BOD meeting October 2, 2022


San Francisco Suites

Board of Directors

Minutes of Open Meeting (draft)

October 2, 2022


I. Call to Order

President Meibeyer called the meeting to order at 11:10 a.m. The meeting was held via zoom, with only Cynthia in the Board Room, with President Meibeyer presiding online via Zoom.

II. Roll Call

Board Members present (via zoom):

Chuck Meibeyer, President

Jo Ann Trembath, Vice-President

Dwight Walker, Treasurer

Fred Munroe, Secretary

Jeff Reichel, Member at Large

Others present:

Cynthia Reid, General Manager

Bill & Eileen Neville, owners

Bob Goff, owners

Sue Josselyn, owners

Todd & Maureen Goolkasian, owners

III. Owners Forum:

There were no comments from the owners.

IV. Approval of Minutes:

The minutes from the June 26, 2022 board meeting, with no corrections, were moved for approval on a motion by Jo Ann, seconded by Dwight. With no further discussion, the motion carried
unanimously, with the minutes approved as submitted.

V. Treasurer’s Report:

  1. Dwight provided a report regarding the current financial status of the Suites as of July 31, 2022. He indicated that our cash on hand would cover 105 days of operation, but there are 153 days left in our operating year. This has been an ongoing issue and will be discussed further today, as we look at our budgeting for the coming year.

  2. As of July 31, 2022, the operating account balance was $311,445. The Reserve account balance was $899, 771.

  3. Dwight brought to the board’s attention the outstanding work done by Aaron and Cynthia to clean up the format of our balance sheet, giving us a clearer monthly picture of our overall
    financial status.

  4. The year-to-date budgeted revenue was $634,556, while the actual amount was $611,697. This shortfall was largely due to the decrease in projected bonus time income received.
    However, on the expense side, actual expenses were $588,283. A clear advantage over the year-to-date budgeted amount of $622, 713. Overall, revenue against expenses did show a favorable position of almost $12,000. Through July about $19,000 was spent out of
    replacement reserves for various projects. Chuck commented about our favorable 65% “cash to major replacement” position.

VI. General Manager’s Report:

  1. Related to Parlors sold and assessments collected, Cynthia has collected balances
    outstanding of $17,436, leaving an uncollected balance of only $8,120. 12 Parlors were sold and 12 other Parlors were adopted with assessments collected. Cynthia, in consultation with President Meibeyer, will be looking at alternative title/escrow providers to streamline this process.

  2. Related to shares in a transitional status: There is one Master in escrow, which was sold for $4000. There is also one Parlor considered a Deed Back, which will be sold. Cynthia thanked Chuck specifically for finding a way to bond for possible liens against this share, in order to clear up the issues impeding its sale. It will be sold, once all the needed paperwork has been finalized.

  3. As of the last meeting we had 7 shares in foreclosure. As of this meeting we only have 2.
    Cynthia indicated that once again with Chuck’s assistance, we were able to get these owners to clear the status of their shares and/or deed them back to the Suites.

  4. As of today, Cynthia stated she has collected the assessments on 812 shares.

  5. Some insurance coverage renewals have recently been completed. The ISU premium has remained the same. There was a small increase in the Farmer’s Insurance policy. The worker’s comp insurance has decreased by at least $2,400. Cynthia was pleased to tell us that we have had zero workers’ comp claims, over the past three years. This is a remarkable occurrence in the hotel industry. The medical coverage does not renew until January. Dwight asked about whether or not we should consider earthquake insurance. It was explained that, after
    reviewing this option many years ago, it was agreed the cost-benefit was unfavorable for the organization.

  6. Occupancy continues to be on the rise. Owners are pleased with our staff retention and the overall continuity as we strive to move toward a normal operating environment.

  7. Employees of the Quarter are Eric Ingersoll, Tony Verastegui, and Luis Martinez. Only Tony was present for today’s presentation. It is very unusual to have this honor presented to three
    employees, for the same quarter. Cynthia shared with all present the outstanding service
    provided by all three of these employees during a very challenging period this summer at the Suites.

VII. President’s Report:

  1. President Meibeyer provided a status review of the window shade project. The current quote of $50, 600 would include both the preferred “braided cord” and the addition of necessary fire retardant treatment on the fabric. Pamela, our decorator, brought to our attention that the valances on all windows need some remedial action. Her overall quote does include those repairs. Dwight expressed some concerns related to child safety, with braided cords. Chuck indicated that both cord types are considered child safe. A general discussion looked at many aspects of the two options. A motion was made by Fred to select the shades with the braided cord and approve the overall project with a slight increase in cost. The motion was seconded by Jo Ann. During a brief discussion, Chuck noted we need to instruct the installers to address the safest height for the placement of cord hooks. With no further discussion, the motion carried unanimously. Chuck indicated the plan is to carry out this project in January.

VIII. Old Business:

  1. The status of Parlor sales and the September Adopt a Parlor program were covered in the General
    Managers report above.

  2. Status and action related to the replacement of window shades were covered in President’s Report above.

IX. New Business:

  1. Reserve Study: Per direction from the board, after looking at the prior year’s reserve studies,
    Cynthia conducted a tour of the property, along with our contractor, electrician, heating/boiler contractor, and our elevator services provider. After their tour of the property, these service providers concluded that many of the scheduled 2022 and 2023 replacement items did not actually need to occur because those components of the Suites were in good condition. Cynthia’s itemized report was included in written format, having been delivered in writing to President Meibeyer and Treasure Walker. A full copy of this Reserve Study will be on file. Cynthia also noted that the written summary showed the incorrect annual cost for the fire panel certification. The corrected amount is $250.
    On the forward planning schedule for 2023, currently included items are the replacement of lobby wallpaper, the window shade replacements approved earlier, and the carpet replacement.

  2. 2023 Allocation to Replacement Reserve Fund (CM). Chuck summarized the Suites’ financial history in which the funds on hand run out approximately late October or early November each year so the Suites have to use funds from the following year’s Assessments that are received early to cover remaining costs through the end of the year. The President, General Manager, and Treasurer are recommended the Association correct this anomaly by foregoing the allocation of funds out of 2023
    Assessment of the Replacement Reserve Fund (based on the current healthy level of Reserves and ability to safely delay certain projects). This would be a one-time action to better align the revenue and expense balance moving forward. A motion to allocate all 2023 revenue to the operating fund, for one year only, was made by Dwight and seconded by Fred. On further discussion, the motion was amended to include the stipulation that any excess funds, which remain in the operating fund at the end of 2023, will prompt our further evaluation as to whether or not these funds are then shifted to reserves or remain in the operating account. With no further discussion, the motion carried unanimously

  3. Draft 2023 Budget: At the direction of the President and Treasurer, the General Manager provided two draft budgets for consideration. One is a 7% increase of $102 per share. The second draft budget is a 9% increase of $131 per share. This is a preliminary item with the item set to come back to the board at the November meeting for final action. It was moved by Dwight and seconded by Jo Ann to increase the 2023 assessment by 7% due to increased costs resulting from substantial inflation and supply chain issues that have raised costs for the Suites. With no further discussion, the motion carried unanimously.

  4. Consideration of Board Room Rental Rates: Cynthia is requesting the rental cost for board room event usage, including setup and clean-up, be increased to a flat $100. On a motion from Jo Ann and seconded by Jeff, it was moved to institute this increase. With further discussion, it was suggested this action not be taken until the chairs in the board room are
    replaced. This suggestion was not supported by the motion maker or the second. With no further discussion, the motion carried unanimously.

  5. Possible Change in Banking Relationship: Cynthia and Dwight indicated that our Axos CD account is scheduled (by the bank) to automatically roll over in mid-October. There is concern that because this would lock this account at a rather low-interest rate, the association needs to stop the automatic action. The desire is to evaluate our current banking relationships, over the next few months. This does require board action. Dwight moved to do so, and Jo Ann seconded. With no further discussion, the motion carried unanimously.

X. Next Meeting Date: meeting of the Board of Directors is November 5, 2022.

XI. Adjournment: On a motion by Fred, seconded by Jo Ann, the meeting adjourned

by unanimous consent at 12:49 p.m.

Fred Munroe, Secretary

General Manager letter November 2022

November 2022 General Manager’s Letter

The first day of November brings rain to San Francisco and with the chilly weather, thoughts turn to the holiday season which is rapidly approaching. I want to also remind owners that it is soon time to pay property taxes as the bills were sent out in October. If you are a new owner or have moved, you will need to go online to pay your tax bill or you can always contact me for assistance. I have gone to City Hall and spoken to the Tax Assessor about the addresses not being changed to the new owners and was told that due to the pandemic, there is a yearlong backlog, nevertheless, the property taxes must be paid, or your share will incur late fees.

Now back to celebrating the fall and making plans for Thanksgiving. Streamers of autumn leaves and garlands welcome you as you enter the SF Suites lobby and soon there will be the fragrance of hot cider and cinnamon in the air as you are offered a warm mug at check-in.

Many owners love to spend Thanksgiving dinner at The House of Prime Rib or Harris. If you have not already made reservations, you can always order online and bring your dinner back to the Suites to enjoy.

The Palm Court restaurant in the new Restoration Hardware Building called HR on Pier 70 is gorgeous and perfect for a special dinner out in SF. The restaurant, two cocktail bars, and a rooftop garden are nestled among the interior design galleries.

Recently, the Presidio Tunnel Top opened at Crissy Field on 210 Lincoln Boulevard. Guests are enjoying the view of the Golden Gate Bridge while taking the Cliff Walk. This is a wonderful place to take children, have a picnic, or warm yourself in front of the open-air fire pit. There are also food trucks available from 9 am to 6 pm daily.

The City is full of travelers, cable cars are spilling over with tourists and the outdoor parking lots are full of diners.

The Dream force conference in September was an enormous success, bringing in $40 million dollars in revenue while the attendees filled hotels resulting in a citywide occupancy of 85%.

The Mayor has filled her promise to bring back a safe environment in Union Square by adding more City Ambassadors and police. I attended a meeting at the Mark Hopkins that hosted GMs from Nob Hill hotels, restaurant owners, and The Chief of Police and Firefighters Associations to hear Supervisor Peskin explain the need for communities to work together to fight crime, the homeless crisis, and the need to keep the city streets clean. I have a great relationship with the General Managers of the Mark Hopkins and the Stanford Court and have received assistance in keeping our environment free of intruders and encampments.

Please call the front desk to make your holiday plans at the Suites and enjoy our beautiful

City by the Bay. As the poet, Ashleigh Brilliant wrote,

“There may not be a Heaven but there is a San Francisco”

We all look forward to welcoming you back to your home for the holidays!

Warmest wishes,
Cynthia Reid
General Manager
San Francisco Suites


BOD Meeting June 26, 2022

San Francisco Suites
Minutes of Open Meeting (draft) June 26, 2022

  1. Call to Order

President Meibeyer called the meeting to order at 11:01 a.m. The meeting was held in the Board Room, with Chuck participating online via Zoom.

  1. Roll Call

Board Members present:

Chuck Meibeyer, President (via zoom) Jo Ann Trembath, Vice-President Dwight Walker, Treasurer

Fred Munroe, Secretary

Jeff Reichel, Member at Large

Others present:

Cynthia Reid, General Manager Max & Sue Josselyn, owners Maureen & Paul Larson, owners Sharon Munroe, owner

Pamela Murphy (interior designer) Kenneth von Berg, (IT support)

The President took a moment before proceeding to welcome new board members Dwight Walker and Fred Munroe to the board and expressed his pleasure of us all proceeding together.

  1. Owners Forum:

Sue Josselyn expressed her pleasure with the new gate, the renewal of the roof deck, and the fact that we are currently displaying a Ukrainian flag. She also had some concerns about the bathroom paper goods and our prospects of an ongoing relationship with the operator of the parking garage.

  1. President’s Report:

    1. Chuck noted that Dwight brought to his attention, the standing requirement for an appointed committee to conduct regular financial reviews. Our legal counsel confirmed this could be a standing subcommittee of the board. On a motion by Dwight, seconded by Jo Ann, it was moved that this standing committee would, at this time consist of the President and the Treasurer. The motion was approved unanimously.
    2. Compensatory time for the owners due to the pandemic expires on August 31, 2022. It was clarified this expiration date was previously set by the board and no further action is needed. Chuck com- mended Cynthia and all staff, along with the previous board, for their overall handling of ways to “balance” the challenges of many owners holding unused nights during the past two years due to Covid.
    3. At the time of the original development of the Suites, many shares were purchased with loans secured by their share. Those promissory notes were then resold to outside financial institutions. What we are now seeing is many owners being unable to sell their shares due to a lack of clear title ownership and/or liens for which there is no record of payment. Chuck suggested that the board make all reasonable efforts to help current owners clear these title issues. His intent was to make sure this information is widely known by all current owners, because some owners may feel they are faced with challenges that adversely affect the fluidity of their shares. Fred asked Cynthia how many shares fall under this “cloud”. She indicated that the association currently owns three shares that have unclear liens preventing them from being sold. Chuck said we are likely to see this happening more often in the near future. The board is pleased with the efforts that Cynthia has already made in this regard and concurs with the president regarding continued efforts to clear this issue.

    4. Chuck expressed his concern with the ongoing surge in Covid. He urged all to remain diligent in how we continue managing the use of public areas of the Suites, along with the Board Room. Cynthia in- indicated the need to add language to our website, in order to make our rules related to unvaccinated guests more widely understood. This is especially important in relation to guests, who are not owners. These are generally either guests of owners or exchange guests. Cynthia will look at the best way to impart this information.
    5. Cynthia requested the board provide stricter guidelines regarding how the board room is used by the owner for events. And she expressed her concern related to these events during Covid. Chuck suggested, that rather than some formal policy, he is willing to review this on a case-by-case basis with Cynthia. The board concurred.
  2. Approval of Minutes:

The minutes from the March 12, 2022 board meeting, on a motion to approve by Jeff, seconded by Jo Ann, with Dwight and Fred abstaining, the motion carried 3 to 0, with the minutes approved as submit- ted.

  1. Treasurer’s Report:

    1. Dwight introduced the single-page outline of our financial standing, which he refers to as “The Dashboard”. (Post board meeting it was decided to attach this dashboard to these minutes, and all future minutes, as a record readily available for review.)

    2. As of April 30, 2022, the operating account balance was $703,682. The Reserve account balance was $725,091. (Total fluid assets of $1,429,773) There were 6 delinquent annual assessments, totaling $9,589.30.
    1. We have not transferred reserve funds to the reserve cash account, as of today. Our bylaws direct us to do this within 10-days of receipt, which has not occurred. This will be addressed later in this meeting, along with questions related to operating cash on hand for the remainder of the year. However, our reserve balance in all areas is very healthy.
    2. Long term, Dwight is reviewing what we are incurring in banking fees, related to the regular transfer of funds. He will bring the board some recommendations in the near future to address this concern.

    3. Based upon lighter use of bonus time and a few other areas, this year, we currently see, in relation to our budget a reduction in income, with expenses currently being over budget.

  1. General Manager’s Report:

    1. Last year 27 shares, owned by the association, were sold. But last year and into this year, during the pandemic, the escrow/transfer process has become very slow and cumbersome. Cynthia, in consultation with Chuck will be looking at alternative title/escrow providers to streamline this process. The association currently owns 17 parlor shares. 12 of those can be offered for sale including those that now have been cleared of outstanding tax liability/liens. All of these shares also owe the current year’s annual assessment. Only 801 of the total of 816 shares have paid their assessment. There are 6 parlors currently in foreclosure. It is likely some of those 6 will settle their delinquency before they are subject to sale in December.

    2. 2022 Annual Assessments still outstanding – $17,436.
    3. Cynthia reminded the board that we spend $18,000 annually on Complimentary Amenities for our owners that are generally provided at a fee at hotels and other lodging facilities.
    4. The employee of the Quarter, Andrew Flack was commended for his outstanding service to our owners and guests.
  2. Old Business:

    1. Pamela Murphy, our interior designer, presented samples of the most likely material for the re- placements to our current plastic roll-up window shared, which is operated by a chain on the side. She reviewed the three estimates Cynthia received to replace all window shades. Rather than the plastic roll-up shades, the recommendation is to install fabric Roman shades. The Roman shades have a longer life span and can be cleaned on-site.

After reviewing the three estimates, Pamela found that she can deal directly with the same fabricator associated with the best outside bid. The project, including installation, is currently is estimated at $46,813. For clarification, this overall project does not include kitchen shade. The kitchen shades were replaced about 5 years ago, with years of useful life remaining.

Jeff expressed some concerns related to the safety of the attached cords used for adjusting the shades. Pamela indicated she would seek further information to address this. Jo Ann asked about the view of the shades blackout panel from the outside. Pamela indicated that the panel is sandwiched between the inside facing and outside facing fabric and would not be seen at all. A motion was made by Fred to proceed with Pamela’s recommendation, with a preference for installing “continuous cord shades” if this can be done for an amount not to exceed $50,000. Seconded by Dwight.

With no further discussion, the motion was carried unanimously. The selection of actual fabric was deferred to a subcommittee of Jo Ann, Chuck, and Cynthia, to work with Pamela on the resolution of that issue and the question best operating cord.

    1. Cynthia brought the board up to date on the question of refinishing the kitchen counters (between the kitchen and living rooms). The question of reconditioning the wood, at a cost of about $24,000 total, versus stripping down the wood and providing a long-term painted finish, at a cost of about $31,000, was reviewed. Chuck suggested that the cost of this minor improvement was excessive in relation to other areas of needed improvement, such as the overall condition of the carpeting. It was moved by Jo Ann and seconded by Dwight that the question of refinishing the kitchen counters be tabled at this time. After further discussion regarding our overall forward planning list, beyond this single issue, the motion was carried unanimously. Chuck asked Cynthia to review the overall revised sequencing of all projects on the forward planning list, with the goal of addressing this as part of the budget review at the next board meeting. This would likely also include adding the question of carpeting to the list. No further action on these items was needed today.

    1. Cynthia presented a review of information from the 2020 reserve study, indicating the need for a significant repair to the Boiler Room floor being necessary. This is a safety issue. A motion was made by Fred and seconded by Jeff to make these repairs for a projected cost of $4350. With no further discussion, the motion was carried unanimously.
  1. New Business:

    1. The President reminded the board that the Reserve Contribution of $180,784.80 needs to be moved from Wells Fargo Bank to the Capital One Reserve account. On a motion by Jeff, seconded by Jo Ann, to do so, this was then opened for discussion. It was agreed that Cynthia, the President, and the Treasurer shall evaluate whether there is a more advantageous destination point for this reserve contribution. The motion carried unanimously.
    1. Cynthia asked for approval of a Summer Parlor Sale, with the same costs and guidelines as the summer sale from 2021. The president reviewed why these sales need to include a provision requiring escrow and title insurance. He reminded the board of our earlier discussion about the historical title, lien, and liability issues with some shares being offered for sale. On a motion by Dwight, seconded by Jo Ann, the motion to authorize the sale carried unanimously.
    1. The President spoke about how historically, an owner’s liability for damages, when they or their guest caused damage has not been as clearly communicated as we would like. These guidelines have, on occasion, preventing the association from recovering the true cost of damages. This does not require direct board action. However, it was agreed that the reservation confirmation, sent out at the time of booking, needs to be more clear regarding liability for damage during a stay.
    1. Increase in Valet Parking fee: To more clearly recover actual costs, it has been recommended the Valet Parking fee be increased from $52 to $55. On a motion by Fred, seconded by Dwight, a motion was made to do so. Motion carried unanimously.
    1. Chuck introduced the General Manager’s recommendation to increase Bonus Time rates to $160 for Parlors and $180 for Master Suites. He reviewed the need to adjust this cost to remain more realistic with the actual market value, in relation to other lodgings in the city and the owner’s current assessment rate for the 7 inclusive nights per share. A motion by Jeff, seconded by Fred, was made to institute these new bonus night charges. Further discussion brought up by Dwight, looked at considering an in- crease for all bonus nights to a flat $200. The original motion, not amended, carried on a 4 to 1 vote.
    1. Items 6 and 7, under New Business, related to cyber security and the status of our website, were tabled to a later date.

IX. Next Meeting Date: meeting of the Board of Directors is September 24, 2022.

X. Adjournment: On a motion by Dwight, seconded by Jo Ann, the meeting adjourned by unanimous consent at 1:50 p.m.

Fred Munroe, Secretary

To view, the Financials Click here to view in PDF format.


Dear Owners and Friends,

The Board of Directors is pleased and excited to announce an opportunity for you, your family, or friends to buy a parlor from the inventory of Association–owned shares. These shares have been returned to the Suites through foreclosure. And rather than adopt them, the Board has decided to sell them immediately for the price of $100 per share. In doing so, the Board hopes to add committed owners to our Association and to avoid the loss of assessment revenue that this large inventory creates.

If you decide to buy one of the shares being offered, you must also pay the 2022 assessment of $1,453.00 as well as the escrow costs of $800. You can start to use the new share while the escrow is in progress, once you pay the annual assessment. The share year will run from August 1, 2022, to September 30, 2023, allowing seven days of use.

Then, after you pay the 2023 assessment which is due on January 1, 2023, you will have seven more days, to be used based on the regular year for that share.

The parlor sale begins on July 1, 2022 and will end on July 31, 2022.

We will accept email requests for the sale during normal reservation times until 12 noon PST on Sunday, July 31.  All names received will then be pooled, and a drawing will be held on Monday, August 1.

PLEASE NOTE: Payment in full must be received by August 30, 2022.

Thank you in advance for your interest and participation in the Fall Parlor Sale.

Best Regards,

Cynthia Reid
General Manager
San Francisco Suites

gm letter: Auction and bod march 12th

April 7, 2022

Dear San Francisco Suites Owners,

April means baseball and tax time. First, here is a gentle reminder that the second installment of the property taxes is due on April 11. If you have not received your tax bill because you are a new owner or moved and did not contact the Tax Board with your new address, I can help you pay your property taxes online:


  • Property Tax payment

  • 0256T – 139P or 039P

  • Open the bill and pay it with a credit card

Secondly, the SF Treasurer and Tax Collector will be holding an auction for owners who have not paid the past taxes and are now in default. SF Suites have received back shares through the foreclosure process that also have defaulted taxes. The Suites are not able to sell these shares which is the reason we have the Adopt A Share program to collect the assessments.

The tax default auction will be held online at

April 22-24

You must register online and send in a deposit of $5,000 + $35.00 processing fee by April 14
If the shares are not sold, they will be reoffered at a second auction:

May 6-8

The minimum bid will be a lessor amount.
You must register online and pay the $5,000 deposit +$35.00 processing fee by April 25
Here are the SF Suites shares that are up for auction:

88P $2,542.98

5P $2,372.88

70P $2,071.92

219P $1,937.16

229P $2,145.12

242P $1,923.50

The new Buyer will also need to pay the 2022 assessment of $1,453.00

Please find the Terms of sale on the link below:

Thirdly, spring baseball season begins on Friday, April 8:

  • SF Giants play the Miami Marlins

  • Oakland A’s play the Philadelphia Phillies

Call the concierge staff to secure your tickets for the season.

Lastly, Saturday, March 12, the Board of Directors held the first in person and Zoom meeting in the Board Room in 2 years due to the pandemic restrictions. The ballots were counted on Zoom by the Inspector of Elections. Please find the minutes of the March 12 Open Session Board Meeting and the election results on the link below:

Happy Spring and Go Giants!
Cynthia Reid
General Manager
San Francisco Suites