Waterford Lakes
Homeowners Association Board Meeting Minutes
June 15, 2017
Attendance: 22 residents, PSG and Board Members
Call To Order: 6:30pm
May Minutes
approved as written.
End of May Financials: 35%
of Year-to-Date Budget after 5 months
YTD: $17,968.94 net profit/loss
$6,000 per month going into reserve
account/$72,000 per year
$95,000 in budget
to replace 8 roofs
Checking
account balance: $44,001.86
Roofing Reserve Fund Balance: $133,966.96
Certificate of Deposit: $51,282.53
Total
Reserve Fund Balance: $185,212.20
Largest expense categories in
May:
1. Mowing
$5,500
2. Tree Care
$1,623
3. Entrances/Shade Garden $1,430
Committee
Reports:
1.
The Social
Committee welcomed new residents John & Sandra Brewer (360
Waterford Lane) and Luann Elsbury (229 Waterford Court). Luann will be offering a mosaic class for
interested residents. More information
to come. The Women’s Tea was a
tremendous success. The Committee out
did themselves creating a “tea atmosphere” and fun event. The next Community Activity is a picnic
celebrating Waterford Lake’s 20th Anniversary, Saturday, July 15th
from 1:00pm-3:00pm. Hamburgers, hotdogs,
buns and non-alcoholic beverages will be provided. Please bring your favorite dish or
dessert. The Clubhouse will be open for
those who wish to sit inside. Bring lawn
chairs. If you would like to attend RSVP
to Janell Miller 317-506-0758 or Geri Conway 317-268-4353. Social event pictures will be posted on the
Waterford Lakes website.
2.
The Community
Phone Directory Committee will be distributing the new directory
mid-July. Committee members are
contacting residents who did not turn in a form to capture updated
information. The multi-year roofing schedule will be included in the
directory.
3.
The Landscaping
& Architecture Committee reiterated that grates maybe taken
off the front door. They are asking that
you put the screws back in the holes and clean the door. An Architectural
Change Form must be filed with PSG.
Forms are on the website. If you would like to purchase a commemorative
brick for the shade garden, order forms are on the website. Cost per brick is $50. The updating of the front entrances is
proceeding and should be completed in the next 3 weeks. The goal is to be clean, neat, practical for
the hot, dry conditions, low cost and easy to maintain going forward. Money for the entrances and shade garden has
been supplemented with monies that were not spent on snow removal this year.
$6500 has been allocated for both entrances and shade garden. 14 pine trees were taken down at the North
Entrance. 60 small new shrubs have been planted between the two entrances. Sod is to be laid bordering the south
entrances. River rock will added to
freshen up. Sandavol Landscaping will
begin trimming shrubs in the front of homes over the next 2 weeks depending on
the weather. Please post a sign if you
have shrubs you do not want trimmed.
Four Architectural Change Forms have been submitted this month. A Bradford
pear tree at 357 Lakewood Court was removed after splitting in a recent storm. PSG
provided building services in the month of May on 7 properties for roof and
window leaks. A Maintenance Checklist is
to be included in the new phone directory. We would like to remind residents that it is
now your responsibility to purchase any replacement trees for the front yard. However, PSG would be glad to plant the
replacement tree for you. When selecting
a new tree stay away from crab apples, birch trees, soft maples, ash, pin oaks,
Bradford pears and any fruit bearing tree. The new Cleveland and Chanticleer
pear trees are good options.
4.
The next Election and Nomination Committee
meeting will be in July. Committee
members will be notified as to the date and time. Meetings will be at Don Bosma’s home.
Old Business: None
New Business:
1.
The fountain in Pond #1 behind Waterford
Lane/Crystal Court has a motor out. Due
to the age of the equipment the motor cannot be replaced. We have received a proposal from Growing
Image to install a new fountain. We do
not have the funds in the budget to replace the fountain at this time but will
revisit the budget in October. Worst
case scenario, we will budget the expense for 2018. The cost for a new fountain is $3,100 and $4,800
to add the light package. The Board has
decided going forward not to put lights on the fountains due to the
cost/benefit. Don Johnson asked if we
would do any special water treatment in this pond. The Board will make that decision if the need
arises this summer. It was suggested the
Board consider setting up a reserve fund for fountains.
It is important to note that our
HOA has one “Reserve Fund” that is to cover our future infrastructure
needs. We do not setup “special” reserve
funds. It is the Board’s job to
prudently allocate use of these funds.
Currently, the priority is to fund new roofs over the next 7 years
without a special assessment and while maintaining a healthy reserve fund. This
is very important to both buyers and sellers.
2.
Amendments are in the process of being filed in
the Hendricks County Recorder’s Office.
First, a name correction resolution to the Articles of Incorporation and
Bylaws. The original documents (1997)
misstated the name as “Waterford Lakes Estates Homeowners Association,
Inc. The legal name was changed to
“Waterford Lakes Homeowners Association, Inc.” as identified in the Declaration
of Covenants. Second, the location of
membership meetings was changed from Marion County to Hendricks County in the
Bylaws. Third, Bylaws Article VII,
Section 7.05(d) was amended to reflect changes in the Indiana Proxy Law. Fourth, Bylaws Article IX, Section 9.01 has
been amended to follow Indiana law which states any two or more offices may be
held by the same person, except for the offices of the President and Secretary. The amendments will be posted on the website as
soon the documents are recorded.
3.
Residents are asking if they can make a
financial contribution at the neighborhood social events. The members of the social committee have been
contributing much of the food and flyers personally. The Board approved setting out a donation box
at events. Donations are not required. The money donated will go right back into the
social committee budget towards future events.
4.
This is the time of year when family and friends
come to visit. Please be cognizant of
cars blocking the sidewalks. Our walkers
will appreciate it. You may park cars in
the street if need be.
The Goodfinder: A
special thank you to Don Johnson who is picking up the
endless supply of trash along Dan Jones Road;
Jane and Eugene Krakowski for
picking up trash, weed eating, and planting shrubs along Austin Lakes; Bill Jamerson for helping to clean up neighbor’s
flower beds; Peggy Gibbs for picking up hundreds of red ribbons tossed in the
common area along Dan Jones Rd.; Dave Richardson for painting the
entrance Waterford Lake lettering; Peggy
Burke for entering the data and laying out the phone directory; and Becky
Ulrey for pulling weeds in the common area flower bed behind her home. Not
to mention neighbors helping neighbors get to the doctor, pick up groceries and
prescriptions. Needless-to-say, there
are many residents contributing their time and energy to the Community. Realtors have waiting lists of buyers
interested in moving into Waterford Lakes.
Meeting adjourned
7:10pm. Next meeting is Thursday, July
20th 6:30pm.
Respectfully Submitted,
Anne Inman, Secretary
