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Willamette Towers Board Meeting

October 21, 2025

ATTENDEES:

Board members (in person): Clyde Horn, Jesse Fittipaldi, Hal Dillon
Board members (via Zoom): Alex Howe

BMC Personnel (in person): Diane Sollinger

Call to order: 5:03 PM

Motion to approve today’s agenda: Clyde 2nd: Hal Unanimous

Motion to approve minutes (8/26/25; 9/23/25;9/30/25): Clyde 2nd: Jesse Unanimous

Treasurer’s Report: Month ending September 30, 2025

Operating Account Summary (aka Trust or Checking account)

Beginning Cash Balance [09/01/2025] $33,941 prev: $359
Ending Cash Balance [09/30/2025] $32,238 prev: $33,941

Budget–Comparative

Month-to-Date Details

BUDGETED Total Operating Income: $24,603 prev: $24,603
ACTUAL Total Operating Income: $24,952 prev: $25,835

ACTUAL Total Operating Expense: ($22,612) prev: ($20,670)
BUDGETED Total Operating Expense: ($19,853) prev: ($19,853)

Year-to-Date Details

BUDGETED Total Operating Income: $221,431 prev: $196,827
ACTUAL Total Operating Income: $222,823 prev: $197,871

ACTUAL Total Operating Expense: ($266,435) prev: ($243,823)
BUDGETED Total Operating Expense: ($225,681) prev: ($205,828)

Notable Expenditures:

$1,000 for Reserves Study Update 2026

Reserve Account Summary

Opening Balance [09/01/2025] $319,731 prev: $332,983
Credits this Period $16,348 prev: $16,348Debits this Period ($0) prev: ($30,251)
Change in Value this Period $652 prev: $651

Closing Balance [09/30/2025] $336,731 prev: $319,731

Notes about Reserves:

Primary Reserve balance: $226,901 prev: $221,568

Plumbing Reserve balance: $109,179 prev: $97,512

End of Treasurer’s Report

Motion to approve treasurer’s report: Clyde 2nd: Jesse Unanimous

Owner’s Forum:

La Donna Q asked if we would forgive her HOA dues through January 2026. Clyde move that we do this and Jesse seconded. The vote was unanimous.

Committee Reports:

MMRC:

The two small pieces of sidewalk on the west side of the building will be replaced soon.
The latest plumbing replacement (05 stack) was the least expensive yet.
Cost of replacement 0f broken glass at Mia Bella: $1,243. Replacement approved.

New business: none

The meeting adjourned at 5:40 PM.