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MINUTES OF THE BOARD OF DIRECTORS
JULY 6, 2006
ELECTION OF OFFICERS FOR 2006-2007
The Board met in Executive Session prior to the Open Session and elected the following officers for the coming year.
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President: Roger Hirschland
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Treasurer Joe Morris
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1st Vice President: Dwight Clark
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2nd Vice President: John Filice
APPOINTMENT OF COMMITTEES
HVAC Committee
The President appointed Dwight Clark to head the HVAC committee to study the replacement or upgrading of the HVAC system. He also appointed John Filice and Brian Larkin to the committee. The President asked the chair to coordinate efforts to find other members.
Quality of Life Committee
The president reappointed Jeff Wertkins to head a Quality of Life Committee with thanks
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MEETINGS OF APRIL 17, 2006
The Board approved the Minutes as a true record of the meetings.
TREASURER'S REPORT
Net cash available at the end of March was $856,889.14.
For year-to-date operations, through the end of May:
- total income was $404,861 which is under budget by $8,794;
- total operating expenses were $320,811, which is under budget by $19,454
- capital expenditures were $21,225
Certificates of deposit activity during May was as follows:
- NONE
Fund Balances through the end of May:
- operating fund balance as of the end of MAY 2006 is $119,666
- reserve fund booked balance as of the end of MAY 2006 is $800,836
Audit Status:
The Treasurer reported that one final set of bank statements is still needed to complete our annual audit and that Koger is working on getting it as soon as possible. The Board discussed the delays in completing the audit in recent years and asked the treasurer and manager to consider how to avoid this problem in future years.
Past Due DC Taxes
Joe Morris reported that the Lauren received a bill for back taxes. The manager has conducted a search of payments made since 2000 with the current and past auditor firms and management firm. The Lauren position is that we have paid the majority of taxes. However, the last quarterly payment was made when Zalco, the former manager firm, was closing out. There is a check that was written by the management firm, but never cashed. This was in 2001. The Board asked that the manager ask the auditing firm to handle the matter. The Board asked that they pay the undisputed amount ($1,000 plus fines) immediately and prepare the documentation about what we dispute. The Board authorized the auditing firm to pay the disputed amounts and then negotiate if the firm thinks this is in the best interests of the Lauren
MATTERS ARISING FROM THE MEETINGS OF APRIL 17, 2006
HVAC
Main HVAC System Replacement
The Board charged the HVAC committee to develop a plan for the replacement of the existing HVAC system and short term options for maintaining the system until its replacement.
Unit 1004
The Board and the owners of 1004 have agreed in principle to the installation of new system and the distribution of costs. The order has been placed. Although the time of delivery has not been set, it could be up to six weeks. The board asked the manager to follow through to get as early a delivery as possible.
Whalen Unit Removal for Testing
The Moore report recommended removing a Whalen unit and sending it back to the factory for testing. The results would help the Lauren determine how quickly all units need to be replaced. The Board approved this recommendation.
Prioritization of HVAC Related Projects
There are some short-term projects that need to be done to prolong the life of the various HVAC systems while long range planning is done. The President asked the HVAC committee to report on this at the next meeting.
Accessibility-Lobby Lift and Ground Level
The Board has examined in the light of ADA various options for enhancing access to the building through the front door and the basement doors. The Board did receive bids for making the doors in the garage more accessible by installing automated openings. However, the Board was not sure this would meet the needs of all persons with limited mobility. The Board asked for some bids about what could be done to the front doors without architectural changes.
NEW BUSINESS
Roof Garden
The Board expressed concern about the misuse of the roof. The roof is for the enjoyment of owners and tenants. Groups larger than six must have prior approval and leave a deposit. Glass is never allowed. The board asked that the manager distribute the rules of the roof garden to all tenants and owners.
Unitemp
The Board asked the manager to find a replacement for Unitemp, which is going out of business. Unitemp provides mandatory daily boiler checks.
NEXT MEETING
The date for the next meeting will be announced.
ADJOURNMENT
The meeting adjourned at 9:40 pm
EXECUTIVE SESSION
An executive session followed the open meeting.
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 in the Business Section of The Lauren web site
www.lauren.org/lrn_business.htm