The CY 2010 Budget Presentation meeting of The Regency Tower Board was called to order at 7:00 p.m. on Thursday, November 12, 2009 in the Meeting Room of The Regency Tower by the President.
Roll Call -The roll call showed the following Board Members present: Iris Anastasi, Eric Berkowitz, Dee Lanzillo, Fern McBride, Dott Nicholson-Brown and Bill Tennenbaum (via speakerphone). Stephen Collins was absent.
Reading of Minutes -Eric Berkowitz made a motion to approve the minutes of March 30, April 2, April 28 and May 26, 2009. Bill Tennenbaum seconded the motion, which was unanimously approved.
Budget Presentation with Recommendations
This meeting is primarily to present the budget which will be mailed to all unit owners tonight, November 12, 2009. The budget will be voted on by the Board at the December 16, 2009 Board Meeting.
If we were to fully fund our reserves for 2010 it would total $164,974. A Partial Reserve is being offered in the amount of $73,080. We have one of the lowest reserve accounts on the Galt and this is one of the questions lenders are asking when making loans to people who are buying units. The Finance Committee is recommending the Partial Reserve. With the Partial Reserve and the Bad Debt Contingency, maintenance costs will increase by 9.7%.
Committee Reports -Committee Reports were precluded by the Budget Presentation. Click Here to read the previous Committee Reports.
New Business -New Business was precluded by the Budget Presentation. . Click Here to read the previous New Business.
Adjournment -A motion was made by Dott Nicholson-Brown and seconded by Fern McBride to adjourn the meeting at 7:45 p.m.; unanimously approved.
Annual Holiday Fund for Employees
The Holiday Season will soon be here and, as is our custom, we are asking everyone to contribute to the Regency Tower Employees’ Holiday Fund for 2009. This fund shows our appreciation to all members of our staff for everything they have done during the past year to make living at the Regency Tower comfortable and pleasant.
The total amount received will be divided among all members of our staff. Although many residents give more, a minimum of $50.00 is suggested. We thank you for your generous response to this request.
Please make your check payable to “R. T. Employees’ Holiday Fund” and deposit it into the HOLIDAY FUND box on the Security Desk. If you are not in residence, please mail your contribution addressed to: Regency Tower Employees’ Holiday Fund by
Our committee wishes you and your family a joyous Holiday Season, as well as happiness and good health throughout the coming year.
Please keep in mind that many of our employees extended themselves far beyond their respective “job descriptions” before, during and after every emergency. Their actions contributed heavily to moderating the inconvenience and damage costs faced by our Association during and after each hurricane and tropical storm, when the garage door was on the fritz, during every flood, and during dozens of other instances that pass unnoticed BECAUSE THEY DO THEIR JOB SO WELL. This is an opportunity for each of us to show our gratitude and reward their dedication. Please DON’T ALLOW IT TO PASS without being heard from - editor
Employee Holiday Fund Committee