Shelter Bay Community, Inc.

TELLER’S REPORT

(Grand Tally)

ANNUAL ELECTION RESULTS of May 3, 2008

# Total Members Voting             = 467

Board Candidates:
            Larry Kibbee                                Total Votes =            355            Elected
            Donald M. Moore                          Total Votes =            308            Elected
            Ken Olsen (withdrew)                    Total Votes =            217            Withdrew
            Judi Slajer                                   Total Votes =            321            Elected
Issue No. 1
        Adopt Annual Meeting Minutes of 5/5/07      Yes = 430       No = 15          Adopted
        (simple majority req’d)
Issue No. 2
        Adopt Special Meeting Minutes of 2/11/08     Yes = 429      No = 17          Adopted
        (simple majority req’d)
Issue No. 3
        Amend Articles of Incorporation                  Yes = 360       No = 28         Amended
        (2/3rds of Eligible members required = 308 votes)
Issue No. 4
        Ratify FY 08-09 Budget                         Ratify = 407        Reject = 47     Ratified
        Assessment (429 votes req’d to reject)

SPECIAL ELECTION RESULTS of May 3, 2008

# Total Members Voting             = 542
                                                                                                                                   
Issue S-1
        Pay or Not Pay                                    Yes = 505             No = 36             Adopted
        (simple majority req’d)
Issue S-2
        Amend FY 07-08 Budget for Back Rent    Ratify = 495          Reject = 42        Ratified
        Assessment (429 votes req’d to reject)
Issue S-3
        Amend FY 08-09 Budget for Future Rent   Ratify = 481         Reject = 50        Ratified
        Assessment (429 votes req’d to reject)

General Requirements:
Absolute Total No. of Votes in the Association             = 857
Total Eligible to Vote (members in good standing)       = 804
20% of Members Eligible is the Quorum                    = 161
Required to Reject Budget/Amendment                     = 429


 
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