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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
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
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 facts february ending ar 91 402 61
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
Rules & Regulations
  • Crime Free Multi-Unit Housing
  • Revised Parking Policy
  • Landscaping
  • Registrations
laundry
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
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
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
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 processing all calls go to psi 847 806 6121 24 hrs
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
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)