The Lauren Condominium Association

Minutes of the Board of Directors - April 29, 2003

TREASURER'S REPORT

Net cash available at the end of March was $583,212.54

For year to date operations, through the end of March was:

• Total income was $203,470, which is under budget by $3,075.  Some of this is the result of inaccurate posting of vending income and interest income.  The Board noted, however, that some items are incorrectly listed. 

• Total operating expenses were $225,662, which is over budget by $14,059 due mainly for HVAC maintenance and payroll. 

Capital expenditures through March were $91,995, which represent bills from 2002 that were received in 2003.

Certificates of deposit activity during March was as follows:

• 3 month CD- Bluebonnet Savings Bank. Renewed 03/07/03. Renewal balance was $54,640.06. Interest rate is 1.150%
• 276 day CD- Independence Federal Savings Bank. Renewed 03/20/03. Renewal balance was $86,444.52. Interest rate is 1.600%

The Board asked the manager to work with Koger to reclassify some of the current asset accounts to capital accounts, maintaining a more appropriate level of operating assets. 

The Board also asked the manager to review the budget to make ensure that the budget assumptions are still valid and that the imbalances are normal fluctuations and not indicative of a budget overrun. The Board asked that this be completed before the annual meeting.

ACTION ITEMS 

Annual Meeting

The Annual Meeting will be held May 22 at the Washington Marriott (1221 22nd St., N.W.) at 7:00PM.

Renovation Requests

Following submission of additional information, the Board approved the renovation requests for unit 1005.

The Board approved installation of washer/dryers in 408 conditioned on the applicant signing the required release document.

Building Engineering

The Board approved an infrared survey of the main electric systems of the building as a safety and preventative measure.

The Board voted to postpone decisions about a Power Quality Survey proposed by G&L.

Roof Garden Lighting

The Board approved a modified request for approximately $7,000 for lighting in the expanded area of the roof garden. 

The Board again noted that lighting in the roof garden does not always automatically turn on at dusk and off at dawn as it is supposed to. The Board asked the Manager to find out why and to ensure that it does work properly.

COMMITTEE REPORTS 

Security Committee

Committee Chair Roger Hirschland presented an interim report of the security committee report.

The Board discussed the Committee’s recommendation that the Lauren admission policy should be reviewed. The social climate and situation has changed since the current policy was adopted in 1996.  The Lauren now has very few non-residential units. Security concerns following 9/11 and demographic changes in the neighborhood suggest that the relatively open-door admission during the day may no longer be appropriate. 

• The Board agreed that owners should be surveyed about changing the admittance policy. 

In terms of operational issues, the Board placed the top priority on the side doors. These doors are often open or ajar and the warning indicator lights at the desk do not always work. 

• The Board authorized the replacement of the doors on an immediate basis if they are too big to properly and securely close.

• The Board asked the manager to ensure that the indicator lights always do work.

The Board discussed it long time policy of advising residents not to go to the roof in case of a fire. The D.C. Fire Department had strongly recommended this action since, at the time, their ladders would not reach that height and helicopters rescue during a fire is unlikely at best. 

• The Board asked the Security Committee to review this policy with the fire department.

The Board discussed possible roles for Lauren and for the Security Committee with regard to neighborhood security issues.  

• The Board encouraged owners and residents to take an active part in Dupont Circle neighborhood community security issues and expressed its appreciation of actions taken by owners and residents. 

• The Board will post notices of Dupont Circle neighborhood community and police meetings.  

• The Board will ask the Lauren Webmaster to update the web page with a calendar.

The Board thanked the Security Committee for the interim draft.  The Board will read the report and send comments before the next meeting.

REVIEW STATUS AND DISCUSSION ITEMS

Heating and Air Conditioning (HVAC)

The Board noted with appreciation that there appears to be a more even distribution of water flow within the building.

The Board noted a number of continued building and engineering concerns.

• There is still a sound in the air conditioning/heating system.

• The air conditioning system went off on April 28, possibly due to the variable fan being set too low. It should be thoroughly checked before hot weather arrives. 

• The hallway ventilation system was installed about April 15.  However, it was shut down on April 28^th to allow installation of new control procedures. This should be finished as quickly as possible.

• The laundry room ventilation system is still not fixed or replaced.

• Ventilation in the boiler room still needs to be improved before the heat of summer again causes malfunctions in the circuitry and other systems. 

Resident and Staff Interaction

The Board discussed a rule regarding resident and staff Interaction that the Lauren's attorney had drafted before the preceding meeting, and the attorney's answers to questions the Board had about the draft. No action was taken pending further discussion and a vote at the next meeting.

NEXT MEETING

The next meeting will be the Annual Meeting on May 22, 2003. 

RESPECTFULLY SUBMITTED

Elizabeth Anne VanderPutten, Secretary

TO SUBSCRIBE

To receive a copy of this and future Minutes via e-mail, send a request to Property Manager Walter Krolman at manager@lauren.org

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