Minutes From Budget Committee Meeting November 4 2009

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<ul><li><p>8/9/2019 Minutes From Budget Committee Meeting November 4 2009</p><p> 1/5</p><p>Key Royal Condominium Association, Inc.Budget Committee Meeting</p><p>November 4, 2009</p><p>Minutes of the Budget Committee Meeting</p><p>Date of Meeting: November 4, 2009Time of Meeting: 7:00 P.M.Place of Meeting: Key Royal Clubhouse, 8204 Key Royal Lane, Naples, FL. 34119</p><p>Vice President Sharon Stites called the meeting to order at 7:00 P.M.</p><p>Call to Order</p><p>Roll Call: Vice President Sharon Stites were present. President Ken Stephens andSecretary/Treasurer Joseph Kalinowski were absent.</p><p>Also present was Susan L. Bedyan and Steve Rodeiro; Property Managers.</p><p>Introduction and Process</p><p>(Vice President Sharon Stites presided over the meeting due to a recent accident suffered byPresident Ken Stephens).</p><p>(Sharon began the meeting by re-arranging the agenda by moving Owner Questions (item #4)up to item #3which is currently posted as Items to Review For Next Meeting if Necessary).</p><p>Vice President Sharon Stites spoke about the following items:</p><p>1. The current state of our foreclosures and the success our attorney John Goede has hadwith collecting delinquent assessments.</p><p>2. The preliminary budget; the current year expenditures vs. a wish list for next year</p><p>which includes: replacement landscaping, repairs to the Tiki Hut roof, new buildinglights, photo cells on buildings, and the possible installation of a barrier arm for the gate.</p><p>3. The creation of a strategic planning committee and volunteers who may be interested.</p><p>4. No anticipated assessment fee increase for 2010.</p></li><li><p>8/9/2019 Minutes From Budget Committee Meeting November 4 2009</p><p> 2/5</p><p>The Preliminary budget was reviewed by line item:</p><p>1. Office Supplies; includes copier, toner postage,-total expenditure $ 7,500.00.2. Licenses, taxes, fees (slight increase) from $1985.00 to $2,000.00.3. Accounting fees- no increase.4. Legal fees-have exceeded what was previously budgeted due to the increase of court</p><p>actions being filed by John on behalf of the Association due to delinquencies.</p><p>Steve clarified that we have spent $ 6,790.00, but actually budgeted &amp;7,200.00, and mayreduce legal fees to $ 2,000.00.</p><p>5. Miscellaneous, $2,500.00 spent to date, this includes, screening costs, etc., -increase to$3,000.00</p><p>6. Bad debt expense-Steve spoke about delinquencies to date, but currently $143,900.00 +/-Have to include in the budget what we wont be collecting in the next year. Will beincreasing from $17,500.</p><p>7. Office &amp; Clerical expenses-last year $46,900.00 has increased slightly, this includessalary, insurance, taxes, increase of health insurance.</p><p>8. Maintenance/Custodial-( one full time person, and an occasional part time person) therewill be a decrease in the next year; from $ 55,980.00 to $ 45,000.00. ( no health insurancein this case).</p><p>9. Management fee-no increase for the upcoming year.10. Maintenance/janitorial supply-no increase.11. General repairs and maintenance-buildings are aging, repairs increase.12. Pool Operation &amp; Maintenance-no change;; a lot of expenses this year, but we are</p><p>confident that we can stay with the current budget13. Fitness Center-There will always be the need for repairs, will increase the budget for next</p><p>year. (currently awaiting repairs).</p><p>(Sharon interjects and mentions that we are still currently entertaining proposals from anumber of vendors; security, landscaping, etc.).</p><p>14. Cable television-no change.15. Fire Equipment-decrease due to no lightning strikes.16. Lawn Maintenance and Landscaping- currently entertaining proposals all somewhat in</p><p>line with each other, others slightly higher with irrigation which we currently pay aseparate company for; anticipated increase (slight).</p><p>17. Trash Removal-18 Extermination-not taking bids, satisfied as is.19. Entry Gate-anticipating some enhanced safety features, therefore increasing the budget</p><p>for the upcoming year.20. Security-entertaining proposals; currently $31, 400-31, 500. May increase for special</p><p>circumstances, i.e. occasional pool guard.21. Carport/Parking-for damage; no change.22. Ingress/Egress-Shared maintenance with Laurel Lakes.</p></li><li><p>8/9/2019 Minutes From Budget Committee Meeting November 4 2009</p><p> 3/5</p><p>23. Insurance-due for renewal, entertaining current proposals and slight decrease forupcoming year even with an increase of coverage. No decision yet.</p><p>24. Telephone-less budgeted last year. Projection.25. Water Sewer-less than last year. Projection. Steve and Susan explained the credit we</p><p>received for 2-3 months due to an over ride of a county water valve that occurred at thefault of some workers and resulted in bills to the Association in the hundred dollarranges as opposed to the usual thousand dollar ranges.</p><p>26. Electricity-?27. Reserves-total expenses with reserves-$ 951,004.00 water reimbursement income, our</p><p>total estimated operating expenses for 2010 are $862,164.00-bottom line - our fees willnot increase.</p><p>Questions &amp; Comments from Owners</p><p>Charlie Miller points out a discrepancy within the painting/exterior walls estimatedremaining life years which needs to be corrected.</p><p>Susan King mentions that there is no income line represented on the budget and asks whysince we do rent out the clubhouse for after-hours private parties and that the incomeshould be shown as a separate line item.</p><p>Charlie Miller mentioned that he does not believe the Association should charge for theuse of the clubhouse.</p><p>Susan King asked why there is a charge for movie night and clarification was made sincemovie night is arranged by volunteer residents in the community.</p><p>Property Manager Susan Bedyan informed the residents that as of tomorrow (November5, 2009), the Association will begin collecting the rent from a second delinquent unitowner.</p><p>Vic Burnett suggested The Whitestone security group; a vendor we currently entertaineda proposal for, but whose fees are higher than what we are currently paying.</p><p>Charlie Miller commented that he feels that it is wonderful that our maintenance fees are</p><p>still under $800.00 a quarter and Sharon agreed and commended Presidio for thewonderful job they have done with regard managing the property.</p><p>A conversation arose about controlling the ducks and how to prevent people from feedingthem and/or the possibility of having them removed from the community; pros vs. cons.Adjourn</p><p>The meeting was adjourned at 8:41 p.m.</p></li><li><p>8/9/2019 Minutes From Budget Committee Meeting November 4 2009</p><p> 4/5</p></li><li><p>8/9/2019 Minutes From Budget Committee Meeting November 4 2009</p><p> 5/5</p></li></ul>


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