Board Meeting 10-28-2013

by admin on October 28, 2013

 

Palm Worth, Inc.

Board Meeting

October 28, 2013

Palm Worth Clubhouse

 

1. CALL TO ORDER

Meeting called to order by Glenn Keller, Board President at 2:00 p.m.

Board members present:

Glenn Keller President

Juanita Leary Vice President

Jim Apostolico Treasurer

Marian Day Secretary

Tom Wallis Director

Linda Brennan Director was absent

David Gerwig Director was absent

 

2. ROLL CALL/ PREVIOUS BOARD MEETING MINUTES

Quorum of the Board was present and verified. Building Manager Marcy Cresswell, LCAM was present along with several shareholders.

 

3. Marian Day moved that we waive the reading of the April 1, 2013 minutes and that they be approved.  Second by Juanita Leary and approved by all.

 

 

4. TREASURERS REPORT

Jim Apostolico gave the following treasurers report based on the September 2013 financials, the numbers from the Treasurer’s Report are:

$133,156 – In our Operating account

-$21,287 – Prepaid Assessments

$111,869 – Available cash

-$40,000 – Recommended held for emergency by Auditors

There is approximately $50,000 in reserve account for building/railing restoration to partially cover the approximately $80,000 project.  Discussing using 2012 surplus for rail/beam project

Jim Apostolico moved to transfer $30,000 from operating account to reserve account to cover the difference. Second by Juanita Leary and approved by all.

Tom Wallis moved to accept the Treasurers report, second by Marian Day and approved by all.

 

 

5. OLD BUSINESS

     A. Review railing/beam project:

 Juanita Leary gave a report on the beams and railings. She stated that they opened approximately 50 beams. 75% were stucco work only. Because there was more beam repair than originally expected, the engineer cut back on number of railings this year because of seasonal time constraints. The job was approximately $20,000 under budget which should cover most of the railings next summer. The permit will remain open to finish the job next summer.  Juanita said that there is approximately $23,000 of additional concrete repair needed and discussed when it should be done. Juanita Leary made a motion to start the rails up in May of 2014, second by Marian Day and all in favor.

 

   B. Lighting in Atrium:

Glenn Keller discussed electrical issues in atrium stating that most of the present lights are not working and in fact they are dangerous because past repairs have substituted plastic conduit for metal and the fixtures are no longer grounded. A new low voltage system seems to be the best solution to get the lights operating again. Juanita made a motion to approve Mur-E-Lectric to replace old wiring with low voltage lighting, second by Tom Wallis and all in favor. Also included was approval to replace the current timer switches on the house lights to sensors.

 

   C. Ratify e-mail votes:

Motion made by Marian Day to approve for the record;  A/C replacement 208, 209, 412, 504, tankless hot water heater 208, sale of Gorman to Duffy 308, rentals 108 Mote/Cain, 301 Schrage/Graf, tile and carpet 414, second by Tom Wallis and all in favor.

 

   D. Discussion of landscape front lawn:

Juanita spoke briefly about the plans to landscape the front lawn to provide a privacy screen in the future as well as enhancing the looks in front.   Sue Keller reviewed 3 estimates she obtained  from Phoenix, Shaman Davis Landscaping, and R.A. Haines Landscape. She states that the irrigation will also need to be updated. Tom Wallis moved to approve $5000 for the front lawn project, second by Jim Apostolico and all in favor.

 

6. NEW BUSINESS

    A. Discussion of budget prior to mailing

Jim Apostolico briefly reviewed the preliminary budget and the major changes and said that there would be a 4% increase if approved.

Jim Apostolico informed shareholders that the Town of Palm Beach has Palm Worth on a list which requires signed notarized approval from a Palm Worth representative before issuing a permit.

Jim Apostolico moved that the Board write a letter to rescind that requirement, second by Juanita Leary and all in favor.

 

7. SHAREHOLDERS QUESTIONS AND COMMENTS

It was recommended that the social committee have a sign-up sheet for volunteers to coordinate monthly events. The Board will e-mail shareholders to request volunteers.

 

8. ADJOURNMENT

Motion made by Tom Wallis to adjourn at 3:00p.m second by Juanita Leary and approved by all

 

 

 

 

Minutes submitted by:

Marcy Cresswell,  LCAM

November 6, 2013

 

 

 

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