Cas Casa a Blan Blanca ca Board of Directors Meeting April 14, - - PowerPoint PPT Presentation

Cas Casa a Blan Blanca ca

Board of Directors Meeting April 14, 2016

Agenda

I.

Roll Call

II.

Call Meeting to Order - Quorum determined

III.

Motion to Excuse Absent Directors

IV.

Proper Meeting Notice - Agenda has been posted in accordance with Florida Statutes

V.

Approval of Minutes - Mar. 12, 2016

VI.

Rental Manager Report

• VII. CAM Report
• VIII. Officer’s Reports

IX.

Treasurer’s Report

X.

Committee Report’s

I.

Grounds (Action Plan)

II.

Building

III.

Plumbing

IV.

Rental/Marketing (Action Plan)

V.

Hospitality

XI.

Old Business

I.

Lighthouse Contract

• XII. New Business

I.

Marketing Budget Request

• XIII. Comments from Owners

Set Date for next month’s meeting – Thurs. May 26th 6:30PM Adjournment

Rental Manager’s Report

CAM Manager’s Report

President’s Report

Transition To Do List

 Completed: (2/12 > 2/26 - day 15)

 Meeting with attorneys  Retained attorney for CBVR  Auditor contact  Insurance company - policies, proposal for additional liability coverage for BOD  Contacts with various Rental managers and companies, referrals, references  Interviewed 3/3 Management Companies  Interviewed 2/3 Rental managers  Interviewed 3/3 cleaning companies  Interviewed Head Maintenance  Contact w/ accountant for CBVR  Office access, keys, photos  Computers backed up  Bank signature cards 5/5, new account Retain Management Co (BOD mtg) finalize contract (Tom)

 To Do: (2/27 > 3/11 - day 30)

 BOD meeting - structure and Management co approval  Property/Rental Manager - (finalize Tom w/ Ana, Greg)  Head Maintenance finalize (Tom, w/ Lighthouse)  Maintenance man finalize (Head Main, Tom)  Rental Program Real Estate Broker (Tom)  Financial component for Rental Program /Broker (Tom, Greg)  Employee Contracts (Tom, legal, Lthouse) Finalize additional liability/BOD (Tom)

• Office staff interviews -14 pre-screened resumes

(Donna/manager)

• Reservation software (manager/reservationists, Donna)

✓ Cleaning Company finalize (Ana) Inventory - Maintenance, linens, office (photos, lists, quantities)

(Bld/Grounds walking property next week to prioritize action items and will take photos in storage, maintenance areas)

Transition To Do List

 To Do: (2/27 > 3/11 - day 30) (Cont’d.)

• Transfer Lighthouse from PCM - letter 3/4/16

Financial Records accts, credit cards, banking info, authorized signatures Documents Contractual Information Contractor bids Owner information- contacts, banking Software license transfer  Constant Contact membership info/access

 Feb Rent checks (PCM) Bank signature cards 5/5 (Tom, Ana > Donna, Greg, Lighthouse, manager)  TEAM Meeting 3:00 PM 3/11 new employees, BOD, CAM, rental financial/Broker - photos, organization 3/11 5:00 PM Locks, keys (locksmith) 3/12 BOD meeting - Welcome new staff, contract approval Newsletter to Owners (Tom, Jan) new employee team photos 2nd quarter maintenance payment info to owners (Lighthouse) Audit (in depth) through March 31 (Auditor w/Treasurer) Computer - website, reservation software, Constant Contact, owners link

(manager w/ domain owner and webmaster)

Review/revise staff expectations (manager)

Financial Report

Financial Report

 2015 Audit

 Audit conducted by Flanagan & Jason, Inc. – John Jason  Draft audit received March 21st  Final audit received March 25th  Expanded audit procedures for 2015 per Board’s request

• All sample sizes were doubled
• Examined 95% of all non-recurring invoices > $2,500
• Searched for vendors related to Board members or management
• Verified paver project payments agreed to original contract and approved CO’s
• Tested payroll and credit card expense activity
• Examined management contracts
• Tested rental income and rental commission income

 Auditor’s Opinion

• Financial statements present fairly, in all material respects, the financial position of CBA, Inc. and Subsidiary as
• f Dec. 31, 2015 in conformity with GAAP

Financial Report

 2015 Audit (cont’d.)

 Management Letter

• No opinion expressed on the effectiveness of CBA’s internal controls

– No deficiencies in internal controls were identified that were considered to be material weaknesses

• Several sets of BOD meeting minutes were not approved by the Board

– Recommend that all minutes be approved at the following meeting

• Strengthen internal controls

– Recommend all receipts be attached to credit card statements when approved for payment – Recommend the Board document the approval of all material invoices and contracts in the minutes  Board acknowledgement and acceptance of 2015 Audit – vote required  Audit will be posted on Owner’s Portal or a copy is available upon request

 2015 Tax Returns

 Federal and state tax returns prepared by Flanagan & Jason, Inc.  Tax returns signed and mailed on April 4th

Financial Report

 2016 CBA Budget

 February final numbers were not reported at March 12th BOD meeting as not yet available  Revenue

• Final numbers as of March 31st show revenue totaling $136,792 which is slightly under budget

Financial Report

 2016 CBA Budget - February (cont’d.)

 Operating Expenses

• Operating expenses for the same period total $140,939

also significantly over budget, leaving an excess of expenses over revenue (deficit) in the amount of $4,147

Financial Report

Balance Sheet - Assets

Financial Report

Balance Sheet – Liabilities

Financial Report

Balance Sheet – Equity

Financial Report

Reserves

Financial Report

 2016 CBVR Budget - March

 Introduction of RCM:

• John Luchowec
• Kathryn Han

 RCM currently implementing internal control of financials in-house for CBVR escrow & operating

accounts

 RCM in process of recovering data from unorganized paper trails, bank statements and data

provided from transition

• Internally, all financials are viewed & audited, & provided with backup documentation (required approvals,

invoices, receipts, etc.)

 Banks - Signatures in place. All invoices, charges, debits and transfers are validated/approved by

Shawna then processed by RCM

• All checks from/for Casa Blanca Vacation Rentals escrow account & operating account require two signatures

(RCM and Board)

 Quickbooks (accounting software) installed and updated at CB’s server onsite as well as RCM

• RCM will continuously provide updated data onto CB’s server
• Quickbooks structure being implemented, Chart of Accounts established and implementing/categorizing data

from bank, check stubs and Vacation RentPro

• Subcategorizing and prepping data for future reports processing

Financial Report

 2016 CBVR Budget - March (cont’d.)

 Updated technology and up to date security encryption being setup to ensure financial

documents are adequately protected

 Working on implementing data link from Vacation RentPro into internal accounting system  Working with Shawna to establish procedures and processing for Accounting Department:

Payroll, Owner Payments, A/R & A/P and Budgeting

 CBVR budget vs actual report for the month of March to be completed by Friday, April 22

Reserve Study

 Reserve Study

 Board approved engaging GAB Robins North America at March 12th BOD meeting

• Conduct an updated study

– Scope of Work - Update Reserve Study with Inspection

» Thorough on-site inspection of common area improvements/reserve components

– Detailed reserve funding analyses using both Component Funding Analysis and Cash Flow Analysis (Pooling Method) funding methodologies – Fee = $2,725.00  Reserve Study is in progress

Building and Grounds Committee

Building and Grounds Committee

 Building and Grounds Action Plan List

 IMMEDIATE

• General property clean-up Maintenance
• Security for Spring Break contract Shawna
• Pavers - need Atlantis contract Shannon
• Reserve study - GAB Robbins approved 3/12 Shannon
• Fence (w/Island House) repair?
• S trash gate repair
• Rec Room phone jack, meeting call-in machine Shannon,

Shawna

• Maintenance needs tools, supplies, landscape tools -

starting list Dan

• FPL utility pole by A18 Shannon
• Lights on apartment building on all day. Check timer

Dan

• Clear sand pile at south side of apt. (blocking flow from

parking lot) Dan

• Drainage hole at end of ramp needs to be cleaned

(Siesta Dunes)? Dan checks

• Trash room on first floor apartment building needs to be

cleaned Maintenance

• D7 – ask Ari about wire coming out of villa after

remediation Tom email

• Walk premises with Oakley improve cleaning up and

cutting bushes Dan, Nancy, GM

• Remove planters by A18 – use for signage One way sign

by B11, STOP sign by office

• Upstairs apt cleanup, organization, carpet cleaning,

shelving Shawna, Marcia

• Rec room book shelf clean out, new storage baskets, new

donated books

• New garbage/recyclable bins are needed at various villas –

call Waste Management

• Ask Fire department if they can replace rusted key box
• utside of door on apartment building
• S Office Shawna
• Drink machine out of rec room

Building and Grounds Committee

 Building and Grounds Action Plan List (cont’d.)

 SOON

• Laptop for office/rec room meetings RCM/GM
• Pavers - pooling remedy c16,17 Shannon/Atlantis
• Replace broken pavers throughout complex, including

exit area

• Apt gutters- have 2 bids, contacting Sutter about leak

repair Shannon, Bruce review bids

• B1 pool walkway flooding - have bid through Ari
• Beach chairs - current number is half needed chairs,

short term solution

• Plumbing letters - 20 villas remediation scheduling

Gary/Ari/Lighthouse

• Insurance review - contracts to Shannon (impact

window savings)

• Increase liability insurance for BOD -Tom/agent/Shannon
• Comcast - high def boxes install, wifi group rate -

Shannon

• Contract review - Oakley landscape out to bid -Shannon
• 101 water damage bedroom ceiling Dan checking
• Dryer needs to be replaced on 2nd floor
• Order new hand towel dispenser for beach bathroom
• Floors in rec room need to be professionally cleaned
• Power wash villas
• Paint cabana posts – put new hooks up -Maintenance
• Wipe down all doors at apartment building -Maintenance
• Touch up paint in breezeway
• Clothesline behind A4 taken down
• Black box on wall next to bulletin board by front office.

Take down and paint area

• Pump at exit needs new container and cleaned up
• Clean out storage area behind pump room
• Beach benches should be sanded (rust) and repaint
• Paint stepping stones around villas

Building and Grounds Committee

 Building and Grounds Action Plan List (cont’d.)

 SOON (cont’d.)

• Strip, paint and water seal 2nd and 3rd floor steps of

apartment building

• Door in breezeway needs painting
• Clean out beds around exit gate Oakley
• Need stone, rock, sod, shells and mulch for areas

between villas and exit area

• Pull bushes by A1 (SIDE) – no gutters on that side.

May need to talk to owner

• Redo bushes along B and C1
• Plant flower bed by entrance
• Palm tree health - feeding, water restriction at base

from pavers

• PAINT VILLAS AND SHUTTERS take down shutters

and villa #’s. (contract)

• A1 foundation crack (water at exit?) Bruce

Building and Grounds Committee

 Building and Grounds Action Plan List (cont’d.)

 LONG RANGE

• Golf Carts - electric
• Resurface swimming pool
• Improve handicap access - pool, beach
• Replacement fence w/Island House
• Beach chairs, comfort height, color
• Acoustic ceiling in rec room, new pictures, fans for rec room
• New larger TV for rec room/ meeting use
• Landscape beach side of apartment building
• Christmas decorations plan
• Upstairs apartment update into useable space
• Grill/picnic space
• Use pavers and stepping stones where needed on premises
• Long Range Landscape plan - increase FL Friendly, reduce

lawn grass, increase palms,

• unify look (mulch, plantings) increase green/succulents,

grasses

Rental Committee

Rental Committee

 Rental Committee Report

 Rental Committee Action Plan for 2016 is attached

• Priorities are a combination of concerns and requirements for Rental program identified by the Owner

Survey, Guest (Season) Survey, the GM and he Rental Committee

 Rental Committee/Marketing requests funding to join Visit Sarasota County (VSC) & Siesta

Key Chamber of Commerce (SKCC)

• Occupancy/rental income/marketing is a high priority/concern reflected on the owner surveys
• Unable to confirm any marketing/advertising memberships or venues after 2011
• Currently there is no Marketing money in the budget

 VSC membership Benefits

• Provides exposure internationally and nationally for Sarasota County, Siesta Key and its individual

members

• Provides support for marketing and contacts for booking inquiries
• Membership drive timeline is May so we can make sure CB is included in their publications

 SKCC membership Benefits

• SKCC provides website contacts for reservation searches - #1 Google ranked
• Visitor information website for SK
• CBVR will be included on website as a member association as soon as we join

Rental Committee

 Rental Committee Report (cont’d.)

 Two organizations are best and strongest marketing vehicles available and should be the

most effective place to start

 Motion: Committee requests BOD consider funding VSC membership package not to exceed $1,500 to

be paid in May plus SKCC membership not to exceed $500 to be paid as soon as possible – Vote required

Hospitality Committee

Hospitality Committee

 Hospitality

 Chair/BOD Liaison: S Geitz email: sgeitz@aol.com  Members: Bob Shattuck, Bonnie Stimpfl, Dave Murray  Purpose: To promote hospitality and community among our owners and renters  Responsibilities: purchase or designate someone to purchase and set up for activities; send

communication (card) as needed

 Actions:

• Immediate - ‘Friday Donuts’ for season renters Feb, March
• Soon - BOD Meeting treats for attendees (water, coffee, snack)
• Ongoing- card to recognize death in immediate family of owner
• (special birthday or anniversary?)
• new owner welcome
• staff recognition

Hospitality Committee

 Hospitality (cont’d.)

 Long Range Plan: Promote welcoming atmosphere

• Owners Social in January (possible progressive appetizers in several units)
• Fall owner activity (cook out at beach)
• Additional activities for season renters (Valentine, St Patrick, Easter Egg Hunt)
• Welcome communication for new owners
• Hospitality intern

 Annual Timeline:

• January - Owners Social
• September - Owner activity
• Feb/March - Friday Donuts, renter activities
• Ongoing - communications

 Budget:

• $20/BOD meeting
• $140 x 8 for Friday Donuts ($1120)
• $200 for January Social appetizers, drinks
• $30 communications

 Budget recommended for 2017 - $ 2,000

Old Business

New Business

BOD Meeting Dates

 Proposed BOD Meeting Dates



Thursday, May 26 - 6:30PM



Saturday, June18



Saturday, July 16 (skip?)



Saturday, August 20



Saturday, Sept 17



Saturday, October 15 or 22



Saturday, November 19 (’17 budget approval)



Saturday, December 17 (owner meeting/election material)



Annual Meeting Saturday, January 14, 2017

Thank you!