SOUTH SEAS NORTH CONOMINIUM ASSOCIATION
BOARD OF DIRECTORS MEETING - MINUTES
Wednesday, March 26, 2014
9:00 AM to 10:20 AM - SSC TENNIS CENTER
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1. CALL TO ORDER: John Bartolino, president, called the meeting to order at 9:00AM at the
Tennis Center meeting room.
2. ROLL CALL:
2.1
A quorum was present with the following directors in attendance:
John Bartolino, President
Sandy Friemann, Vice President
Nils Ericksen, Treasurer
Rebecca Leahy, Secretary
2.2
Jay Fisher unable to attend
2.3
Finance committee members present
Bob Trendel
Jim Nuthals
2.4
SSN manager, George Moore
2.5
One unit owner
3. Operating budget recommendations
A review was made of each budget line item and with projected figures for 2014-2015
determined based on the most current expense information and comparisons of historical
deviation between 2013-2014 projected and actual amounts. It was noted that significant
payroll increases were offset by a reduction in health insurance costs, these changes primarily
reflecting an alteration in bookkeeping methods to conform to federal guidelines. The
landscape committee submitted an outline of the three phases of the tree replacement
project with cost allocations for each phase. Increases were made to the water costs for the
2014-2015 fiscal year proportionate to estimated city increases that have been announced.
Items that remain on the budget without specific expenditure details or timelines include
the extent of asphalt maintenance and the timing for the painting of the pool fence. The
resultant finalized 2014-2015 budget will be recommended for approval at the April 17,
2014 meeting.
4. Reserve account budget recommendations
As part of the budget, a reserve amount of $140,000 will be recommended for 2014-2015.
5. Quarterly assessment recommendation
Projection of expenses with consideration for maintaining adequate reserves yields a
recommendation of an assessment of $1,695/quarter for 2014-2015.
6. MOTION to adjourn by John Bartolino and seconded by Rebecca Leahy. John Bartolino, Sandy
Friemann, and Rebecca Leahy in favor. Jay Fisher abstains in absence. Nils Ericksen, having needed
to leave early, abstained by absence. Motion passed. Meeting adjourned 10:20AM, March 26, 2014.