OF THE BOARD MEETING OF
THE ASSOCIATION OF PELICAN POINT, INC
THURSDAY, October 23, 2014
Pledge of Allegiance: The pledge was recited by all present at the meeting held in the clubhouse at 2465 S. Washington Avenue, Titusville.
Establish Quorum of Board Members: President Randy Malecha, VP Glen Farnum, and Secretary Debbie Stanley were present. Treasurer Carole Burke and Director Jeanette Cullen were absent. Michelle Davis and Lynn Hiott represented Reconcilable Differences and 17 owners were present.
Call to Order: Randy Malecha called the meeting to order at 1:01 pm.
Approval of Minutes:
Financial Report/Collection Update: Michelle stated that through September 30, 2014, the Association has $68,087 in the operating account, with about $7,850 of that being prepaid assessments. There is a total of $372,111 in Reserves. The association is over budget by $864. The total in receivables is $2985 due to one unit a month behind, a few unpaid late fees, and the majority being legal fees accumulated by one unit regarding sliding glass door repairs. We had to go to court for a judgment to enter the premises.
Old Business: None
Discussion and Approval of 2015 Budget: The draft budget was mailed to all owners. Randy stated that a $6.00 per unit per month increase is needed to fully fund reserves while covering basic operating costs. The contract for “bulk cable” with Bright house was coming up for renewal in 2015, and they have offered a better deal to sign a new 5 year contract now. The current contract does not include any equipment. The new contract would supply one “set top” box, which can be HD or DVR usable, along with 2 digital adapters. The Association currently pays $40.24 per unit (including tax). If the Association doesn’t sign a new contract, the cost would go to $44.30 in 2015. If the new contract is signed, the monthly rate per unit will decrease to $41.59. This would be a 7 year contract with a 5% annual capped increase. The individual residents who are paying Bright house for Premier TV will see a decrease in their individual bills. The amount they will save will depend on what other services they have bundled. Debbie made a motion to approve executing another contract with Bright house for 7 more years, Randy seconded, and all were in favor. The Board did request that Bright house come to a meeting to explain the conversion a little better and help them understand their individual billing discounts. Management will get a meeting planned.
There were no questions from the audience, so Glen made the motion to accept the Budget for 2015 with the $6 increase, making the new assessment $246 per unit, per month. Debbie seconded. All in favor.
Other Business: Michelle reported that the Association is over budget due to some items that could be paid from reserves. The pool heat pump cost $1086.89, 2 HP circulating pump repair cost $412.07, pool filters, which are not an annual expense cost $275, and the pool leak company charged $575. Michelle asked for approval to move $2,348.96 from Pool reserves to cover these expenses paid from the operating account. Randy made the motion to approve the use of pool reserves for these pool repairs. Glen seconded, and all were in favor. It was also noted that the elevator motherboard that was hit by lightning cost $9,900 and insurance only covered $4,900 with a $5,000 deductible, so that deductible was taken from elevator reserves.
Owner Input: An owner thanked Randy for all his volunteer time and effort, and said that they all appreciated him very much.
Set Next Meeting Date: At this time, it was agreed that no meeting was foreseen before the Annual Meeting. The annual meeting was scheduled for January 8th or 15th, 2015 at 1:00 pm at the Titusville Library. Lynn will confirm a date with them.
Adjournment: There being no further business, the meeting adjourned at 1:46 pm.