Meeting Location  

5415 North Sheridan Rd – 2nd Floor Party Room

Call To Order at 9:04 am

Members Present

Michael Parrie, Paul Heck, Monique Fouant, Jean Shamo, Kenneth Anderson

Management

Timothy Patricio, Property Manager

Statement of Purpose of Meeting

Board Treasurer Jean Shamo called the meeting to order and opened the meeting explaining this would be the second of three budget review meetings. The third and final meeting being anticipated on Saturday November 17, 2018.

Review of Proposed Budget

Board Treasurer Jean Shamo explained the goal of the meeting was to review the budget expense categories: Garage Income, Garage Expenses, Payroll Expenses and Legal Expenses. It was also explained that Payroll and Legal would be discussed in Closed Session.

Members from the Inactive Budget & Finance Committee were invited to participate. Members Rebecca Rossof and Oliver Tugend were there to help with additional guidance and insights.

Jean Shamo chaired the discussion, beginning with Garage Income followed by Garage Expenses.

Discussion and Questions

Members discussed each section and budget category as planned. Questions, concerns and questions 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.

Adjourn Open Session

After a motion by Jean Shamo, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of adjourning the Open Session meeting at 10:08am and taking a Break.

Convene Closed Session

Closed Session was brought to order at 10:20 am.

Adjournment

There being no further business and no business requiring resolution, after a motion by Jean Shamo, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of adjourning the meeting at 11:50am.

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

Michael Parrie, President
Kenneth Anderson, Secretary