View the official pdf version of the minutes
Board Members: Hal Dillon (Secretary), Clyde Horn (Chair), Alex Howe(Treasurer), David Igl
BMC Personnel: Diane Sollinger, Dave Saraceno
Owners: Bill Bomball, Richard Bomball, Giny Landgreen
Motion: Clyde; 2nd: Hal; Approval: unanimous
Motion: Hal; 2nd: Clyde; Approval: unanimous
Alex Howe is our new Willamette Towers Board member and our new Treasurer!
WELCOME Alex and thank you for your service.
Hal; 2nd: Clyde; unanimous approval.
Operating Account Summary (aka Trust or Checking account)
Beginning Cash Balance [05/01/2023]: $51,677 prev: $42,735
Ending Cash Balance [05/31/2023]: $62,320 prev: $51,677
BUDGETED Total Operating Income: $21,565 prev: $21,565
ACTUAL Total Operating Income: $21,555 prev: $21,047
ACTUAL Total Operating Expense: ($17,973) prev: ($21,134)
BUDGETED Total Operating Expense: ($18,901) prev: ($18,902)
BUDGETED Total Operating Income: $107,823 prev: $86,258
ACTUAL Total Operating Income: $104,733 prev: $83,178
ACTUAL Total Operating Expense: ($118,068) prev: ($100,095)
BUDGETED Total Operating Expense: ($114,507) prev: ($95,606)
Payment to Anderson Plumbing & BMC related to riser planning: $800
Gate Maintenance to repair fenestrated slats on overhead door of garage entrance: $3,373
(note: YTD Actual is $7,034 vs. budgeted $2,500)
Opening Balance [05/01/2023]: $524,874 prev: $520,916
Credits this Period: $19,681 prev: $19,681
Debits this Period: ($13,614) prev: $(16,681)
Change in Value this Period: 664 prev: $445
Closing Balance [05/31/2023]: $531,606 prev: $524,874
Primary Reserve balance: $80,899 prev: $185,567
Plumbing Reserve balance: $249,540 prev: $238,805
Goal of $300,000 in rotating CD funds:
CD #1 purchased, matures 7/3/2023.
CD #2 purchased, matures 8/10/2023.
CD #3 “held”, should mature 9/12/2023—verifying with Morgan Stanley
End of Treasurer’s Report
Discussion: Loss of hot water (03, 04 units) has happened several times recently. It is the BOD’S understanding that this has to do with rust accumulation in the pipes. This rust accumulation is disturbed when a plumbing shut-off occurs in a particular stack. This is the fundamental problem that the Big Plumbing Project will fix.
Jesse: absent. MMRC report.
Hallway walls (01 units) are being opened for work on Big Plumbing Project.
We will get updated bids to install black chain-link fence at east and west ends of our “alley”.
There are still spaces available for rent in the new interior bicycle storage room.
Grass planted next to the sidewalk on the west side of the building is surviving!
EV charging stations: Discussed infrastructure for EV Charging Station(s). Will get cost estimates.
Toilet Leak Test: About 1/2 of toilets were tested with blue tablets: No leaks reported.
Next meeting is July 11.
$40 late-fee waiver request: Waiver granted.
Will get from BMC cost to clean up once or twice per year in the alley at the base of the East wall.
Replacement of the roof on the automobile entry structure. Estimated cost is $15,000.
Who pays for the repair of the leaks in the plumbing pipes on the Second-Floor patios? The HOA will pay the plumber that did the work. We will then discuss if the unit owners will reimburse the HOA.
5:00 PM
07-18-2023