Brentwood of Palatine Condominium Board Meeting 12.27.2006 Budget discussion and open forum Annual...
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Transcript of Brentwood of Palatine Condominium Board Meeting 12.27.2006 Budget discussion and open forum Annual...
![Page 1: Brentwood of Palatine Condominium Board Meeting 12.27.2006 Budget discussion and open forum Annual election schedule Update on gate referendum Call to.](https://reader036.fdocuments.net/reader036/viewer/2022082600/5a4d1b007f8b9ab0599865a7/html5/thumbnails/1.jpg)
Brentwood of Palatine Condominium Brentwood of Palatine Condominium Board Meeting 12.27.2006Board Meeting 12.27.2006
Budget discussion and open forum Annual election schedule Update on gate referendum Call to order
– 11.22.06 minutes approval– Financial Report– 2007 budget approval– Contracts (Jani-King, JTW, Northwest Recovery, Redmonds
Towing)– Work orders, Alterations, Violations
Executive Session Adjourn
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2007 Budget Summary2007 Budget Summary
Assessments virtually unchanged No Special Assessments planned Re-allocation of finite resources
– Reduction in operating & Administrative Expenses– Increase in Maintenance
Greater self-reliance Capitol Investments
– Roofs– Laundry Equipment– Lighting– Carpeting– Painting
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Budget SpecificsBudget Specifics2007 Expense Composition
Operating36%
Maintenance22%
Taxes etc12%
Financial19%
Admin11%
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Budget Specifics Budget Specifics cont.cont.
3 Year Expenses Comparison
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
2005 2006 2007Operating Maintenance Financial Administrative Taxes & Insurance
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Budget Specifics Budget Specifics cont.cont.
2007 Capitol Improvments Schedule
$1,100
$1,150
$1,200
$1,250
$1,300
$1,350
$1,400
$1,450
JAN
FEB
MA
R
APR
MA
Y
JUN
JUL
AU
G
SEP
OC
T
NO
V
DEC
$0$2,000$4,000$6,000$8,000$10,000$12,000$14,000$16,000$18,000$20,000
Carpet Replacement Laundry Equipment Path Lighting Roof Replacement
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3 Year Comparison3 Year Comparison
2005 2006 2007
Total Income 623704 632602 648810
Total Expenses 648771 614794 648810
See Detailed Budgets
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Timeline InformationTimeline Information September 28th- New Board elected October 10th- No records turned over, 1st communication from
Association Attorney– October 27th – Non-financial documents returned to
Association Nov 22nd – In person request from PSI to former Board member Nov 27th – 2nd communication from Attorney
– Dec 7th- Checkbook turned in to Attorney– Dec 11th – 2 monthly account ledgers turned in to PSI
Dec 13th – 3rd and final communication from attorney prior to filing civil suit– Dec 21st – Receipts, invoices, monthly account ledgers
turned in to attorney
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Executive SessionExecutive Session Board Business
– Approval of Minutes– Contract Approvals
Thank you all for your involvement and attendance
this evening