Certifying of Quorum & Call to Order
Sharon Dowling called the meeting to order at 5:07 P.M.

Proof of Notice of Meeting

The budget meeting agenda was emailed to all owners on 11/13/2023 and posted on property.

Roll Call
Sharon Dowling – present
Peter Tedone – absent
Mike Bisaha – present
Anna Enrico – present
Barbara Ellis – present
Dennis Rosenfeld – presentt
Joe Dembek – present

A quorum was established.

Management Present

Bonita Vandall, LCAM, CMCA, AMS, CBA, PCAM from The Wright Community Management, LLC. was present. Arrangements were made in advance for the zoom meeting to be held.

Presentation of the 2024 Budget

Sharon Dowling presented the proposed 2024 Budget and answered questions from the members. Explaining the increase is based on the pipelining project and a bank loan of 7 years, with options for a payoff sooner if decided by the board.

The total operating expense is $437,346.00 and the total reserves expense is $70,750.00. The total budget for 2024 is $508,096.00 The quarterly maintenance is $1,809.65 and the quarterly insurance assessment is $1,288.50 for a total due each quarter of $3,098.15.

Vote on 2024 Budget

By proper motion by Sharon Dowling, seconded by Anna Enrico, the budget was approved at $3,098.15 per quarter. The unit owners were reminded that the 2024 insurance assessment of $5,451.00 per unit offers two payment options of $1,288.50 quarterly or $429.50 monthly.

Adjournment

There being no further business to be brought before the board, by proper motion by Barbara Ellis, seconded by Mike Bisaha the meeting was unanimously adjourned at 5:15 PM.