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Brentwood of Palatine Condominium Board Meeting 3.11.2009. Treasurer’s Report Cash Position Delinquencies Rules & Regulations Laundry Natural Gas Elliot Charge backs Common Area Cleaning Service Calls 30/30 Specifics Executive Session. Treasurer’s Report – Financials Cash Position.
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Brentwood of Palatine Condominium Board Meeting 3.11.2009 • Treasurer’s Report • Cash Position • Delinquencies • Rules & Regulations • Laundry • Natural Gas • Elliot Charge backs • Common Area Cleaning • Service Calls • 30/30 Specifics • Executive Session
Treasurer’s Report – FinancialsCash Position Cash Assets February 09 ending • Operating Accounts - $ 22,287.75 • Reserve (MM)- $ 37,432.39 Cash Assets - $ 59,701.00 • Accounts Payable $ 20,656.65 • Accounts Receivable: $91,402.61 ~$3,500 for hot water heater booked in Feb ~ $6,000 for 4” drain line replacement to hit in March
Delinquent Accounts – FactsFebruary ending AR - $91,402.61 • Additional Payment plans have been entered into • Threat of possession has recovered ~$4,000.00 • 15 Units account for $51,366.05 of AR • 10 account for $44,427.13 • Write off debt TBD
Rules & Regulations • Crime Free Multi-Unit Housing • Revised Parking Policy • Landscaping • Registrations
Laundry Transition has occurred • Equipment was installed in 1 week • Family Pride received 6 service calls in the following week • Association received 3 service calls • Drying time was increased to 60 minutes • 1 laundry room has an electrical issue which should be resolved soon (Related to Com Ed issue) • First collection to occur in mid March • Association representatives to accompany • Response time for service calls has been within contract agreement specifications -1 business day
Natural Gas Supplier Update • Application for agreement with Nordic Energy was declined • Association was not informed in timely manner • C2Intl supplied alternate agreement through Direct Energy • Fixed price 24 month agreement
Tax Appeal Charge Backs • Charges relating to tax reduction savings in the 07-08-09 triennial period. • Average amount per Unit ranges from $16.00 - $25.00 • One time fee. • Next appeal opportunity will be evaluated. • Market prices should allow for further tax reductions per unit.
Common Area Cleaning • Current month to month in effect for $2,450 / month (JTW) • Specs call for 3 cleanings per week • Each building is being cleaned app once per week. • Alternate proposal received for $2,150 / month. • Thrice weekly per building service specified in contract • Standard 30 day “out clause” included.
Service Call ProcessingAll calls go to PSI (847) 806-6121 24 hrs • 1st month post-transition - 91 work orders / service calls were received from PSI • 50 maintenance issues, 42 closed, 8 pending • 41 Association issues, 38 closed, 3 pending • 10 Emergency phone calls from answering service • All appropriate actions taken within 1 hour • Average initial response time for all notifications less than 1 hour. • Initial response and actions by Pat • Follow ups done by Rebecca.
Accomplishments / Challenges • Last 30 Days • Laundry Transition Occurred (Pat) • Fire Claim settled - Awaiting ~$6,500 check (Richard, Pat) • Payment Plan Structure Developed (Pat, Richard, Rebecca) • 1453 &1493 hallways pre-carpet install painting – 90% complete (Pat, Rebecca) • (Carpet install this week) • Service Call handling process implemented (Pat, Rebecca) • Control of AP invoices (Richard) • Next 30 Days • Asphalt repairs (Pat, Richard , Rebecca, TBD) • Landscaping Contract (Rebecca , TBD) • Roofing status evaluation (Pat , TBD) • Parking / other registrations (Pat, Rebecca, TBD) • Hallway evaluations (Pat, Rebecca , TBD) • Repair Charge-Backs (Richard) • Violation inspections / Notices (Pat, Rebecca, TBD)
