Minutes of the Board of Directors’
Wednesday, October 22, 2014
Call to Order/Establish
Quorum of Directors: President Kathie Heisey called the meeting to
order at 5:30 pm in the clubhouse at 7900 Greenboro Drive. Board Members
present were: President Kathie Heisey and Assistant Treasurer Hattie Martin.
In attendance by speakerphone were: Vice President Peter Engel, Treasurer
Al Fassler, Directors David Tarantelli, Traci Niederriter, and Secretary
Angelo Laviano. A quorum was established. Lynn Hiott with Reconcilable
Differences was present. Unit owners in attendance were: Doug Davidson.
Approval of the Board
Meeting Minutes of September 24, 2014: Peter made the motion to approve
the September 24th minutes as written and sent out to all Board members,
Al seconded, and all were in favor. Traci opposed due to not having the
minutes of July 9th and the legal meeting from September 24th. Kathie stated
that the minutes were approved and will be sent to the web for posting.
Hattie reported for Al that
as of September 30th, the operating account at Sunrise Bank showed
a balance of $22,750. This included $10,710 in prepaid owner
assessments, so there is actually only about $12,000 in the operating account.
Sunrise Bank reserve balance is $129,475 and FBC (Florida Bank of
Commerce) reserve balance is $85,544 for a total reserve fund of
$215,020. Accounts Receivables is at $125,448 with $27,450
still owing on the current special assessment. We have $56,083
already expensed for bad debts as the accountant recommended last year.
Currently, we are $16,705 over budget to date due to stairwell repairs
and not having all the special assessment money in yet. The financial report
is not approved to accept until the treasurer receives his copy by mail
and reviews it. This will be approved at the next meeting.
Budget 2015 approval to mail
out to owners: Kathie asked if everyone had received the proposed budget
that Lynn emailed out. There was discussion about the numbers not being
the same and all felt that more time was needed for the committee and treasurer
to verify numbers. All agreed to re-schedule this meeting for next week
so that everyone has time to review the proposed budget and agree to the
numbers before mailing to the owners.
Owner Input: None
Set Next Meeting:
The next Board Meeting is scheduled for October 29th at 7:00 PM.
being no further business to discuss, the meeting was adjourned at 6:55
pm by Kathie Heisey.
Lynn Hiott, CAM #35322