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MINUTES OF THE BOARD OF DIRECTORS
FEBRUARY 22, 2007
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MEETINGS OF JANUARY 18, 2007
The Board approved the January 22, 2007 minutes as a true record of the meetings.
TREASURER'S REPORT
Net cash available at the end of December was $889,664.
For year to date operations, through the end of December:
- total income was $983,854 which is under budget by $28,918;
- total operating expenses were $817,677, which is over budget by $21,669;
- capital expenditures were $60,640.
Certificates of deposit activity during December was as follows:
- United Bank- 1 year CD was renewed. Balance at renewal was $93,691.46. New maturity date is December 27, 2007. Rate/yield for current term is 4.62/4.70 respectively.
Fund balances
- operating fund balance as of the end of December 2006 is $88,168
- reserve fund booked balance as of the end of December 2006 is $862,342
Audit Status
The Board had asked the audit firm to do an immediate survey of our accounts with Koger to identify any problems of missing or smaller than expected accounts. They will do this.
The Auditors will send a new draft for 2005, but this will still not be a clean audit due to some lack of documentation.
Outstanding accounts as transferred from Koger to Simmons. There are two accounts at BB&T under the current control of Koger that have not yet been transferred from BB&T. The condo lawyer has written to Koger requesting the transfer of these funds within one week.
D.C. Taxes--Status of Resolution
The manager has spoken with DC tax officials. For the year 2004, all issues should be totally resolved.
For 2001, one payment that was written but not deposited has been paid by the Lauren. The city will however charge late fees and interest.
For 2000, in some cases, the city assigned payments to the wrong year. In addition the Lauren has to provide proof of four quarterly estimated payments. The Lauren has the front of three checks and the accompanying bank statement, but the city also requires the back of the check. However, the bank does not have these anymore. The Lauren does have the front and rear of the fourth check which was written on a different bank.
The manager will continue to follow up with the D.C. Office of Tax and Revenue.
MATTERS ARISING FROM THE MEETINGS OF JANUARY 18, 2007
Replacement Valves
Lauren Chief of Maintenance Cacho Salinas discussed problems with valves in the building in four areas. The most important are three main valves to the building for water: feeder, bypass and distributor. To fix these, the city has to turn off the water to the Lauren. This would be a full day of work. None of these are working perfectly so that water cannot at this time be completely turned off in an emergency.
In addition, there are shut off-valves on the tenth floor for each tier. These are located within residents' units. Some of these valves are not functioning completely, which again makes it difficult if not impossible to shut off water. To repair these, the water to the building needs to be turned off. The Board also discussed problems with the placement of the valves. These are inside units. The Board discussed whether it would be feasible to move these valves to the hallway, thereby reducing the imposition on the owners when those valves need to be turned on and off. There is also the possibility that gaining access to units in case of emergency might be difficult.
The Board agreed that the three main valves and the tier valves need to be replaced quickly. The manager will also get a bid to see what it would cost to move the tier valves out of residents' units into the hallway where they would be be more readily accessible. The Board will vote by email on moving the tier valves after the bids are in. The Board noted that the replacement work should be done as quickly as possible in order to minimize the inconvenience to residents.
There are also two problems with the hot and cold water valves that make it difficult to totally drain the pipes. These repairs need to be done, but are not as pressing as the above two. The board postponed action on these two areas.
ACTION ITEMS IN ADDITION TO THOSE FOUND ABOVE
Annual Meeting Date
The 2007 Annual Meeting of The Lauren Condominium Association Owners is scheduled for May 10.
Finalize Proposed Rules to Govern Contractors Work in Building
The rules for contractors are in final phase of editing.
Trash chutes
Cacho reported that once or twice a week, someone tries to put large items through the chutes, blocking them. This creates several problems, including potential fire hazards. The Board asked the manager to try to find chute entrance covers perhaps similar to those used by the USPS for mail drops that limit the size of containers that may be inserted.
Ceiling Leak in Pool Room
The sealing around the floor edges in Unit 1006 (the room under the pool) is leaking. The manager will ask Seale to submit a bid and replace it. This was last done in the 1980s.
COMMITTEE REPORTS
HVAC Committee
Convector Pan Coating
The Board discussed a proposal from Ibeas, which was very cost effective compared with other bids. Because of the need to turn on the HVAC in mid-April, it is unlikely that more than three floors, and perhaps only two, can be done this season. Management will work closely to ensure that regular work functions are still completed by Cacho.
Quality of Life
No Report
Decorating
The President appointed a Decorating Committee to include John Filice, Dwight Clark, Roger Hirschland and Erin Erlenborn (chair). One or two other members may be added.
REVIEW AND DISCUSSION ITEMS
Rules to Govern Contractors Work in Building
The Board approved in principle the Proposed Rules to Govern Contractors Work in Building. These will be distributed to all owners and tenants. The goal is to ensure that renovations to units do not unduly affect the quality of life of other tenants and owners.
Desk Staff-Training
Desk Staff have been updated on various policies including oversized packages in the hallway, keeping track of HVAC temperature, and rules concerning non-admittance of dogs. Desk personnel have been given a handbook on security procedures. They are also having review sessions on emergency procedures for fire, leaks, and blackouts.
Security Cameras
Additional video equipment has been ordered from SETEC for $3,058
Discussion of blackout
On February 8, a transformer under N Street malfunctioned and left the Lauren in the dark for 16 hours. Although the situation was disruptive, the Lauren was lucky that no serious damage was done. The Board commended the staff for their work during the blackout. The Board also commended the many owners and residents who helped each other in many ways: carrying bags up the stairs, checking on neighbors, putting lights in the hallway etc.
The Board discussed how to better prepare the Lauren for possible emergencies.
- The Board reminds owners and residents that they should stock their homes with emergency supplies, including flashlights.
The Board will enlarge its own supply of small flashlights maintained at the front desk. The building will also replace all batteries in the hallways – which at their most efficient will stay on for about four hours. While most of the units seemed to work for four hours, problems were reported with the emergency lights on the ground floor.
The Board will also investigate the possibility of having a generator that could provide short-term emergency power.
NEXT MEETING
The next meeting will be held on Thursday, March 22, 2007 at 7 p.m. in Unit 908.
ADJOURNMENT
The meeting was adjourned at 9:40 PM.
EXECUTIVE SESSION
There was no executive session.
RESPECTFULLY SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
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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