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Home Newsletter > Current Minutes >> Annual Meeting & Board Meeting December 2, 2004 Archive Who's Who What's New Forms Online Key Phone Numbers |
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SUNWATCH ON ISLAND ESTATES President Lars Warn called the meeting to order at 7 PM. Board members present were Bob Burwell, Cliff Snedeker, Susie Thatcher, Lars Warn and Terry Werner. MINUTESMinutes of the November 4, 2004 meeting were approved as presented. ANNUAL BUDGET
The proposed 2005 Annual Budget was mailed to all owners on November 17, 2004 which contained an 8.71% increase in maintenance fees. After the November Board meeting it was determined that invoices totaling $8,975 were charged to Building Repairs in the Operating Account which should have been charged to the Reserves causing 2004 Projected Expenses of $32,749 for Building Repairs. A reclassification of those expenses reduced the 2004 Projected Expenses for Building Repairs to $22,393. It was moved and seconded to amend the proposed Annual Budget reducing #2045 Building Repairs from $32,004 to $23,004. Motion carried. It was moved and seconded to adopt the amended proposed Annual Budget for Total Expenses and Reserve Funding of $513,888 and Total Maintenance Fees of $501,468, a 6.80% increase. Motion carried with three (3) votes in favor and two (2) against. CORRESPONDENCEThe following note was from the suggestion boxes. Ida Schwartz - Unit #705 suggested the Association purchase some grocery carts. The suggestion was assigned to the Maintenance Committee for review. SALE AND LEASE APPROVALS
The following sale was approved: Holiday Decorating Committee - Chairperson Jo Warn reported that the holiday decorating by the Association was complete and requested the all owners place icicles lighting on their balcony railings. Maintenance Committee - Chairperson Mona Cleary reported that they are assessing reports of damage from the summer storms to floors, windows and caulking. OLD BUSINESSIt was moved and seconded to affirm a renewal of a one year contract for landscape maintenance at $1,760.01 per month beginning September 1, 2004 with Cut-Rite. Motion carried. It was moved and seconded to approve the redecoration of the 680 lobby to be paid for by the owners in the 680 building subject to approval by a majority of the eighteen (18) owners in the 680 building. Motion carried. Jill Ellis was instructed to mail letters to the owners requesting approval. NEW BUSINESSIt was moved and seconded to TABLE a contract from Professional Cleaning and Maintenance, Inc. Motion carried. Jill Ellis was instructed to request a complete contract showing the scope of the cleaning and hours per week. It was moved and seconded to accept the proposal of an annual premium of $85,445 for renewal of insurance coverage from Acordia for Real and Personal Property, General Liability, Auto, Crime, Directors and Officers, and Umbrella. Motion carried. It was moved and seconded to accept a proposal from Piper Fire for Life Safety Annual Inspection on All Systems Components. Motion carried. It was moved and seconded to accept a proposal in the amount of $1,883.30 from Stapleton Associates to replace all four (4) trash chute discharge doors. Motion carried. ADJOURNMENTThere being no further business, the meeting was adjourned. Robert A. Burwell, Secretary/Treasurer SUNWATCH ON ISLAND ESTATES The meeting was called to order following the Board Meeting by President Lars Warn. Directors present were Bob Burwell, Cliff Snedeker, Susie Thatcher, Lars Warn and Terry Werner. ESTABLISHMENT OF QUORUMThe Bylaws - Section 8 Quorum requires more than 33% of the units be represented. Since our association has 96 units a quorum requires a minimum of 32 units. Debbie Reinhardt of Resource Property Management verified that 63 units were represented in person or by proxy thereby establishing a quorum. ELECTION OF INSPECTORSIt was moved and seconded to elect Ben Givens, Bud Myers, Tom Smith and Bob Thatcher Inspectors for the Election of Directors. Motion carried. MINUTESMinutes of the December 2, 2003 Annual Meeting were approved as presented. YEAR END FINANCIAL STATEMENTFlorida Statute 718.111(14) requires a year end Audited Financial Statement prepared by a Certified Public Accountant unless waived by the unit owners. The vote by person and/or proxy for a Year End Audited Financial Statement was as follows: 12 FOR the Audit 49 AGAINST the Audit CARRY OVER OF ANY SURPLUS FUNDSThe Internal Revenue Service Administrative Code requires the Association to address the issue of Surplus Funds. The vote by person and/or proxy to Carry Over of any Surplus Funds was as follows: 64 FOR Carry Over 1 AGAINST Carry Over REPORTS OF OFFICERSThe officers gave brief reports. NEW BUSINESSIt was moved and seconded to accept a Letter of Engagement dated November 10, 2004 from Elizabeth Wadsworth, CPA to prepare the "reviewed" financial statements for 2004 and the required tax services. Motion carried. ELECTION OF BOARD OF DIRECTORSThe following were elected to the Board of Directors of Sunwatch on Island Estates Condominium Association for a one (1) year term: Tom AdamsBob Burwell Joe Giacomini Vince Vincent Terry Werner President Lars Warn was thanked by the membership for his loyal and dedicated service. There being no further business, the meeting was adjourned. Robert A. Burwell, Secretary/Treasurer SUNWATCH ON ISLAND ESTATES The meeting was called to order following the Annual Meeting by Terry Werner. Directors present were Tom Adams, Bob Burwell, Joe Giacomini, Vince Vincent and Terry Werner. ELECTION OF OFFICERSIt was moved and seconded to elect Tom Adams as President. Motion carried. It was moved and seconded to elect Terry Werner as Vice President. Motion carried. It was moved and seconded to elect Bob Burwell as Secretary/Treasurer. Motion carried. NEW BUSINESSIt was moved and seconded to authorize a loan from First Community Bank of America in the amount of $86,021.35 payable over twelve (12) months at 5.375% interest for the purpose of paying the Association's insurance premium. Motion carried. NEXT MEETINGThe next meeting is scheduled for 4 PM, Thursday, January 20, 2005. ADJOURNMENTThere being no further business, the meeting was adjourned. Robert A. Burwell, Secretary/Treasurer |