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MINUTES OF THE LAUREN BOARD OF DIRECTORS SPECIAL BUDGET MEETING OF NOVEMBER 23, 2009
The meeting was called to order at 7:35 p.m. by Roger Hirschland. Present were other board members Elizabeth VanderPutten, Dwight Clark, and John Filice; and property manager Walter Krolman.
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MEETING OF NOVEMBER 12, 2009
The Board approved the November minutes as a true record of that meeting.
ACTION ITEMS
The Board discussed a recent article in the Washington Post about the fiduciary responsibilities of condominium boards. Primary among these duties are to ensure that the operating budget is based on a realistic analysis of all projected expenditures, that the capital reserves are consistent with reserve studies, and that the board ensures the building infrastructure, and appearance are maintained. These are guidelines The Lauren has historically followed, and were the goals that guided the development of our 2010 budget as well.
The board adopted the budget discussed at the November 12, 2009, meeting. The 2010 budget includes a 4.62% increase in condo fees. An explanation and a copy of the budget will be mailed to owners within the next few weeks.
OTHER ITEMS
Heating
The Board asked the manager to ensure that the new heating system is operating effectively and at the appropriate settings.
NEXT REGULAR BOARD MEETING
The next regular Board meeting is scheduled for December 15. As usual, the Board invites and encourages owners to attend the monthly meetings.
ADJOURNMENT
The meeting was adjourned at 7:50 p.m.
RESPECTFULLY SUBMITTED
Elizabeth A. VanderPutten, Secretary
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TO SUBSCRIBE Previous issues of Lauren Board Minutes from 1996 through this month are available from www.lauren.org/minutes.htm Other Lauren information may be found in the Business Section of the Lauren Web site www.lauren.org/business.htm |