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Budget Workshop October 18, 2023

Proposed 2024 Budget: The Masters Board of Directors and Frankly Coastal met on October 18^h,2023 to continue the review of the proposed budget for 2024.   Frank Parish of Frankly Coastal provided an update on the quotes he has received from several suppliers and has incorporated them into the proposed budget.  Frank provided and reviewed budget models that incorporated inflation rates of 2%, 3% and 4% for the reserve accounts.  Discussion was also held about adding a contingency fund to the budget.  The Board agreed that the budget should include a 3% inflation rate for the reserve accounts and a contingency fund.  The proposed budget incorporating these changes will be presented to the members in advance of the November 16^th, 2023 Board and Budget Adoption Meeting.  Frankly Coastal will communicate the proposed budget to the members in advance of the meeting and in accordance with Florida statute.

Electronic Voting:  Along with the communication to the members of the proposed budget, Frankly Coastal will also be requesting each household to consent to electronic voting. This consent must be in writing and instructions on how to do so will be included.  Electronic voting is more efficient and cost effective for our community.

Banking Institution: The Masters currently uses two different banking institutions for our Operating & Reserve Accounts.  It was recommended that we consider consolidating these accounts with Truist Bank.  Truist offers more payment options, has more automated functions, requires less manual intervention and is more cost effective.  The Board agreed to add this to the agenda for the November 16^th meeting.

Estero HS Golf Team Fund Drive:  Marcy Holtz attended the meeting and asked how the Masters could better support this worthy effort.  A recommendation was made to ask for donations at the Masters Welcome Back event being held on Sunday October 29^th.  Marcy will have the Masters Sponsorship sign and a place where donations can be made at the event that day.

Respectfully Submitted,

Lynelle Moscaritolo
Board Secretary

The Masters Board of Directors will be holding a second Budget Workshop on October 18, 2023.  Specifics on this meeting are as follows:

DATE:           October 18, 2023
TIME:           10:00 AM
LOCATION:   Palm Room at the Golf Club (off the Pelican Pub)
email: info@masters33928.us
for Remote Access/ZOOM Instructions

AGENDA

1. Call to Order
2. Determination of a Quorum
3. Proof of Notice
4. Old Business
   1. Continued review of proposed 2024 budget
5. New Business
6. Adjournment

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Budget Workshop October 9, 2023

The Masters Board of Directors and Frankly Coastal met on October 9^th,2023 to review the proposed budget for 2024.  Frankly Coastal proposed several revisions to the format of the budget that would help simplify and clarify the line items.  Detailed discussion/review was conducted on the Reserves, Earned Income and the Operating Expenses.  Frank Parish of Frankly Coastal noted that he was still waiting on several quotes from our suppliers and would be following up to obtain them.  Frank suggested that the Board consider including the impact of inflation on our projected long term reserve estimates and offered to develop several models reflecting a range of inflation from 2 to 4%.  Frank also suggested that the Board give some consideration to investing current reserve balances in CD’s that could offer greater interest rates.  The Board agreed to think about both concepts.  A follow-up Budget Review Meeting will be held on Wednesday, October 18^th at 10am.  Details on the logistics for the upcoming meeting will be provided prior to the meeting.

Respectfully Submitted,

Lynelle Moscaritolo
Board Secretary

Christine Mantilia spotted a hawk with a damaged left wing in our neighborhood. The emergency service said they need to know the location of the injured bird to make a rescue. Unfortunately, its location is now unknown.

If you see the bird, please call Christine Mantilia with information about its current location: 239-896-4505

The Masters Board of Directors will hold a Budget Workshop Meeting on October 9, 2023, at 3:00 in person at the Sound Room at the River Club, and virtually. Zoom instructions will be mailed to each resident on or before October 1, 2023.

Agenda:

1. Call to Order
2. Determination of a Quorum
3. Proof of Notice
4. New Business
   • Review of proposed 2024 budget
5. Adjournment

We were all notified by Pelican Sound at the end of August of the Hurricane Ian Loss Assessment of $1,446.04 which may be a covered loss in your homeowners insurance policy.

Additionally, please remember that last January The Masters Home Owners Association billed all Masters residents a separate assessment for Ian totaling an additional $408.20. Thus depending on the terms of your homeowners policy, you MAY be able to file a claim for the combined total of both assessments. As we notified you last January, some policies allow you to submit only one claim, so if that is the case for you, you now have both assessments to complete the filing of your claim. Please consult your policy or agent for the factors that pertain to your situation. To make the claim for the Masters Assessment you may need one or both of the following two documents in addition to the documents that the Club provided for the PS assessment.

JEANNINE OSTROGNAI VILAMAA, 75, of Fort Wayne, Indiana passed peacefully at her residence with family by her side on August 26, 2023.

She was born to the late Lester and Violet Smith, and raised with her brother and three sisters in Ligonier, Indiana. 

Jeannie will be forever cherished by her loving husband and best friend Kari; son Ty (Luz Piedad) Ostrognai; stepsons Kris (Michelle) Vilamaa and Nik (Lucy) Vilamaa; grandchildren Dylan Ostrognai, Dawson Vilamaa, Dalaney Vilamaa, Daylor Vilamaa, Dauren Vilamaa, Kalle Vilamaa, Jaclyn Brown, Clayton Beachy, Collin (Kaitlyn) McInnish, Caitlin McInnish; and great grandson Carter McInnish.  She is survived by her dear sister Kathy (Don) Holsinger and was preceded in death by parents Lester and Violet Smith, brother Patrick McDonald, sister Charlene Birch and sister Ardith Keister. 

Jeannie had a true passion for experiencing the world. She traveled to five continents, visited 40 countries while spending countless hours in over 100 different airports.  Reading and lifelong learning were always important to Jeannie.  After retirement from a successful career at GTE, she earned a bachelor of science academic honors diploma from Indiana University.  Jeannie volunteered for the Northeastern Indiana CASA program where she proudly and zealously advocated for the children under her watch. 

She brought a warm smile to the faces of the many people who were very special to her. Many afternoons and evenings were enjoyed watching IU basketball or attending children’s and later grandchildren’s sports and activities. Summers were spent at Syracuse Lake and winters in Estero, Florida having fun times entertaining family and friends. Lots of cards, Aggrevation (the game), and Sequence were played. She thoroughly enjoyed the many special occasions and celebrations. Reading, music, and dancing brought great pleasure to Jeannie throughout her life.  Jeannie will be missed by all of her cherished family and special friends.

Visitation will be from 4 to 7 p.m., Tuesday, September 5th, and from 10 to 11 a.m. Wednesday, September 6th at Greenlawn Funeral Home at 6750 Covington Road. Funeral service and celebration of life will be at 11 a.m. on Wednesday, September 6th, immediately following the morning visitation. 

In lieu of flowers, the family’s preferred memorials are Northeastern Indiana CASA Albion,Indiana, Easter Seals Arc of Northeast Indiana and Catholic Charities of Fort Wayne, Indiana.

Condolences and memories of Jeannie may be left online at www.greenlawnmpfh.com

You are invited to share an evening of remembrance for a friend, and neighbor. LAWRENCE T. “RUSTY” DEMEULES.

Come Saturday, October 21 at 5:00PM for drinks and buffet at
the Pelican Sound Club Vista Room.

RSVP 239-908-7663 or mbd46@comcast.net

Mary Demeules

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Photos by Anina Bachrach

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Here is the information that was sent all residents.

Time for a Master’s Cocktail And Dinner Event
Wednesday July 19^th
Cocktails at 4:30 – Dinner at 6:00

Summer is FLYING by. Soon our seasonal friends will return, and the lazy, hazy days of summer will have passed. So before it gets too far along, we’re grabbing a date and spot to gather with our Master’s friends and neighbors. We hope you will join us!

Arrive Wednesday July 19^th at the Pelican Pub for cocktails anytime from 4:30 on. Dinner tables will be reserved for Masters residents in the Vista for 6:00. Ordering from the menu with your member number, all that is needed is your response of yes or no, so we can give staff a head count for planning. Please use the link in the email invitation you received to advise if attending. If you did not receive an invitation please send a note to info@masters33928.us.

We are looking forward to another great time together. Questions, call or text Pat Becker or Betsy Wells at. We look forward to seeing you there!

(And seasonal Masters residents, sorry to bombard you with an unnecessary email.  But if, by chance, you are in the area, please join us!)

Click here to see who has replied to the invitation email.

BOARD OF DIRECTORS MEETING

Presentation by Frankly Coastal Property Management/Collier Financial

Frank Parrish of Frankly Coastal Property Management and Collier Financial provided detailed information on his background and prior systems experience.  Frankly Coastal was established in the Tampa Bay area in 2015 working with 20 communities on their property management requirements.  Frankly Coastal has developed robust systems that simplify and standardize language specific to each of their clients and provide real time access to bank balances by using daily uploads from the applicable financial institutions.  Frankly Coastal acquired Collier Financial to expand their footprint into the Southwest Florida area and has begun providing property management services to many of that client base.  During the presentation, Frank shared a demonstration of the website, provided detailed explanation of how their employees use the website to provide service to their customers, explained how tickets are developed to track issues from inception to completion and showed the level of access to the website that is provided to the client base. 

Frankly Coastal Service Agreement

At the conclusion of the presentation, the Board voted to authorize the Masters Association President to sign a Service Agreement with Frankly Coastal on behalf of the Masters at Pelican Sound Neighborhood Association, Inc.  Frankly Coastal will provide both Property Management and Financial Services to the Masters Community.  Frankly Coastal has been and will continue to work with Cambridge Management to ensure a smooth transition. 

Communications to all homeowners with contact information for Frankly Coastal will be distributed shortly.

Respectfully Submitted,

Lynelle Moscaritolo
Board Secretary