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# Willamette Towers Board Meeting – via ZOOM ## Meeting WEDNESDAY, November 23rd, 2020, 5:00pm Board Members: Lauren Dame, Mya Johns, Hal Dillon, Clyde Horn, Jesse Fittipaldi BMC Personnel: Diane Sollinger, Tom Weaverling Owners: Bill & Barb Bomball, Linda Seymour, Jean Kern ### Call to order: 5:03 PM ### Agenda Approval – Moved Clyde, 2nd Mya, Unanimous approval ### Previous Meeting Minutes Approval: Moved by Lauren, 2nd Hal with changes noted - Unanimous approval ### Treasurer’s Report: Month ending October 31, 2020 #### A. Trust Account Summary Beginning Cash Balance [10/01/2020] $26,173.76 Plus Cash Received $55,162.22 Minus Checks Written ($66,560.06) Ending Cash Balance [10/31/2020] $14,775.92 #### B. Budget Comparison 1. Month-to-Date Actual Total Income $34,532.40 Total Expense $47,009.81 Difference: ($12,477.41) 2. Year-to-Date Actual Total Income $342,212.69 Total Expense $341,039.32 Difference: $1,173.37 #### C. Reserves (Morgan Stanley) Beginning Value [10/01/2020] $174,549.00 Credits $17,600.00 Debits $0.00 Change in Value $1.56 Ending Value [10/31/2020] $192,150.56 The CPA conducting the financial review of WT records noted that, in 2019, $51,000 in Operating Funds were transferred to Reserves, in addition to the regular monthly reserve transfers. The Board moved to approve that transfer of funds to Reserves, and officially leave the balance in question in the reserves. Moved to approve: Lauren, 2nd Clyde, Motion passed unanimously. ### Committee Reports: #### MMRC: 1st plumbing bid [of 3] received today. Awaiting others. #### Security/Tech Lighting project to complete the perimeter illumination has been completed. The replacement lighting for the lower level of the parking garage should be completed in 2 weeks. The only other lighting upgrades scheduled will be in the stair wells as the existing fixtures wear out. Fire bell/klaxon replacements for each floor are still in the testing stage. ### BMC Report: Actiongrams have all been cleared. ### Owner’s Forum: Linda Seymour had a question about egress from the lower parking area that doesn’t require using the steps. There is a security key box activator for the incoming ramp gate. Disabled residents have been supplied with keys. Tom will get two additional keys for short-term distribution. ### Old Business: none ### New Business: #### Next Year’s Budget. Budget as proposed has been sent to all owners. The increases in costs due to inflation require an increase in HOA of 2.5% which works out to between $5-$11 per unit per month increases. ### Next Meeting ON-LINE Meeting: Tuesday, December 22nd at 5:00 PM via ZOOM. ### Adjourned at 5.50 PM