Finance Recap - February

NOTE: The following was scanned to text using OCR technology and is only one page from a detailed monthly report.

Marina View Tower Condominium Association

c/o Surf Site Management, LLC * 39 Main Street O Bradley Beach, NJ 07720-1027 732-869-4450 * www.surfsitemgmt.com

Workshop for Trustees

Marina View Tower Condominium Association				Agenda
Subject:	Subject: Workshop between Surf Site Management & Trustees Meeting not open to Association Members
Date: April 1, 2008		Time: 7:00 pm	Location: Marina View Meeting Room

 

1. Financial Status
1. As of March 26, 2008, $32,963.95 was owed to the Marina View Association by some members (based on current Surf Site Management reports).
2. Liens, a number of liens have been initiated
2. CPA Audit
1. Financial data (2007) delivered to the Jampol Group on March 4^th
2. Physical records (e.g. invoices, computer files etc.) as of this date, have not been delivered.
3. Fire Inspections Status (i.e. 3 inspections since last summer)
1. Water Pump repair
2. Emergency Generator Issues
1. Annual testing requirement
2. Water Pump must be wired to Emergency Generator
3. Fire alarm system must be wired to Emergency Generator
4. Additional emergency lighting and new exit signs are required on each floor.
5. Garbage Room chute doors not in fire code.  Must be modified or replaced.
4. Progress of Management Transfer
5. Waterproofing and Roof Repairs, i.e. Status thereof
1. Replacement date for torn screens by Valcourt
2. Results from new test strips
3. Valcourt's spring starting date
4. Repair of eroding cement on balconies, extra $12,000 to $20,000

 

Surf Site  Management, L. L. C.

Meitzner, Gus, CMCA, AMS 

Board of Trustees

Read, Thomas - President
Decker, Robert - Treasurer
D'Elia, Marian - Secretary
Decker, Richard
McGuinness, Maureen 

NEWS LETTER

News Letter: January 2008
(originally sent out as a hard copy (in January) and is reposted here March 29,2008)

Management Group to be Phased in.
Surf Site Management located in Bradley Beach, has been chosen to replace Maureen McGuinness who is retiring in June. The management group is comparable in cost to what we are currently paying for management and bookkeeping.  Concerns about an outside management group, should be allayed knowing the following provisions are in the contract:
1) We can terminate the management with a 30 day notice.  We are not locked in for extended periods.
2) All checks written by Surf Site must have documentation and be signed by two board members. Note: checks can't be written without board oversight
3) Surf Site will give us 3  bids on all contracts.  The board maintains the right to choose their recommendation or go else where.
4) Current Plan: As of February 1st, Surf Site will start to take over the accounting & management functions.  A letter will be sent to all owners explaining new procedures.  March 1st, they will have full control.  Also, during this period there will be a meeting to introduce all owners to Surf Side Management. 


Unit Owners Voices Where Heard at O.P.M.
2007 had the first Open Public Meeting (OPM) as required by law where the unit owners voices where heard.
2007 had the first Secret Ballot system for electing Board Members.
2007 re-established the strict adherence to our Master Deed and Bylaws as required under New Jersey Law

Marina View Tower's Blog Opens for Business

2/16/2008 - The MVT's Blog is created