July 15, 2023
MINUTES
PRESIDENT STEVE called the meeting to order at 10:00 am. The INVOCATION was given by JAY EDMONDSON
KAY ELLIOTT call roll, in attendance was Steve Roan, Pres., Pete Santilli,VP, Jay Edmondson, Treas. Kay Elliott, Sec., Marge Rector, Director, and Rick Nicholas, Director-Manager. Via Zoom was Tim Witucki, Director. Also in attendance were owners Diane Novak and Linda Starr.
Secretary KayElliott asked for a motion to approve MINUTES OF the BOARD MEETING March 28, 2023. Jay made a motion to accept the minutes as written and circulated, Marge Rector made the second. By a verbal vote the motion passed.
President Steve deviated from the order of the Agenda to introduce Star Herbig of FCA Insurance. Ms Herbig gave a presentation of time share insurance.
FINANCIAL REPORT Treas. Jay Edmondson introduced Accountant Ron Smith. Ron gave a review of the Resorts Assets and Liabilities including the Operating account.
OLD BUSINESS –
Manager Report – Mgr. Rick Nicholas reported that the roof has been completed and the renovation of unit 101 is nowcomplete and renovation has moved to unit 105. The railing and fencing around pool is repaired and looking good.
Steve Roan reported on the furniture. We can get furniture by the container, 1 20ft container will hold 4 rooms. Marge asked for a timeline. At this time none was given.
NEW BUSINESS
Insurance Discussion- After hearing the presentation from MS Herbig of FCA Insurance the BOD discussed the possibility of hiring FCA Insurance to cover our insurance needs. Pete Santilli made the motion to use FCA Insurance as our insurance company, Rick Nicholas made the second. By show of hands the motion passed.
Annual meeting – Date of the annual meeting will be Oct, 28, 2023 to begin at 10:00am. Held in the Resort, room TBD. Notices will be mailed 30 days prior.
Quorum Discussion – Steve brought up the fact that we have a difficult time obtaining a quorum as per our by laws stating that we have 26%, Chapter 721.13(7) FL Statutes allows for 15%. Thus, the need to change our documents. Rick Nicholas made a motion to change our by-laws to reflect the
same as the FL Statute 721.13. Pete Santilli made the second, in a show of hands vote the motion passed.
At 11:02 Steve suggested we take a brief recess before discussing the budget for2024. We will break until 11:10am.
11:10am the meeting reconvened. The budget discussion began with the Bookkeeper Diane Novak giving a report of the sales for the year. Pete reported hat the WiFi is increasing, the civil engineer study will be $1,500, salaries will remain the same. Bad debt is around $263k, our total expenses for the 2024 year are estimated at
$1,280,042.00 suggesting the annual maintenance fees be increased to $738.00. The general consensus is this is too much. Tim Witucki made a motion to approve $730.00 for the maintenance fees Jay made the Second. Motion passed unanimously. The 2024 annual maintenance fee will be $730.00 plus the $5.00 property taxes for a total of $735.00.
The meeting adjourned at 12:10
Minutes recorded by
Kay Elliott, Secretary Daytona Resort and Club Board of Directors