HLW
Harbor Lights West
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Board Meeting Packet

Board Meeting

Financial data as of July 21, 2026 · Buildium portal exports · 29 units, 2 buildings

defaults to the 3rd Tuesday

Agenda & Live Minutes

Robert's Rules · 60 minutes
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1
Call to Order & Roll Call
· 3 min
Board roster — check each director present
DirectorRoleUnitServing since
Joshua MalczykPresident#204Apr 2024
Yasmina MobarekTreasurer#108Nov 2024
Ellen PoeSecretary#106Sep 2024
Michael TampieriDirector#307Apr 2025
Janneke / Brady DonovanDirector#205Jul 2025
Jennifer McCullarDirector#401Apr 2026
Bylaws quorum for board action: a majority of directors (4 of 6).
Minutes · call to order
2
Approval of Prior Meeting Minutes
· 4 min
Prior meeting
Last meeting
3rd Tuesday
Minutes on file
Meetings / Meeting Minutes
Harbor Lights West · Resources
Standard motion: “Move to approve the minutes of the prior regular meeting as presented / as corrected.”
Minutes · corrections & approval
3
Treasurer's & Financial Report
· 12 min
Position as of July 21, 2026
Total cash
$520,837
all accounts
Operating cash
$32,196
2.0 months of expense
Reserve cash
$488,641
$16,850 / unit
Net operating YTD
+$35,727
income − operating expense
Income collected 57.9% of annual budget Operating spend 60.7% of annual budget Year elapsed 55.1% Monthly assessments $21,558
Categories running ahead of pace (55.1% of the year elapsed)
CategoryActual YTDAnnual budget% usedRead
Risk Management$1,250.00$1,250.00100%At full-year budget
Maintenance & Repair Expenses$27,931.38$28,300.0099%At full-year budget
Federal Tax$1,951.00$2,569.2976%21 pts ahead of pace
Insurance$28,548.26$41,213.6469%14 pts ahead of pace
Janitorial & Landscape$11,554.92$17,780.0065%10 pts ahead of pace
Full category detail, cash trend and budget charts are in the Financials section below.
How we compare to buildings our size
Delinquency: 10.3% — WatchReserve fund: 30.5% — WatchOperating reserve: 2.0 mo — WatchNet operating income: +$35,727 — Good
Detail and industry bands are in “How We Compare” below.
Minutes · treasurer's report
4
Delinquency Review & Collections
· 8 min
Receivables aging as of July 21, 2026
Total past due
$8,665.43
3.35% of annual assessments
Units 60+ days
3
10.3% — lender metric
Truly delinquent
$7,410.59
the balance discussed below
Top 2 balances
91%
of all past-due dollars
UnitOwnerBalance0–3031–6061–9090+Last payment
#306Helen (Sui Fun) Chin$3,912.70$719.90$719.90$719.90$1,753.001/12/2026 90+ days
#404Daniel Gutierrez$2,844.92$867.66$867.66$867.66$241.947/7/2026 90+ days
#205Adam FISHMAN$652.97$0.00$0.00$0.00$652.9710/1/2024 90+ days
Accounts 60+ days past due only. A further 6 units carry $1,254.84 in current-cycle billing (0–30 days) — normal, not delinquent, and deliberately left unnamed here. Fannie Mae / Freddie Mac treat an association as non-warrantable when more than 15% of units are 60+ days delinquent. At 10.3% we are below that line but inside the industry warning band.
Minutes · collections
5
Reserves & Capital Projects
· 15 min
Reserve position
Reserve cash
$488,641
$16,850 per unit · Jul 2026
Percent funded
30.5%
Apr 2026 study, FY2027 basis — ($41,419)/unit
Elevator modernization
ON HOLD
~$470K, both cars
Reserve vs. project
104%
reserve cash ÷ $470K estimate
Elevator modernization — on hold The modernization stays paused until WA Elevator is our service provider. The gating steps are (1) obtain the current TK Elevator contract and document breach, (2) issue notice and exit, (3) onboard WA Elevator, then (4) reopen modernization scope and pricing. Nothing should be committed to a modernization contract before step 3 is complete.
Capital & project items on the clock
Full editable list with dates is in “Upcoming Work, Quotes & Key Dates” below — anything added there flows into tonight's minutes.
ItemTypeDate / status
Minutes · reserves & capital
6
Maintenance & Operations
· 8 min
Open work orders — 7 open, 3 past due
TaskStatusCategoryAssignedDue
HL Elevator Deficiencies
Sent to KRK for mark up of reports.
In ProgressProperty MaintenanceJennifer Osip8/6/2026
HL - Elastomeric Re-Coat
Sent Christian at Chinook a request for May 18th-22nd. Work with Jennifer on getting a site visit planned for accurate deck representation.
In ProgressUncategorizedJoshua Barkema7/24/2026
HL - Building Envelop Inspection
Get quotes on doing an envelope inspection. Talk to Ryan and Oliver as I have not done this before.
NewUncategorizedJoshua Barkema6/26/2026 overdue
HL - Elevator Contract
Board wants to get out of current contract. Get current contract from TK Elevator and send proof of breach to TK Elevator. Once out talk to Sean at TK Elevator.
In ProgressUncategorizedJoshua Barkema8/14/2026
HL - Leak into Garage
Charter is coming out 5/22 to do a leak detection test for water getting into the lower level garage.
NewUncategorizedJoshua Barkema6/19/2026 overdue
HL - Budget vs Actual Reconciliation
Review Budget vs Actual report and fix any categorization problems.
NewFinancial ManagementJoshua Barkema7/14/2026 overdue
HL Shunt trip test
Josh let me know HL needs to complete smoke control testing. Reached out to Vince with Cosco for an estimate and who all do i need there?
In ProgressProperty MaintenanceJennifer Osip7/30/2026
Unpaid bills
VendorDueAmount
The Davey Tree Expert Company08/06/26$2,708.48
Requested new maintenance — raised tonight
RequestRequested byPriorityNotes / next step
Anything entered here is written into the minutes under “Requested New Maintenance.”
Minutes · maintenance & operations
7
Old Business
· 4 min
Active carry-over — raised at the last two meetings (13)
ItemOwnerStatusUpdate / disposition From
Built automatically from every open item in the filed minutes — nothing is dropped. Edit any cell; type the disposition in the Update column and it goes straight into the minutes. Click a date in From to open that meeting in the Meetings tab.
Long-running items still open from earlier meetings (17)
ItemOwnerStatusUpdate / disposition From
These stay off the agenda unless someone touches them. A row only enters the minutes if you type something in its Update column.
Minutes · old business
8
New Business
· 4 min
New items raised tonight
ItemRaised byDecision / statusNext step & owner
Minutes · new business
9
Owner Forum / Open Comment
· 2 min
Owners may address the board; no board action is taken during the forum. Items requiring action are referred to New Business at the next meeting.
Minutes · owner forum
10
Adjournment
· motion to adjourn
Close out the meeting
Next meeting
6:30 PM PT
File minutes to
Resources / Meetings / Meeting Minutes
Harbor Lights West
Minutes · adjournment

Meeting Snapshot

As of July 21, 2026
Total cash
$520,837
operating + reserve
Operating cash
$32,196
2.0 months of expense
Reserve cash
$488,641
$16,850 per unit
Net operating YTD
+$35,727
income − operating expense
60+ days past due
$7,410.59
3 units · 10.3% of the building
Monthly assessments
$21,558
29 units
Income collected
57.9%
vs 55.1% of year elapsed
Open work orders
7
4 in progress · 3 new

How We Compare

Associations of similar size
Delinquency · units 60+ days past dueWatch
10.3%
3 of 29 units
<5% healthy · 5–8% typical · 8–15% warning · >15% non-warrantable
Lenders (Fannie Mae/Freddie Mac) flag a building as non-warrantable above 15%. Your dollar delinquency is 3.35% — healthy — but the unit-based lender metric sits in the warning band.
Reserve fund · percent fundedWatch
30.5%
per Apr 2026 study #7026-9
<30% weak · 30–70% fair · 70%+ strong
Low end of “fair.” Roughly a third of associations sit below 30%. A refreshed reserve study is advisable given the 2024 date.
Operating reserve · months of expenseWatch
2.0 mo
operating cash ÷ avg monthly opex
3–6 months recommended
Operating cash covers about two months of expenses — below the typical 3-month floor. Not alarming, but worth watching.
Net operating income · YTDGood
+$35,727
income minus operating expense
positive & on-budget = healthy
Operations are in the black and assessments are being collected ahead of pace (57.9% vs 55.1% of the year). This is the strong spot.
Bottom line for the board Operations are healthy and cash-positive. The two soft spots are structural rather than urgent: reserve funding at 30.5% — a $41,419 deficit per unit, with the April 2026 study recommending a preliminary $766,200 special assessment for 2027, and operating cash at 2.0 months against a 3–6 month norm. The one metric that can affect owners directly is the 10.3% of units 60+ days past due — it sits in the warning band that lenders watch, so keeping collections moving protects resale financing for everyone.

Financials

Year to date July 21, 2026

Cash on hand

Total association cash, daily

Income vs. operating expense

By month, with net line

Operating spend against budget

Largest categories, actual vs annual budget

Budget performance by category

CategoryActual YTDAnnual budgetUsed%
Utilities$29,166.14$48,569.55
60%
Insurance$28,548.26$41,213.64
69%
Maintenance & Repair Expenses$27,931.38$28,300.00
99%
Administrative Fees$12,837.00$24,749.06
52%
Janitorial & Landscape$11,554.92$17,780.00
65%
Legal Fees$0.00$16,000.00
0%
Fire System$689.66$7,225.00
10%
Federal Tax$1,951.00$2,569.29
76%
Risk Management$1,250.00$1,250.00
100%
Where we stand Income of $149,655 against an annual budget of $258,693 is 57.9% collected with 55.1% of the year elapsed — assessments are being collected slightly ahead of pace. Operating expense of $113,928 against $187,657 is 60.7% spent, leaving net operating income of +$35,727.
Watch items Maintenance & Repair is effectively at its full-year budget already, and Utilities and Insurance together account for the majority of operating spend. Legal Fees are budgeted at $16,000 with nothing drawn — that line is the natural funding source if collections escalate.

Delinquencies

3 units 60+ days past due

Receivables aging

Past-due dollars by bucket

Unit detail — accounts 60+ days past due

UnitOwnerBalance0–3031–6061–9090+Last payment
#306Helen (Sui Fun) Chin$3,912.70$719.90$719.90$719.90$1,753.001/12/2026 90+ days
#404Daniel Gutierrez$2,844.92$867.66$867.66$867.66$241.947/7/2026 90+ days
#205Adam FISHMAN$652.97$0.00$0.00$0.00$652.9710/1/2024 90+ days
A further 6 units carry $1,254.84 in current-cycle billing (0–30 days only). That is ordinary month-to-month timing, not delinquency, so those owners are not named here. Total receivables across every bucket are $8,665.43.
Collections focus True delinquency — balances 60+ days past due — is $7,410.59 across 3 units. On a dollar basis that is comfortable. The concentration is what matters: the two largest balances are 91% of all past-due dollars, and at 10.3% of units 60+ days past due the building sits inside the band lenders watch. Consider a formal demand letter and a documented payment-plan offer on the 90+ balances before the next meeting.

Reserves & Capital

Feb 2024 reserve study

Reserve cash vs. the elevator estimate

What is funded against the largest known project

Position

Reserve cash$488,641
Reserve per unit$16,850
Percent funded (Apr 2026 study, FY2027 basis)30.5% Watch
Elevator modernization estimate~$470,000
Operating cash$32,196
Operating months of expense2.0 Below 3-mo norm
Elevator modernization — on hold Modernization of both cars (~$470K) remains on hold until Harbor Lights West moves to WA Elevator as service provider. Sequence: obtain the TK Elevator contract and document breach → issue notice and exit → onboard WA Elevator → then reopen modernization scope and pricing. Committing to a modernization contract before the service provider transition is complete would lock the association into the current vendor relationship.
Reserve study refresh The current study is dated February 2024. Washington's condominium statutes contemplate a regularly updated reserve study and annual disclosure to owners; a refreshed study before the next budget cycle would also give the board defensible numbers for any future assessment discussion. Confirm timing with the association's attorney and reserve analyst.

Upcoming Work, Quotes & Key Dates

Editable — flows into minutes
Work item / requestTypeDate / statusNotes

Maintenance & Operations

7 open work orders

Work orders by status

Open items

Open work orders

TaskStatusCategoryAssignedDue
HL Elevator Deficiencies
Sent to KRK for mark up of reports.
In ProgressProperty MaintenanceJennifer Osip8/6/2026
HL - Elastomeric Re-Coat
Sent Christian at Chinook a request for May 18th-22nd. Work with Jennifer on getting a site visit planned for accurate deck representation.
In ProgressUncategorizedJoshua Barkema7/24/2026
HL - Building Envelop Inspection
Get quotes on doing an envelope inspection. Talk to Ryan and Oliver as I have not done this before.
NewUncategorizedJoshua Barkema6/26/2026 overdue
HL - Elevator Contract
Board wants to get out of current contract. Get current contract from TK Elevator and send proof of breach to TK Elevator. Once out talk to Sean at TK Elevator.
In ProgressUncategorizedJoshua Barkema8/14/2026
HL - Leak into Garage
Charter is coming out 5/22 to do a leak detection test for water getting into the lower level garage.
NewUncategorizedJoshua Barkema6/19/2026 overdue
HL - Budget vs Actual Reconciliation
Review Budget vs Actual report and fix any categorization problems.
NewFinancial ManagementJoshua Barkema7/14/2026 overdue
HL Shunt trip test
Josh let me know HL needs to complete smoke control testing. Reached out to Vince with Cosco for an estimate and who all do i need there?
In ProgressProperty MaintenanceJennifer Osip7/30/2026

Unpaid bills

VendorDueAmount
The Davey Tree Expert Company08/06/26$2,708.48

Requested new maintenance

RequestRequested byPriorityNotes / next step

Meeting Minutes

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