Property Management, Inc.

BOARD OF DIRECTORS REGULAR MEETING AGENDA Wednesday October 29, 2014

11:30 AM Conference Room A At the Office of the

Housing Authority of the County of Santa Clara 505 West Julian Street, San Jose, CA 95110

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The Board of Directors may take any actions relating to the issues on the agenda following the Board’s consideration of the matter and discussion of the recommended action.

I. Call to Order II. Roll Call III. Welcome IV. Public Comment

This portion of the meeting is reserved for persons desiring to address the Board on any matter not on

this agenda and within the subject matter jurisdiction of this Board. Speakers are limited to two

minutes. The law does not permit board action or extended discussion of any items not on the agenda

except under special circumstances. All statements that require a response will be referred to staff for

reply in writing.

V. Consent Calendar

Items on the Consent Calendar are considered to be of a routine nature, and will be approved by one motion and one vote, unless an item is removed from the consent calendar for discussion.

A. Minutes: Approval of the 9/19/14 Regular Meeting Page 1 B. Minutes: Approval of the 9/25/14 Regular Meeting Page 5

Board administration

No Board Administration

VI. General Business

Persons wishing to address the Board on a regularly scheduled item on the agenda are requested to

complete a form located on the table as you enter the room. (Government Code Section 54953.3). The

Board will hear comments on an item during their consideration of the item, prior to taking action, if

any. Individual speakers will be asked to limit their presentations to three minutes. NOTE: The

Chairperson may limit the number or duration of speakers on any matter. Under the Brown Act, the

Property Management, Inc. Board Meeting October 29, 2014

public is guaranteed the right to provide testimony at any regular or special meeting on any subject

which will be considered by the Board, before or during its consideration of the item (§ 54954.3(a)).

Review and approve the 2015 Operating Budget for PMI.

A. Property Management, Inc. Page 7

Acceptance of the FYE 12/31/13 audit for PMI.

B. Accept the FYE 12/31/13 audit for PMI dated 9/11/14 Page 10

Acceptance of the 2013 tax return for PMI.

C. Accept the 2013 tax return for PMI submitted 9/4/14 Page 19

VII. Correspondence VIII. Director Comments IX. Date, Time and Place for Next Meeting:

TBA 9am-5pm

Housing Authority of the County of Santa Clara Conference Room A/B

X. Adjourn

The Housing Authority will make reasonable efforts to accommodate persons with disabilities. If you require special accommodations, please call (408) 975-4623 at least three days in advance in accordance with the Rehabilitation Act of 1973. For assistance in attending the meeting once at the location or once the meeting is in session, please call (408) 398-0380. For translation services in Spanish or Vietnamese, please contact (408) 975-4623 at least three business days in advance.

Property Management, Inc. Board Meeting October 29, 2014

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Account Account G/L Budget Row

Number Name 01/2014-12/2014 Total

3000-0000 INCOME

3690-2100 Accounting Fees 1 0 135 22 22 22 22 22 22 0 0 0 0 0 0

3999-0000 TOTAL INCOME 0 135 22 22 22 22 22 22 0 0 0 0 0 0

4000-0000 EXPENSE

4001-0000 ADMINISTRATIVE:

4170-0100 Financial Audit 1 0 7,500 0 0 0 0 0 0 0 0 7,500 0 0 0

4199-9900 TOTAL ADMINISTRATIVE: 0 7,500 0 0 0 0 0 0 0 0 7,500 0 0 0

4501-0000 GENERAL EXPENSES:

4510-0900 Other Insurance 2 1 0 12,082 590 590 590 590 590 590 590 590 590 590 590 5,590

4590-0100 City License Fee 1 0 852 0 0 0 0 0 852 0 0 0 0 0 0

4590-0200 State Fee 0 800 0 0 0 800 0 0 0 0 0 0 0 0

4599-0000 TOTAL GENERAL EXPENSES: 0 13,734 590 590 590 1,390 590 1,442 590 590 590 590 590 5,590

4999-0000 TOTAL EXPENSES 0 21,234 590 590 590 1,390 590 1,442 590 590 8,090 590 590 5,590

4999-5000 GROSS SURPLUS 0 -21,099 -568 -568 -568 -1,368 -568 -1,420 -590 -590 -8,090 -590 -590 -5,590

4999-9000 NET SURPLUS 0 -21,099 -568 -568 -568 -1,368 -568 -1,420 -590 -590 -8,090 -590 -590 -5,590

9999-0000 NET INCOME (LOSS) 0 -21,099 -568 -568 -568 -1,368 -568 -1,420 -590 -590 -8,090 -590 -590 -5,590

November

Budget WorksheetRevision = NEW

Property = ppmi05,Book = Accrual,Start Month = 01/2015,Duration = 12 months

D N January February March April May DecemberJune July August September October

Property Management, Inc. Board Meeting October 29, 2014 Page 7 of 38

Budget Year Begin: 1/2015Account Range From #3000-0000 To #4999-0000

Worksheet Details by Account10/14/2014 9:29:48AM\\florida\yardi\defpath\Reports60\Budget_Worksheet_Account_Range_L_0908b.rpt

Property: (ppmi05) - Property Management IncRevision: "NEW" Books: Accrual

GL Account Number and Name 11/20151/1/2015 12/201510/20159/20158/20157/20156/20155/20154/20153/20152/2015 TOTALS$22.50 $22.50 $22.50 $22.50 $22.50 $22.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00#3690-2100 - Accounting Fees $135.00

Unit Tenant SqFt From ToCredit Detail Section for GL Acct# 3690-2100 - Accounting Fees

TotalsCharge 1/1/2015 2/2015 3/2015 4/2015 5/2015 6/2015 7/2015 8/2015 9/2015 10/2015 11/2015 12/2015Row

10/14/14Accounting Fees for Seifert Property @ $7.50/per unit per month0 $22.50 $22.50 $22.50 $22.50 $22.50 $22.50 $0.00 $0.00 $0.00 $0.00 $0.00$0.00 $135.001

$22.50Totals for GL Acct# 3690-2100 - Accounting Fees $22.50 $22.50 $22.50 $22.50 $22.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $135.00

Narratives Date Type NarrationDetail Row

Budget Accounting fees for Seifert @ $7.50 per unit per month

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7,500.00 $0.00 $0.00 $0.00#4170-0100 - Financial Audit $7,500.00

Date Source Description ReferenceDebit Detail Section for GL Acct#4170-0100 - Financial Audit

Totals2/2015 3/2015 4/2015 5/2015 6/2015 7/2015 8/2015 9/2015 10/2015 11/2015 12/20151/1/2015Row

10/14/2014 Total for Account $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00$7,500.00 $7,500.001

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7,500.00 $0.00 $0.00 $0.00Totals for GL Acct#4170-0100 - Financial Audit $7,500.00

Narratives Date Type NarrationDetail Row

Budget 2015 Audit fees for Lindquist $7500

$590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $5,590.13#4510-0900 - Other Insurance $12,082.00

Date Source Description ReferenceDebit Detail Section for GL Acct#4510-0900 - Other Insurance

Totals2/2015 3/2015 4/2015 5/2015 6/2015 7/2015 8/2015 9/2015 10/2015 11/2015 12/20151/1/2015Row

10/14/2014 Philadelphia D & O InsurancePremium

$590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.13$590.17 $7,082.001

10/14/2014 Philadelphia D & O InsuranceDeductible

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5,000.00$0.00 $5,000.002

$590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $590.17 $5,590.13Totals for GL Acct#4510-0900 - Other Insurance $12,082.00

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Property Management, Inc. Board Meeting October 29, 2014 Page 8 of 38

Budget Year Begin: 1/2015Account Range From #3000-0000 To #4999-0000

Worksheet Details by Account10/14/2014 9:29:55AM\\florida\yardi\defpath\Reports60\Budget_Worksheet_Account_Range_L_0908b.rpt

Property: (ppmi05) - Property Management IncRevision: "NEW" Books: Accrual

GL Account Number and Name 11/20151/1/2015 12/201510/20159/20158/20157/20156/20155/20154/20153/20152/2015 TOTALS

Narratives Date Type NarrationDetail Row

Budget Directors and Officers Insurance for $7082 plus $5000 deductible

$0.00 $0.00 $0.00 $0.00 $0.00 $852.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00#4590-0100 - City License Fee $852.00

Date Source Description ReferenceDebit Detail Section for GL Acct#4590-0100 - City License Fee

Totals2/2015 3/2015 4/2015 5/2015 6/2015 7/2015 8/2015 9/2015 10/2015 11/2015 12/20151/1/2015Row

10/14/2014 City of San JoseBusiness LicenseRenewal

$0.00 $0.00 $0.00 $0.00 $0.00 $852.00 $0.00 $0.00 $0.00 $0.00 $0.00$0.00 $852.001

$0.00 $0.00 $0.00 $0.00 $0.00 $852.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Totals for GL Acct#4590-0100 - City License Fee $852.00

Narratives Date Type NarrationDetail Row

Budget CSJ Business License Renewal

$0.00 $0.00 $0.00 $800.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00#4590-0200 - State Fee $800.00

Date Source Description ReferenceDebit Detail Section for GL Acct#4590-0200 - State Fee

Totals2/2015 3/2015 4/2015 5/2015 6/2015 7/2015 8/2015 9/2015 10/2015 11/2015 12/20151/1/2015Row

10/14/2014 Franchise Tax BoardCA Form 100-ES77-0309501 2012Corp. Estimated Tax

$0.00 $0.00 $0.00 $800.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00$0.00 $800.001

$0.00 $0.00 $0.00 $800.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00Totals for GL Acct#4590-0200 - State Fee $800.00

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