Coronado Shores Condominium Association #9
BOARD OF DIRECTORS
August 26, 2022
A meeting of the Board of Directors of Coronado Shores Condominium Association #9 was called to
order by Board President, Ken Sigelman at 10:00 am, on Friday, August 26, 2022, in the conference
room located at 1820 Avenida del Mundo, Coronado California.
Ken Sigelman, President (by Zoom)
Elizabeth Hammond, Vice President (by Zoom)
Cheryl Mahoney, Secretary (by Zoom)
Robert Bishop, Treasurer (by Zoom)
David McNelis, Member at Large (by Zoom)
Rafael Estrada, Association General Manager (by Zoom)
32 Homeowners (by Zoom and Telephone)
Upon motion duly made, seconded, and carried, by the Board of Director’s, the Board of Directors
approved the following Consent Agenda.
General Board Meeting Minutes July 22, 2022
Financial Report, July 31, 2022
Financial Report, December 31, 2021
Robert Bishop made a motion with a second by Elizabeth Hammond to approve the year ending
December 31, 2021, final financial statements. Motion passed 5-0.
Treasurer’s Report – Robert Bishop
The Finance Committee met in August 2022, to review the financials from July,2022.
July Balance Sheet
Reserve Cash $1,816,716
Total Revenue $167,238
Total Expenses $173,696
Deficit ($6,458) Due to three pay periods in July.
Members Equity shows a deficit of $1,006,820
Robert Bishop noted that there is currently $700k in Morgan Stanley and that in September 2022,
$800k in CD’s is maturing, that will go into our cash account.
Elizabeth Hammond made a motion, seconded by David McNelis to place the $800k back into 3 (three)
month FDIC insured CD’s. Motion passed 5-0.
Delinquencies: – Rafael Estrada
Rafael said that there is one account that is past 90 days delinquent. He is working with Consortium to
bring this account current.
El Mirador Building Committee Reports:
Renovation Committee – Susan Handel
The Renovation Committee had met earlier in the month to discuss and review the renderings that
had been sent to the committee by Matterport. Susan presented a slide show of the renderings and a
description of the materials used in the renderings. She said that this was a baseline to build off from.
Susan also noted that the committee is taking suggestions for names of designers/architects and
builders for review.
Elevator Committee – Cheryl Mahoney for Robert Bishop
The State Inspection that was to be conducted on August 3rd had to be cancelled as Schindler realized
on the 28th of July that a special lobby elevator fixture would have to be manufactured and that could
take weeks. This panel was installed on August 24th, 2022. This was to be followed by the e-power
testing on the 29th of August. Depending on how that test goes, Schindler will contact the State
Inspectors, to conduct a final inspection.
Landscape Committee – Patricia Boer
Patricia had no report from the Landscape Committee. She did mention that Mission Hills Nursery
replaced all ten blue pots with marigolds to supply a more unified look. She asked Rafael to
investigate where the water access is found on the terrace to use for watering terrace plants.
L & R Committee Report – Ken Sigelman
The 2023 L & R budget planning workshops have been scheduled. Ken noted that the building
assessments will increase in 2023 for all Coronado Shores buildings. The numbers are looking
unfavorable due to the increase in energy costs. The committee is getting an Insurance Committee
charter drafted. The charter will give the committee the responsibility to ask for bids from multiple
Maintenance Report – Rafael Estrada
The complete Maintenance Report is included in the Board packet for the Board of Director’s review.
Rafael mentioned that the Coronado Fire Chief had conducted a complete building audit. As of today’s
date, all but two of the items that were noted in the audit for repair or more attention, have been
completed by the engineering staff and vendors. Rafael also wanted to remind residents that there
would be a Maintenance Committee walk about on September 1st at 9:00am. All residents are
welcome to join the walk about.
Haney Accountants, Inc. 2023 Annual Budget & Required Disclosures
Engagement Letter – Rafael Estrada
Robert Bishop made a motion with a second by Cheryl Mahoney to engage with Haney Accountants
Inc., to prepare and compile, the forecasted balance sheets as of December 31, 2023, and 2022 for
Coronado Shores Condominium Association No. 9. Motion passed 5-0.
Lara Accountancy Engagement Letter -Rafael Estrada
Robert Bishop made a motion with a second by Cheryl Mahoney to hire LARA Accountancy Group,
Inc., to review and prepare our financial statements and the federal and state income tax return for
year ending December 31, 2022. Motion passed 5-0
Schindler Upgrade Order Agreement – Rafael Estrada
Schindler sent a proposal to buy and install the front desk push button allowing the lobby attendant
to call the elevator for use on either lobby. The cost is $2,893.00, plus applicable taxes. David McNelis
made a motion seconded by Robert Bishop to approve this installation. Motion passed 5-0.