Board Meeting no. (20/2021) on December 30, 2021

The Board of Directors held its meeting no. (20) for the year 2021 on Thursday, December 30, 2021 at 3:30 pm at the headquarters of the Riffa Views Company, and issued its decisions according to the items below:

1- Approval of Minutes of Meeting No. (19) of 2021 Held on December 5, 2021:

The Board approved the minutes of the previous meeting.

2- Remarks and Issues Raised by Owners:

The Board reviewed several concerns and issues raised by residents, all related to the presence of stray dogs in the Riffa Views neighborhoods, as well as complaints from residents regarding the disturbance caused by dogs in certain units. After discussion, the Board decided the following:

- Task the Association Manager with sending a circular to residents encouraging them not to feed stray dogs.

- Task the Association Manager with following up on all resident complaints, responding to them, and communicating with the units harboring dogs that are causing a disturbance, and providing them with the regulations for keeping dogs in the units.

The Board also reviewed complaints from several units in the Golf Village (GV) area regarding the disturbance caused by some units due to the high number of visitors and the loud noises coming from these units. The Board decided to task the Association Manager with following up on these complaints, sending notifications to the units causing the disturbance, and providing them with the relevant regulations.

3- Riffa Views Master Plan (MP) and Master Transfer Agreement (MTA):

The Board reviewed the correspondence between the Association Board, the developer, and the Steering Committee regarding the Term Sheet and the amendments to the Master Transfer Agreement (MTA). After discussion, the Board decided to task the Association Manager with finalizing all necessary arrangements for signing the agreed-upon draft.

4- Tender for Association Manager Services:

The Board, without the presence of the Association Manager, reviewed the preliminary report on the tender for Association Manager services. The Board decided to continue the discussion on this item at the next meeting.

5- Audited Financial Report for 2020:

The Treasurer reported that the comments and amendments on the draft audited financial report for the fiscal year ending December 31, 2020, had been completed. The Treasurer noted that a meeting was held with the audit firm on December 22, 2021, attended by several Board members and the Association Manager.

After discussion and confirming that all amendments and comments on the draft report had been addressed, the Board decided the following:

- Approve the signing of the draft audited financial report for the fiscal year ending December 31, 2020, and task the Association Manager with sending the draft to the auditor for approval and issuance of the final report.

- Task the Secretary and the Association Manager with approving this document for presentation at the next General Assembly meeting for voting by the Association members.

6- Audited Financial Report for 2021:

The Board discussed the procedures to be followed for preparing the audited financial report for the fiscal year ending December 31, 2021. The Treasurer noted that the current auditor, Ernst & Young, had submitted an audit fee proposal of 2,500 Bahraini Dinars (excluding VAT). After discussion, the Board decided the following:

- Resolution (1/20/2021): Approve the appointment of Ernst & Young as the auditor for the Association's accounts for the fiscal year ending December 31, 2021.

7- Provisional Budget for 2022:

The Board reviewed the draft provisional budget for 2022 submitted by the Association Manager. After discussion, the Board decided the following:

- Task the Treasurer with reviewing the 2022 provisional budget with the Association Manager and providing any comments to the Board.

- Task the Association Manager with issuing service charge invoices to the units for the first quarter of 2022, calculating the service charge at a rate of 3.2 Bahraini Dinars.

- Task the Secretary and the Association Manager with including the provisional budget – once finalized – as part of the documents for the next General Assembly meeting, for presentation and approval.

8- Riffa Views Day Out Events:

The Association Manager reported that, due to the move to the yellow level on the coronavirus spread signal and the health requirements it entails, the weekly Day Out events have been suspended until further notice, following approval from the Board. The Association Manager also stated that a circular will be sent to residents regarding this matter.

9- Entrance Gate Development Works:

The Board reviewed the Association Manager's report on the construction work planned for expanding the vehicle entry lanes at Lakes Gate (Gate No. 2), which is expected to start on January 2, 2022, and be completed by February 10, 2022. After discussion, the Board decided to task the Association Manager with informing residents about this matter through a circular.

The Board also discussed the projects required to complete all infrastructure works and finish the gardens in Riffa Views. The Board decided the following:

- Resolution (2/20/2021): Form a subcommittee named the "Development Projects Subcommittee" chaired by Board Member Engineer Reem Akbari, with the membership of the Secretary, the Treasurer, and a representative from the Association Manager's company. The subcommittee aims to review all development projects that need to be completed in Riffa Views and provide periodic reports to the Board.

- Task the Association Manager with preparing a schedule of all remaining development projects, including their estimated costs, and presenting it to the Board at a later meeting.

10- Subcommittee Report on Organizing the General Assembly Meeting:

The Board decided to postpone the discussion of this item until all reports and documents required for the General Assembly meeting are completed.

11- Disbursement of Board Members' Bonuses for the Second Half of 2021:

The Board discussed the procedures for disbursing bonuses to Board members as per the Association's bylaws. The Board also reviewed the attendance report of Board members at regular meetings held during the second half of 2021.

12- Any Other Business:

The Board did not discuss any topics under this item.

At the conclusion of the meeting, and with the end of the calendar year, the Chairman commended the efforts of all Board members in managing the Association's affairs and reviewing all topics discussed by the Board in its meetings throughout the past year, which totaled (20) meetings. The Chairman also conveyed the Board's thanks and appreciation to all those at RV Real Estate (Association Manager) for their work and support of the Board. The Board also praised the work and tasks performed by all service providers in Riffa Views, including companies, institutions, and individuals.

The meeting concluded at 6:15 PM.