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