2006 Annual Meeting minutes
By request and since the link to the 2006 meeting minutes no longer works, here is the text of that meeting.
DRAFT
Multi Resort Ownership Plan, Inc. (MROP)
2006 Annual Meeting Minutes
DATE: Saturday, April 29, 2006
TIME: 11:00 a.m.
PLACE: Red Lion Hotel
161 W. 600 S.
SLC, UT 84101
Attending:
I. Welcome & Determination of Quorum
Chris Fonnesbeck, President, called the meeting to order at 11:04 a.m. There were 2,096 members represented in person or by proxy. The quorum requirement was 1,134 members (10% of total membership). A legal quorum was thus achieved.
II. Introductions
Chris Fonnesbeck introduced all of the MROP Board Members and ORE Staff members in attendance. He also welcomed all members in attendance.
III. Approval of Minutes from the 2005 Annual Meeting
The minutes from the 2005 Annual Meeting were reviewed.
Motion: Merle Andersen moved to approve the minutes from the 2005 Annual Meeting as written. Denise Thomas seconded. The motion passed unanimously.
IV. President’s Report
Chris Fonnesbeck spoke about the benefits of owning a MROP Membership by telling the Members stories about the fun things that his family has done and places his family has vacationed in the many years that they have owned their MROP weeks. He also reported on some of the new and exciting changes with MROP.
V. Managing Agent Report – ORE Terry Bricco reported that the merger with Resorts West has been completed and former Resorts West owners are beginning to use the MROP system. He also mentioned the renovations at Bonaparte’s Quarters, Puente Vista and See the Sea.
Colleen Freeman reported to the membership on the Growth and Expansion of MROP.
There will always be a 1:1 ratio in the Association. This means there will always be a week of use for each week sold.
The MROP board chooses to sell additional memberships and purchase additional inventory for the following reasons:
1) It allows owners to have new resorts to use.
2) It subsidizes the operating budget.
3) The Owners have 60 plus locations to use without the cost of External exchange companies.
4) In order to defray additional costs to ALL of the Owners, a “User” fee was initiated in a few high cost, high demand locations.
The Board only allows growth as long as it can recover the costs without any impact on the existing owners maintenance fees.
MROP is currently looking at resort properties in Maine and is currently adding locations in Southern California, Las Vegas and San Antonio, TX. Suggestions from owners for new locations are always welcome.
Colleen reported on the Snow Canyon Villas project in St. George as well as information regarding Wroman, the Master Broker of RCI Points and the interest the Owners have expressed in points programs over the past 3 years.
VI. Elections – Vote to fill 5 seats on the Board of Trustees
Gerald Thompson, Secretary/Treasurer, conducted the election. There were 5 trustees to be elected. Four incumbent trustees were seeking re*election: Chris Fonnesbeck, Bud Machin, Dave Racker and Gerald Thompson were up for election. In addition to the incumbents, the following 6 members declared candidacy for the Board: L.C. Thomas, Joe Wood, Nellie Christensen, Steven Christensen, and Norm Sammis. There were no nominations from the floor. All candidates in attendance were given a few minutes to speak.
Ballots were collected and votes tabulated by the ORE staff and member volunteers.
Gerald Thompson announced Chris Fonnesbeck, Bud Machin, Dave Racker, Gerald Thompson and Steven Christensen were elected to the board.
VII. Treasurer’s Report
A. 2005*2006 Budget & 9/30/05 Year End Audited
Brad Gillies, ORE Vice President of Finance, reviewed the 2005*2006 Budget as well as the 9/30/05 year end audited Financial Statement.
B. Financial Resolutions
Resolution 1: Resolution to ratify the 2005*2006 Fiscal Year Budget and authorize the funding of a Capital Reserve account in the amount of $200,000.
Motion: Leone Rogers moved to ratify the 2005*2006 Fiscal Year Budget and authorize the funding of a Capital Reserve account in the amount of $200,000. The motion was seconded by Sid Johnson. The motion passed unanimously.
Resolution 2: Resolution to designate the Board of Trustees as the Agent of the Owners in assessing, collecting, and allocating Capital Reserve funds.
Resolution 3: Resolution to ratify the 9/30/05 Fiscal Year End Financial Statement, and to ratify the actions and decisions of the Board of Trustees since the prior annual meeting.
Motion: Frank May moved to designate the Board of Trustees as the Agent of the Owners in assessing, collecting, and allocating Capital Reserve funds. He also moved to ratify the 9/30/05 Fiscal Year End Financial Statement, and to ratify the actions and decisions of the Board of Trustees since the prior annual meeting. Nancy Larsen seconded the motion. The motion passed unanimously.
VIII. New Business
Lyn Larsen gave a visual presentation on the new MROP website. She also demonstrated how to use the ORE website to make online reservations.
Owner questions were addressed.
IX. Adjourn
The meeting was adjourned at 2:55 p.m.