MARBELLA LAKES CONDO BOARD MEETING MINUTES
NOVEMBER 29, 2017
1.CALL TO ORDER
The meeting was called to order at 6:00 pm by Tony Venez
2. ESTABLISH A QUORUM
A quorum was established with 3 board members present ;
Mildred Tufano, Kathie Byrnes and Eileen Shanbrom on the
Scura was unavailable.
3. PROOF OF NOTICE
Notice was mailed out by GRS 14 days prior to this meeting
4. APPROVAL OF MINUTES
The October minutes were posted on the website. Mildred m
approve the minutes. Tony second the motion. All were in f
minutes were approved.
5. TREASURER’S REPORT
$ 241,070.17 CASH IN OPERATING ACCOUNT
$ 771,649.88 TOTAL CASH RESERVES
$ 10,072.79 ACCOUNTS RECEIVABLE
$ 167,627.63 LIABILITIES
$ 39,149.74 TOTAL OPERATING SURPLUS
6. APPROVAL OF 2018 BUDGET
The budget proposal was attached to the notice mailed out by GRS.
Mildred motioned to approve the budget. Tony seconded the motion. The
motion passed with all in favor.
7. NEW BUSINESS
Mildred stated that any surplus in the December budget will be put in
reserve for the removal and replacement of the back oak trees. This project
will be starting soon. The street oak trees are the responsibility of the HOA.
At this time, the board is waiting for estimates from Advanced Roofing as to
the cost of repairs for units with leaks. The gutter and downspout repairs
will not take place until sometime in January due to the backup from Irma.
All Irma repairs will be paid for by the existing surplus . Any remaining
surplus will be designated for the oak tree removal and replacement
project. Irma repairs are estimated at between $10,000 and $12,000. This
includes purchasing and hanging shutters , purchasing and installing
mailboxes, installing downspouts.
Tony announced that the annual meeting has been moved to February 1,
2018 . First notices of the annual meeting will be sent out by GRS on
December 3, 2017. Tony emphasized that we need at least 3 members to
constitute a board and avoid receivership but 5 members are still needed
for an effective board. If you are willing to be seated on the board, your
letter of intent must be received by December 23. The form will be included
in the GRS mailing along with instructions and other necessary information.
Tony adjourned the meeting at 6:12 pm.