President's Report - Eileen R. Bendis - President Eileen R. Bendis read her President's Report. Click Here to read the President's Report.

PRESENTATION AND APPROVAL OF THE CY2018 PROPOSED OPERATIONAL BUDGET
Steve Faigin, Treasurer
Andrew Surdovel, Manager
Teresa Baker, Accounting

• Manager Andrew Surdovel

  It’s been a year of changes for Regency Tower Association. With the departure of our previous manager at the end of 2016, we have a new manager and a new accountant in the office. The Association’s 2018 budget was reviewed and created in detail on a line by line basis using the 2016 audited financials and the 2017 year-to-date expenses. Our new manager has been diligent about reviewing and re-negotiating many of the contracted services and operational expenses to maintain our building and protect our investment.

• The budget is presented to you in the same format as our year-end audited financials as prepared by our certified public accountants, Charles A. Krblich. With no increase in the maintenance assessments for the past 3 years, we have experienced increased costs related to employee costs, contracted services, litigation and the operational expenses of your aging building. The projected figures for the total maintenance income are 3% over the 2017 budget which generates approximately $40,000. (The operating deficit in 2016 was $40,000) The Board and management will continue to review expenses and make recommendations that improve our building and protect our investment.

  • As a self-managed Association, more than 45% of our operating budget is Salaries & Wages for our 18 employees. Currently we have 9 full-time employees and 9 part-time employees. This category includes health care costs that continue to rise. The Board is reviewing options to mitigate the industry increases that have out-paced annual inflation or the cost of living. We also experienced an increase of $3,000 for the Workman’s Comp Insurance Policy for 2018.

  • Insurance and Taxes’ represent 20% of our annual operating budget. With the assistance of our insurance broker, we have renewal quotes and we do not expect a significant increase for next year.

  • Utilities Expense - We do not expect an increase for 2018.

  • Contracted Services – Contracted services include our agreements for cable, pest control, elevator maintenance, beach cleaning. trash removal, the annual audit and tax return preparation as well as other various services to maintain our building. The largest contract is cable. Our current contract with Comcast expires at the end of 2017.

    • Staff Accountant Teresa Baker

      Cable: The projected budget presented tonight does not include the new contract with the cable provider. Although board members are in the final stages of negotiating a new contract, this agreement has not been finalized as of the date of this meeting. The cost of cable is separate than the operational maintenance. The cable cost will be added to the budgeted maintenance assessment of each unit after finalized in the upcoming weeks.

    • Year-End Audit: We expect to engage Charles Krblich Certified Public Accountants to perform the annual audit. The annual audit of the Association’s financial records is performed in February each year. A full audit includes a review of internal controls. We are pleased to have received an unqualified opinion each year; no internal control weaknesses were brought to the attention of the Board. After discussion with the accounting firm this month, we expect to receive an engagement letter soon and there will not be an increase in fees for 2018.

  • Operational Expenses are a significant portion of the budget. Although many of the expenses are routine, some expenses in this category are hard to predict. Plumbing, Electric, Common Area Air Conditioning, General Restoration and Engineering expenses are included in this category. If we have a significant expense, the Board decides whether that expense will be funded from the Building Reserves or Operational Revenues. In 2017, we have several expenses related to the Pool Pump and extensive plumbing repairs in the garage which met that criteria. A total of $ 13,040 was funded from the reserves in 2017.

  • Secretary Fern McBride

    Administration – These are expenses related to the office. This category includes postage, printing, computers and office machines. No increase for 2018 is budgeted.

  • Other Expenses – One-time expenses and capital projects within the building. The 2018 Budget includes several items including roof maintenance, and a domestic water pump.

  A motion was made by Eric Berkowitz that the Proposed CY2018 Operational Budget be approved to present to the membership. The motion was seconded and passed by general consent.

  Please Note - (Copies of the budget are available in the office - only to members.)

  Adjournment - No further business. The meeting was adjourned at 7:30 p.m.

  Fern McBride
  Board Secretary

  Click to Top of Page

   

  

  PRESIDENTS REPORT

  NOVEMBER 1, 2017
  

  Board President Eileen Bendis’
  Message to Members
  

  Pres. Eileen Bendis

  Irma Hits Fort Lauderedale

  Many of you have said that I should respond to the letters you have been receiving from a resident..BUT..Guess what!!?? I don’t have time for that.

  I have seen the light! After seeing the devastation caused by hurricanes in Texas, Florida and Puerto Rico, the fires in California and the killings in Las Vegas, I can’t be bothered with pettiness. Thousands of homes and memories lost. Does anyone realize how fortunate we are? I have a roof over my head, a job that I like, food on the table, a car that runs, and I get to look out my window to a gorgeous sunrise and majestic ocean every day.

  Hurricanes Irma and Maria Devastate Puerto Rico

  Even if you have money in the bank, where do you go to live after these disasters?? I can’t get it out of my mind. I have seen the light! We are so fortunate that we had only minor damage and inconvenience. We didn’t even lose power. Puerto Rico still doesn’t have power after a month!! I can’t imagine the chaos around here if we didn’t have power for a month! Somehow, I’m sure, it would have been my fault. The feeling I got after giving a co-worker some clothes and miniature shampoos and soaps for her father in Puerto Rico, cannot be expressed in words. Her tears said it all.

  Yes, those of you that want to divide and disrupt, knock yourselves out. I have seen the light and you can’t extinguish it. Those of you that have an agenda against me-knock yourselves out. I don’t care; take your best shot. No matter what, I am still here with a paid-for condo on the beach, good health and good friends.

  Although we have dodged this bullet, I pray that we don’t get complacent and not fear the next “big one”. Evacuations and preparations are necessary.

  
  

  
  Eileen Bendis
  (Your Actual President)
  

  “Loud and noisy persons are almost always trying to get you to pay attention to them instead of the voice of your own heart, it is OK to let them go.”

  - Michael Shook

  
  

  Click to Top of Page

  

  NOVEMBER 1, 2017
  

  
  The Monthly Association “411”

  

  General Manager Andrew Surdovel

  Board President Eileen Bendis

  November 1, 2017 - The start date for concrete restoration of the building and balconies has not yet been determined, but we’re getting closer! Our building is getting back to normal after Hurricane IRMA. The fencing has been repaired and the landscaping is being brought back to shape. We will be planting annual flowers in the garage entrance, and the area adjacent to the front entrance. This is our second request for all unit owners to replace their wooden balcony door. All unit owners should replace the wooden door with an aluminum impact glass door. Christine (in the office) is still compiling a list of unit owners requesting that their doors be changed to an impact glass door.

  Impact Glass Balcony Door

  The Beach Raker has finished leveling the sand and restoring the sand dunes on the beach after Hurricane Irma. The cabanas are being placed on the beach according to the cabana position matrix. Pool personnel is only placing the cabanas of the unit owners that are in residence, the others will be placed upon request. Package notification and parking passes are working well. If you have a concern on package delivery, please contact the office. Again, our Concierge Plus website is 1regencytower.com.

  Its above someone's home

  The office will be issuing new Regency Tower parking decals in the very near future. The inside parking decal will correspond to your assigned parking space number, the outside assigned number will be random and not correspond to any space. This will enable Security to identify you as a Regency Tower resident. We are starting to compile a list of hot water heaters that are deteriorating and past their expected life. These decrepit water heaters can cause massive damage if they leak to floors below. The simplest method is to replace the water heater when it is beyond 12 years old. The letters will go out to each unit owner deemed having a bad water heater. If the unit is not replaced, the unit owner will be responsible for all damages.

  Bogdanoff Hunts Retrofit Relief

  To recover the $billions lost when former Florida lawmaker Ellyn Bogdanoff’s 2010 legislation empowered thousands of Florida high-rise associations to “Opt Out” of a sprinkler retrofit, Fire Sprinkler Association lobbyists engineered a May 4, 2016, Declaratory Statement authorizing local Fire Marshalls to demand that Florida high-rise associations retrofit a $multi-million Emergency Life Safety System (ELSS) – an arbitrary collection of fire safety features that includes a fire sprinkler system.

  Representative George Moraitis

  Outraged by a “bait and switch” ploy to circumvent the will of the Legislature, District 93 Statehouse Representative George Moraitis and Senator Kathleen Passidomo filed legislation to provide association homeowners with the right to forgo the mandated ELSS retrofit. They were joined by Bogdanoff, who steered the bills to a near-unanimous approval in both chambers (only one lawmaker opposed the bills)

  Senator Kathleen Passidomo

  When a media storm surrounding the June 14 fire at Grenfell Tower in London prompted the Governor to renege on his promise to withhold a veto, disappointed lawmakers pointed out that proliferation of the London fire was attributed to combustible aluminum cladding affixed to the building’s exterior (which is not protected by the features that comprise an ELSS).

  Since the deadline for installing the bogus ELSS is December 31, 2019, our lawmakers are refiling the “Opt-Out” bills again this year to thwart this mercenary scam. Having opened discussions with the Governor’s office to avoid the prospect of another reactionary veto, and exploring a potential veto override, associations from across the state are contributing to the resources required by Bogdanoff to

  Our Christine

  fend off the deep-pocketed Sprinkler Associations and once again bring the bills to fruition – considering how they might otherwise be forced to burden unit owners with $multi-million assessments.

  Our office Administrative Assistant, Christine, had a knee operation on October 26th. Christine is recuperating at home and will return in a month as good as ever.

  
  

  

  Eileen R. Bendis		Andrew Surdovel
  Board President		General Manager

  Click To Top of Page
  

  

  

  Home Page | Archives

  Click to Top of Page
  

  ---