QUAIL RUN CONDOMINIUM TRUST
BOARD OF TRUSTEES MEETING

May 6, 2009, 5:00PM VBW GARAGE 
Quailruncondo.org

            Meeting called to order at 5:00pm.

Present at the meeting were R. Clarke, J. Deasy, A. Downing, J. Fitzsimmons and J.Alpert (attending by telephone) Trustees, D. Mussen and R. DeFilippo representing APT, Inc. T Kent, Landscaping Chairman also joined the meeting along with H. Tillman and W Howe from the Communications Committee.

April Minutes and subsequent Special Meeting Minutes:  Approved as
            presented.

Procedural Note: In these minutes, action items are bold and italicized.

Owner Concerns:
            The Trustees approved the installation of new windows at 4 JG.
            The Trustees reviewed several issues raised by the owner of 11 JG, two of which should be easily resolved by R. DeFilippo (leaves and patio edging). Remaining drainage issues have been an ongoing concern and will be addressed by T. Kent.

Financial Matters:
            We appear to be reasonably on budget through 4 months with our contingency operating reserve absorbing unanticipated excess VBW painting cost of approximately $5,500. Pool costs of approximately $10,850 exceeded the $6,000 anticipated 2009 charge to capital reserves.
            The Trustees approved the purchase of two certificates of deposit(“C/D’s”) in the aggregate amount of $123,000 in reserve funds at the best available FDIC insured rate maturing no later than 4/30/2012.
            The Trustees also voted to limit Quail Run C/D amounts to the maximum permanent FDIC insurance limit, presently $100,000 per FDIC insured depository, and to record a Resolution which will bind future Trustees to this policy.
            The Trustees signed a resolution authorizing APT to transfer owner funds, paid into the operating fund for new garage doors, into the capital reserve fund.
            P. Hughes, Finance Committee, has completed spread sheets showing comparative balance sheet amounts going back several years. She will also provide profit and loss components in the same format over the next few weeks.
R. Clarke reported several recent communication incidents involving our current independent accountant with the Trustees authorizing R. Clarke to initiate a search for a new accountant. D. Mussen will provide two names, well and favorably known to APT and R. Clarke will report back to the Trustees no later than the September meeting.

Maintenance Report:
            The April written report was not available at the meeting and will be sent to Trustees this week by e-mail for review.
R. DeFilippo reported that the Trust has, in the past, funded the electrical cost related to the installation of new garage doors, approximately $125 per door. R. Clarke has asked D. Mussen to fund future electrical installations from the reserve account. Perhaps a dozen such installations may be expected this year.
            APT will send notices to #2 and #4 KM requiring deck repainting by owners within 60 days with #2 KM requiring spindle replacements prior to painting. After the meeting, the Chair noticed that # 12 SMB was inadvertently left off the list as requiring spindle replacement and painting and was subsequently added by e-mail Trustee consent. APT will send notice to # 12 SMB as well.
           

Management Report
Quail Run Condominium Trust

Management Report
Quail Run Condominium Trust

May 6, 2009

Delinquency Report:  This report covers the March collection of Condo fees.  There are no delinquent accounts. 

Unit#               Owner                                    Amount Owed           Explanation

Condo fees                              $     0.00
Fine                                          $     0.00
Late Fees                                 $     0.00
Parking                                     $     0.00
NSF                                           $     0.00

TOTAL                                    $     0.00

Pre paid condo fees:  As of March 31, 2009, the Trust has $26,844.89 in prepaid condo fees. 

Pool Heater Gas Line:  The gas line has been installed and we are in the process of scheduling a date to install the pool heater.

Pool Coping & Tile Work:  When the pool cover was removed by Rich it was discovered that the coping and tile needed to be replaced and all the tile work Rich did in the fall had fallen off.  At present we have one quote to install a poured concrete cap, tile, depth markers and deck joint for $10,800.  We are in the process of trying to get another quote and what options we may have before the meeting on Wednesday.

Garage Doors:  DG garage door were replaced on Thursday, April 30th.   Letters will be given to the Owners of #3, #6, #7 & #8 SBW that the garage doors in their carport are ordered and will take three to four weeks for delivery.  I now have at least three Owners from KM #1, #3 & #8 with a possible fourth #4.  Cost will be $972.00 per door charged back to the Unit Owner.  If I don’t hear from Mr. Dunn in Unit #4 by the Monday the 4th I will order the doors for the other units.

Insurance Claim:  The insurance claim for #11 & #12 SBW has been completed and checks have been given to the two owners.  #11 Sawmill received a check for $1,543.07 and #12 Sawmill received a check for $12,607.49.

Deck Painting Bids:  Craftsmen Restoration Inc. was awarded the bid to paint the VBW decks and will be starting around the third week of May.

TREX Decking:  At present we are waiting for two bids to come in from Scott Forbes and Walter Carmichael.  Both contractors will have bids in by our meeting on the 6th.

Management Report Meeting Updates:
            The Trustees accepted a $12,250 bid for pool coping, tile work, drain and filter covers and repairs. Of this amount, the drain repair cost, approximately $1,400, will be charged to the operating account as budgeted with the balance funded out of capital reserves. Work should be completed in time for pool opening on Memorial Day, May 25.
            The VBW deck sealing bid includes front porches, steps and painting of columns and skirt boards. The owners of 14 VBW and 8 VBW were commended for choosing TREX for their deck flooring, thereby saving the Trust the expense of current and future deck sealing. APT will ensure that sums paid to the sealing contractor are adjusted accordingly.
            The Trustees have decided to have two preferred bidders for TREX conversion and that no action will be taken on deteriorated deck planking, at least for this year. A notice will be posted at the mailbox area next week and sent to residents by e-mail explaining the deck situation and TREX program. The Trustees will also host a meeting of interested residents to answer questions on Wednesday, May 27 at the pool. D. Mussen will ensure that each preferred contractor understands our specifications and reports completed installations to APT.
            A. Downing will finalize painting/staining specifications for railings to be done in 2010 and procure bids no later than our October meeting for 2010 budgeting purposes.

Landscaping/ Special Landscaping:
            The Trustees endorsed the concept of initiating a new 5 year tree plan to be done by Bartlett without commitments or expense. Any resultant work will be subject to competitive bidding.
            The Trustees confirmed their intent to remove the DG planter box but will defer action until September to confirm that there are sufficient operating funds to cover the removal cost.
 
Next Trustees’ Meeting:  June 3, 2009, 5:00pm at the garage office.

Adjournment: The meeting was adjourned at 7:17pm.