Heritage Hunt Condo I

Budget and Finance Meeting

March 19th, 2008

Meeting opened at 2:10PM in condo unit B210. In attendance were Kay Franklin, Warren Miller, Ed Plummer, Judy Wright, George Field and Betty Licitra.

The minutes for the February meeting were read and approved.

Warren Miller said the annual audit of the condo should be sent to the board directly.  In the past it has been sent to SCS and was slow in coming to the board.

In looking at the current budget, Warren Miller said that legal fees and water costs will exceed the amount that had been originally budgeted.

Costs for installing two water irrigation meters were less than originally expected.  Cameron Plumbing, Inc. bid on the job and provided satisfactory service.  Payment for this installation will come from our working capital fund.  The money to pay for this should be recovered in about two years as the rate for irrigation water is less than the water used by the rest of the condo.

Kick plates will be put on all unit doors.  Future plans will consider adding additional kick plates to the front lobby doors.

The board will look closely at contracts dealing with fire prevention alarms, monitoring systems, elevator and entry systems.  Where needed, bids will be requested for new ones and consolidated, if possible.

Betty Licitra submitted her resignation at this meeting.

Next scheduled meeting is on April 16th in unit B305 at 2:00PM.

Respectfully submitted,

Betty Licitra