PR OPERTY MANAGEMENT TRANSITION REPORT DA TE MA RCH 12th, 2021 DISTRIBUTED T O BO ARD OF DIRECTORS Jennifer Stevens President Norman S. Drubner Treasurer Omaida Rua Secretary VIA EMAIL DATED MARCH 15TH, 2021 PRESENTED BY : Thalita Arias, LCAM CMCA Page 1 of 7
FINANCIAL RELATED MATTERS 01.Held two (2) meetings with CPA and auditing firm, Charles KrBlick P.A., in specific, Marilyn Campbell, who expressed her concerns about the pending completion of the 2019 Financial Report. The below listed discussion ‘inquiries’ are the same ones submitted by Mrs. Campbell to Mr. Winkle in 2020 in order to conduct the and oblige with the statutory financial reporting requirement. Because answers were not provided to CPA Firm 2019 and consequently 2020 have not been finalized or filed with the state. Please review points listed by CPA firm and our notes, if any. NOTE: We are hopeful that once we receive ALL of the Association’s files from AKAM we will be able to answer most, if not all, of these questions and/or concerns from the CPA Auditor. UPDATE: As of 3/14/21 AKAM has failed to provide most of the Association documents as requested by us, Prime Qi — in such cases it is standard to engage the General Council to defend the Association’s legal rights and ensure its ‘fair due process’. A. CPA: Deposit documentation for the following transactions: Unit 19237 dated 2/7/2020 $9,004.01 and Unit 19153 dated 10/22/2019 $5,004.43. B. CPA: The agreement with Oceanside for parking spaces provided is for 2020-21, please provide the agreement in effect for 2019-20. UPDATE: As of 3/14/21 we have yet to find any agreement on file at the office. Furthermore, the few files submitted by AKAM did not include these agreements either. C. CPA: A ll reserve assessments are posted to ‘pooled’ reserves, however, the budget allocates the assessments to the components. If the Board has elected to move to pooled reserves, please provide a copy of the minutes where this was approved. UPDATE: As of 3/14/21 we have not been able to identify or locate any minutes that confirm the above statement. B OARD: Please advise if this was in fact a decision made by the Board of Directors. Page 2 of 7
D. CPA: Legal Complaint filed against Association relating to the unpaid shared pool repair expenses. CPA firm has received partial records from AKAM and no information relating to this matter was included. UPDATE: There are no updates to report at this time regarding this item. E. CPA: M iami-Dade fire citation for deficiencies in the fire safety system. Partial records were received from AKAM and no information related to this matter was included. UPDATE: There are no updates to report at this time regarding this item, however, Management will inquire with Fire Marshalls regarding the same on Monday, March 15th. F. CPA: T here is a transfer between reserve components transferring funds from the common area to A/C tower and Mechanical/Electrical. Please provide the documentation for this transfer and the appropriate approvals. UPDATE: As of 3/14/21 no reference to the above is mentioned in the Minute Book. BOARD: Please advise if this was an approved decision made by the Board of Directors. G. CPA: It looks like a golf cart was purchased during the year, per the notes to the financial statements the Association’s policy is to capitalize tangible personal property. Please confirm. UPDATE: B oard, Please advise if this was an approved decision made by the Board of Directors. H. CPA: We have received a response from one of the Association’s attorneys (Martin & Martin) that listed three matters that I would like to discuss the status of to determine if they require either adjustment to the financial statements or disclosure in the notes. a. Claim from ThyssenKrupp for final payment on elevator project. Update Regarding Elevator: On March 10th Management and Mr. Lenin Santos met with Defense’s Inspector, Kevin Yombor, to physically inspect all four (4) elevators. * O ther elevator updates and/or Information are listed in the Legal section. Page 3 of 7
AS SOCIATION OPERATIONS | MA TTERS ME ETINGS & IMPORTANT DATES: I. The Board of Directors held a duly noticed meeting on March 4th, 2021. Minutes have been drafted to be presented at the next Board meeting. II. The First Notice of the Annual Meeting and Election of the Board of Directors was mailed out in accordance with statutory requirements. Affidavit of Mailing has been filed in the Association’s record and will be uploaded to the website. UPDATE: Annual Meeting has been scheduled for May 4th, 2021 at 10:00am at the location of 19200 Fisher Island Drive; the meeting will also be streamed live for Seaside Membership virtual viewing pleasure. PE NDING BOARD ACTION ITEMS: 02.Temporary checks have been provided by Bank United; however, Capital One Bank access is not yet confirmed. Board assistance might be needed. CO RRESPONDENCE 03.Eblast communication: A. Welcome Introduction Communication from Prime Qi was emailed on the week of March 8th. B. First Notice of Annual Meeting and Election for Board of Directors was mailed on March 2nd. Emailed version was sent to Owners on March 10th. UNIT SALES 04. The sale of Unit No. 19151 was unanimously a pproved by the Board of Directors. ➢ Board’s decision will be ratified at the next board meeting. - P ENDING RATIFICATION. 05. The sale of Unit No. 19123 was unanimously a pproved by the Board of Directors. ➢ Board’s decision will be ratified at the next board meeting. - P ENDING RATIFICATION. 06. Approval of Sale of Unit No. 19227 is being requested from the Board of Directors. Package will be emailed to the Board of Directors. - P ENDING APPROVAL FROM BOD. Page 4 of 7
UNIT LEASES 07. The Lease of Unit No. 19143 for a total of 30 days, was unanimously approved by the Board of Directors. 08. The Lease of Unit No. 19251 for a total of 90 days, was unanimously approved by the Board of Directors. AR CHITECTURAL MODIFICATIONS | APPROVAL & UPDATES None at this time. INCIDENTS & COMMUNITY MATTERS None at this time. LE GAL 1. Engagement agreement sent to Mr. Michael Bender to retain his services relating to General Council representation. Teleconference held to go over issues which might and can become potentially problematic for the Association. 2. Slip & fall incident assigned to the association insurance carrier. An update is promised to be delivered to the board within the next couple of weeks. 3. ThyssenKrupp demand for payment matter remains unresolved; updates are as follows: a. Held telephone conference call with Mike Loeffler from VDS Elevators to discuss details of the completion of the modernization and report. 4. Contacted ThyssenKrupp Elevators and spoke with Island Representative, Gianni Achoy, she is scheduled to be onsite to meet with Management on Monday, March 15th, 2021. While onsite Vendor will perform the regular maintenance on all four (4) elevators and adjustments to some of the current issues. 5. Met onsite the Insurance Defense counsel, Mr. Kevin Yombor. Due to the inflated amount owed to ThyssenKrupp, the inquiry was made regarding a payment plan with the Vendor in the event the Association DOES NOT hold a special assessment. Page 5 of 7
6. ThyssenKrupp will provide Association access to their service portal which gives accessibility for Association to view reports, make services calls, and other features not yet reviewed by Prime Qi. 7. Held telephone conference call with Bob Martin regarding ThyssenKrupp Elevators Complaint and demand for payment. No update or new information was offered at this time from Council. 8. Association’s legal team, to include the insurance representatives, affirms that in the event AKAM, and representatives, felt strongly about withhold payments to Vendor due to the continuous malfunctions, a detailed report of breakdowns should exist and provided to Vendor. UPDATE: As of 3/15/21 there is absolutely nothing in relation to the legal Complaint, elevator modernization and/or communications relating to the same. Management Thoughts: Re-engagement of Mr. Loeffler’s professional services is encouraged in order to re-inspect, re-analyze, and restructure the plan to finalization once and for all the modernization’s contractual scope of work. FACILITIES MANAGEMENT AC COUNTS RECEIVABLES FICA contacted the Association to advise us of the outstanding unpaid balance, invoices included are from December, January and February. Outstanding amount is in excess of $22,000.00 as of February 28th, 2021. This amount does not include any of the landscaping extras and beautification which are also pending payment. WORK ORDERS Miami-Dade Fire/Life Safety Violation assessed to the Association, which Management just became purview to on 3/12/21 by sheer coincidence. On 3/15/21 Management was able to find out further Page 6 of 7
information on who and how to locate the assigned Fire Marshal Inspector. Emailed sent to Inspector Anthony Perez and is pending a response. ➢ Additionally, the 2019 and 2020 Fire Safety Annual Inspections have not been completed and also in current violation. Received a price from OMBS to perform services but waiting on Metro Dade’s estimate so we may present to the Board for a decision. PR EVENTIVE MAINTENANCE & SUMMARY Strong Services assessed the cooling towers' deteriorated condition. It was confirmed that neither cooling towers preventive maintenance nor appropriate water treatment has been done in over 3 years with Maintenance Supervisor Lenin Santos. Management will be obtaining bids for the service and present to the board for approval. Please see the report HERE. CA PITAL IMPROVEMENTS Preliminary Action Plan of all pending and future projects will be presented by Friday, March, 19th, 2021. Thank you for your time. Prime Qi Team! Page 7 of 7
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