Meeting Minutes October 2017
Myerlee Circle Condominium Association, LLC.
6945 Dog Leg Way
Fort Myers, Fl. 33919 October 17, 2017
President- Sandy Cummings
Treasurer- Linda Fentner
Secretary- John Schreiber
Director- Kim Hanson
Director- David Ferris
Director- Paul Salvagin
The meeting was called to order at 1:40pm. All Directors were present; therefore, a quorum was achieved.
The Secretary read the minutes of the last meeting. With two corrections the minutes were approved by the motion of David Ferris; seconded by Sandy Cummings and the positive vote of the Board members.
Treasurer’s Report-The report is attached. Linda referred to the bank reconciliation and referred those amounts to the reported amounts on the Balance Sheet. Copies of the reports and bank statements are attached. Further, in September we transferred $10,000 from our Reserve accounts to the Operating Fund accounts. The amount was borrowed in June to pay for our Flood insurance premium. We also transferred $25,000 from our Operating Cash to Operating Savings account. On October 10, I wrote a check for $900 for six water shut off valves. I have
received three checks from those owners and am waiting for the remining three. For Hurricane Cleanup expenses Prestigious Properties for cutting up trees, raking debris, and stacking it we paid $2,970. Linda wanted to review the Women’s Association since in the last Budget Committee meeting the reason for this item being in our budget was questioned. Basically, the item is not in our budget. From all the withdrawals they have had they have a balance of $3,393.22. Their income and expense are noted on the report, the reason this shows is under our finances
is because they have our ID number. They are not literally in our budget. David asked if we could remove it from our financial reports and put it at the end of your statement so that it does not reflect in our amounts? They have their own checkbook and write their own checks. David said that he did not think it appropriate being mixed in with our budget. It would add to our budget and increase the budget toward the $500,000 limit concerning CPA Audit threshold. Linda thought the only way to do it is to report it on a whole separate page. Linda said she
would see what she can do about it. The Pooled Reserve amount when we opened August 31 was $458,554.59, we put in a deposit of $9,253.33, which is made monthly to eventually make our annual Reserve budget of $111,040. We had an interest deposit of $18.74. So, by the end of September we a balance of $467,826.56.
A motion to accept the report was made by David Ferris, and seconded by John Schreiber. All Board members voted to accept.
Clubhouse—Kim had nothing for the Pool, but for the clubhouse she contacted Lowe’s and they will contact the rug
installers. They will fix the seam in our carpeting. The repair should not cost us anything because it is only six months old.
They laid the carpet on April 11, 2017. Linda interjected that because of the Workmen’s Comp. situation we will be getting a $630 payment.
Grounds—Paul had nothing to report. Vargas Inc. will be contacted to give a price on picking up debris on Myerlee
Country Club Blvd. We are getting concerns from our owners that if is not picked up soon the grass underneath it will die and we will have to pay for new grass. David mention that the County will pick it up at no cost that might be the way to treat it. Sandyoffered that we have no idea when the County will get around to it, and if the grass dies we will have further expense. David said that he would check into FEMA to see what their roll in our Clean Up would be.
Units—The insurance adjuster was here about a 10 days ago. He took pictures and notes on everything in our area.
Because, even though we may not be able to collect anything our damages must be documented, to add a cumulative amount that the insurance records will show for our Assn. for the year. We have the roofing issue that Max Copping will address as soon as he can, we have some lanai roofs that have severe damage and lanai ceilings that came down. Four lanais were inspected and the bathroom on Tee Way.
President—We have no insurance coverage for anything having to do with trees. We will also be paying for the roof as well because the repair cost does not meet the insurance policy deductible.
Public Comment—Is there any way to address trees on Birdie Way? Can the contract for taking trees down be modified? Sandy replied that right now we are concentrating on dealing with the problem of clearing the area of Hurricane damage. The man is concerned about the tree adjacent to his and his neighbor’s units. He asked if the Board would consider if he could get the tree removed for $500 of less. The tree is at 5928
Birdie Way. Sandy stated that we will look into it.
Larry asked if the Assn. could expect a Special Assessment to cover the damage and such this year? There is a possibility of having one, but we do not how much the damages will cost at this point. David stated that everyone in the Assn. should check their own insurance policy to see it contains a clause allowing reimbursement for any Assn. levied Special Assessments up to whatever limit the policy includes ($1000 or $2000). Many
policies have a rider that allows such reimbursement. A woman complained that nobody from the Assn. called her to inform her about the condition of the Assn. units after the hurricane. Kim mentioned that a special newsletter went out to all unit owners. She then complained that she has sent several emails to the Assn. Website but they are not answered. Our response was that Board members monitor the site.
New Business—A discussion concerning a new Maintenance man was had. The Board should begin looking for candidates soon since one will be needed in about January, 2018. Some members thought the position should be full time rather the half-time position we have now. Paul mentioned that he knew of some persons that might be interested. It was mentioned that we would have to budget for a full time pay amount. An advertisement will be posted for interested parties to contact the Board.
At the end of October new rates for Flood insurance should be published. It was thought that an increase of seven percent would be the new rate. David motioned that The Board approve the policy of the American Coastal Insurance Company at the cost of $64,205. It is an A-rated company. The policy includes: Special Perils, Replacement cost, Agreed Value, a Hurricane deductible of 5%, All Other Wind deductible of $2,500, All Other Perils deductible
of $2,500, and other coverages which are much better than the policy from Westchester that we now have. The motion was seconded by Paul. The Board gave its’ unanimous approval.
John stated that 14 business days’ notice must be given to owners regarding the 2018 proposed Budget. The notice must contain a copy of the proposed budget. An affidavit must be executed by the person making such delivery. In order to have enough time to notify owners of the 2018 Budget, the Board meeting at which the Budget will be presented, should be moved up by one week to November 14. The Board agreed.
Paul moved that the meeting be adjourned. It was adjourned at 2:46pm.