Riverside Terrace
Budget Meeting Minutes
December 15, 2025
Certifying of Quorum & Call to Order
President, Sharon Dowling called the meeting to order at 5:02 PM, quorum present.
Roll Call
Sharon Dowling – present
Peter Tedone – present
Joe Dembek – present
Mike Bisaha – present
Rik Shafer – present
Management Present
Bonita Vandall, LCAM, CMCA, AMS, CBA, PCAM from The Wright Community Management, LLC. was present as well as other unit owners in the zoom meeting.
Proof of Notice of Meeting
The Notice and Agenda was confirmed by email to all owners and placed on the bulletin board.
Presentation of the Budget
Sharon Dowling explained the proposed budget and reserves including the decrease in insurance costs. The new quarterly payment amount including reserves insurance and other expenses will be $3,513 down from $3,706 last year.
By proper motion by Peter Tedone, seconded by Mike Bisaha, the 2026 budget was approved as presented at $1,838 quarterly maintenance and reserve options at $558.33 monthly; $1,675 quarterly; or $6,700 annually.
Adjournment
There being no further business to be brought before the Board, by proper motion by Sharon Dowling, seconded by Joe Dembek the meeting was adjourned at 5:09 PM.
Adjournment
Zoom Link