primarily of short-term investments.
Those who did come to the meeting mulled investing in longer-term CDARS, or Certificate of Deposit Account Registry Service accounts, although no formal vote or recommendation could be made without a quorum.
Terry, who was scheduled to give an update on the association’s reserve study, said there was no new news.
The budget and finance committee is scheduled to meet again on Wednesday, June 15 at 9 a.m. in the administration building.