Dear Owners/residents, Please see the attached notice. Meeting to be held on April 26th, 2016.
Attention: All Star of Downtown Owners
Regarding: Special Meeting *Budget Forum * Finance Committee Launch
The Board of TSCC2003 would like to invite all interested owners of TSCC2003 to attend a mid-term Special Meeting to discuss the recently released budget and to formally announce the formation of a Finance Committee, which the Board envisions will be able to advise and steer the Board into the future, as we leave the uncertainty of the newly-built years, during which we experienced growing pains that were beyond our control, and into the future when the legacy issues from construction can finally be laid to rest.
Tuesday, April 26, 2016, 7-8 pm in the party room, P1 level.
Over the coming years we will see our insurance premium substantially drop, the return of some $50,000 in insurance deductible monies paid out for water incidents as far back as 2012 and 2013, which are held in legal limbo pending the outcome of a few complicated lawsuits. We have made adjustments to the Reserve Fund Study that will ‘right-size’ it to fairly represent what is ahead, while meeting our large capital commitments.
Please come to this Special Mid-Term Meeting. Meet your Board. Have your questions about the budget answered by the people who also have to live with the results, just like you all do. Management can deliver a dispassionate, black & white accountant-like budget, but it is your elected Board who must turn those cold numbers into something meaningful for everyone who lives at 225 Wellesley Street East and calls it ‘home.’ Then join the finance committee so you can be involved in this year’s budget process.