Minutes of the Board of Directors - April 22, 1998
Agenda
Call to Order Treasurer's Report Action Items Committee Reports Status and Discussion Manager's Report New Business Next Meeting Adjournment Subscribe
all to Order
April 22, 1998
President Joe Morris called the meeting to order at 7:05 p.m. in Unit 109. Present were other board members Eileen Collins, John Doolittle, Elizabeth VanderPutten and Waldemar Wajszczuk plus Property Manager, Walter Krolman and, for a portion of the meeting, resident, Percy Rodriguez.
reasurer’s Report
The Lauren's finances continued to be very healthy in February. The Lauren's financial statements show that the capital reserves remained steady at $344,088. The total cash on hand as of February 28 reached $459,167 with $431,013 as net available cash. These amounts were up $22,200 and $30,712 respectively since January.
The amount of income The Lauren received in February was within a few dollars of the anticipated amount.
As for expenses, five of the seven operating budget categories were under anticipated amounts for the month. Utilities were under budget by nearly $2700, while Maintenance was $584 less than expected. Salaries were under by $745, Contracted Expenses were under by $1100, and Administrative expenses were under by $1264. Only Professional Services and Insurance and Taxes Maintenance Expenses were over budget. Professional Services costs were higher than expected due to payment of the Association's audit which was originally budgeted for March. Insurance and Tax Expenses were over budget by $939 due to $986 in income taxes the Association had to pay.
No capital expenditures were paid out during the month of February.
There were no investment activities in February.
Waldemar J. Wajszczuk, Jr., Treasurer
ction Items
Request for Satellite Dish
The Board heard a request to allow a satellite dish to be placed on the roof so a resident can receive a cable television service. The Board agreed to consider this request and its implications.
Lobby Renovation
A Letter of Agreement for Construction Management Services between the Lauren and Georgetown Design is being drafted. As soon as it is signed, he renovations will begin. The Board has also requested Georgetown Design provide it with specifics on material and color schemes suggested for the elevator interiors.
Inquiries were raised by Board members about measures that will be taken to control dust during the renovation process. It was agreed that the lobby HVAC filters should be cleaned more frequently in order to assure they did not become clogged with construction debris.
HVAC Maintenance Contract
The Board decided to approve a contract which stipulated there would be six service visits annually.
The airflow in the Laundry Room is being studied.
The Board authorized President Morris to decide whether to upgrade the ventilation in the Laundry Room and replace the fan with a more powerful one.
There were no committee reports.
tatus Review and Discussion Items
Annual Meeting
Reports from the Marketing, Security, Zoning, and Landscaping Committees will be presented during the Annual Meeting. Candidates are being sought to complete the slate of nominations for the new Board of Directors.
roperty Manager's Report
New Chiller
Walter Krolman indicated the new chiller was running a lot quieter than the previous one. He added the motor’s pitch is slightly higher.
Dead Tree
The City has been asked to replace the dead tree in the front of the building on 20th Street. .
ew Business
There was no new business.
The Annual Meeting of the Lauren Condominium Association will be Monday, May 18 at 7:30 p.m. at the Washington Marriott Hotel, 1221 22nd Street, N.W.
The meeting was adjourned at 8:30 p.m. Executive session followed.
Respectfully Submitted, John Doolittle, Secretary 3672 Winfield Lane, NW Wash, DC 20007 Phone/Fax: (202) 333-1479 baker-doolittle@erols.com
To receive a copy of this and future Minutes via e-mail, send Property Manager Walter Krolman a request at info@lauren@org.
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