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Wilfredo Lopez, (CAM)Community Association Manager, joined theVenetian staff as PropertyManager in August, 2006.In this edition he discussesthe 2010 budget process and the finances of theAssociation:

As I write this column, the2010 proposed budget isbeing distributed to allowners. I am very pleasedthat for the third year in a row, we have been able tohold the line, and yourmonthly maintenance feesremain unchanged.

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What’s Inside?

Venetian Manager Discusses

Our Budget and Finances 1

Special Owners’ Meeting 2

Calendar of Events 2

Parking Waiting List 2

Message from President 3

Special Thanks to . . . 3

Delinquent Accounts 4

Venetian Committees 4

Dockage Waiting List 4

Work Order System 4

Venetian Manager: Budget and Finances

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This budget is the result of Wilfredo Lopez, Venetian Manager cooperation between my office and the Association’s committees. The Finance Committee and its chairperson,Ed McArdle, asked if an increase in monthly maintenance could be avoided without endangering the Board’s ongoing commitment to maintaining our property and facilities and upgrading where needed and feasible. I reviewed our actual and projected expenditures for 2009, projected operating costs for 2010, and anticipated capital needs for 2010 and beyond. I advised the Finance Committee that I thought it could be done. Thereafter, Committee chairpersons were asked to review their funding requests for 2010 and I reviewed all of them. Under the watchful eye of the Finance Committee, I was pleased to be able to submit a balanced budget for 2010 which did not increase monthly maintenance. Following some revisions by the Finance Committee, that budget has now been presented to you for review and will be considered and voted upon by the Board of Governors on November 23rd at 6:30 pm in the Venetian Room. You are urged to attend if possible.I wish to thank all Committee Chairpersons and Committee volunteers for their help and guidance. I also wish to thank our board of Governors for its support. The Board has made it clear that their priority remains restoring the Venetian to its place as one of the great facilities in FortLauderdale, and that to do so they will provide the funds needed for quality restoration and modernization of our infrastructure as well as the money to maintain and improve the many amenities that make this a special place. Accomplishing these goals while keeping a tight rein on spending is a challenge that can only be met by a cooperative effort between Board, Committees, Owners, and Manager.

Work Order System 4

Classified Advertisements 5

Important NumbersVenetian Main Office 954-463-0071

Venetian Guard House 954-463-8666

Beach Conditions 954-828-4597

Police Non-Emergency 954-828-5700

Homestead Exemption 954-357-6830

Fire / Rescue 954-828-6400

City Manager’s Office 954-828-5013

Permits and Inspections 954-828-5191

Income and Expenses Operating Account

Year-to-Date thru Sept 2009

Revenues $ 1,748,002

Expenses 1,596,832

Net Profit $ 151,170

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Special Owners’ Meeting – Held October 20, 2009

A Special Owners’ Meeting was held on October 20, 2009 at 7 p.m. in the Venetian Room. Unfortunately, there were not enough votes cast to pass any of the three proposals. The quorum represented at the meeting voted unanimously to recess the meeting until 10 am on January 11, 2010 in order to allow all owners to cast their ballot in hopes that all three of the proposals could be passed.

The purpose of this special meeting was to address 3 specific changes to our Condominium documents recommended by the Association’s attorney. The Board of Governors has undertaken a massive project to make much-needed updates to our condominium documents – Articles of Incorporation, Bylaws, and Declaration. This will ensure that they are in compliance with Florida statutes and are fully enforceable.

The results of owner voting on the three items submitted on October 20 were:YES NO

1. Eliminate out-dated provisions for an Insurance Trustee 133 3We have paid over $22,000 since Florida changed the statutes eliminating this requirement. This change saves our Association almost $1,000 per year;

2. Establish late fees for delinquent accounts as allowed 127 10by Florida statutes;

3. Change voting provisions so “majority rules” on any 94 43owner votes on any future Condominium Document changes; The requirement would be that 50% plus 1 of the Board and the owners would need to approve any future changes to our documents;

If you have not submitted your proxy, please do so as soon as possible. The Board of Governors voted unanimously to support the passage of these 3 proposals.

Calendar of Events!

November 23 Board Meeting – 7 pm

December 16 Staff Holiday Party

December 21 Board Meeting – 7 pm

January 25 Board Meeting – 7 pm

February 9 Annual Owners’ MeetingEvery Mon, Wed, and Fri at 8 amFree Water Aerobics Class in the Pool

Secondary Parking Space Waiting List

As of November 1, all requests for secondary parking

spaces have been honored . There is no one on the

waiting list. Renewals for 2010 will be sent out by

the office in December.

Please contact the office if you have an interest in

renting a secondary parking space.


Message from the PresidentBy Larry Burnette

Another year-end approaches and a copy of the “Annual Report to Owners” will be mailed to you soon. Your Board and Committees have worked tirelessly on your behalf during the year to ensure that our:- Association stays financially sound,- Facilities are well maintained and updated, and - Staff are efficient and effective in meeting our needs and fair and consistent in enforcing our rules and regs;

Of particular note during 2009:- We extended our Manager’s contract through 2011. Wilfredo has utilized his extensive experience to perform in an EXCELLENT manner for our community; We are fortunate to have Will as our Manager;

- The Manager met guidance from the Finance Committee and developed a balanced 2010 budget with noincrease in maintenance fees for 2010;

- The Manager completed the 2008 Special Assessment Projects well within our budget; He was able to dothe projects in a way that the Board of Governors no longer anticipates another special assessment;

- The Board hired a new accountant and CPA at reduced costs. Working with the Treasurer and Finance Committee our monthly financial reporting package has been restructured to assist the Board in projectingfuture needs; Copies of these are available to owners at the office;

- We have diligently pursued delinquent accounts trying to work with owners where possible on paymentterms; We have not referred any new accounts to our collections attorney in 18 months. We are downto 5 seriously delinquent accounts and provisions for these have been anticipated in our financials.

- The Manager is working closely with the Maintenance Committee to prioritize large future expenditures with our projected reserve balances so we can try to schedule needed maintenance when we have reserve

with our projected reserve balances so we can try to schedule needed maintenance when we have reservefunds to pay for them;

A BIG THANK YOU to all of the Governors and Committee Chairsfor their service to our Association.

An Important Reminder: Please help us recognize the good work of our Venetian staff with your voluntary contribution to the “Venetian Employees’ Holiday Fund.” A $60 contribution per unit is recommended.

SPECIAL THANKS TO: Dan Killian, Per Weisletten, George The entire Dock Committee,

Thorne, and Ken Sadar for the Joel and Judy Brazemannew floor in the Workshop. Contact for a GREAT Boat Show

Phil Cordell for funding the the Office if you want to become a Party! A GREAT EVENT!new art for the lower lobby. member of the Workshop.


Delinquent Accounts UpdateTHANK YOU to all owners who keep their accounts current and pay on time. As a reminder, all monthly maintenance payments are due on the 1st of each month. They are considered late on the 10th of the month and interest is charged at the rate allowable by Florida statutes.

The Venetian offers “automatic debit” services to owners for payment of their monthly maintenance. Each month roughly 10 owners are charged interest when their payments are not received by the 10th of the month. The interest could be avoided by signing up for automatic debit. Contact the office for an authorization form.

The Board understands the concerns that owners have about the status of delinquent accounts at the Venetian. We are very fortunate that our situation has not worsened during the economic slowdown. No units have gone into collections status since mid 2008.

In order to keep owners updated on this situation, below is a recap of our current status of the 10 units that are delinquent:

Foreclosed by Venetian - 7/2009 1 ***On Payment Plan through 4/2010 1Waiting for “Final Judgment” Order 3“Default Judgment” Being Filed 2Paid in Full in October 1

Dockage Space Waiting ListEffective 11/1, the waiting list for dockage:

Boat Length

1. Sugamele 50’

2. Filipovich – 809 TBD

3. Fidlow – 902 TBD

4. Barron – 709 TBD

5. Berry – 413 TBD

6. Ward – 1201 58’

7. McArdle – 301 TBD

8. Deavours – 916 TBD

9. Crohn – 701 TBD

10. Kietzer – 109 TBD

11. Allen – 603 TBD

12. Bifini – 213 40’

13. Battaglia – 611 TBD

14. Parrillo – PH1 35’

15. Andrews – PH4 TBD

Relocation List:

1. Newton – PH3

2. Sugamele - 312

3. Gordon - 1215

4. Burns - 217

Paid in Full in October 1Foreclosed by Banks in October 1Awaiting Bank Foreclosure 1*** The Board is working with first mortgage holder on resolution.

4. Burns - 217

2009–2010 Venetian Board of GovernorsPosition Term Expires Feb:

Larry Burnette (1501) President 2010

Joel Brazeman (1502) Vice-President 2011

Shirley Smith (901) Secretary 2010

John Burns (217) Treasurer 2011

Phil Cordell (1512) Governor 2010

Jim Downing (1514) Governor 2011

Rosie Kurlander (1414) Governor 2011

Ed McArdle (301) Governor 2011

Jim Talik (105) Governor 2011

Committees:Docks Joel Brazeman Maintenance Quentin Reynolds

Finance Ed McArdle Office Admin Shirley Smith

Gov’t Affairs Shirley Smith Pool Rosie Kurlander

House Rosie Kurlander Rules & Regs Board

Interview Phoebe Satlin Security Jim Downing

Grounds Rosie Kurlander Social Judy Brazeman

Library Phoebe Satlin Workshop Dan Kilian

Work Order System

Did you know that working with the House

Committee, the Manager implemented a

“Work Order System” for the Venetian?

If you see something that needs to be fixed

or needs attention, you can get a “Work

Order” form from the Front Desk and fill it

out. Alternatively, you can call the Front

Desk and request that they fill one out.

The Manager and House Committee, led

by Rosie Kurlander, have been

effectively using this process to follow-up

on items needing attention and to hold

the Venetian staff accountable to complete

items reported.


CLASSIFIED ADS

UPHOLSTERY SERVICESI am proud to have been selected to do the upholstery work for the furniture in the Venetian Lobby and Library. Please call me for a competitive quote for all of your upholstery needs:

Marvin - The Upholstery Shop - 954-829-7079

Editors Note

Communications with all owners, whether resident or non-resident, is a key element to having a well run facility. The purpose of “The Venetian View” is to keep owners informed of activities, projects, and other financial or operational items of interest at The Venetian, and also to provide a vehicle for owners to communicate with other owners where appropriate. You are urged to submit articles that are of general interest to the Venetian Office for publication consideration in “The Venetian View”. Comments and feedback on content are always welcome.

Larry Burnette – 1501 – Editor, “The Venetian View”

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