BOARD OF DIRECTORS MEETING

And Special Unit Owner Meeting To Discuss Proposed Budget For 2017/2018

Management Report And Agenda

Monday January 9^th, 2017 at 7:30PM

2^nd Floor Party Room

UNIT OWNER MEETING – 7:30pm

Unit Owner Meeting to Review the Proposed Operating Budget for the 2017/18 Fiscal Year

This is a meeting of the owners. The meeting chair is expected to be the Board President Michael Parrie who will bring the meeting to order, direct discussion and call on audience members to speak. Please be courteous and respectful to those speaking. Wait to be recognized by the meeting chair before speaking.

ADJOURNMENT – Unit Owner Meeting

OWNER FORUM

15 minutes, 2 minutes per person

The Board and Management will address questions and feedback from Unit Owners.

OPEN SESSION – Call to Order

The meeting chair will call the meeting to order. Please be courteous – no audience participation is permitted.  If applicable, speakers will be recognized by the Meeting Chair.

Roll Call – Confirm Quorum

The meeting chair will confirm a quorum of Board Member is present. Board Members and representatives from Management will be introduced.

Committee Reports

Committees will be invited to deliver updates to the Board on business and activities.

Board Report: Board President Michael Parrie

The meeting chair may make comments or provide updates on Association business and activities or otherwise address the Board and Owners present.

Action Items – New Business

1. Closed Session Business

This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.

2. Minutes – Board Meeting December 12, 2016

Attached to the report for Board Member review, are the proposed minutes from the Board Meeting held on Monday December 12, 2016, as submitted by Timothy Patricio, Property Manager.

A sample motion follows to approve the minutes for December 12th: “I move the Board of Directors approves the minutes from the Board Meeting held on Monday December 12, 2016.”

3. Proposed 2017/2018 Budget

This Agenda item is provided should discussion or any resolutions be need for action on the proposed budget, to be discussed at the Unit Owner Meeting to be held prior to the Board Meeting. It is worth noting any changes which could significantly impact the budget as presented in the initial mailing, such as increasing or decreasing the assessment level, would require another mailing to all owners for proper notification.

4. Social Committee Membership

This Agenda item is provided for discussion on possible changes in membership to the Social Commission.

It is our understanding, a proposal will be presented to appoint Sheldon Atovsky, owner of Unit 3306, as Chair of the Commission

A sample motion follows: “I move the Board of Directors appoints Sheldon Atovsky as Social Commission Chairperson.”

5. Garage Power Wash Fee

This Agenda item is provided for discussion of matters related to the policies related to the $50 fee charged to parkers who do not remove their vehicles from the garage when cleaning is scheduled. For consideration:

1. One owner’s request to waive a fee.
2. One owner’s objection to accommodating owners who do not move their vehicle or otherwise expect the staff to accommodate their vehicle elsewhere in the garage.

 Business Reports

Treasurer’s Report

Fund Balances End of November 2016

Operating Funds $640,793 (increase of $246,044 from October)

Reserve Funds $1,892,709 (decrease of $88,188 from October)

Total Cash and Investments $2,533,503 (increase of $157,857 from October)

November Income and Expenses

Total November Income: $469,176

Total November Expenses: $329,890

Income From Garage: $29,351

Contribution To Reserve: $122,742

Total Surplus or (Deficit): $45,896

Management Report

Property Manager Tim Patricio will report on current Business and Activities, items of interest from the Monthly Activity Report and recent sales activity.

ADJOURNMENT

There being no further business, the Board will consider adjourning the meeting.

A sample motion follows: “I move the Board of Directors adjourns the January 9, 2017 Board Meeting at _ _ PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

Next Meeting Dates January 23^rd 7:30PM and Residents forum February 6^th 7PM.