HHCI BUDGET & FINANCE COMMITTEE
MEETING MINUTES
January 7, 2009 2 PM
The meeting convened at 2:02 PM in Unit A102. Present were George Field, Judith Wright, Jean Herr, Warren Miller, Ginny McCardle, and Ed Plummer.
Upon motion of George Field with second by Judith Wright, the minutes of the previous meeting were approved as circulated.
As Warren Miller expected to arrive late, he prepared a written report as follows:
Anticipated income over expenses for Fiscal 2008 will be approximately $30,000.
This will be applied to the Repair & Replacement Reserve in 2009.
Placed a CD for $25,000 with Acacia Bank in November at an interest rate of 3.83%.
The work done by George and Ed enabled us to save approximately $9,000 in various repair and maintenance items, (vs. budget).
$3,000 additional income from HOA on trash refund.
Budgeted $10,000 for Insurance Deductible but will probably have $3,000 expense.
Electricity will probably be under budget by approximately $7,000.
Water/sewer will probably be over budget by approximately $12,000.
Ed Plummer discussed the following items of interest:
Adding recycling to the AAA Trash Contract last year turned out to extend the entire contract by 3 years so we will not be able to change vendors until March, 2011, unless AAA defaults on the contract. We had anticipated saving about $300 per month by going to a new trash contractor. Further, AAA has just announced a rate increase effective immediately.
Beginning December 26th, the alarm system in Bldg B began causing strange alert codes and “Late to Test” situations. The matter was finally resolved yesterday by ECFP replacing the dialer panel and correcting a programming problem. Apparently, a problem on the circuit board prevented the panel from communicating on phone line 1 but when the panel tried to communicate via phone line 2, a programming error prevented the panel from talking to the monitoring station. The situation was aggravated by having separate vendors for alarm system repair (ECFP), the phone lines (Comcast), and the monitoring contract (CAT & SETEC). In addition, as the “Late to Test” alert ultimately meant that the alarm system was not communicating with the monitoring company, B Bldg was forced to go on FIRE WATCH for almost 24 hours. Fire Watch involves having someone on site continuously (@$50/hr) to watch for any indication of fire or other safety problems. The Board will need to review the involved contracts in light of the situation with regard to whether it is feasible to consolidate the services with fewer vendors.
The ceiling mounted heater in B Bldg Sprinkler Valve Control room was found to be stuck ON. George Field determined the problem to be the thermostat and a replacement part has been ordered for a cost of about $40. (Having an electrician address the problem would likely have resulted in the replacement of the heater for a cost of $500 or more, part and labor, as electricians have told us they would not attempt actually repairing the heater unit itself. This winter we George has repaired 6 heaters at great savings to the condo.
We presently have water leak issues with units A112 at a window and A302 at the kitchen ceiling. The A302 leak may be related to roof shingles that blew off recently. Summit Roofing has been tasked to investigate and repair. Additionally, the entrance ceiling of Bldg B is showing leakage and it is likely that the entrance roof will need to be changed to a more suitable membrane type; Summit Roofing is preparing an estimate.
The cinder block wall inside of the north stairwell of B Bldg shows effervescence, meaning moisture is penetrating the wall. Present thinking is that we need to look into having the outside brick walls of the north ends of both buildings sealed.
There are several settlement cracks in both buildings, with the worse being in the north stairwell of B Bldg. Present thinking is that we should get estimates for repairing these cracks this spring.
The next meeting will be February 25th.
The meeting adjourned at 3:20 PM.
Respectfully submitted by Ed Plummer