Monday, January 30, 2012

Westmoreland financial study approved

Westmoreland Terrace Condominiums recently commissioned a study of its financial position in relation to its long-term capital investment needs.  This Reserve Study indicates that Westmoreland's current reserves and projected condo fees are appropriate for its projected capital needs.  At today's Condo Board meeting, the Board formally adopted the study.  Interested owners can obtain a copy of the study from the condo manager's office.

Other items from the Condo Board meeting:
  • The Board approved a $7800 payment for the Reserve Study.
  • A well-informed resident told the meeting about a useful Arlington Prepares App.  The app provides contact information and instructions useful for a wide variety of emergencies.
  • Snow removal expenses thus far are only $1200-$1300, well below the $6000 budgeted for the year and far below the $20,000 spent in 2009-10.
  • Phil Bogert has returned to Westmoreland as the onsite property manager.  His hours are about 8:15 to 4:15 Monday, Wednesday, and Friday, and his telelephone number, 703 276-1833.
  • Phil Bogert has promised to organize some condo get-togethers / socials starting early this coming spring.  These will be opportunities to get to know more of the fine people who live in Westmoreland.
Condo Board members Jose Calvo,  Michelle Clifton, Jennifer Feinleib, Joe Ruland, and Emil Tabakov; residents Andrea, Douglas, Gretchen, and Joy; and Property Manager Dennis Freeman attended the meeting.  The next regularly scheduled condo board meeting is Feb. 28 at 7pm in the condo office.

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