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The Lauren Condominium Association |
Minutes of the Board of Directors –
September 26, 2002
Call to Order
President Dwight Clark called the meeting to order at 7:00 PM. Present were Board members Joseph Morris, Elizabeth VanderPutten, and Rebecca Kane plus Property Manager Walter Krolman. Also present for part of the meeting were Roger Hirschland, Brian Larkin, Richard Lebovitz, Meaza Tessema, Don Benedict and Bruce Branson.
Treasurer's Report
Net cash available at the end of July was $864,506. For year to date operations, through the end of August: total income was $536,071 which is under budget by $7,426; total operating expenses were $487,192, which is under budget by $63,571; capital expenditures were 84,245.
The Board continues to discuss possible reasons for the operating surplus to date. It is likely that as the electric bills for the summer and the new building insurance bills are paid, the surplus will diminish. However the Board will pay careful attention to the projected surplus when the new budget for 2003 is developed. In addition, the Board raised issues about comparability between this year’s budget format and the one’s prepared under the previous management firm. The Board requested that the auditor attend the next Board meeting to discuss these issues.
Security Walkthrough
The primary purpose of this Board meeting was to conduct the security walkthrough of the building. The Board members and Security Committee members Roger Hirschland and Brian Larkin visited all part of the building.
While
the Security Committee will prepare a full and detailed report, the Board
did note a few areas of special concern. The
exit door to N street does not always automatically close, especially in warm
weather. This creates a serious
security breach and the Board asked the Property Manager for a solution. The cameras and particularly the emergency voice system in
the basement did not seem to be working
properly. The Board also asked that this be checked immediately.
ADA Access to the building
The Board determined that there was no opportunity to purchase a unit on the
ground floor that would allow access to the building without changes in the
lobby. Therefore, the Board
accepted a bid from Monarch to install the elevator lift and to put the ramp in
the basement. The bid was
considerably lower than previous bids by other companies.
Heating and Ventilation
The Board reviewed the report from G&L that the valves in the air conditioning system were corroded and could not be opened or closed from their current position without causing a high potential for water damage to Lauren units. In addition, insulation of pipes in various tested tiers is in poor shape. The Board accepted a bid from G&L to replace the valves and insulation in some areas. This work will begin in mid-October after the air conditioning is turned off and heat has not yet been turned on for the winter season.
Roof
Garden
No decision was made on a grill.
Stairwells
The Board accepted a bid from Estrella & Chahua Painting to paint the
stairwells. The work will begin in
October.
Next meeting
The next meeting of the Board is scheduled for Thursday, October 24, 2002.
Respectfully Submitted
Elizabeth VanderPutten Secretary
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Property Manager Walter Krolman at manager@lauren.org