The Lauren Condominium Association
Minutes of the Board of Directors - March 1, 2001
As of January 31, 2001 the Lauren had $727,022.56 net cash available and $691,780.04 in capital reserves. In January, we had income of $63,342 compared with expenses of $80,286 for a monthly deficit of $16,944.
Operating income was under budget by $4,122, while operating expenses were over budget by $18,028.
In January capital expenditures were over budget by $10,242 and were made primarily for the transitional HVAC system. NOTE: This is a fiscal year 2000 expense and will be adjusted by the auditor.
As of January 31, the Lauren had total income of $63,342 compared with expenses of $80,286 for a year to date deficit of $16,944.
In January, two CDs were rolled over; one was redeemed for in the amount of $53,939.93. One CD is expected to roll over in March.
Action Items
Pool Maintenance
The Board considered two proposals from pool maintenance companies.
The Board accepted the proposal from Professional Pool Construction and Service.
The Board also wishes to inform residents that the pool season will end on Labor Day this year due to fall roof maintenance (see Engineering Services item below).
Unit Renovation
The Board considered plans for a unit renovation that requires temporarily shutting off water. The Board accepted the plans.
2001 Annual Meeting
The Board discussed potential dates for the 2001 Annual Meeting.
The Board suggested May 15 or 16 as possible dates. The meeting will be held at the Marriott (on 22nd Street).
Engineering Services
The Board reviewed two proposals from Seal Engineering regarding the roof renovation. One proposal is for the design and preparation bid packages for contractors. The second contract is for compliance and inspection.
The Board asked the Property Manager to investigate options for moving and storing the roof plants during the renovation.
The Board also discussed potential design changes, including extending seating space on the roof.
The Board accepted both proposals.
Bike Disposal
The Board discussed options for the disposal of unclaimed bikes from the bike-room cleanup process. The Board agreed to donate the bikes to charity.
Residents are encouraged to speak immediately to Property Manager Walter Krolman if their bike has been removed from the bike storage area.
Committee Reports
There were no committee reports.
Review Status
Plan to Establish Reading Room in Laundry Area
The Board considered a proposal to install a shelf for books and magazines in the Laundry Room.
The Board agreed to install a magazine rack, which will be cleaned out on a monthly basis.
Property Manager's Report
The Board approved two spot bonuses for desk staff that responded to medical emergencies.
Other New Business
Unauthorized Parking in the Garage
A resident approached the board about installing a system to prevent unauthorized parking in her space in the garage. The Board approved the installation of a chain on the owner's space.
The Board encourages residents who discover someone else parked in their space to call the Police and have the offending vehicle ticketed and towed.
Wheelchair Accessibility
The Board considered a proposal from a resident regarding wheelchair access to the building. The Board instructed the Property Manager to research possible solutions.
