THE ELIZABETH CONDOMINIUM ASSOCIATION
4601 North Park Avenue
Chevy Chase, MD 20815
Minutes of the Board of Directors Meeting, May 28, 2013
Board Present:
David Robinson President
Steven Schattman............Vice-President
Jim Vuko.........................Secretary
Ted Ariev .......................Director.............
Alfred Muller ... Director
Board Absent:
Jim Jones....................... Director....
Others Present:
Jim Jones....................... Director....
Others Present:
Gregory Roby .............. Senior Vice President, Legum & Norman
James M. Santos ..............ECA General Manager, Legum & Norman
James M. Santos ..............ECA General Manager, Legum & Norman
Jana Bowcut Recording Secretary, On the Record
On April 23, 2013, in accordance with Section 11.109.1 of the Maryland Condominium Act, the Board met in executive session to conduct personnel and legal issues.
Call to Order: Dr. Robinson called the meeting to order at 7:37 p.m.
Approval of Meeting Minutes:
MOTION Mr. Schattman, moved, and Mr. Vuko seconded, that the amended minutes of the meeting of the Board of Directors on April 23, 2013 be approved. The motion passed with all in favor except for Dr. Muller, who abstained (6-1-0).
MOTION Mr. Vuko moved, and Mr. Schattman seconded, that the amended minutes of a special meeting of the Board of Directors on May 14, 2013 be approved. The motion passed unanimously (7-0-0).
President's Report:
Dr. Robinson reported that the meeting schedule for board meetings for the year has been changed slightly. In the past, the Board has not met in December; but this year will meet on December 17th, and no meeting will take place in January 2014. Regular monthly Board meetings will be held on fourth Tuesday of each month at 7:30 p.m.
Treasurer’s Report: Mr. McNerney provided the following report:
The amounts included herein are rounded to the nearest $1,000.
As of April 30, the Association had $3,092,000 in cash and investments, an increase of $27,000 from the prior month.
Expenditures from the Reserve Fund in April totaled $101,000. The amount expended from that fund so far this fiscal year is $434,000.
Delinquencies through the end of April were $71,000, an increase of $16,000 from the prior month. Five accounts are in collection, including one that is in bankruptcy.
With the April reporting period, ten months of data now project a deficit of $45,000 in the operating account. This compares with the March projection of a deficit of $156,000. Most of this favorable reduction of $111,000 is attributed to a favorable variance of $84,000 in the utilities account.
Copies of the Balance Sheet and Statement of Income and Expenses as of April 30 will be available at the front desk.
At a special board meeting on May14, the Board approved a four-percent increase in condominium fees effective on July 1, 2013, the beginning of FY2014. Copies of the approved budget containing that notice were mailed to all owners on May 16.
The 2012 audit creeps closer to finality. A representation letter was sent to the auditors last week, and we expect a final report before the end of this fiscal year.
22 members of the Association have expressed interest in participating in a loan program to the Association at three percent interest. The board will determine whether or not such a loan program will be initiated. If so, the program would begin in early calendar year 2014, at about the time that the Association begins to draw funds from a bank line of credit.
At the last regular Board meeting, the board directed that $100,000 of funds be invested for a one-year period. Those funds were invested in a CD yielding 0.35 percent interest.
Respectfully submitted:
Management Report: Mr. Santos reported on the following:
Committee Reports:
Social Committee: Recent committee activities include: election night, a talk by Brian Murphy and the recital. The Committee thanked Linda Robinson, Karen Sollazo, Rita Miller, Marge McNerney, Wanda Powell, Ted Ariev, and Lynn Thayer.
Old Business:
Mr. Schattman stated that new benches were approved in the April meeting, and asked what the status is. Mr. Santos stated that they will arrive in two weeks.
New Business: None.
Resident Comments:
On behalf of the Board, Dr. Robinson presented gifts and words of appreciation to previous board members Herman Stekler and Ilo-Mai Harding.
Adjournment: The President adjourned the meeting at 8:42 p.m., with the Board to meet immediately after for an executive session, in concordance with section 11.109.1 of the Maryland Condominium Act.
The initial draft of the minutes, upon which these minutes are based, was prepared by Jana Bowcut of On the Record.
Respectfully submitted,
_____________________________________
Jim Vuko, Board Secretary
On April 23, 2013, in accordance with Section 11.109.1 of the Maryland Condominium Act, the Board met in executive session to conduct personnel and legal issues.
Call to Order: Dr. Robinson called the meeting to order at 7:37 p.m.
Approval of Meeting Minutes:
MOTION Mr. Schattman, moved, and Mr. Vuko seconded, that the amended minutes of the meeting of the Board of Directors on April 23, 2013 be approved. The motion passed with all in favor except for Dr. Muller, who abstained (6-1-0).
MOTION Mr. Vuko moved, and Mr. Schattman seconded, that the amended minutes of a special meeting of the Board of Directors on May 14, 2013 be approved. The motion passed unanimously (7-0-0).
President's Report:
Dr. Robinson reported that the meeting schedule for board meetings for the year has been changed slightly. In the past, the Board has not met in December; but this year will meet on December 17th, and no meeting will take place in January 2014. Regular monthly Board meetings will be held on fourth Tuesday of each month at 7:30 p.m.
The amounts included herein are rounded to the nearest $1,000.
As of April 30, the Association had $3,092,000 in cash and investments, an increase of $27,000 from the prior month.
Expenditures from the Reserve Fund in April totaled $101,000. The amount expended from that fund so far this fiscal year is $434,000.
Delinquencies through the end of April were $71,000, an increase of $16,000 from the prior month. Five accounts are in collection, including one that is in bankruptcy.
With the April reporting period, ten months of data now project a deficit of $45,000 in the operating account. This compares with the March projection of a deficit of $156,000. Most of this favorable reduction of $111,000 is attributed to a favorable variance of $84,000 in the utilities account.
Copies of the Balance Sheet and Statement of Income and Expenses as of April 30 will be available at the front desk.
At a special board meeting on May14, the Board approved a four-percent increase in condominium fees effective on July 1, 2013, the beginning of FY2014. Copies of the approved budget containing that notice were mailed to all owners on May 16.
The 2012 audit creeps closer to finality. A representation letter was sent to the auditors last week, and we expect a final report before the end of this fiscal year.
22 members of the Association have expressed interest in participating in a loan program to the Association at three percent interest. The board will determine whether or not such a loan program will be initiated. If so, the program would begin in early calendar year 2014, at about the time that the Association begins to draw funds from a bank line of credit.
At the last regular Board meeting, the board directed that $100,000 of funds be invested for a one-year period. Those funds were invested in a CD yielding 0.35 percent interest.
Respectfully submitted:
John McNerney
The current work-order delinquency totals $903.00 of which $488.00 is at or greater than 60 days.
Management mailed the final/approved Operating Budget for FY2014.
The canopy work at the west entrance will begin the second week of June.
Management has performed an initial inspection of all resident storage rooms. Additional lighting will be added to the rooms the week of May 27, 2013.
A structural engineer is beginning to start work on the window and door project. A unit has been identified to install a mock-up window to understand what will be involved with installation. Work on the roof anchors, chiller, sewage ejector/sump pumps, roof ventilation/duct cleaning should begin in June.
Mr. Santos received an estimate for a more dependable microphone system for the west lobby, which would involve installing four handheld microphone systems, a custom wall plate and a 24-space rack in the storage room to hold equipment. The estimate from Audio Video Group is for $10,497. Concern was expressed about how high the quote is and board members asked if the work would come with a warranty, which it would. Board members agreed that additional estimates should be sought.Social Committee: Recent committee activities include: election night, a talk by Brian Murphy and the recital. The Committee thanked Linda Robinson, Karen Sollazo, Rita Miller, Marge McNerney, Wanda Powell, Ted Ariev, and Lynn Thayer.
Old Business:
Mr. Schattman stated that new benches were approved in the April meeting, and asked what the status is. Mr. Santos stated that they will arrive in two weeks.
New Business: None.
Resident Comments:
Molly Frantz, Unit 1007, expressed concern about the 2014 budget in relation to the 2010 and 2011 audits. Mr. McNerney stated that the reasons for replacing the auditors were discussed at the last Board meeting. The Board is still awaiting the 2012 audit numbers.
Rita Miller encouraged the Board to adopt a rule prohibiting smoking on balconies, as she has smelled smoke in her unit. A nearby condominium building recently adopted this rule and it is working.
Karren Alenier, Unit 301, inquired how balcony activities are policed, as she recently smelled lighter fluid from someone grilling on a balcony. She suggested that signs be posted in the elevator to remind residents to be considerate of their neighbors.
Pam Dillon, Unit 718, stated that grilling on balconies is a violation of the fire code and residents should call the fire department if they observe this occurring. Ms. Dillon also expressed concern about the budget in that it shows a planned deficit of $95,674. Mr. McNerney stated that this will be balanced by $95,000 being taken from the operating reserves to the general account. Mr. Ariev expressed concern that doing this does not balance the budget. Board members discussed the need for a balanced budget and spending only as much as is brought in. Concerns were also expressed that the transfer of from the reserves will underfund the improvement project for the year. All condominium owners were mailed copies of the budget, but copies are also available in the office.
Elin Winthrop, Unit 1114, expressed concern about odors wafting into her apartment, which she has not experienced before in the 11 years she has lived in the building. Dr. Robinson stated that duct cleaning and replacing exhaust fans should help this.
Joan Rosenbach, Unit 1517, expressed interest in exploring air conditioning units in individual apartments. Mr. Santos stated that a letter will be sent to owners with options available.
Vicky McDowell, Unit 1721 inquired how the Elizabeth Condominium Association is incorporated. Mr. Roby stated he was not sure, but he can find out.Adjournment: The President adjourned the meeting at 8:42 p.m., with the Board to meet immediately after for an executive session, in concordance with section 11.109.1 of the Maryland Condominium Act.
The initial draft of the minutes, upon which these minutes are based, was prepared by Jana Bowcut of On the Record.
Respectfully submitted,
_____________________________________
Jim Vuko, Board Secretary
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