River’s Edge Condominium AssociationBoard Meeting
Monday, April 13, 2015 @ Julius Meinl
- Manager’s Report – reviewed list of completed/closed projects and open/pending. The underground leak piper repair cost is $1,300 and needs to be covered once the MB Financial account balance of $2,761.84 is withdrawn and deposited into association operating budget account. Other important note is the quote for painting hallways does not include stairwells. There was a discussion around moving away from carpeting to tile but this will need to be revisited once budget plan is approved – no other pending or open projects were approved due to budget.
- Board approved closing the MB Financial account and depositing into operating budget account.
- Budget discussion – the special assessment budget of $16,200 was not approved for the high priority project of replacing river side balconies and sealing front balconies. Group agreed to meet in 4-6 weeks to review budget proposal option to increase assessments to budget for larger expense projects rather than approving special assessments for incremental large budget items. There was also a recommendation to commission a reserve study for the association to develop long-term budget plan so the association can be proactive and not reactive with budget planning for expenses.
In attendance:
M. Keating – 2D, C. Aucoin – 2G, J. Parisot – 3G, B. Kugelman – 1A, P. Geib –
1G, Roman Kowka – 1F, Ray Gomez – 1B
Via phone: - N.
Spyridonos – 3D and 2H, M. Vermeer – 3H
