DATE: WEDNESDAY NOVEMBER 20, 2019 TIME: 11:00AM...
Transcript of DATE: WEDNESDAY NOVEMBER 20, 2019 TIME: 11:00AM...
VENETO in Miramar Condominium
18503 PINES BLVD SUITE 211 PEMBROKE PINES FLORIDA 33029 Phone 9544997320
November 5 2019
REF 2020 BUDGET ADOPTION MEETING ANNOUNCEMENT The VENETO in Miramar Condominium Board of Directors will hold a budget adoption meeting this month DATE WEDNESDAY NOVEMBER 20 2019 TIME 1100AM LOCATION 3600 RED ROAD SUITE 306 MIRAMAR FL 33025 Unit owners are welcome to attend or contact the management office prior to the meeting with any questions
Veneto in Miramar Condominium
November 5 2019
VENETO in Miramar Condominium 18503 Pines Blvd Suite 211 Pembroke Pines FL 33029
REF 2020 Proposed Budget
Dear VENETO Unit Owners
We are pleased to present the proposed 2020 budget which will be adopted by the board at the next meeting of the board of directors Total expenses including reserves will increase by 67 feel free to contact me or the property manager prior to this meeting with any questions
MAINTENANCE AS
You can also view the 2018 Annual Financial Statement available at the associations web portal (wwwVnetInfiom) in the Resource Document section If you have not already done so please be sure to register at the association web portal to remain updated with regard to association news and building alerts
The board is pleased to serve you and welcomes active participation by all unit owners in the coming year
Sandra Rolon President
Cc Angela Messam Treasurer Alex Remos VP amp Secretary
18503 PINES BLVD SUITE 211 PEMBROKE PINES FLORIDA 33029
Phone 9544997320
VENETO in Miramar Condominium Association Inc Estimated 2020 Operating Budget
Revenue 2019 Est 2020 0amp11 Change Maintenance Assessments $ 188147 $ 200726 67 Parking Revenue $ $ Antenae Revenue $ 7500 $ 7500
Total Revenues $ 196647 $ 208226 64
Operating Expenses Accounting $ 2000 $ 1500 -250 Attorney - Legal $ 2000 Annual Report $ 61 $ 61 00 City Miramar Tax (new) $ 895 Bank Fees $ 1300 $ 1300 Postage $ 150 $ 150 00 Website $ $ Insurance $ 25000 $ 25000 00 Property Management Fee $ 31200 $ 31200 00 Janitorial amp Paper products $ 10200 $ 11 500 127 Garbage Disposal $ 9400 $ 11500 22 3 Elevator Maintenance $ 8000 $ 8000 00 HVAC Maintenance $ 3000 $ 2000 -333 Lighting Maintenance $ 2000 $ 1500 -250 Roof Maintenance $ 2500 $ 2500 00 General Repairs amp Maintenance Labor $ 12000 $ 10000 -167 General Repair amp Maintenance Supplies $ 3000 $ 2000 -333 Irrigation Maintenance (Laborllnspection) $ 500 $ 1100 1200 Landscape (maintainllawnreplace) $ 9200 $ 18400 1000 Landscape - MulchlTree Trimming $ 1916 $ 4800 1505 Landscape (Storm Debris Removal) $ 1500 $ 1000 -333 Landscape (Fertilzation) $ 1000 $ 1518 518 TelephonelDSL $ 2800 $ 1000 -64 3 Fire Sprinklers Backflow Certification Testing $ 2500 $ 2500 00 Fire Alarm System amp Elevator Monitoring $ 1500 $ 1500 00 Pressure Cleaning $ 3300 $ 1500 -54 5 Pest Control $ 1200 $ 1200 00 PropertyLandscape Improvements $ 2318 $ 5000 1157 Utilities-Electric $ 19500 $ 18000 -77 Utilities-Water $ 5000 $ 4000 -200 Window washin~ $ $ 2000
Total Estimated Operatlngxpenses $ 162046 $ 174624 18
Reserves Exterior Paint $ 8750 $ 8750 Sealcoat Parking $ 3000 $ 3000 Resurface Parking $ 2046 $ 2046 Roof $ 13615 $ 1361 5 HVAC $ 2857 $ 2857 Elevator $ 3333 $ 3333
Total Estimated Reserves $ 33601 $ 33602 00
Total Est Expenses wIth Reserves $ 196647 $ 208226 64
$ 12579
APPROVED BY DATE
Every effort is taken by the board of directors to ensure responsible operation of the association within budget contraints However the amount stated at the time of drafting is for budget puposes only and due to the current Florida economic conditions amounts could be higher or lower through the course of the year This budget is intended as an operating gu ide and in no way binds the association in the event of a shortfall
VENETO 2020 RESERVES ESTIMATES
Estimated Estimated Life Current Funded Estimated Annual
Expectancy Replacement Amount and To Be Balance to Remaining Amountto Reserve Item Vrs Cost Funded Spent 2019 Fund Life be Funded
Paint Building Exterior 8 $ 70000 $ 43750 $ 26250 3 $ 8750
Seal and Stripe Parking 4 $ 12000 $ 12000 $ 12000 4 $ 3000
Resurface Parking 20 $ 67956 $ 51 592 $ 16364 8 $ 2046
Roof 20 $ 200000 $ 77463 $ 122537 9 $ 13615
HVAC 15 $ 20000 $ 11428 $ 8 572 3 $ 2857
Elevators 25 $ 60000 $ 16665 $ 43335 13 $ 3333
$ 429956 $ 200898 $ 212898 $ 229058 $ 33602
2014 $62845 - fully funded to paint - $13100 paid in 2014 $4887252 paid in 2015 2015 $41369 - Fully funded Seal coat $15000 $8750 Paint $14286 Roof $3333 elevators 2016 $32226 - $8750 paint $3000 seal coat $14286 roof $2857 HVAC $3333 2017 $32226 - $8750 paint $3000 seal coat resurface $47500 $14286 roof $2857 HVAC $3333 2017 $7375 - additional to balance reserves - applied to Roof Amount Funded 2018 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333 2019 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333
- 11-5-19 Budget Meeting Notice
- 2019 Budget Mtg NOTICE and Letter
-
Veneto in Miramar Condominium
November 5 2019
VENETO in Miramar Condominium 18503 Pines Blvd Suite 211 Pembroke Pines FL 33029
REF 2020 Proposed Budget
Dear VENETO Unit Owners
We are pleased to present the proposed 2020 budget which will be adopted by the board at the next meeting of the board of directors Total expenses including reserves will increase by 67 feel free to contact me or the property manager prior to this meeting with any questions
MAINTENANCE AS
You can also view the 2018 Annual Financial Statement available at the associations web portal (wwwVnetInfiom) in the Resource Document section If you have not already done so please be sure to register at the association web portal to remain updated with regard to association news and building alerts
The board is pleased to serve you and welcomes active participation by all unit owners in the coming year
Sandra Rolon President
Cc Angela Messam Treasurer Alex Remos VP amp Secretary
18503 PINES BLVD SUITE 211 PEMBROKE PINES FLORIDA 33029
Phone 9544997320
VENETO in Miramar Condominium Association Inc Estimated 2020 Operating Budget
Revenue 2019 Est 2020 0amp11 Change Maintenance Assessments $ 188147 $ 200726 67 Parking Revenue $ $ Antenae Revenue $ 7500 $ 7500
Total Revenues $ 196647 $ 208226 64
Operating Expenses Accounting $ 2000 $ 1500 -250 Attorney - Legal $ 2000 Annual Report $ 61 $ 61 00 City Miramar Tax (new) $ 895 Bank Fees $ 1300 $ 1300 Postage $ 150 $ 150 00 Website $ $ Insurance $ 25000 $ 25000 00 Property Management Fee $ 31200 $ 31200 00 Janitorial amp Paper products $ 10200 $ 11 500 127 Garbage Disposal $ 9400 $ 11500 22 3 Elevator Maintenance $ 8000 $ 8000 00 HVAC Maintenance $ 3000 $ 2000 -333 Lighting Maintenance $ 2000 $ 1500 -250 Roof Maintenance $ 2500 $ 2500 00 General Repairs amp Maintenance Labor $ 12000 $ 10000 -167 General Repair amp Maintenance Supplies $ 3000 $ 2000 -333 Irrigation Maintenance (Laborllnspection) $ 500 $ 1100 1200 Landscape (maintainllawnreplace) $ 9200 $ 18400 1000 Landscape - MulchlTree Trimming $ 1916 $ 4800 1505 Landscape (Storm Debris Removal) $ 1500 $ 1000 -333 Landscape (Fertilzation) $ 1000 $ 1518 518 TelephonelDSL $ 2800 $ 1000 -64 3 Fire Sprinklers Backflow Certification Testing $ 2500 $ 2500 00 Fire Alarm System amp Elevator Monitoring $ 1500 $ 1500 00 Pressure Cleaning $ 3300 $ 1500 -54 5 Pest Control $ 1200 $ 1200 00 PropertyLandscape Improvements $ 2318 $ 5000 1157 Utilities-Electric $ 19500 $ 18000 -77 Utilities-Water $ 5000 $ 4000 -200 Window washin~ $ $ 2000
Total Estimated Operatlngxpenses $ 162046 $ 174624 18
Reserves Exterior Paint $ 8750 $ 8750 Sealcoat Parking $ 3000 $ 3000 Resurface Parking $ 2046 $ 2046 Roof $ 13615 $ 1361 5 HVAC $ 2857 $ 2857 Elevator $ 3333 $ 3333
Total Estimated Reserves $ 33601 $ 33602 00
Total Est Expenses wIth Reserves $ 196647 $ 208226 64
$ 12579
APPROVED BY DATE
Every effort is taken by the board of directors to ensure responsible operation of the association within budget contraints However the amount stated at the time of drafting is for budget puposes only and due to the current Florida economic conditions amounts could be higher or lower through the course of the year This budget is intended as an operating gu ide and in no way binds the association in the event of a shortfall
VENETO 2020 RESERVES ESTIMATES
Estimated Estimated Life Current Funded Estimated Annual
Expectancy Replacement Amount and To Be Balance to Remaining Amountto Reserve Item Vrs Cost Funded Spent 2019 Fund Life be Funded
Paint Building Exterior 8 $ 70000 $ 43750 $ 26250 3 $ 8750
Seal and Stripe Parking 4 $ 12000 $ 12000 $ 12000 4 $ 3000
Resurface Parking 20 $ 67956 $ 51 592 $ 16364 8 $ 2046
Roof 20 $ 200000 $ 77463 $ 122537 9 $ 13615
HVAC 15 $ 20000 $ 11428 $ 8 572 3 $ 2857
Elevators 25 $ 60000 $ 16665 $ 43335 13 $ 3333
$ 429956 $ 200898 $ 212898 $ 229058 $ 33602
2014 $62845 - fully funded to paint - $13100 paid in 2014 $4887252 paid in 2015 2015 $41369 - Fully funded Seal coat $15000 $8750 Paint $14286 Roof $3333 elevators 2016 $32226 - $8750 paint $3000 seal coat $14286 roof $2857 HVAC $3333 2017 $32226 - $8750 paint $3000 seal coat resurface $47500 $14286 roof $2857 HVAC $3333 2017 $7375 - additional to balance reserves - applied to Roof Amount Funded 2018 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333 2019 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333
- 11-5-19 Budget Meeting Notice
- 2019 Budget Mtg NOTICE and Letter
-
VENETO in Miramar Condominium Association Inc Estimated 2020 Operating Budget
Revenue 2019 Est 2020 0amp11 Change Maintenance Assessments $ 188147 $ 200726 67 Parking Revenue $ $ Antenae Revenue $ 7500 $ 7500
Total Revenues $ 196647 $ 208226 64
Operating Expenses Accounting $ 2000 $ 1500 -250 Attorney - Legal $ 2000 Annual Report $ 61 $ 61 00 City Miramar Tax (new) $ 895 Bank Fees $ 1300 $ 1300 Postage $ 150 $ 150 00 Website $ $ Insurance $ 25000 $ 25000 00 Property Management Fee $ 31200 $ 31200 00 Janitorial amp Paper products $ 10200 $ 11 500 127 Garbage Disposal $ 9400 $ 11500 22 3 Elevator Maintenance $ 8000 $ 8000 00 HVAC Maintenance $ 3000 $ 2000 -333 Lighting Maintenance $ 2000 $ 1500 -250 Roof Maintenance $ 2500 $ 2500 00 General Repairs amp Maintenance Labor $ 12000 $ 10000 -167 General Repair amp Maintenance Supplies $ 3000 $ 2000 -333 Irrigation Maintenance (Laborllnspection) $ 500 $ 1100 1200 Landscape (maintainllawnreplace) $ 9200 $ 18400 1000 Landscape - MulchlTree Trimming $ 1916 $ 4800 1505 Landscape (Storm Debris Removal) $ 1500 $ 1000 -333 Landscape (Fertilzation) $ 1000 $ 1518 518 TelephonelDSL $ 2800 $ 1000 -64 3 Fire Sprinklers Backflow Certification Testing $ 2500 $ 2500 00 Fire Alarm System amp Elevator Monitoring $ 1500 $ 1500 00 Pressure Cleaning $ 3300 $ 1500 -54 5 Pest Control $ 1200 $ 1200 00 PropertyLandscape Improvements $ 2318 $ 5000 1157 Utilities-Electric $ 19500 $ 18000 -77 Utilities-Water $ 5000 $ 4000 -200 Window washin~ $ $ 2000
Total Estimated Operatlngxpenses $ 162046 $ 174624 18
Reserves Exterior Paint $ 8750 $ 8750 Sealcoat Parking $ 3000 $ 3000 Resurface Parking $ 2046 $ 2046 Roof $ 13615 $ 1361 5 HVAC $ 2857 $ 2857 Elevator $ 3333 $ 3333
Total Estimated Reserves $ 33601 $ 33602 00
Total Est Expenses wIth Reserves $ 196647 $ 208226 64
$ 12579
APPROVED BY DATE
Every effort is taken by the board of directors to ensure responsible operation of the association within budget contraints However the amount stated at the time of drafting is for budget puposes only and due to the current Florida economic conditions amounts could be higher or lower through the course of the year This budget is intended as an operating gu ide and in no way binds the association in the event of a shortfall
VENETO 2020 RESERVES ESTIMATES
Estimated Estimated Life Current Funded Estimated Annual
Expectancy Replacement Amount and To Be Balance to Remaining Amountto Reserve Item Vrs Cost Funded Spent 2019 Fund Life be Funded
Paint Building Exterior 8 $ 70000 $ 43750 $ 26250 3 $ 8750
Seal and Stripe Parking 4 $ 12000 $ 12000 $ 12000 4 $ 3000
Resurface Parking 20 $ 67956 $ 51 592 $ 16364 8 $ 2046
Roof 20 $ 200000 $ 77463 $ 122537 9 $ 13615
HVAC 15 $ 20000 $ 11428 $ 8 572 3 $ 2857
Elevators 25 $ 60000 $ 16665 $ 43335 13 $ 3333
$ 429956 $ 200898 $ 212898 $ 229058 $ 33602
2014 $62845 - fully funded to paint - $13100 paid in 2014 $4887252 paid in 2015 2015 $41369 - Fully funded Seal coat $15000 $8750 Paint $14286 Roof $3333 elevators 2016 $32226 - $8750 paint $3000 seal coat $14286 roof $2857 HVAC $3333 2017 $32226 - $8750 paint $3000 seal coat resurface $47500 $14286 roof $2857 HVAC $3333 2017 $7375 - additional to balance reserves - applied to Roof Amount Funded 2018 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333 2019 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333
- 11-5-19 Budget Meeting Notice
- 2019 Budget Mtg NOTICE and Letter
-
VENETO 2020 RESERVES ESTIMATES
Estimated Estimated Life Current Funded Estimated Annual
Expectancy Replacement Amount and To Be Balance to Remaining Amountto Reserve Item Vrs Cost Funded Spent 2019 Fund Life be Funded
Paint Building Exterior 8 $ 70000 $ 43750 $ 26250 3 $ 8750
Seal and Stripe Parking 4 $ 12000 $ 12000 $ 12000 4 $ 3000
Resurface Parking 20 $ 67956 $ 51 592 $ 16364 8 $ 2046
Roof 20 $ 200000 $ 77463 $ 122537 9 $ 13615
HVAC 15 $ 20000 $ 11428 $ 8 572 3 $ 2857
Elevators 25 $ 60000 $ 16665 $ 43335 13 $ 3333
$ 429956 $ 200898 $ 212898 $ 229058 $ 33602
2014 $62845 - fully funded to paint - $13100 paid in 2014 $4887252 paid in 2015 2015 $41369 - Fully funded Seal coat $15000 $8750 Paint $14286 Roof $3333 elevators 2016 $32226 - $8750 paint $3000 seal coat $14286 roof $2857 HVAC $3333 2017 $32226 - $8750 paint $3000 seal coat resurface $47500 $14286 roof $2857 HVAC $3333 2017 $7375 - additional to balance reserves - applied to Roof Amount Funded 2018 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333 2019 $33601 - $8750 paint $3000 seal coat $2046 resurface $13615 roof $2857 HVAC $3333
- 11-5-19 Budget Meeting Notice
- 2019 Budget Mtg NOTICE and Letter
-