Highlights from our May Board Meeting
- As of the end of April, we are 10% over our forecasted budget with our financials due to a number of one-time unexpected costs. Budget should stabilize as the year progresses.
- We have 4 units in arrears with one pending pre-lien notice.
- A review of the reserve budget and capital repair plan was reviewed. There is a projected $70,000 cashflow shortfall in order to proceed with all in-year priorities. We will reviewing the previously proposed bank line of credit/loan options with our lawyer.
- Exterior maintenance and workorders are being assessed for priority including Inspect pool fence posts which will eventually need repair.
- Water shut-off days will be communicated to facilitate water valve testing and fire hydrant replacement.
- Our maintenance company will be tasked to hand-digging and resetting valve boxes starting with Building 7 to address rusted and covered up shut off valves; The Board will monitor results and determine if further work is needed after rainfall.
- We will review all gutter downspouts to review for damage and reinstall splash blocks where needed.
- The 2026 Hurricane plan was reviewed and updated. Storm and Hurricane information is posted to the Resident section of the website.
- A fulsome bid with multiple vendors will occur on the agreed scope for repairs & repainting to present at the next Board meeting.
- New Cellgate app was reviewed – it allows residents to provide gate passes to their residents, reducing wait times. All residents should ensure they have their information updated with the East Lake Woodlands Community Association to get access
Upcoming Meetings
Board Meeting: Tuesday June 23rd @ 6:30PM over Zoom