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Board Meeting

E-mail Address: 1regencytower@gmail.com


February 21, 2018

Special Meeting
7:00 p.m.

Vice President Eric Berkowitz
Vice President
Eric Berkowitz
President Eileen Bendis
Pres Eileen Bendis
The meeting of the Board of Directors of the Regency Tower was called to order at 7:00 p.m. by Eileen Bendis, President.

Roll Call - Board Members Present: Abe Ben Aviv, Eileen Bendis, Eric Berkowitz, Fern McBride, Gene Sicoli

Board Members on conference call: Steve Faigin, Richard Robins

Approval of Minutes - Minutes of the November 20, 2017 meeting were distributed and posted in advance. A motion was made by Eric Berkowitz to accept the minutes as written The motion was seconded and passed by general consent

Presidentís Report - Eileen R. Bendis - President Eileen R. Bendis read her President's Report. Click Here to read the President's Report.

Manager Andy Surdovel
Andy Surdovel
Staff Accountant Teresa Baker
Staff Accountant
Teresa Baker
Financial Report - Prepared by Teresa Baker, Accounting; presented by Andy Surdovel, Manager

Charles Krblich CPA firm has been engaged for the annual audit. The 2017 financial audit is in progress and the annual report will be issued to the Board and Unit Owners in March 2018. At this time, they have completed fieldwork and we will receive a draft of the financial statements within the next few weeks. Upon completion of the audit, they will also prepare and file our tax return.

Please Note - (Copies of the complete Financial Report are available in the office - only to members.)

Key Financial Metrics for January 2018:

  1. Cash on hand as of January 31, 2018

    1. Operating                                        $447,389

    2. Reserves-Replacement Funds         $647,770

  2. Secretary Fern McBride
    Fern McBride
    The Q1 2018 maintenance has been billed and collected for Q1 2018. We have two accounts arrears more than 90 days. Both accounts have been turned over to our attorney for collection.

  3. As determined at the Annual Budget Meeting in December 2017, the reserves are to be partially funded. The reserves for Q1 2018 ($19,769) were transferred to the designated reserve bank accounts in January.

Vote on Approval of Comcast Bulk Contract - A motion was made by Abe Ben Aviv to approve the Comcast Bulk Contract pending approval from our attorney. The motion was seconded and passed by general consent.

Please Note - (Copies of the budget are available in the office - only to members.)

Adjournment - No further business. The meeting was adjourned at 7:25 p.m.

Fern McBride

Board Secretary

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