1. Call to Order:
The Lansbrook Master Association (LMA) Board of Directors meeting was called to order by President Doug Gates at 7:00 PM in Steffke Hall of the Lutheran Church of the Resurrection, 1555 Windmill Pointe Road, Palm Harbor. Other directors present were Vicky Benedon, John Brunton Jr., Doug Jacke, Jack Speckman and Bill Showalter. Absent, director Gary Gilchrist. A quorum was established. Also present were Barbara Mathews of The Melrose Management Group, Stu Hazard, LMA Maintenance Supervisor and three delegates/homeowners.

2. Approval of Minutes:
The minutes from the meeting of August 19, 2002 were approved as presented.

3. Financial Report:
Treasurer Bill Showalter provided an overview of the LMA financial status as of the end of August, 2002.

4. Committee Reports:

A. Security - No activity

B. Parks: - No report

C. Maintenance Department: Stu Hazard presented a report outlining payroll allocations. Stu answered several questions from the Board Members concerning maintenance activities and operations. The subject of continuing vandalism in the parks and at the pump stations was discussed. When labor costs are added to the materials purchased for vandalism repair/replacement in 2002, the total cost is in excess of $10,000.00. The Board discussed presenting a graphic at the Annual Meeting regarding these costs. Other subjects discussed by Stu were projects slated for the coming six months, including brush trimming, painting, replacement of the Lakefront Park gate, general plant bed renovation and a possible vehicle purchase in 2003.

5. Business Items:

A. Motion was made by Bill Showalter to increase LMA's General Liability and D&O Insurance from $1 million each to $2 million each, at a total additional annual premium of $212.00. Motion seconded by Vicky Benedon and approved by unanimous consent.

B. Treasurer Showalter raised the issue of establishing a Capital Improvement Reserve and explained the concept of such a reserve fund. It was agreed by the board members to defer discussion on this issue until the October meeting.

C. The proposed 2003 budget was presented by Bill Showalter and reviewed by the Board. Upon motion by Jack Brunton and second by Vicky Benedon, the budget was approved as presented by unanimous consent. The 2003 annual fee per lot will be $445.00, a 3.1% increase from 2002.

D. A request from HOA Publications, which publishes the News and Views quarterly, for permission to utilize the Lansbrook registered name. After discussion, the board agreed that it would most likely approve this request, but requested that Barbara research through the Association's attorney what the property method for giving this approval is.

E. Treasurer Showalter informed the Board that the $100,000.00 Certificate of Deposit currently held in SouthTrust Bank was maturing on November 14, 2002. He recommended that we reduce the amount of this CD to $75,000.00 and deposit the remaining funds in another interest-bearing account. Motion seconded by Jack Speckman and approved by unanimous consent.

6. Member Questions/Input:

1. The representative present from President's Landing voiced his objection to the 3.1% increase in LMA dues.