Budget Meeting, 11-14-2013

by admin on November 20, 2013

Palm Worth, Inc.

Budget Meeting

Thursday November 14, 2013

Palm Worth Clubhouse

 

1. CALL TO ORDER

Meeting called to order by Glenn Keller, Board President at 2:35 p.m.

Board members present:

Glenn Keller President

Juanita Leary Vice President

Jim Apostolico Treasurer

Marian Day Secretary

Tom Wallis Director

Linda Brennan Director

David Gerwig Director

 

2. ROLL CALL

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

 

PREVIOUS BOARD MEETING MINUTES

Marian Day moved that we waive the reading of the October 28, 2013 minutes and that they be

approved. Second Jim Apostolico and approved by all.

3. TREASURERS REPORT

Jim Apostolico stated that October Financials were not yet available and reviewed the report for September which was given at the October meeting. Glenn Keller made a motion to approve the Treasurers report, second by Juanita and approved by all.

4. BUDGET DSICUSSION AND APPROVAL

Glenn Keller stated that the Board unanimously voted to approve Cresmarc Property Management contract which was renewed for 1 year with a 2% increase.

Jim Apostolico went through the budget line items that had been changed and gave an explanation.

Changes to code 5515 to read Elevator contract (removing phone) and 5525 to read Lawn/grounds Pest control (adding grounds)

Jim Apostolico will speak to the Insurance Company regarding flood policy rates

Marcy Cresswell will check into switching the phone company

Jim Apostolico stated that the building will need to be painted in the off season of 2015 and that the reserves needed to be funded appropriately.

There was a brief discussion regarding caulking of the back windows on the East side.

Tom Wallis moved to approve the budget, second by David Gerwig and all in favor.

5. ADJOURNMENT

Jim Apostolico moved to adjourn at 3:13 p.m., second by Marian Day.

Minutes submitted by:

Marcy Cresswell, LCAM

November 19, 2013

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