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SUNWATCH ON ISLAND ESTATES President Lars Warn called the meeting to order at 3 PM. Board members present were Bob Burwell, Ben Givens and Lars Warn. MINUTESMinutes of the May 19, 2003 meeting were approved as presented. FINANCIAL REPORTSecretary/Treasurer Bob Burwell reviewed the July 31, 2003 Financial Report. The Operating Account had a balance of $62,176.09; however $18,836.61 of that amount was in Prepaid Owners Fees. The Reserve Account had a balance of $234,322.34. Total expenses and reserve funding for the first seven (7) months of 2003 were $240,815.48 compared to a budget of $272,860. Two owners were delinquent a total of $772.47 in monthly maintenance fees. MANAGEMENT REPORTGeorgia Stone from Resource Property Management was introduced by Lars Warn. She reviewed her report dated August 22, 2003. CORRESPONDENCEThe following note was from the suggestion boxes: Cliff & Deanna Snedeker – Unit #1003 listed nine (9) maintenance concerns and stated that it appears that very little has been done since Resource Property Management took over. The Board noted that the note was dated August 6, 2003, Resource Property Management started July 1, a little over thirty days before the note was written, and that several of the items listed were being addressed. Georgia Stone was instructed to review the note and follow up on the suggestions. SALE AND LEASE APPROVALS
The following sale was approved: Joe Giacomini, reviewed the July 7, 2003 Lightning Committee final report and stated that three (3) bids had been received by our consultant, TEAMWORKnet, Inc. It was moved and seconded to accept the lowest bid from Coastal Electric Constructors, Inc. in the amount of $9,878 to install a Transient Voltage Surge Suppression (TVSS) as recommended by TEAMWORKnet, Inc. to be charged to #6010 Contingency. Motion carried. Jo Warn, Chairperson of the Landscaping Committee recommended we accept a bid from our current landscaper. It was moved and seconded to approve a one (1) year contract beginning July 1, 2003, at $1,676.70 with Cut-Rite Lawn & Landscaping. Motion carried. Jo Warn further recommended we purchase mulch which is over and above the landscaping contract. It was moved and seconded to authorize the purchase of up to 149 yards of mulch at $42 per yard. Motion carried. No members of the Air Conditioner committee were present; however the Board requested that the committee make specific recommendations as to the standards for replacement of condensers with a "scroll" type in order that those standards can be a part of our Rules and Regulations. OLD BUSINESSNone NEW BUSINESS
It was moved and seconded to confirm a contract with Munyan Painting for the following: The Board noticed that some automobiles are in our parking lot with “FOR SALE” signs in violation of our Rules & Regulations. Georgia Stone was instructed to write letters to the owners instructing them to remove the signs. In preparation for the Annual Meeting in November, President Lars Warn suggested that our By-laws be amended to increase the Board from three to five members and further that requirements to change the By-laws be reduced from approval by seventy-five (75) percent of the owners to fifty (50) percent. Georgia Stone was instructed to take the necessary steps to vote on those proposals at the Annual Meeting. NEXT MEETINGThe next meeting is scheduled for 9 AM, Wednesday, October 29, 2003. ADJOURNMENTThere being no further business, the meeting was adjourned. Robert A. Burwell, Secretary/Treasurer |