Highlights from our June Board Meeting
- As of the end of May, we are slightly over budget due to a few one-time unforeseen roof repair expenses earlier in the year. All contracts and other monthly expenses are on plan with projections.
- Our reserves will experience a cash-flow shortage this year as the intention is to conduct restoration, soffit replacement, rust mitigation and painting of all buildings this fall/winter. The Board is reviewing a line of credit from our bank to bridge the interim cash flow gap.
- The Board received a number of bids for the work and are working to ensure contracts are fulsome and meeting quality expectations. The Board will pick a vendor at its August meeting.
- Approved a competitive quote to remove and grind the dead palm tree in front of Building 5
- Engaging our landscaper to develop a plan to mitigate flooding behind Building 6 as well as recommended pre-hurricane tree trimming.
- The (2) Hydrant replacements were completed, however in re-test of the two original hydrants from 1979, one more has been deemed non-functional.
- We identified two potential primary water shut off valves in our Association that need to be repaired to be usable.
- Dead Fish in the ponds have been reported to the ELW Master Community Association.
Upcoming Meetings
Board Meeting: Tuesday August 18 @ 6:30PM over Zoom
Budget Meeting – planned for September and AGM for November