MINUTES

Approved on December 17, 2007

Board Meeting

1349 Race Street Condominium Association

November 16, 2005

The meeting was held at the residence of Stuart and Virginia MacPhail, 1133 Race Street. 

The Minutes were taken by Pok Payattakool.

The following board members were in attendance: Pok Payattakool (Unit 2A), Stuart MacPhail (Units 1A, 3, 4), Eric Guetterman (Unit 8), Kenneth Coombs (Unit 5), Kamala Schuster (Unit 7).  Others in attendance: Holly Rosati (Unit 6), Virginia MacPhail (Units 1A, 3, 4), Jeff, for Lee Resinger (Unit 1).

A quorum was declared and the meeting was called to order by Eric at 9:08 PM.

Minutes:

Minutes of the December 8, 2003 Board meetings were reviewed by Kenneth Coombs on a previous date. Kenneth Coombs moved to accept the Minutes as presented.   Kamala Schuster seconded the motion, and the minutes were unanimously approved.

Treasurer’s Report:

Re-Establishment of December 31 as Fiscal Year End –

Stu MacPhail pointed out that Article 15, Section D of the By-Laws set December 31 as the Fiscal year end, “Unless otherwise decided by the Board of Directors…”  He said he did not know when or why the fiscal year end was moved to July 31, but that he recommended a return to December 31, beginning as soon as possible.

Kamala Schuster moved that the Association adopt December 31 as the end of its fiscal year, by making the current fiscal year 6 months long, and beginning a new fiscal year on January 1, 2006.  The motion, seconded by Pok Payattakool, was unanimously approved..

Adoption of Operating Budget –

MacPhail presented a Proposed Budget for Fiscal Year 1/1/06 – 12/31/06.  After discussion, Pok Payattakool moved for approval of the Fiscal Year Budget.  The motion, seconded by Stu MacPhail, was unanimously approved.

GENERAL BUSINESS:

Election of Officers –

The floor was opened to nominations:

Stu MacPhail nominated Eric Guetterman for Board President. Other nominations: Kenneth Coombs for Board Vice President, Pok Payattakool for Board Secretary, and Stu MacPhail for Board Treasurer.

Pok Payattakool moved that nominations close, and that those nominated be elected by acclamation.  The motion, seconded by Kenneth Coombs, was unanimously adopted.

Adoption of Additional Rules –

The Membership amended the By-Laws as suggested, so Stu MacPhail suggested that the Board may wish to act to set a rate for parking in the two Association-owned parking spaces, and maybe delete reference to a specific towing company in Rule #4.

Pok Payattakool moved to charge $15 per month to anyone who wishes to rent either of the Association-owned parking spaces at the back of the building.  Meeting attendees discussed the topic of the Association-owned parking spaces at the back of the building.  The Board of Directors will decide other details when needed. The motion, seconded by Eric Guetterman , was adopted by a vote of majority.  Kenneth Coombs and Stu MacPhail abstained.

Next Board Meeting –

President  Eric Guetterman set February 22, 2006 at 7 PM, at  Stu MacPhail/ Virginia MacPhail’s residence for the next meeting of the 1349 Race Board of Directors meeting.

Adjournment:

At 10 PM, Kenneth Coombs moved for adjournment.  The motion, seconded by Pok Payattakool, was unanimously adopted, and the meeting concluded.

Attachments:

2006 Operating Budget – 1 page.

     Not Attached here.  See the 2006 Operating Budgets under "Financial Information."