Meeting Minutes of the Board of Directors

MEETING MINUTES OF THE BOARD OF DIRECTORS

OF TREAUSRES ON THE BAY II CONDOMINIUM ASSOCIATION, INC. (“Association”)

NOTICE IS HEREBY GIVEN in accordance with Section 4.6 of article 4 of the Association’s By-Laws that a Meeting of the Association’s Board of Directors (“Board”) was held in the Club Room located at Treasures on the Bay II, 7501 E. Treasure Drive, North Bay Village, Florida, 33141, on THURSDAY September 22, 2015, at 7:00 PM.

BOARD MEETING

1. Call to Order: President Parada called the meeting to order at 7:03pm
2. Proof of Notice of Meeting; C Bruett stated that the agenda was posted 48 hours in advance on the bulletin board by the mailboxes.
3. Establishment of a Quorum: J Parada, Present, O. Ellingron present D Primo absent
4. Reading and Approval of August 25, 2015 Board Meeting Minutes: Motion made to accept as distributed, 2nd all in favor
5. Monthly Review

1. AFS Report. /ALG Report/ EOM Report C Bruett reported AFS contributed $74,157.95 to operations, however reminded that we were advanced $10,000 to cover early month expenses. There is a $75,000 line

e. Property Management Report

• Cash Position / Accounting Summary; Standard monthly expenses $57,082.58 with $5,745.75 in non reoccurring expenses
• Projected cash flow and summary of borrowed funds: Todays balance plus deposit less uncleared or not written checks plus AFS forecasted deposit for remainder of the month will net a month end projection of $26,172.51. There was discussion regarding our balances at the end of each month. A motion was made by Preside Parada to determine at the end of each month an amount to be transferred to a special account which we will begin to accumulate funds in for major expenses, thus avoiding a special assessment to owners, 2nd by Ellington all in favor. C Bruett to set up the account.
• Bank Account Activity; distributed the bank account totals as of this AM

1. Pending items from previous meetings

a.)Water saving proposal – update – There are 22 units still to pay. Outstanding balance of special assessment is $3,923.00. Motion made by Parada to pay the balance due out of the Lease account, 2nd all in favor

b’) Balcony Repairs – update; Roland, who was contacted by Ozzie Ellington to come and give us a bid was here with an engineer right after out last meeting but to date has not come back with a proposal , have contacted him several times and he is working on it.

c.) Back Entrance hallway project-floor will be installed in 2 weeks, Ceiling is complete, once floor

is complete will begin putting up art work, lights, etc

d.) 2016 projects – hallways, etc getting bids for carpet and paint.

Board of Directors cont’d

e.) Annual meeting – Set for November 19, 2015. Budget, C Bruett will be working on and is to

produce with no increase and a line item to offset the Reserve calculations.

1. New Items

As appropriate to the Board ; none at this time

1. Miscellaneous / Other Business as appropriate to the Boards; none at this time

9.) Adjournment: President Parada adjourned the meeting at 8:15PM

By: Christa Bruett CAM

Treasures on the Bay II Condominium Association, Inc