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Minutes of the
Whitley Bay Condominium Association, Inc.
Member & Board Budget Board Meeting

Members’ Meeting:
Call to Order:
Stan Bowers called the meeting to order at 7:00 pm in the recreation room.

Establish Quorum of Members: Michelle stated that 45 units were represented in person or by proxy.

Guest Speaker: Liz Mandeville and Susan of Sunrise Bank attended to explain how their lockbox program works. They said if the board chooses to change banks for accepting the owners’ monthly fees, they will bring in pizza and computers and help the owners set their payments up.

Results of Voting on Partially Funded Reserves: Michelle stated that 40 units voted to partially fund reserves in 2019, and 5 owners voted to fully fund reserves.

Results of Voting on CPA Audit versus CPA Review: Michelle stated that 41 units voted to have the CPA complete a Review of the 2018 financial records. 4 owners voted to have a CPA Audit. Bob noted that an audit was completed for the 2017 records.

Adjournment: This members’ meeting ended at 7:20 pm.

Board of Directors’ Meeting:
Call to Order: Stan Bowers called the meeting to order at 7:20 pm in the recreation room.

Establish Quorum of Directors: Board members present: President Stan Bowers, Secretary Frank Sullivan, Treasurer Bob Shrader and Director Richard Isom. VP Margherita Ramsay could not attend.

Approval of Past Minutes: Bob motioned to approve the minutes of the July 9th meeting as posted on the website. Richard seconded, all in favor.

Financial Report: Bob stated that as of September 30th, the association is about $4K over budget, but we should be close to even by end of year. Garage door budget for this year is much more than we expected.

Vote to Waive Full Funding of Reserves: Bob motioned to waive full funding and fund 2019 reserves at 50% of need, based on owner votes. Richard seconded, Frank dissented, all others were in favor.

Vote to Contract for a CPA Audit or Review: Bob motioned to have Cole CPA complete a Review of the 2018 financials, based on owner vote. Richard seconded, all in favor.

Final Approval of 2019 Budget: Bob motioned to approve the 2019 at $630 per suite per month, staying the same as 2018’s rate. Frank seconded, all in favor.

Set Annual Meeting Date: The Annual Meeting will be held February 20th, 2019. The first notice of annual meeting, asking for candidates, will be mailed out in December.

Elliptical Fitness Machine: Frank researched machines, based on the owner vote last year to purchase a new elliptical machine before anything else. He obtained a cost of $4,700 for a PreCor Commercial Gym machine. Bob motioned to approve using Reserve Account 3060 for up to $5,000 for the new fitness equipment. Frank seconded, all in favor.

Security Cameras: Stan stated that the original equipment was analog and is at the end of its life. There have been problems with the recording equipment, so bids were obtained. Stan contacted ADS and their bid for new digital equipment, DVR and monitor was over $17,000. Michelle recommended John Silis of Innovative Surveillance and his bid for similar equipment is $5,405. Bob motioned to approve using up to $5500 from Reserve account #3040. Frank seconded, all in favor.

Elevator Lights: In February, we obtained a quote from E-Cabs for a 6-panel stainless steel ceiling with 6 LED lights. The cost was confirmed recently by Stan, and the total would be $6,000 for both elevators. The lights currently are dim, and the plastic ceiling is yellowed, hard to clean and easy to trap and hold bugs. Bob motioned to use Reserve account #3080 for this upgrade. Richard seconded, all in favor.

Painting: Frank took the time to detail all doors in the complex and rate which ones need the most work. There are 131 doors and 26 elevator doors. Scott has only had time to paint about 4 doors this year. A resident has a painter she has used for years, so he will be asked for a price to paint these doors over the next year, as his time permits. We hope to get a good deal on the price since we can work around his free time. Bob motioned to use $10,000 from Painting reserves to get the job started. Richard seconded, all in favor.

Set Next Meeting: The next meeting will be January 24th at 7 pm in the clubhouse.

Owner Forum: A resident asked if the heat can be turned on in the pool tomorrow, based on the promise last year to heat it when the ambient temperature is over 70 degrees. It will be started tomorrow.

Adjournment: There being no further business, the meeting adjourned at 8:06 pm.

Respectfully Submitted,

Michelle Davis, CAM, CMCA, AMS