Balmoral November Newsletter

November 24, 2014  |  By  | 

by many residents of the Building and their families. This is also a very attractive amenity to pro- spective buyers. Our Balmoral is very lucky to have talented, experienced and ac- complished unit owners who are willing to volunteer their time and expertise. Unit owner Eleonora Minkovsky worked tirelessly as the Chair of the Decorating Commit- tee. The decorating committee, with the help of an interior design- er, will create a plan to beautify our building. Commencement of work is pending approval of a new bud - get and will commence as soon as funds are allocated. In addition, Eleonora conducted an audit of the Building’s largest budgetary obligation-- insurance coverage. Her professional work experience in the insurance in - dustry helped as she was able to signicantly improve the lev - el of insurance coverage for our Building, drastically decrease the Balmoral’s exposure without add- ing additional Premium. Eleonora was able to reduce our deductible from $25,000 per claim down to $0.00 at no additional cost. She also eectively implemented new medical coverage for Bal - moral employees with no loss of benets which resulted in saving of over $60,000. These signicant savings pro - vided the building with the op- portunity to plan for some im- provements without the need for an assessment or an incr ease in maintenance. It is very rare to have a Treasur - er like Michael Spiegel, who is so passionate about the nancial stability of the building. Support- ed by our President, Peter Ressler, Michael works tirelessly on our behalf. Thanks to him and with the approval of the President, the Association was able to close an almost $500,000.00 decit in our budget, without a need for increasing our maintenance fees or incurring an assessment. He’s working now, together with our Accountant, Vishnu Sharma, and the Chair of the Budget and Finance Committee, Howard Weiss, on nalizing the budget for the next year. The new bud - get will be brought for approval to the Board at the next meeting. Our Information Technology (IT) committee, chaired by our VP Dr. Allan Krieger, has been working on numerous projects. The As- sociation has signed a contract with Windstream High Speed Communications and is current- ly installing wireless communi- cation equipment building wide in or der to provide unit owners with WiFi Internet service in their apartments at no additional cost. The Committee, with the assis- tance of the General Manager, has scheduled a thorough build- ing wide survey to determine that you ar e receiving the basic Atlantic Broadband TV service that is part of the monthly main- tenance. Glanz Technology, one of our IT contractors, is testing our re and security key pad system and will be making repairs to those units that are not online. The existing Lobby and third oor cork information boards are being replaced with a Video Monitor Signage system. The microphone system in the Board Room is being replaced with a wired system to eliminate the poor sound quality and feedback experi - enced during Board meetings. Please check with Henry to obtain the channel number for viewing our two in-house chan- nels. They vary by the level of Atlantic Broadband service re- ceived by units. Yours truly, Irena Shteyn, has undertaken a number of proj- ects. I inspect the physical appearance of the building on a regular basis and discuss the problems, if any, with the Supervisor of the maintenance company. I also respond to unit owner’s complaints by reporting them to the Operation Manager and try to nd resolutions. I’m currently working with the Chair of the Decorating committee on obtaining bids for decorating the lobby to make sure that it is tasteful for the Holiday season. Thank you to our Board Direc - tors VP Elaine S. Blank and Bo- ris Zak for their valuable input during this year .

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