Camelot

Minutes of the Board Meeting of the
Camelot Residences Association Inc.
On November 1, 2021, at the On-Site Office

Call to Order:
The meeting was called to order by President Jordan Zueger at 6:00p.m.

Establishment of Quorum:
Board members present were: Jordan Zueger-President, Don Drake-Secretary, Kim Lucks-Treasurer and Directors Marlene Blankenship and Jeff Lindle. Jason Andersen-Vice Pres and Director Tim Day was not able to attend. Kathy Watts represented Dragon Property Management.

Approval of Minutes from September 27, 2021 Board Meeting:
Marlene Blankenship made a motion to approve the September 27, 2021 Board Meeting minutes. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Treasurers Report: Manager Kathy Watts reported that all bills are paid and the Reserves are being funded on time. Owners that are past due have received statements and 30 Day Demand notices then will be sent to the attorney for collection.

Old Business:

New Business:
Board approval of 2022 Budget:
Kathy stated that Florida Statute requires the Board to prepare a budget that includes 100% funding of reserves. Kim Lucks motioned to approve the 2022 Proposed Budget with 100% reserve funding and a monthly assessment of $239.50 per unit per month. Don Drake seconded the motion and it passed by unanimous voice vote.

Discussion and results of owner vote to waive full reserve funding in 2022:
Kathy stated that Florida Statute also allows, if the Board chooses, to present a budget with less than 100% of reserve funding to the owners and to allow the owners to vote on their preference. This year’s Board has presented to the owners a choice of either 100% reserve funding at $239.50 per unit per month or a budget with less than 100% of reserve funding at no more than $212.50 per unit per month. Management reported that a majority of owners (102) was needed in order to partially fund the Reserves. Fifty-two (52) owners responded and thirty-eight (38) owners voted in favor of a 2022 budget with less than 100% of reserve funding. Fourteen (14) owners voted to fully fund Reserves at $239.50. The total needed to partially fund Reserves was not met.

Kim Lucks made a motion to accept the 2022 Proposed Budget presented by Dragon Property Management with a fully funded Reserve and requested the amount be rounded to $240.00 per month per unit. Jordan Zueger seconded the motion and it passed by unanimous voice vote.

Approve 2022 Budget: Monthly assessments will be increased to $240.00 per month for the Association fee. Those that use BillPay are requested to update their auto pay for January 1, 2022. New coupon booklets should be out sometime in December.

Current Projects:

Announcements:
Unit 3143 will be sold at auction on December 8, 2021 at 11:00am at the Clerk of Court in Titusville.

Next Board Meeting:
-The next meeting is scheduled for Monday, January 11, 2022 at 6:00pm in the on-site office.
-The annual meeting is scheduled for Monday, February 7, 2022 at 6:00pm at the Titusville, Library. First notices will be mailed by December 7, 2021.

Adjournment:
With no further business to discuss, Don Drake made a motion to adjourn the meeting at 6:45p.m. Marlene Blankenship seconded the motion and it passed by unanimous voice vote.

Respectfully submitted,

Kathy Watts
Kathy Watts, CMCA, LCAM
Dragon Property Management
Board of Directors, Camelot Residences Association, Inc.