Newsletter
November 2009
Happy Holidays Waikiki Banyan Owners,
Our good news is that maintenance fees will remain at $290 per month in 2010. You can tell by the budget we are sending you with this newsletter that the Board had a choice. An argument can be made that fees should be raised about $10 a month. On the other hand we have a history of slightly underestimating our income and slightly overestimating our expenses. This has worked out well for you over the years. We will be doing our best to live up to past practices. If the economy doesn’t improve and our income does not increase we will take another look at our financial position next year.
Like most businesses we suffered a drop in income due to the depressed economy. At the same time we kept expenses down and put off some non-essential expenditures. Overall we did better than expected and were able to maintain a healthy reserve balance. All in all we managed to not only keep the building in good shape but we improved it. The elevator upgrade was necessary and costly, but resulted in a great advance in not only its operation but eye appeal. As always our Maintenance staff helped improve the building by putting down new stone floors in the elevators and 6th floor lobby landings; starting painting the hallways with a durable semi-gloss finish, and is putting a protective shield on the elevator casings. On a regular scheduled basis we continue with our “back of the house” preventive maintenance. Our goal is to fix it before it breaks so your life isn’t interrupted by many small but expensive crises. We are successful when you do not to notice what we do on a daily basis.
We are expecting 2010 to be a busy year with major projects including repairing the spalling and painting the building.
Aloha
Dick Eide
c/o Administration Office
201 Ohua Ave., #306
Honolulu, HI 96815
Annual Meeting
Proxy Solicitation Notice
The 2010 Waikiki Banyan annual meeting will be held February 19, 2010. An owner requesting to use Association funds to solicit votes for any issue that may be addressed at the annual meeting, including election of Directors, may submit a statement that outlines the owner’s qualifications to serve as a Director, or that describes the issue for which the individual will be seeking proxies. The statement shall be limited to one side of an 8½ inch by 11 inch sheet of white paper with black text.
Requests and written statements must be received no earlier than December 17 and no later than December 24, 2009.
Aloha Nui Loa
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