BOARD OF GOVERNORS MEETING

MINUTES

Thursday, October 25, 2001

Tournament Players Club

President Larry Molina called the meeting to order at 6:55 p.m.  Those also present for quorum being, Jerry Bloch, Ira Josephson, Larry Molina, Ruth Landler.

 Absent: Mickey Berk, Hal Menchel

Management: Lou Brawer

Mr. Molina opened the meeting by stating that this meeting is a workshop for the Board to prepare a proposed budget, which will be presented and voted on at the November 15, 2001 regular Board meeting.

 Before the actual budget work started the floor was turned over to Mrs. Lustig, a resident of The Hamptons, who voiced concern about the condition of the East Gate. Mr. Molina stated that this would be considered when Reserve fund projects are discussed.

 Lou Brawer then presented Management’s Proposed Operating Budget for 2002 and went over it line by line (see attached).  He closed his presentation by thanking Mr. Josephson and Mr. Aumonte for all their help with the preparation.

The Board then had a discussion of tree trimming and if this should be included in the Operating Budget. It was decided that since this is not a recurring expense that when necessary the funds should be taken from Reserves.

The Board then discussed possible Reserve projects including: gate access equipment, fixing up of the East and West gatehouses. These items will not be decided on at this time and when ready Board members will be asked to present their requests in more detail.

Mr. Brawer was instructed to send out the Proposed changes to the Board members that were not present and to have them contact Mr. Molina or Mr. Josephson with any comments. Mr. Brawer was also instructed to send the Proposed Budget to Integrity Property Management and Maximum Management so that the neighborhood Associations can start to work on their budgets.

The meeting was adjourned at 8:00pm

Respectfully submitted,

Louis Brawer

Property Manager