MINUTES OF THE ANNUAL MEETING OF OREGON WASHINGTON COMMUNITY ASSOCIATION MANAGERS HELD JUNE 15, 2004 AT 11:30 A.M. IN THE MEETING ROOM AT THE HOLIDAY INN, 1441 NE 2^ndAVENUE, PORTLAND, OREGON.

PRESENT: Cheryl Brendle, President

Ron Balash, Vice-Chairman

George Carter, Treasurer

Diane Wood, Secretary

Marshall Fant, Past President

Rich Thompson, Affiliate

Members as indicated on sign-in sheet and guests.

I. CALL TO ORDER The meeting was called to order at 11:30 a.m. by President Brendle.

II. PROOF OF NOTICE OF MEETING OR WAIVER OF NOTICE President Brendle certified that the notice of the meeting had been emailed to all members of record on May 31, 2004.

III. READING OF THE MINUTES OF THE PRECEDING MEETING Kaye Youngren made a motion, Denise Bower seconded it and it unanimously carried to approve the minutes from the June 10, 2003 First Annual Meeting as distributed.

IV. ANNUAL FINANCIAL REPORT Treasurer George Carter reported on the financial state of the organization for the 2003 year end and projected 2004 year as follows:

$10,600 in operating account
$16,656 total income for 2003
$6,842 total expense for 2003
$45,000 anticipated ending reserve fund balance for 2004
$34,490 anticipated expenses for 2004

V. REPORTS OF OFFICERS

VI. PRESIDENTS REPORT – CHERYL BRENDLE President Brendle reported on the goals and accomplishments of OWCAM for 2003/2004 as follows:

Improved communication and partnerships with members
Board met and established goals for the year
Membership consisted of 82 Managers and 37 Affiliates
D & O coverage was purchased
501(c)(6) Designation was under review
Member Programs included forensic architects, insurance brokers and attorneys.

VII. PROGRAMMING – RON BALASH Ron Balash reported the goal of OWCAM was to educate and prepare members for the growing demand of management services created by the fast paced housing development occurring in Portland.

VIII. VISA CID CASH – MARSHALL FANT Marshall Fant reported the trend for business is to offer more technology based features. Through OWCAM’s membership in the “VISA CID CASH” program, managers are can join the program and have available to them an electronic payment program to pay vendors that features a better control of funds, timely payments, fraud control, payment protection, etc. Detailed information will be made available at a future member meeting.

IX. EXPO 2004– RICH THOMPSON Rich Thompson reported the EXPO held in January was a great success and another will be held in the upcoming year. OWCAM plans to work with CAI and the Condo Working Group on legislation.

X. ETHICS, STANDARDS AND PRACTICES – GEORGE CARTER George Carter reported the Ethics Standards and Practices had been written and adopted and a certification program for members is in progess.

XI. ELECTION OF INSPECTOR OF ELECTIONS Mike Helsing and Alan Crandall were appointed as the Inspector of Elections to assist in tabulating ballots.

XII. ELECTION OF DIRECTORS President Brendle reported two 2-year terms are available on the Board of Directors. Jim Main, Steve Brodehl, Ron Balash and Diane Wood were nominated and accepted the nominations. The nominations were opened to the floor. There being no nominations from the floor, nominations were closed. Ron Balash and Steve Brodehl were elected to serve 2-year terms on the Board of Directors.

XIII. ADJOURNMENT There being no further business, the meeting was adjourned.

Submitted By: Diane Wood, Secretary

I. CALL TO ORDER The meeting was called to order at 11:30 a.m. by President Brendle.

II. PROOF OF NOTICE OF MEETING OR WAIVER OF NOTICE President Brendle certified that the notice of the meeting had been emailed to all members of record on May 31, 2004.

III. READING OF THE MINUTES OF THE PRECEDING MEETING Kaye Youngren made a motion, Denise Bower seconded it and it unanimously carried to approve the minutes from the June 10, 2003 First Annual Meeting as distributed.

IV. ANNUAL FINANCIAL REPORT Treasurer George Carter reported on the financial state of the organization for the 2003 year end and projected 2004 year as follows:

$10,600 in operating account

$16,656 total income for 2003

$6,842 total expense for 2003

$45,000 anticipated ending reserve fund balance for 2004

$34,490 anticipated expenses for 2004

V. REPORTS OF OFFICERS

VI. PRESIDENTS REPORT – CHERYL BRENDLE President Brendle reported on the goals and accomplishments of OWCAM for 2003/2004 as follows:

Improved communication and partnerships with members

Board met and established goals for the year

Membership consisted of 82 Managers and 37 Affiliates

D & O coverage was purchased

501(c)(6) Designation was under review

Member Programs included forensic architects, insurance brokers and attorneys.

IX. EXPO 2004– RICH THOMPSON Rich Thompson reported the EXPO held in January was a great success and another will be held in the upcoming year. OWCAM plans to work with CAI and the Condo Working Group on legislation.

X. ETHICS, STANDARDS AND PRACTICES – GEORGE CARTER George Carter reported the Ethics Standards and Practices had been written and adopted and a certification program for members is in progess.

XI. ELECTION OF INSPECTOR OF ELECTIONS Mike Helsing and Alan Crandall were appointed as the Inspector of Elections to assist in tabulating ballots.

XIII. ADJOURNMENT There being no further business, the meeting was adjourned.