Run Condominium Association
Minutes of the Members’ Budget Meeting
Wednesday, November 19, 2014
Call to Order: The meeting was called to order at 6:32 pm in the clubhouse.
Establish Quorum Of Members: A quorum was met. Thirty-seven (37) proxies were needed to establish a quorum of members. Seventy-eight owners attended (13 in person and 65 by proxy).
NOTE: These votes are a straw vote from the owners to help the Board make their final decision for the 2015 budget as proposed. The final decision on the 2015 budget rests entirely with the Board of Directors.
Voting Results On CPA Audit versus CPA Review for 2014 financials were forty-eight (48) voted to have a CPA review and seventeen (17) voted to have a CPA audit for 2014 financials.
Voting results to fully fund or partially fund reserves for fiscal year 2015: Sixty-five (65) voted to have partially funded reserves for fiscal year 2015 with no votes for a fully funded reserve for fiscal year 2015.
Voting results from a straw
vote to charge the tennis court to a different type of activity area and
if the Board needs to move forward in obtaining bids to change or leave
the same as it was intended for as a tennis court. Thirty-five (35) voted
to change the tennis court and bring forward proposals and thirty (30)
voted to leave the tennis court as it was deemed and continue to move forward
with the maintenance of it.
ADJOURN MEMBERS’ MEETING:
There being no further member business, the meeting adjourned at 6:40 pm.
Minutes of the Board of Directors’ Meeting
Wednesday, November 19, 2014
Call to Order/Establish Quorum of Directors: President Kathie Heisey called the meeting to order at 6:40 pm in the clubhouse at 7900 Greenboro Drive. Board Members present were: President Kathie Heisey, and Treasurer Assistant Hattie Martin. In attendance by speakerphone were: Vice President Peter Engel, Secretary Angelo Laviano, Treasurer Al Fassler, Directors David Tarantelli, and Traci Niederriter. A quorum was established. Lynn Hiott and Michelle Davis with Reconcilable Differences was present. There were 13 unit owners present, Maria Kirkpatrick, Marjorie Schfinzo, Cathy Griffith, Theresa Vazquez, Tim Andrews, Judy Schneider, Doug Davidson, Jane Hamilton, Michael and Chelsoa Balak, Janet Loor, Janet Hord, Stacy Pregantme, and Berk Celikyurek.
Approval of the Board Meeting Minutes of July 9th, September 24th attorney meeting, October 22nd, and October 29th Meetings: Traci N requested that additional changes be made to the October 29th meeting minutes and promised management to send the changes before the night end. Minutes were tabled and will be approved at the next Board meeting.
Financial Report: Al Fassler reported that as of October 31st, the operating account at Sunrise bank showed a balance of $48,624.29, Security deposits account with $1,300 for a total of $49,924.29. Sunrise Bank reserve balance is $116,266.80 and FBC (Florida Bank of Commerce) reserve balance is $85,563.02, for a total reserve fund of $251,754.11. Our A/R is $83,199.49 and $9,155 for special assessment A/R. Allowance for uncollectable debts of $44,563.12. Year-to-date through October 31st, we are $13,860 over budget. Hattie made the motion to accept the financial report as stated, Peter seconded the motion and it passed by unanimous voice vote.
Owner Discussion regarding 2015 Budget:
Discussion and Ratification of Member Votes: Total of 65 Proxies received
1) Voting Results on CPA Audit vs. CPA Review for 2014 Financials- 48 votes to waive the audit and have the review and 17 votes to have the audit. Traci made the motion to not follow what the owners requested and complete a full audit of the 2014 financials. Angelo seconded this motion and it passed by unanimous voice vote. The Treasurer will motion at the next meeting which CPA company will complete the Audit.
2) Voting Results for Fully Fund or Partially Fund Reserves for fiscal year 2015- All 65 votes in favor of partially funding the reserves.
3) Voting Results from straw vote to charge tennis courts into a multi-court area or leave the tennis courts as they are and continue with the maintenance. 35 votes in favor of charging the tennis courts and having the Board bring forward recommendations and proposals and 30 votes against changing the tennis courts and keeping them the same as intended. The Board will discuss this at another meeting to possibly take this for an amendment vote. The Board will seek proposals to change the courts and will bring it to the owners later in the year.
Board Vote on 2015 Budget: Doug presented slides to better explain how the Budget committee and the Board came to their decisions on the 2015 Budget. The slide presentation will be attached to the main set of minutes on the website and office. Traci and Doug attempted to present another proposed budget to the owners present and to the other Board members, which the other Board members only received this proposed budget 2 hours prior to the meeting to adopt. This proposed budget did not go out to the owners for their review. However, in their proposed budget, they wanted to not increase the 2015 monthly fees to $360, but to leave them at $335 each month with a $800 special assessment. Trace made a motion to approve her proposed budget with no increase, Angelo seconded, David approved, and Kathie, Hattie, Peter, and Al opposed. Al made a motion to approve the 2015 budget as mailed to the owners with the $25 increase monthly to $360 per month with the $800 special assessment, Peter seconded, all were in favor except David, Angelo and Traci who opposed. Al then amended his motion by abating the 2015 budget decision until all Board members and Budget committee had more time to discuss and review the proposed changes. A final decision will be determined at the next Board meeting next week. Attached to these minutes will be the proposed budget that Traci requested to be brought forward and the original budget that was mailed to the owners. These copies can be reviewed in the office with the original minutes.
Any New Business:
Set Next Board Meeting: The next scheduled Board Meeting will be November 25, 2014 at 6:30 pm at the clubhouse at Garrett’s Run to decide what the 2015 monthly assessments will be.