Board Meeting Minutes | January 20, 2016

by admin on January 20, 2016

Palm Worth, Inc.
Board Meeting January 20, 2016
Palm Worth Clubhouse

1. CALL TO ORDER

Meeting called to order by Juanita Leary, Board President at 2:00 p.m. Board members present:

Juanita Leary President
Vice President Jim Apostolico
Glenn Keller Treasurer
Marian Day Secretary
Stacey Graiziger Director arrived at 2:06
Director Art Boyle
Director Len Lilyholm was absent

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 November 9, 2015 budget meeting minutes and that they be approved. Second by Jim Apostolico and approved by all.

4. SECRETARY’S REPORT – VOTE TO APPROVE PREVIOUS EMAIL VOTES

A. Approval of Previously Approved E-mail Votes

Marian Day moved to approve for the record the following votes done previously through e-mail: Rental of unit 108 Mote to Cain, 206 Overhiser to Goss, 209 change of title from James M. Apostolico and Susanne C. Apostolico to James M. Apostolico and Susanne C. Apostolico Living Trust Agreement Dated November 10th, 2015. Gratuitous loan unit 412. Second by Art Boyle and all in favor.

B. Disposal of Old Files/Paperwork

The storage unit was cleaned out over the summer. All of the old paperwork will be shredded.

5. TREASURERS REPORT

Glenn Keller discussed the Financials from the end of November as follows: $79,52 in the Operating account
$232,293 in the 9 specific reserve accounts
$21,473 prepaid assessments
$ 1,713 accounts payable
$56,442 available cash
Net income of $41,345

The following accounts were under budget: Utilities $7060, Building repairs $14,882, Contingency $17,733. This cash will be used to pay for purchase of the washers and dryers, and will help cover the increases in the painting contract.

Marian made a motion to accept the treasurer’s report, Second by Stacey Graiziger and approved by all.

6. OLD BUSINESS

A. Painting and Restoration Contract Status – Juanita reports that the painters are doing final punch list items. She states that we will be using some 2016 building repairs and contingency funds so that there will be no assessment for painting project. Munyan will paint doors for $65 each for those interested. The paperwork is in the office.

B. Security Proposals – Glenn Keller is looking in to the possibility of surveillance cameras. There are currently 3 dummy cameras. Sue Apostolico spoke to a representative from the police department who suggested night vision cameras. The cost of 6-8 wireless cameras with high resolution including DVR is approximately $1,200 – $1,300. Jim Apostolico made a motion to approve up to $1500 for security system, Second by Art Boyle and all in favor.

C. Termite Inspection – Apartment 104 has termites in the kitchen cabinets which are being removed and replaced. The inspection of all apartments for termites is being postpones until summer because it would be impossible to detect with everyone here since they are most likely cleaning any visual evidence.

D. Access 12 Status – No upgrades to the counties amenities will be approved until they satisfy the issue of LaPalmas easement.

E. Kevin’s status – Home Depot is changing some of the schedules and this may affect Kevin’s schedule. We will have a better idea in February whether he will continue to work the same schedule.

7. NEW BUSINESS

A. Proposed PB Underground Utilities & Assessment Method – Jim and Marian went to a

meeting regarding underground wiring. Condominium reps from Sloans Curve South are against and gave the reasons why, mentioning that hurricanes could cause flooding and underground wiring could take 3 or more weeks to get to. The also stated that it would be very costly to fix problems. It is on the ballot, and if passed the payment, which is a tax, method is included. They determine the need by aesthetics, safety and reliability. Residents North of Sloans curve will see much more benefit.

B. Laundry Room Proposed Procedure – Motion made by Stacey Graiziger to approve the following written procedure, second by Jim Apostolico and approved by all.

1. All monies collected from the laundry machines will be credited to a specific reserve account and the revenue will be reported on a separate line item in the income statement. Once the balance in the reserve account equals the replacement cost of new machines, the board can approve the expenditure of the surplus funds for any purpose it deems appropriate.

2. A log book will be kept recording all monies taken from the machines. Monies should be taken out on a regular schedule at least once per month in the presence of two people who should initial the log book and together take the coins to the bank for deposit. *The Board will approve persons authorized to collect and deposit the money. Building manager (Marcy

Cresswell) along with Elaine Bartholomew and four Directors, Juanita, Marian, Jim and Glenn will be authorized to count money. Motion to approve authorized people made by Jim Apostolico, second by Stacey Graiziger and approved by all.

3. The key to the coin collectors on the laundry machines will be kept under lock in the custody of the manager of Palm Worth.

8. SHAREHOLDER QUESTIONS AND COMMENTS

A few questions were asked and answered.

Thank you expressed to the Board, Marcy and Kevin for all the hard work during the painting project.

9. ADJOURNMENT

Motion made by Juanita Leary to adjourn at 11.08 a.m. second Stacey Graiziger and all in favor

Minutes submitted by:
Marcy Cresswell, LCAM February 2, 2016

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