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MINUTES OF THE BOARD OF DIRECTORS
JULY 20, 2005
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MAY 9, 2005 MEETING
The Board approved the Minutes as a true record of the meeting.
RATIFICATION OF OFFICERS OF BOARD OF DIRECTORS 2005/2006.
- Derek Drummie, President
- Joseph Morris, Treasurer.
- Dwight Clarke, First Vice President
- Elizabeth VanderPutten, Secretary
- John Filice, Second Vice President
TREASURER'S REPORT
Net cash available at the end of June was $770,127.55.
For year to date operations, through the end of June:
- total income was $439,141 which is under budget by $12,361;
- total operating expenses were $343,373, which is under budget by $16,021;
- capital expenditures were $37,840. NOTE: No capital report provided for June, but invoices do not reflect any capital expenditures in June
Certificates of deposit activity during June was as follows:
- 6/24/05- Independence Federal Savings. A 9 month CD was rolled over. Rate is 3.250%. Balance at renewal was $89,705.30
- 6/25/04-Key Bank. A 3 year CD was rolled over. New rate has not yet been received. Balance at renewal was $67,477.59
Fund balances at the end of June
- operating fund balance as of the end of June 2005 was $103,987
- reserve fund booked balance as of the end of June 2005 was $691,431
Related Matters
The Audit is not yet finished and is still waiting for some information from Koger Management. Treasurer Morris said this was a cause for some concern since this is the second year that there has been delay in getting everything to the Auditor. The Auditor does expect to have a draft report by the end of the July. As a result of last year's management notes in the Audit, Koger did change some reports.
MATTERS ARISING FROM THE MEETINGS OF MAY 9, 2005
HVAC Committee
President Drummie announced his appointment of a HVAC Committee and distributed a general charge. He named John Filice as Chair and Dwight Clark also from the Board, Eileen Collins and Brian Larkin as members. The charge he gave them was "to advise the Board in relation to planned maintenance and/or replacement of the Lauren HVAC systems, with special emphasis on heating/cooling systems and to make recommendations.
HVAC Consultant: Stage II Progress
Three bids were received to replace the Whalen Units that ranged from $81,225 to $114,375. in the "04" Tier Living Room Convector Replacement Units. Given that the Committee on HVAC was established and that a second consultant will be hired to review the recommendations of Mr. McNabb, the Board agreed to postpone any action on the bids. The bids will be given to the Committee and will be made available to the new consultant.
Hallways
The Board asked that the noise from the fans in the 9th hallway be fixed as soon as possible. The Manager will ask Unitemp to fix on Thursday.
Jo Morris and Brian Larkin pointed out that the ninth and tenth floor have had serious degradations in cooling on the upper floor hallways since the newest work was done. Brian Larkin presented data on this, comparing this year with last and the level of cooling on floors 2, 6 and 10 at 1:00 AM. The Manager will share the data collected with the engineers.
In-Unit Air Conditioning Advice on Request
Letter will go to the owners asking if they want to have consultation with about replacements for thermostats and other within-unit HVAC items. The Lauren will cover the time of the consultant, but any costs of buying equipment is the responsibility of the owners. The goal is to have this done during the last two weeks of August.
Mold / Mildew
Don Benedick reported that mold in his unit was not been present during the cooler times, but has returned. The test will now take place to determine the nature of the mold.
COMMITTEE REPORTS
Wi-Fi Committee
No Report
Neighborhood trash pickup
No Report
Window Replacement Committee
No Report
Decorating Committees
Roof Garden Cushions and Furniture Stains
No report
Garage Door-Review of Process and Outcome
No report
ACTION ITEMS - IN ADDITION TO THOSE FOUND IN 3.0
None
OTHER NEW BUSINESS
Lauren Condominium Photo Contest
The Board approved a proposal by Lauren Webmaster Brian Larkin to sponsor a Lauren Condominium Photo Contest. The Board will invite residents and owners to submit pictures relating to The Lauren. Winning photographs will be displayed on the Lauren home page. Brian Larkin will prepare a flyer to be distributed to residents and posted on Lauren bulletin boards.
President Drummie suggested that a Board announcement be sent to residents and that it also include an invitation for owners and residents to sign up for email notification of minutes, meetings etc.
Elevators
Many residents have reported long delays while waiting for an elevator. The manager explained that they are having serious problems with the relay. He reported that elevator repair people were here on several occasions, but could not duplicate the problem. There is the possibility that this is related to heat and humidity but there no clear evidence of that. The Board told the manager to make this a highest priority.
Reverse Mortgage and Possible Code Infractions
Carolyn Mano raised some issues concerning difficulty in obtaining a reverse mortgage. She also distributed a list of other concerns to board members and others present at the meeting.
Deborah Becker joined in asking if there were any extent building code violations. President Drummie said there were none of which the Board was aware that were not being addressed. He went over the recent history of hallway upgrading during the process of which it was discovered that fire dampers in the vents on several floors were missing. This is right now being correct. He asked if she or anyone knew of any other code infractions. No one indicated knowledge of anything else.
NEXT MEETING
The next meeting will be Monday, August 8, 2005.
ADJOURNMENT
The meeting adjourned at
EXECUTIVE SESSION
Following the Board meeting on July 20, 2005, Derek Drummie resigned as President and member of the Lauren Board of Directors. The Board met on August 1, 2005 to confirm that Dwight Clark, First Vice President, would assume the position of President. John Filice moved to First Vice President. Elizabeth VanderPutten remains Secretary and Joseph Morris Treasurer.,
Since Committees serve under the direction of the president, Dwight Clark re-appointed the HVAC committee with John Filice as Chair and Dwight Clark, Eileen Collins and Brian Larkin as members.
The Board also appointed Roger Hirschland to the vacancy on the Board.
RESPECTFULLY SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
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Minutes and other Lauren information may be found on The Lauren web site http://www.lauren.org/minutes.htm