Certifying of Quorum & Call to Order
Meeting called to order by Sharon Dowling at 5:03pm on Zoom.

Roll Call:
Sharon Dowling – present
Peter Tedone – present
Mike Bisaha – present
Anna Enrico – present
Barbara Ellis – present
Dennis Rosenfeld – present
Rik Shafer – present

A quorum was established

Management Present

Bonita Vandall, LCAM, CMCA, AMS, CBA, PCAM from The Wright Community Management, LLC. was present.

Presentation of 2023 Budget

Sharon Dowling presented the proposed 2023 Budget. Insurance increased by 100% and although it is high, it is not as high as others are receiving. Mike Bisaha reviewed many line items and requested reductions in operating expenses if possible. The line of Credit is in reference to sewer pipes and Florida Law changes that will affect the finances in the budget. It is shown as new banking fees and a line of credit expense. The banking fee is a one-time fee and the other is the annual interest payments. The line of credit goes up to 3 years and we are still in negotiations with the bank. We would pay interest the first year and convert to a loan after that. Two new reserve line items were added, one for the elevator and one for the pool. The pool expense was increased due to resurfacing needs. Trash and utilities were addressed.

Open Forum for Budget Questions

Glass cleaning services will be reduced to twice a year and the line item for pool reserves and social functions was removed.

Vote on 2023 Budget

By proper motion by Peter Tedone, seconded by Michael Bisaha the budget was approved at $1615.00 per quarter. The unit owners were reminded of the 2023 insurance assessment of $4,587 per unit: with two payment options of $1,146.75 per quarter or $382.25 per month.

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 5:47 PM.