Community Association Clipping - CAC

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“A HELPFUL SOURCE OF INFORMATION AND

SERVICES CREATED EXCLUSIVELY FOR DEVELOPERS

AND DIRECTORS OF COMMUNITY ASSOCIATIONS”

Issue 2

2010 H2010 H2010 HU RRI C A N EU RRI C A N EU RRI C A N E SEA SO NSEA SO NSEA SO N : I: I: ITTT ’’’SSS AL MO STAL MO STAL MO ST OV EROV EROV ER !!!

Nov./Dec. , 2010

COMMUNITY ASSOCIATION CLIPPING

PALM BEACH AND BROWARD COUNTIES EDITION

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3 Hurricane SeasonHurricane SeasonHurricane Season

Access SystemsAccess SystemsAccess Systems

5 BankingBankingBanking

ARTICLESARTICLESARTICLES


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“A HELPFUL SOURCE OF INFORMATION AND

SERVICES CREATED EXCLUSIVELY FOR DEVELOPERS

AND DIRECTORS OF COMMUNITY ASSOCIATIONS”

Issue 2

2 0 1 0 H2 0 1 0 H2 0 1 0 H U R R I C A N EU R R I C A N EU R R I C A N E S E A S O NS E A S O NS E A S O N : I: I: I TTT ’’’ SSS A L M O S TA L M O S TA L M O S T OV E ROV E ROV E R !!! BBB YYY OOO R L A N D OR L A N D OR L A N D O PPP E R E I R AE R E I R AE R E I R A

Nov./Dec. , 2010

COMMUNITY ASSOCIATION CLIPPING PALM BEACH AND BROWARD COUNTIES EDITION

As of November 1, 2010, there are four weeks left until the end of the official hur-

ricane season, which runs from June 1 to November 30. To date, 14 named

storms have developed, seven of which have become hurricanes, with five reach-

ing major hurricane status (category 3 and above)."

Based on the historical record, late-season storms are rare, but not unheard of.

According to the online site of the Na-

tional Hurricane Center, the latest

hurricane to make US landfall hit near

Tampa on November 30, 1925. Typi-

cally, we don't expect named storms

to form in late season.

Although the current season has been

a busy one; since 1950, only two sea-

sons 1995 and 2005 have had more

named storms by this point (over 14

named storms by 5 Oct), These sea-

sons went on to have 19 named

storms (11 hurricanes and 5 major

hurricanes) and 27 (15 hurricanes, 7

major) respectively, and according to

specialists, ( continues on page 10).

A R T I C L E O F T H E M O N T H :

Controlling Access to

Your Community B Y S C O T T R O E T H E R

Do you really know who is entering

your community or building?

Controlled access is usually

accomplished with gated entry, at the

roads leading into the community, the parking lot, and access controlled doors for

building entry,. Whether manned or unmanned… (continues on page 7).

Services & Products

Access Systems 4

Banking 14

Collections / Funding 4

Design / Decoration 12

Furniture Restoration 7

General Contractor 15

Golf Cart Sales / Service 6

HVAC / Plumbing 6, 11

Insurance Services 7, 16

Landscaping 8

Odor Control 8

Painting / Waterproofing 10

Pressure Cleaning 13

Property Management 2

Roofing 12

Security Services 5, 10

Water Damage Restora-tion

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How Safe is your Money?How Safe is your Money? By Tina Turner Are you sure your rate of return is stable? Several months of gloomy economic reports have left many wonder-

ing why financial institutions are offering higher than market rates for deposit funds. As alluring as this may be,

earning more does not always outweigh your risk and peace of mind. Now, more than

ever, working with a bank that understands the need and financial services of an asso-

ciation is essential to keeping your money safe.

As an association board member you manage day-to-day operational needs of your as-

sociation and accept responsibility for managing deposit funds and financial relation-

ships. It is without question that you would look for the highest yield; however, the pre-

sent market conditions make these yields questionable. Abnormally high rates draw

the attention of potential depositors and like most, we are all looking to get more for

our money. However, the old saying, Caveat Emptor, “Let the Buyer Beware”, is a con-

sideration when determining where and at what rate you will deposit your funds. A thor-

ough investigation of the proposed terms and strength of the institution must be made

before you make a decision. Wall Street has shown us that greed and fast money is

poor business planning. A consistent stream of stable interest accruals is the wise

choice and as a board member, acting with due care and diligence on behalf of your

association members is paramount to fulfilling your fiduciary duties.

““Investigate your deposit options and work with an institution that has the customer base and experience of Investigate your deposit options and work with an institution that has the customer base and experience of

working with associations such as yours” working with associations such as yours”

As you know, banks operate by accepting deposits resulting in increased liquidity or lending capacity. The evalu-

ation of the capital adequacy and performance of a bank is addressed by understanding the banks interest rate

risk and credit risk. When a bank effectively manages its interest earned from loans and the interest paid on

their deposits, it generates a positive interest spread. To protect itself, a bank will set aside capital to absorb

potential losses. The recent economic slow down is putting pressure on borrowers to continue to meet their

agreed upon obligations to the bank, thus, a bank ... ( continues on page 14).


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Controlling Access to your Community (continuation) By Scott Roether

... there are a variety of options for the association to choose from.

For resident entry, the credential can be a transponder, barcode, transmitter or access

card, or a combination. Each is controlled by an access control system, which allows

the community to suspend / delete privileges, as needed. Each type of credential has it advantages and disad-

vantages. There is no standard since the decision makers, may prefer one type of technology over another.

For example, with transponder and barcodes, these credentials are affixed to the vehicle, so there is no possi-

bility to passing them around.

For visitors, the difference is whether the entry is manned or unmanned. If manned, there are a variety of Visi-

tor Management software’s available, the guard can use, that provides database of authorized guests and

most important, a recorded transaction of the guests entry. Many communities are requiring a drivers license

to verify identity, which can be scanned into the visitors file for future reference, plus the picture can be print-

ed on the guest pass. In unmanned, all visitors use a telephone entry unit, which allows the visitor to dial the

resident, who then grants entry from their telephone. But, there is no record of who is entering the property.

Incorporating Video Surveillance at each location has become more popular. With a properly designed and in-

stalled system, all visitors and residents can be recorded with video capturing the vehicle, license plate, and

the driver. This is especially helpful when property damage occurs, by allowing the association to view the vid-

eo, to see what really occurred. Should law enforcement become involved, the video is a valuable tool. The

investment in Video Surveillance has assisted many associations, in recovering the costs of damages, that oth-

erwise, would have been incurred by the community.

Controlled egress (exiting) is another type of control, which some communities have instituted. Residents will

utilize the same technology to exit the community, as they use to enter the community. All visitors / guest are

required to be “checked out”, either by the guard or scanning a barcode on their guest pass. At remote loca-

tions, scanners can be installed in a housing, to allow a visitor to use an un-

manned gate to exit. Only communities that are manned, utilize this type of sys-

tem. It allows the community to know who is still on property, which is important

with contractors, who are generally required to leave by a specific time.

A company that specializes in these type of systems, can assist you in develop-

ing a proper Access Control plan. Their expertise is invaluable since they

“integrate” various manufacturers and systems, to provide their proper solu-

tion.

Regardless of whether you do the entire system now or over time, the key is

making sure you have the right building blocks in place, to achieve your final

goal.

Scott Roether is the President of TEM Systems, Inc., in Sunrise, Florida.


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2 0 1 0 H2 0 1 0 H2 0 1 0 H U R R I C A N EU R R I C A N EU R R I C A N E S E A S O NS E A S O NS E A S O N : I: I: I TTT ’’’ SSS A L M O S TA L M O S TA L M O S T OV E ROV E ROV E R ! ! ! ((( C O N T I N U A T I O NC O N T I N U A T I O NC O N T I N U A T I O N )))

BBB YYY OOO R L A N D OR L A N D OR L A N D O PPP E R E I R AE R E I R AE R E I R A

...even if storms like Wilma have formed late in the season, the likelihood of storm

formation in the eastern tropical Atlantic near the Cape Verde Islands drops consid-

erably in October, with the focus tending to shift westward towards the Caribbean.

This is apparent from analysis of where late season storms have typically formed

from 1851 to 2009.

Obviously, all the favorable data brings tremendous comfort; however as we Flo-

ridians know so well, we should continue to be alert and, more so the professionals

and officials in charge prevention measures. Lets continue to keep our Hurri-

cane Preparedness Plan on top of our desks because the Hurricane season is

“only over when is over”!

Orlando Pereira , LCAM, CMCA, AMS is the Managing Director of LG Asset Management & Consulting, Corp. in

Boca Raton Florida


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How Safe is your Money? How Safe is your Money? (continuation)

By Tina Turner

… must have sufficient capital on hand. Failure to meet its obligations can put the bank in a position where

increased capital is a necessity. A bank must be prepared for the unexpected. As a board member, you un-

derstand all too well the need to raise capital to cover the unexpected costs of your association,

To help associations choose a stable banking institution during such uncertain times, Bauer Financial is a

reference tool for safety and soundness of a bank. Bauer Financial has been analyzing and reporting on the

financial condition of the nation’s banking industry since 1983 and has developed a 5-star rating system to

help you make an informed decision on where you are going to make your next deposit.

Let’s face it, the recent economic slow down has affected everyone and has altered banking as we know it,

but you have the power to make smart decisions. Investigate your deposit options and work with an institu-

tion that has the customer base and experience of working with associations such as yours. Unlike the vola-

tility of Wall Street, moderation is the key - not swinging too far one way or the other because you are only

looking at the rate of return. Remember your association members have entrusted you to manage their

funds.

Tina Turner is Vice President/Association Specialist for Gulfstream Business Bank in Port

St. Lucie, Florida.


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