The Pointe at Livingston Condominium Association, Inc.
Open Meeting of the Board of Trustees
October 4, 2012
1.Predident, Stanley Kleiman convened the open meeting of the Board of Trustees at 8:00 pm.Approximately 70 unit owners were in the audience. All the trustees were in attendance ( Stanley Kleiman, Jim Jacoby, Evi Meinhardt and Phyllis Brightman). Also in attendance were Amy Lauen, Manager, and Samuel McNulty, Esq.
2. The minutes of the May 22, 2012 Meeting of the Association and Meeting of the Board of Trustees were approved unanimously by the Trustees present.
3. President, Stanley Kleiman reported on The Pointe financial health with over $2MM in reserves. Completed projects for the past year include: Sealcoating of the driveways, new lighting and street signs at the Pointe’s entrance, and polishing of the floors in all the buildings. New pool umbrellas, and new exercise equipment, The renewal of the clubhouse will be the next project.
4. Jim Jacoby presented the Treasurer’s Report. There is $2.2 MM is total assets made up of 1.7MM in replacement reserves to satisfy our capital needs according to audit done by Becht Engineering. It is recommended that such an audit be done every 5-6years to insure we are current with our capital needs. Deferred maintenance is $120.000 to cover expenses that are not yearly.$250.000 cash in the operating fund and $111.000in the Transitions Account, unspent at this time. Income is about $1.5 MM yearly.
5. Amy Lauren gave the Management Report. She discussed in great detail the sample boards done by the two decorators selected for a renewal proposals for the club house.
6. The Recreation report was given. Plans for the future include a luncheon, recital and card party.
7. New Business:
a. A&L Snow removal contract was approved to cover November 1-April30 for $45.325.
b. CAU Insurance Renewal for 3 years
Discussion regarding claims- unit owners should keep records of improvements in a safe place
c. Questions from the floor included: possible installation of fobs for walk-in to garage. A generator for the elevators, carpet for the library and a policy on the number of guests per unit owner at one time for cards or the pool.
8. Election Results: Ron Yellin and Marvin Goldman had the highest number of votes They are the new trustees and will serve for a 2 year term.
9. The meeting was adjourned at 9;20.
Phyllis Brightman, Acting Secretary