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MINUTES OF THE BOARD OF DIRECTORS
November 11, 2004
President Derek Drummie called the meeting to order at 7:00 P.M.
Present were Board members Elizabeth VanderPutten, Joseph Morris and Dwight Clark; property manager Walter Krolman; and for a portion of the
meeting unit owners Eileen Collins (502) and Brian Larkin (1004).
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE OCTOBER 15, 2004 MEETING
The Board approved the Minutes as a true record of the meeting.
TREASURER'S REPORT
Net cash available at the end of September was $771,746.76;
For year to date operations, through the end of September:
- total income was $639,983 which is under budget by $8,339;
- total operating expenses were $498,282, which is under budget by $34,038;
- capital expenditures were $22,070.
Fund Balances
- operating fund balance as of the end of September 2004 is $121,474
- reserve fund booked balance as of the end of September 2004 is $629,338
Certificates of deposit activity during July was as follows
- Independence Federal Savings. 7 month CD. Renewed 9/21/04 with a maturation date of 6/24/05. Renewal amount was $88,344.04. Interest rate is 2.100%
Other
- The board asked the Manager to find out why the monthly statements are not delivered by the 10th of the month at the latest.
MATTERS ARISING FROM THE MEETINGS OF OCTOBER 14, 2004
Vending Machine
A certified letter was sent but no response has been received. The Attorney recommends that we wait before removing the machine until the Lauren gets an official response.
Main Entrance Accessibility Design Options
The Board discussed some options, but at this time the discussion is at the level of feasibility and possibility.
HVAC Consultant Stage II Progress
The Board asked that the engineering consultant provide a schedule of tasks.
Hallway Exhaust Vents Engineering Opinion vis a vis DC Code
As part of an experiment to change the flow of air in the corridors, the Board authorized closing of the vents. The DC BLRA gave the condo a notice of possible violation. The building engineer replied that the building is not in violation.
Fire Damper Survey
As a result of the survey, it was determined that there are three missing dampers. The Board asked the manager to make the replacement of the fire dampers a high priority.
Hallway Air Vents
Almost all the air vents or registers are defective in the sense that they cannot be moved. The manager will check with the consulting engineer as to the best solution.
Recirculating pump
The Board authorized the installation of the pump and approved the purchase order from Joines Enterprises, Inc.
Closed Loop Water Balancing
This will begin on Monday. The Board asked that the before and after flows be recorded and reported to the Board. This should provide a more even flow of heating and cooling throughout the building and perhaps reduce the noise in the system.
Heating Components
By November 19, the system for altering the flow and water temperatures should be in place. This should result in coordinating the amount of heat supplied by the heating system in relation to the outside air temperature.
Sunderland Place Security
The management is still investigating ways to make the Sunderland entrance more secure or reduce the likelihood of loitering.
COMMITTEE REPORTS
-NONE-
REVIEW STATUS AND DISCUSSION ITEMS- IN ADDITION TO THOSE FOUND IN 3.0
The Board commended Brian Larkin for the web site, especially the inclusion of Ruta's wedding pictures. Owners and residents are encourages to contact the Lauren Webmaster about posting items on the web site that might be of interest to the community including weddings, births and other major events.
NEW BUSINESS
2004 Budget
The Board discussed and did a preliminary analysis of the Lauren Budget for 2005.
NEXT MEETING
The next meeting is scheduled for Thursday, December 2, 2004 at 7:00 P.M.
ADJOURNMENT
The meeting adjourned at
EXECUTIVE SESSION
Followed the meeting the Board met in Executive Session.
RESPECTFULLY
SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
To receive e-mail copies of Board Minutes, send a request to Property Manager Walter Krolman at manager@lauren.org
Minutes and other Lauren information may be found on The Lauren web site http://www.lauren.org/