FAIRLINGTON ARBOR
BOARD OF DIRECTORS MEETING,
BOARD MEMBERS
PRESENT: Pat Schoen, Tom
McQuillan, Jincy Boerner,
Marilyn
Beck, Geoff Thomas
BOARD MEMBERS
ABSENT: None
MANAGEMENT
PRESENT: David
Pollard, Facilities Manager
Mike Maloney, CFM
HOMEOWNERS
PRESENT: Judith Greig
representing Finance Committee
The Board
Meeting was called to order at
The Minutes of
the June Board Meeting were approved unanimously with one correction.
Treasurer Tom
McQuillan presented the report of the Finance Committee from their early July meeting. The
Committee recommended a 4% increase in homeowner’s monthly assessment because
of the large $10,000 increase in insurance premium due to September 11, and the
increase to 3 from 2 new, replacement roofs this year.
ACTION: Motion to recommend a rate increase of 4%
in monthly assessment in the 2003 Budget for consideration
by the homeowners in the Annual September Meeting.
The motion was
approved unanimously.
Judith Greig
suggested that any unusual increase in an operating expense be footnoted with
the rationale for the increase in future budgets. She stated that establishing such a procedure
now would be very helpful to future Boards and Finance Committees.
VICE PRESIDENTS’ REPORTS:
Jincy Boerner,
VP of Community Affairs, reported that the second pool party/barbeque will be
held August 24. The annual dog swim will
end the pool season on Labor Day, and Jenny Hornbeck has agreed to be in charge
of that event. Pat Schoen suggested that
more than one person needs to be in charge of that event.
Marilyn Beck, VP
of Buildings, reported that she has sent notes to the existing committee
members to alert them of the need for a meeting to discuss the issue of exterior exposed wiring for heat pumps. She has only heard from one committee member,
and will recontact the others to see if they wish to remain on the committee,
or not.
Geoff Thomas, VP
of Grounds, stated that he had walked through the Arbor noting very large trees
that in some cases are touching the roofs.
David Pollard indicated that periodically those common- area trees are
pruned. Geoff suggested that homeowners
with trees and shrubs in their patios be reminded that it is their
responsibility and their liability to keep those plants pruned.
Tom McQuillan,
Treasurer, reported that the Treasury Strip
with a maturation date of August 2002 needs to be redeemed.
ACTION: Motion to redeem Treasury Strip in the amount
of $197,353 on maturity date of 8/15/02 to be deposited in money market fund at
Merrill Lynch. These funds will be
disbursed as follows: 1) Roofing and 2)
at appropriate time $70,000 may be returned to the Operating Fund.
The Motion was approved unanimously.
The Board went
into Executive Session for 10 minutes.
The meeting was
adjourned at 8:05 pm.