MVF Board elects 2026 officers at March meeting

At the Montgomery Village Foundation (MVF) Board of Directors meeting held on March 26, the Board elected Susan Prince as President and Dan Anderson as Vice President for 2026–2027. The regular business meeting preceded the Annual Meeting, which highlighted service in the community.

Both Prince and Anderson will continue to serve on the Executive Committee. Doniele Ayres was re-elected as the third/voting member, and Brandon Coffee-Borden was elected as alternate for the committee.

Following the 2026 MVF Board of Directors election results, Brandon Coffee-Borden, Jack Guiragossian and Dan Anderson were installed as Directors and will serve from 2026 through 2029. Watkins Mill High School junior Saba Berhe was also installed to serve as the 2026 Student Representative on the MVF Board of Directors.

Other Agenda Items
The Board accepted the 2025 Financial Statement audit. In presenting the audit from Lydon Fetterolf Corydon, MVF Chief Financial Officer Daniel Salazar noted that for the year ended December 31, 2025, MVF’s Net Income was $2,465,801 compared to a budget of $596,774. The Operating Fund, for which the majority of MVF business activity takes place, finished the year with a decrease of $66,484 compared to $41,972 in 2024. Net Income for the Operating Fund for 2025 exceeded budget expectations by $267,081 versus $272,028 in 2024. Salazar said it was a clean audit, there were no adjustments proposed by the auditors, and MVF encountered no issues during testing; MVF received an unmodified opinion and a favorable review of internal control procedures.

Salazar reported that as discussed at the February 2026 Board meeting, MVF identified that electricity supply accounts were temporarily billed at market rates during January and February 2026 after the prior rate-lock agreement expired and before the replacement agreement was executed. This two-month period also coincided with extreme winter weather, which contributed to elevated electricity supply costs. As a result, streetlight charges allocated to the Homes Corporations during this period were higher than they would have been under a rate-locked agreement.

He added that in light of these circumstances and to mitigate the impact to the homes corporations while staff negotiates any relief available from the broker and/or supplier, MVF staff recommended issuing streetlight billing credits to each association for costs incurred during January and February 2026. The Board authorized the credits the affected associations (approximately $12,627 in total) funded through Undesignated Operating Reserves included in the 2026 budget.

The Board asked that the action item “Consider an Update to the Operating Disbursement Policy” be tabled until the April 23, 2026 Board Meeting so they could consider and discuss additional changes to the expense and approval threshold policy.

The Board reappointed Claire Conlon, David Cline, and Sharon Levine to the Scholarship Committee, with Conlon continuing service as Chair. This committee decides which Village youth receive educational scholarships based on the donations contributed by the community.

Recreation and Parks Director Duncan Mullis reported that the North Creek pickleball and soccer court are in need of repair to rectify dead spots and cracking that have impacted playability. He added that the project will take 4 to 6 weeks for the pickleball courts and 1 to 2 weeks for the soccer court, with plans to start the project in early August. The Board awarded the contract to renovate the pickleball and soccer courts at North Creek Community Center to Keystone Sports Construction at a cost of $92,437.98 with an additional 10% authorized for unforeseen circumstances.

Mullis reported that it has been staff’s objective for the last several years to update the North Creek Board Room with two goals in mind: (1) to refresh the outdated room with new carpet tile, blinds and wall paint, as well as to demolish the outdated cabinetry and dispose of outdated furniture; and (2) to create a more versatile space since demand for North Creek has increased with greater camp and class needs. The Board authorized the updates to the North Creek Board Room.

The contract for pool chemicals for 2026 was awarded to Amato Industries, Inc., not to exceed $70,000. Amato has been the trusted supplier of chemicals for MVF pools for more than 15 years and remains the only supplier in the region capable of delivering all required materials in the necessary quantities.

A three-year contract in the amount of $46,800 was awarded to Jiffy John for portable bathroom services at MVF parks.

EVP Report
Executive Vice President Mike Conroy noted that Senator Nancy King had informed him that an additional $256,000 in state bond funding had been acquired to finish all of the Theater Pond renovations, including planting the new trees as mentioned in the previous update. He added that Senator King is hopeful that an additional bond will be available to update the playground at the park.

Regarding Theater Pond, Conroy added that MVF has received all approved permits, and pending a meeting with the contractor and engineer, work should be slated to begin in the June timeframe. This means that equipment will be staged in the area typically used for accessible parking for Lawn Theater concerts, and staff is arranging alternate access plans for events, similar to those used when the dam work was performed several years ago.

Lastly, Conroy informed the Board and residents in the audience that the MV 60^th Anniversary Memory Wall is accessible on the MV website, either via the slider on the homepage or the “60^th Anniversary” tab from the “Events” menu. He encouraged Board members and residents in the audience to visit, read and share memories, photos and videos of their time living in the Village; all memories from the last 60 years are welcome.

Treasurer’s Report
MVF CFO Salazar presented the Treasurer’s Report and unaudited estimates for the month ending February 28, 2026. Salazar reported that overall, all MVF funds were ahead of budget projections by approximately $523,000, driven by higher Revenues from Investment Income ($319,000), Camps and Classes ($72,000), Capital Contributions Fee ($47,000), and Pool Membership/Facility Rentals ($23,000), as well as lower Personnel and Operating Costs by about $13,000 and $5,000, respectively. He noted total Revenue was $2,292,875 and Operating Expenses were $1,663,099 through February; both were favorable to the budget.

He said the Balance Sheet continues to reflect MVF’s strong financial position having $15.1 million held in Cash and Investments. MVF continues to hold more than $3.2 million in Undesignated Reserves. The Delinquency Rate for February was reported at 14.1% (1,196 units), which is a small 0.2 percentage-point increase from February 2025’s rate of 13.9% (1,182 units). The current rate is 1.7% above the 10-year February average of 12.4% but remains generally in line with historical trends for this time of year.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, April 23 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.