Date: Tuesday, February 6, 2018
Time: 7:00 pm
Place : Islander Pool Deck, 7928 West Drive, North Bay Village, FL 33141
1) Call to Order and Quorum
Meeting was called to order at 6:58 pm.
In Attendance: Yasmine, Sachin, Dominique, Cesar, Patrick
2) 2018 Budget & Accounting
Jill discussed the overall accounting situation:
--Jill deposited a large volume of previously undeposited owner checks handed over from Associa
--Numerous owners still report that checks sent to Associa are undeposited, most of these being from the November - December time period
--Jill has otherwise completed the A/R, and will advise these owners to void previously undeposited checks and make arrangements to bring balances with the Islander current.
--The Islander will credit any fees related to voiding checks to unit owner accounts, and ultimately request that Associa reimburse the association for these costs.
--Although total payments to the association have been reconciled with bank records, ACH payments made through Associa's ACH service provider (ATG Credit) are still in question. Associa has failed to provide Jill with a ledger from the ACH gateway, despite numerous requests. Bank records show an aggregated payment from the ACH gateway (as opposed to smaller individual payments from each owner).
--Jill will request that these owners stop using Associa's ACH portal, and provide their own bank records for these payments. Thankfully ACH is a small portion of the overall A/R.
Jill to send out a letter to each unit owner stating their current balance due and request owners behind to make arrangements to bring balance current. Ric to follow up with phone calls.
The 2018 budget was also discussed. The largest difference between 2017 and 2018 was that the line of credit used to pay for the elevators has finally converted to a loan. Various other line items were discussed. The Board generally agreed that maintenance payments should not increase. Unused elevator funds can be used to pay down the loan for the 2018 year. Jill to incorporate elevator amortization schedule and other minor edits, and prepare to mail out proposed budget along with the current balance letters.
Proposed budget meeting will be the last week of February.
3) Discussion of Associa Performance
The Board discussed Associa performance in light of the accounting transition. Namely:
--large volumes of undeposited checks
--failure to transfer association lockbox to Jill, complicating accounting transition
--failure to produce proper records regarding ACH payment
--numerous errors in actual statements and collection reports produced.
The Board voted unanimously to have the association attorney send a letter stating deficiencies and giving Associa 30 days to remedy, reserving the right to terminate the management contract if deficiencies are not dealt with immediately.
4) Elevator Modernization
Mechanical portion of elevators to begin February 13, with one of the elevators to be taken off line in early March for roughly 8 weeks. Austin Electric and Connections to coordinate work closely.
February 26, remaining work on fire alarm system to initiate and be completed in roughly 2 weeks from start to finish. Final tests done at end of elevator modernization to ascertain system properly ties in to elevator controller.
Sachin to gather 3 bids for elevator interiors. Cameras to be installed on interior of elevators.
Recap and explanation of ongoing work on the hallways.
6) Ratification of Previous Minutes
The Board ratified meeting minutes for the board meeting taking place on 1.22.18.
The meeting was adjourned at 8:09 pm.