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Garrett’s Run Condominium Association
Minutes of the Board of Directors’ Meeting
Wedsday, May 17, 2017

Call to Order: The meeting was called to order at 6:30 p.m. in the clubhouse.

Guest speaker, insurance agent Josh Ranew, stated the current insurer, American Coastal, has the best rates for renewal this year. He asked many carriers for quotes, but Am Coast bid $64,206, down by $925.90 over last year, plus for that price, a lower hurricane deductible. All Board members agreed this sounded good, and policies must be signed and bound before June 3rd. Treasurer Rosemary will sign all the forms and get them back to Josh. Management will write the check for the down payment.

Establishment of a Quorum of Directors: Board members present: Directors Paul Crow, Cheryl Shaton & Robin Katanski, and Treasurer Rosemary Gleason. Attending by speakerphone: President Peter Engel, Secretary Angelo Laviano and VP Kathleen Fassler. Also present was Michelle Davis of Reconcilable Differences and approximately 14 residents.

Approval of Minutes: Peter moved to approve the minutes from the April 24th board meeting. Paul seconded, all in favor.  

Financial Report: Rosemary reported that as of April 30, 2017, the Operating account at Sunrise Bank shows a balance of $76,398 after deducting $16,808 in prepaid owner funds. There is $251,678 in the reserve accounts for future repairs. Accounts receivable is at $9,854. The largest of that is from unit 802 which is with the collection agency. We are currently $19,942 under budget for the year.

2016 CPA Review: Michelle Davis stated that an owner has filed a complaint with the DBPR – The state Division of Business & Professional Regulations – regarding the CPA review not having been ready within the 120 day requirement of FS 718. There are two issues: This is the first year that Bill Jackson has been used by the association, and last year Garrett’s Run sold a unit for profit, and took out a large loan for repairs. His employees spent much more time on the review than initially expected, so his price was $7,000 instead of the agreed $1,450. He gave a large credit, but is still $1,550 more than budgeted. He will not release the final review without payment, so treasurer Rosemary will call to discuss this with him. Until then, we do not have a completed review, and it was due May 1st. Manager agreed to mail a newsletter to all owners, notifying them of their ability to obtain a free copy of the review, as required by FL Statute. We hope to receive the final report before any owners request their copy. The newsletter will be posted onsite and online as well.

Unfinished Business A. Update on acquisition of a new treadmill for the gym
Peter stated there are 3 ways to deal with the damaged treadmill. 1. Repair the broken part and hope it works 2. Investigate and contract with a local business who sells used treadmills 3. Buy a new one. A new one costs $2K to $3K. Play It Again Sports are considering renting commercial grade equipment for $100.00 a month. This would include servicing the item and any problems being fixed at no extra charge. Peter will research this more and get more quotes on new and used equipment.

B. New Management Contract has been signed with First Service Residential, commencing on June 1, 2017.
The Board interviewed local management companies and chose FSR. They have said they cannot begin service on June 1st, however. They have asked to begin July 1st. Reconcilable Differences was asked tonight if they would be willing to have Angel man the office for the two days per week the board requested, and to handle all receivables and payables until June 30th. Michelle agreed.

New Business A. Arrange a “Meet & Greet” with FSR personnel.
Paul recommended asking new manager what days and times they have available before setting a meeting. Some asked for a Saturday meeting. Peter stated that notice will be posted when the date is decided.

B. Recreational Vehicle Lot Update on issues
Paul stated that he spoke to the association’s attorney and the current by-laws and rules do not specifically prohibit nor deny enclosed trailers. The attorney also stated that it is legal to park the trailers there if they are abiding by the rules, such as tags being up to date. If the board wanted to deny these “work trailers”, owners would have to vote on an amendment change, and must obtain 30% positive votes. If the documents are amended, those owners currently storing trailers would have to be “grandfathered in” and allowed to stay. Audience members believed the RV with no tires is in violation and should be removed or have tires. A letter will be sent.

7. Set Next Meeting 
The Board Meetings will be set on a consistent basis throughout the year, except for the months of July and August. Future meetings will be decided upon with the new management company.  

8.Adjournment 
There being no further business to transact, the meeting adjourned at 7:50 pm. Peter made the motion, Angelo seconded, all in favor.

Respectfully submitted,

Michelle Davis, CAM, AMS, CMCA
Reconcilable Differences, Inc.