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TUESDAY, September 18th, 2018, 4:00pm
Board Members: Lauren Dame, Jean Kern, Clyde Horn, Jesse Fittipaldi, Rick Lowen
BMC Personnel: Tom Weaverling, Diane Sollinger
Owners: Bill Bomball Rand Cooper, Misha Seymore, Lourdes Martez
Rick Moved to approve, Jean 2nd – unanimous.
Operating Funds: Opening $2,896.11 Closing $15,567.60. (topay flood insurance premium.)
Total Operating Income:MTD - $30,039.24 YTD – 240,120.82 (in budget guidelines).
Total Operating Expense: MTD - $11,759.78 YTD - $129,959.80(in budget guidelines). $15,000 was transferred to reserves in August.
Reserves Opening Balance - $166,872.97 Contributions - $15,000.00 Withdrawals - $0.00 Interest - $17.35 August Closing balance -$181,890.32.
No Reserve Expenses were paid in August.
Clyde Moved to accept the report, Jesse seconded – unanimous
Clyde reported that the recent power outage caused failures in some of the Exit signs and some of the wall mounted safety lights. Tom is replacing them as soon as he can (<90 days). Smoke detectors on all floors will also be checked and replaced as needed.
The new Laundry Room Contract states we raise the drying price to $1.25 and we get a 50/50 split as was the case in the past.
Rick moved to accept the contract. Jean 2nded – unanimous.
Jean moved that we tell the window washer contractor that if they are not completed by e.o.m., he will be fired and we will not be paying him anything. Clyde 2nded, 4 ayes with one abstention. - Passed.
The voting on the proposed by-law amendment was finally completed [Yes votes won] but sadly it is not valid as the vote took too long past the announced extended end date. This will have to be voted on at the February General Meeting. Noted that we need to send proxy notices along with the bylaw changes to remote owners early and remind them to send them in.
New Flood insurance offered has the option to buy coverage for $50,000 of personal property damage coverage [for the Association’s “personal” property].
Clyde moved to not purchase this insurance since we don’t have anything much to lose of “personal” property. Jean 2nded – unanimous.
Otis is paid for testing and maintenance on the elevators yet there was a failure of the system during the power outage which caused a person to be trapped in an elevator between floors for 20 mins until fire department personnel freed him. What can we do to make sure this doesn’t happen again? Tom will work with Otis on this matter.
Jean moved to refund the $25.00 late fee assessed to Lourdes after a payment mix-up. Jesse 2nded – unanimous.