INNER HARBOR VILLAGE CONDOMINIUM ASSOCIATION
BOARD OF DIRECTORS MEETING

JANUARY 13, 2012

President Dan Quail called the meeting to order.   Present:  Dan Quail, Gregg Hupp, Greg Lucas and Dan Lanksbury, Property Manager.

A motion was made and passed to approve the corrected minutes of the November 11 meeting.

FINANCIAL REPORT – Greg Lucas

Greg reviewed the financial report.  Our expenses for the month were $14,471 with the major expense being $9,897 in emergency roof repairs for Building 1.  We are $1,727 under budget for administrative cost and $5,489 over budget for operating expense. We currently have a $13,452 balance in the checking account.

Reserve account funds are currently at $66,791.  The third quarter transfers have not yet been made to reserves.

Expenses for special projects have exceeded the budget for the year as a result of non scheduled emergency repairs at Buildings 1, 2, 6 and 17.  A discussion was held about modifying the way the budget is formatted to remove the “Special Project” budget and expenses from the operating budget and make it a stand alone category similar to the reserve budget.  This change would allow for better tracking of the normal operating expenses.   

PROPERTY MANAGER’S  REPORT – Dan Lanksbury

Five work requests were received.  All except one were resolved.  That request will be referred to the landscaper.

Landscape

Most activities were associated with windfall clean-up.

Roofs

Emergency roof (dead valley) repairs were made at Building 1.

Other Activities

Work on a village wide satellite installation is still underway, after numerous calls and delays, a local area contact has been made 

The defective entryway sign light fixture was replaced with a new LED light fixture.  The breaker for the circuit was tripped and required locating the power source.  The power for the 13 watt fluorescent lamp was being supplied from an individual condo unit.  The homeowner in that unit was unaware that they were providing power for entryway sign lighting.  The question was raised by the homeowner if they should be reimbursed for the power.  A motion to reimburse the homeowner $50 for the power used to operate the light was made by Greg Lucas, seconded by Gregg Hupp and passed.

The concern about chimney safety at one unit was addressed by the homeowner and the chimney inspection found the chimney and approach to burning fires was safe.

 OLD BUSINESS

A discussion was held regarding insurance renewal in July of this year.  Indications are that CAU is still offering a fixed premium rate for a three year period to other Associatons in our area.  Further discussions about pursuing additional estimates were deferred until next meeting.

Greg Lucas reported that he had contact with the Reserve Associate representative and they were willing to meet and address our concerns about the reserve study.

NEW BUSINESS

A review of outside lighting was held and it was determined that there was no real way to address burnt out lights since the homeowners control of the light switch.  The article covering outdoor lighting and the fact that lights are available on request is as far as the Association can go on this issue.

A final review of Winter Newsletter articles was conducted.  It was determined that an additional “Budget vs Expense” table should be added to make this information easier to access for homeowners.   

 The meeting adjourned at 12:45 p.m.

                                                                                    Respectfully submitted,
                                                                                    Dan Lanksbury