Board members in attendance: Miriam Biren, Robert Boynton, Joseph Cann, Marjorie Cannon, Stacey Cohen, Nora Colford and Michael D’Angelo.  Board members absent: Al Lamoglia and Richard Re.  Debbie Shapass attended from Wentworth Property Management.  

1)   Minutes:  Minutes of the April 15, 2008 meeting were approved.  

2)   Financial Report:  

      a)   FY2006 audit:  Debbie Shapass did not have an update.  

      b)   FY2007 audit:  Cannot begin until FY2006 audit is completed.  

      c)   FY2008 budget:  Waiting for completion of FY2007 audit.  

      d)   Unit owners arrears:  April arrears report not available in advance of meeting.  The complete April financial report including arrears was distributed at meeting on CD by Shapass.  It was agreed that in the future Wentworth will distribute the monthly Financial Report as an email attachment to president, treasurer, and assistant treasurer as soon as completed (week in advance of regular board meeting).  The rest of the board will receive a CD copy on the evening of the board meeting.  In reviewing the March financial report, it was noted that unit 6-D which was sold during TKR’s management term appears to still be in the name of previous owner.  

e)      Special Assessment:  As the building’s Capital Reserve funds are insufficient for current capital repairs and the building’s Operating Reserves needs to be at approximately $75,000 on December 31^st, management recommended that a Special Assessment be considered at this time.  Such an assessment would cover the replacement cost of the new security video recorder, super's apartment renovation, water filtering system, and boiler’s hot water return pumps; as well as replacement of $25,000 in reserve funds which were removed this past spring to cover an operating shortfall.  The special assessment would assure that the building closes FY2008 on 12/13/08 with the 25% operating reserve necessary to meet the recommended fiscal guidelines.  This might still possibly leave an inadequate balance for the Capital Reserve, but would cover immediate repairs and address operating reserves sufficiently for the FY2008 audit on 12/31/08 and bank mortgage guidelines.  

      f)    Common Charge increase: There was additional discussion of the possible need for a Common Charge increase to cover additional operating costs since the last Common Charge increase several years ago.  It was noted that the last increase did not include any budget for increasing the Capital Repair reserve as was recommended at the time.  The board agreed that the need for a common charge increase could not be accurately addressed at this time pending completion of the FY2006 and FY2007 audits.  It was noted that the financial recording by TKR Management continues to cause problems for audit completion.

3)   Legal Report:  

      a)   The board reviewed a dispute between three owners in the C-line concerning liability for water damage.  Full cost of water damage to all surrounding units was determined to be the liability of the unit attributed as the source of the water leak.  

            Concerning the damage to an exhaust fan motor mounted in 2-C’s ceiling, the board determined that although the fan installation was not legal and had the board been aware of the installation it would have forced removal, damage to the fan unit as property of 2-C would be the liability of 4-C as though the fan had been laying on the floor; however 4-C should not be liable for re-installation since the board would force removal if it were to be re-installed.  

      b)   The board approved replacement cost and installation for a bathroom sink in unit L-H which was damaged during management’s building repair of a water service line clogged with sediment.  

4)   Building Repair & Maintenance Report:  

      a)   Water filtration system:  Two proposals for water filtration systems were reviewed from P.A.C. Plumbing & Heating and Alamonte Plumbing.  Shapass anticipates a bid from a third plumber.  

      b)   Boiler return pump replacements:  Two proposals for boiler return pump and tank replacements were reviewed from P.A.C. Plumbing & Heating ($9,800) and Alamonte Plumbing ($13,400).  Shapass anticipates a bid from a third plumber.  The board favored the P.A.C. bid on account of price and performance upgrades, however on account of the substantial cost of replacement and current lack of funding, the final decision was deferred pending vote including absent board members.  

      c)   Building Super’s Performance Review:  There was discussion of the super’s work hours, 24 hour limited availability and response to management, unauthorized requests for overtime, use of temporary labor after being rejected by management, and the question of a privately billed project being conducted during regular work hours.  It was reviewed that overtime is only available when authorized by management and in the past only comp. time has been provided to the super.  According to the super’s contract, he works a 40 hour week, although it states that his scheduled hours may be shifted by management according to building needs.  The super is not to lend out his cell phone to family members; as the building reimburses the super for this phone in order for management to have access to the super at all times for emergencies; day and night, seven days a week.  The cost of bottled water or other beverages provided to maintenance contractors will not be reimbursed by management.  Receipts which have been substantially altered or are duplicate copies of receipts previously submitted will not be reimbursed.  Debbie Shapass will confirm building polices and the board’s concerns with super in writing.  

      d)   Landscaping:  There was no update from the Landscaping Committee.  

The meeting adjourned at 9:30 p.m.  

Minutes submitted by Robert Boynton, Secretary