Waterford Lakes HOA Meeting Minutes
January 2016
Meeting was called to order at 6:30 pm and the Pledge of
Allegiance was recited by all.
Board: Maggie Jones, Suzie Jamerson, and Don Ulrey were present.
Cathy Winterrowd and Mike Barr were absent. PSG Management: Larry Edwards and
Susan Keene were present.
Minutes from last meeting were approved. Don Ulrey's treasurer's report: no meeting in December
Nov./ Dec. income:...$13,264.95 / $13,645.97
Nov./ Dec.
Expenses:...$12,427.87 / $4615.41
Nov./ Dec. Net
income…$13,264.95 / $13,645.97
Nov./
Dec . Checking account balance:....$7,894.47 / $16,324.06
Nov./ Dec. Net
Worth:......$146,078.82 / $155,154.38
Nov./ Dec. Reserve Fund: ........$146,078.82
/ $155,154.38
Architectural Report : none
Social Committee Report: Suzie continues to
visit residents with flowers and get well wishes. New Bible study group meets every Wednesday
10:30am to 12pm at the club house, all residents are invited. Suzie informed
those in attendance at the HOA meeting that two new residents are now welcomed
to our community: they are Peggy Burke
(Waterford Ln) and Debra Wolven (Lakewood Ct).
New Business/Old Business: No old business. New: A
discussion was held concerning a 2016 budget line item removing money for
fertilization. The Board responded by
saying that a budget meeting was held in Oct and all members approved this
measure. It was then discussed at the
November meeting with residents prior to voting on the 2016 budget. The
Board explained that this is a one year temporary solution to help with the
roofing project that will be starting in 2017. Residents put in their suggestions that were
put under advisement. The board is faced
with the task of facing a $700,000 cost to replace roofs within the next 6-9
years. Therefore, some budget cuts are
necessary to meet this cost. The Board is now informing all residents that
an HOA fee increase is inevitable and will occur this coming January 2017 resulting in a fee INCREASE of approximately
$25.00 per month. The HOA fee will then
be $150.00 a month replacing the current fee of $125.00 per month. All residents should prepare now for this
increase to occur beginning January 1, 2017. With this increase we will be
able to start fertilization again along with our roofing project in 2017. The board has a plan to put this increase
income into our reserve account which is now our roofing account. The plan is to have all the roofing done in
approximately 9 years with a positive balance in our accounts.
The Annual meeting will be held on
April 21, 2017 at 6:30 p.m at the clubhouse.
We encourage all residents to attend and to vote. We would also like to inform you that there
will be a vacant spot on the board to elect a new member at this annual
meeting. If any resident is interested
and would like to represent our community by becoming a board member, please
contact Susan Keene at PSG to have your name placed on the ballot for
election.
Attention:
FYI 2016 is a leap year, February has 29 days.
PLEASE: remember to pick up after your pets after
they do their business, including common areas.
Motion made to Adjourn. Next meeting, February 18th,
2016 @ 6:30pm
Minutes prepared by Suzie
Jamerson HOA secretary.