Meeting Location

2nd Floor Party Room

Call to Order

9:00am

Members Present

Michael Parrie, Sheldon Atovsky, Monique Fouant, Lloyd Allison, Angie Eden

Management

Shruti Kumar, Property Supervisor (via conference call); Timothy Patricio, General Manager

Open Session

Board President Michael Parrie called the meeting to order and opened the meeting explaining this would be the first of three expected budget review meetings. He then introduced and thanked Budget & Finance Commission member Jean Shamo for attending to contribute to the review. Unable to attend this meeting was Commission member Becky Rossof.

Review of Proposed Budget

Board Treasurer Lloyd Allison explained the goal of the meeting was to review the budget operating expense categories, and discussion began category by category through Administrative Expenses, Operations Expenses, Contracted Expenses, Utilities, Maintenance & Repairs and Recreational.

Discussion and Questions

Questions and concerns were discussed as needed with members and management. Each member was given the opportunity to raise points or questions for discussion of any budget line item. Management took notes for any editing, gathering information and direction for follow up.

Break

Discussion paused by direction of Board President Michael Parrie for a 10 minute break at 10:11am, and resumed following the break.

Adjournment

There being no further matters for Open Session consideration, after a motion by Monique Fouant, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to adjourn at 11:11am.

Signed (as seen on pdf of official minutes for this meeting, upper right corner of these minutes).

Michael Parrie, Board President

Sheldon Atovsky, Board Secretary