Board Meeting Minutes, January 14, 2015

by admin on February 9, 2015

Palm Worth, Inc.
Board Meeting
January 14, 2015
Palm Worth Clubhouse

1. CALL TO ORDER

Meeting called to order by Juanita Leary, Board President at 3:12 p.m.
Board members present:

Juanita Leary President
Jim Apostolico Vice President
Glenn Keller Treasurer
Marian Day Secretary
Stacey Graiziger Director
Arthur Boyle Director
Len Lilyholm Director

2. ROLL CALL

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

3. PREVIOUS BOARD MEETING MINUTES
Marian Day moved that we waive the reading of the October 28, 2014 minutes and that they be approved.  Second by Stacey Graiziger and approved by all.

4. SECRETARY’S REPORT – VOTE TO APPROVE PREVIOUS EMAIL VOTES
Marian Day moved to approve for the record the following voted done previously through  e-mail.
Sale of unit 202 from Sue Stinson to Harry and Sandra Moran  titled “Harry E. Moran and Sandra A. Moran, Trustees under the Moran Family Trust dated March 9, 2010”.
A/C replacements for units 407, 114, 507, 505, 411
Rental of units 108 Mote to Cain ,206 Overhiser to Goss and 515 Love to Luana
Gratuitous Loan unit 210 Bohn
Second by Jim Apostolico and all in favor.

5. TREASURERS REPORT
Glenn Keller discussed the Financials from the end of November as follows:
$75,446 in the Operating account
$308,640 in the 9 specific reserve accounts
$21,986 prepaid assessments
$ 9,599 accounts payable
$43,891 available cash
In December a check was written for the railing project for $33,249 plus other project related checks leaving almost zero cash available in the operating account. A check was written in January 2015 from the Reserve account to pay for the additional support columns and floor work in the maintenance room. The $42,000 assessment was necessary to repay the money borrowed from the Reserve account to make this payment.
The income statement for the 11 months ending November 30th showed a loss of $47,203. If you take out costs associated with the railing project which is showing up in the contingency expense, PW would show a surplus of $1500.
Some line items were over budget and others were under budget, so except for the railing project we were close to on budget for the year.
There is still a balance of $17,000 retainage fee owed that will be paid by the 2015 reserve contribution to railings and concrete.

6. NEW BUSINESS
No new business

7. OLD BUSINESS
Juanita Leary discussed the dunes being roped off and explained the reasons including kite boarders, dune protection, dogs on beach, etc. She also briefly discussed the issues with Phoenix Landscaping and trimming. The gas grill was left on and several shareholders could smell the gas. Due to the seriousness of the situation a notice will be sent out to the Shareholders on how to properly use the BBQ and reminder to turn gas off, clean and put cover back on after using.

A. COMMITTEE REPORTS
1.Stacey Graiziger stated that options and costs for the front wall be distributed at a future  Board Meeting. She also thanked Barbara Koehl and Shirley Mckinney for doing the Christmas party and said that they will not be doing it again next year and asked if anyone interested to let her know. An inventory has been done of all items including tables and chairs, table cloths, napkins, dishes and various other items which should help when planning events.
2. Juanita stated that there will be a painting contract for the summer of 2015 and that Lenny will get quotes from 4 contractors. An engineer to oversee that the correct materials are being used and applied correctly was discussed. Len Lilyholm does not feel it necessary to hire an engineer.
Len Lilyholm is also overseeing the problem some of the shareholders are having with the Board approved window replacements and water penetration and will report back in February.

8. SHAREHOLDERS QUESTIONS AND COMMENTS
Several questions and comments were discussed regarding the roping off of the beach and laundry contract.

9. ADJOURNMENT
Motion made by Glenn Keller to adjourn at 4:20 p.m. second Stacey Graiziger and all in favor.

Minutes submitted by:
Marcy Cresswell,  LCAM
January 21, 2015

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