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TUESDAY, January 15th, 2019, 5:15pm
Board Members: Lauren Dame, Jean Kern, Clyde Horn, Rick Lowen, Jesse Fittipaldi
BMC Personnel: Diane Sollinger, Tom Weaverling
In attendance: Christi Cooper, Phyllis Fisher, Esther Konop, Lisa Bostwick, Rebecca Humble, Traci from AmFam Insurance
Jean Moved to approve, Jessie 2nd – unanimous.
Recommend that we renew our policy with AmFam with the increased value of the building and the increased costs.
Clyde moved to purchase the renewal [$12,223.00], Jean 2 nd ed - unanimous.
Traci explained the option to purchase an earthquake insurance coverage rider. This will be addressed at a special Board Meeting next month prior to the Annual Meeting allowing time for Board members to evaluate the rider’s cost/benefit.
Opening Cash Balance 12-1-18 $2,495.67 Closing Cash Balance 12-31-18 $2,153.68
Total Operating Income: MTD Actual $28,668.93; YTD Actual $358,831.44 in budget guidelines
Total Operating Expense: MTD Actual $14,031.17, YTD Actual $200,799.84 in budget guidelines
NET 2018 OPERATING INCOME :$158,031.60 VS Budget $138,576 +$19,455.60. $15,000 was transferred to Reserves in December
December Opening Balance $227,951.85, Contributions $15,000.00, Withdrawals $0.00, Interest $24.56
December Closing Balance $242,856.41
Reserve plan anticipated 12-31-18 balance $222,324 +20,532.41
to allocate $10k from year end surplus to add to the roof safety project. Jean 2 nd ed – unanimous.
Fire equipment upgrade and test completed.
Garage pole lights replacement of one burnt out bulb and two other fluorescent bulbs with LED lamps will be done this week.
Graffiti on alley wall has prompted letter from neighbor asking that it be repainted. Painting will be done only after the daily temperature reaches 50 degrees F. for at least 2 days running.
Tom will research paint or coating to repel graffiti as the special paint hasn’t done a good enough job. Painting will likely wait until after the construction work is completed. We may opt to ask for volunteers and provide lunch to them.
Animal Policy re-vote is going forward in tandem with the Yearly Meeting Owner’s Packets.
The Proxy form could include a y/n vote for this as well as the roof safety project expense.
Lauren will follow up with Diane to craft a document to send.
Will be February 5th AT 5:15 PM