NOVEMBER 7, 2002

The following Directors were present:

Gloria Kron

James Call

Joe Fisher

A quorum being present, the meeting was called to order by the Vice-President, Gloria Kron, at the hour of 6:06 p.m.

The minutes of the September 26, 2002 Board of Directors meeting were distributed and reviewed. James Call moved to approve the minutes as written. Joe Fisher 2^nd the motion. The motion was approved.

The October receivable report was distributed and reviewed.

The September and October financial reports and reserve analysis were distributed and reviewed. The managing agent was asked to contact the elevator company to discuss some of the maintenance charges. The September and October financial reports and reserve analysis were approved as presented.

A letter to owner of unit 401 regarding vehicle storage was reviewed. It was decided to table this issue until the next meeting of the Board.

The next item of business was the interior painting proposals. The proposals submitted were distributed and reviewed. It was decided to approve a proposal from Tuffy’s painting. The managing agent was asked to draft up a contract to be signed and obtain color samples.

Janitorial services proposals and janitorial duties were reviewed. The Board would like Gene Paris to provide janitorial services to the Association. Joe Fisher volunteered to speak to Gene regarding the changes to the duties, business license, and general liability insurance. The Board will make a final decision once the proposal is reviewed to reflect changes requested by the Board.

2003 proposed operating budget and reserve analysis were distributed and reviewed. The managing agent was asked to do monthly transfers to the reserves beginning next year and to transfer $5,801.33 to the reserves this year. Several changes were made to the proposed budget and the budget was approved as amended. There was no change to the dues amounts in the 2003 proposed operating budget. The budget will be effective January 1, 2003.

An engagement letter from James Anderson, the Association’s CPA, was reviewed. It was approved as presented.

Being no further business to come before the Board to discuss at this time, the meeting was adjourned at the hour of 8:15 p.m.

 Follow up items