MVF Board approves volunteer members to newly re-established TD&PF Committee

At its June 26 Board of Directors meeting, the Board appointed four volunteer residents to the recently re-established Transportation, Development, and Public Facilities (TD&PF) Committee with the general scope of keeping a pulse on area projects that impact Montgomery Village and providing insight and proposed positions to the Board.

Those residents who have volunteered for service on the TD&PF Committee are Charles Arian, Tim Goodfellow, Ed Lyons and Edna Miller. The committee will also include two Board liaisons, Susan Prince and Dick Rabil, and the MVF staff representative will be newly hired MVF General Counsel, Adam Polsky.

Other Agenda Items
The Board also appointed Amynah Mithani to the Audit Committee. The committee advises the Board on financial matters; reviews and recommends the annual operating budget and audit; as well as recommends an accounting firm to perform the annual audit of MVF’s books, accounts and records.

The Board also adopted a Resolution that appoints MVF General Counsel Adam Polsky as Corporate Secretary, effective July 1, 2025.

President’s Remarks
President Ayres thanked MVF Legal Counsel Christopher Hitchens for his service to the community and congratulated him on his retirement, saying that he will be missed.

EVP Report
EVP Mike Conroy said he was looking forward to the upcoming July 4^th Celebration and seeing as many Board directors as possible on the trolley throwing candy during the Parade. He also mentioned that the Board Strategic Retreat on June 7 fostered great conversation and ideas that will be turned into strategic goals for the 2026 Budget.

He noted the recent Site Plan Amendment hearing for Bloom Village focused on updated timing to finish construction and bringing the community gardens to Humpton Park. Other amendments included modification to the width of the shared use path near Nature Trail, and added paths back to the plan in Areas 1 and 6.

Conroy highlighted Director of Recreation and Parks Duncan Mullis’ recent graduation from the LeadershipMontgomery CORE Program and congratulated him on this tremendous achievement and his hard work over nine months of meetings, presentations and networking with other leaders in the county. He also reported that Adam Polsky had been hired as MVF’s new General Counsel. Polsky brings 25 years of experience as an attorney, including handling settlements and collections, as well as a private business owner.

Conroy then thanked Christopher Hitchens for his 12 ½ years of service to the community. Hitchens said he was tremendously grateful for his time with MVF, and believed he was leaving the organization in good shape for the next person to assume the General Counsel role. He also thanked the MVF staff who were involved in vetting candidates, conducting interviews and filling the role.

Treasurer’s Report
CFO Daniel Salazar presented the Treasurer’s Report for the year-to-date (YTD) and month ending May 31, 2025, reporting that overall, all MVF funds were favorable to the budget. Net Income was reported favorable by about $622,000, predominantly due to Revenues from Investments ($172,000), Camps and Classes ($129,000), Grant Revenues ($153,000) and Pool Memberships/Rentals ($57,000) as well as lower Operating Costs by about $131,000.

Salazar noted Total Revenues were $4,944,105, which is 11% higher than the budget and 1.6% higher than actual Revenues for 2024. Total Operating Expenses were $3,733,460, which is 3.4% under

budget and 9.1% higher than in the same period last year. He said Capital Contribution Fees received through May were $102,903 versus $157,292 budgeted for 2025.

He said the Balance Sheet continues to reflect MVF’s strong financial position with $14.3 million of its $31.6 million assets held in Cash and Investments. MVF continues to hold close to $3.69 million in Undesignated Reserves. Assessment Receivables has seen a decrease of 6.1% compared to the previous year, and the Delinquency Rate for May was reported at 10.5% (893 units). MVF’s current Delinquency Rate is 0.1% lower than the 10-year average for the month of May (10.6%). Last year’s Delinquency Rate was lower at 9.8% (830 units).

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, July 24 via Zoom. Residents are invited to attend; full meeting details, the meeting packet and/or participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.