Waterford Lakes
Homeowners Association Board Meeting Minutes
February 15, 2018
Attendance:
32 residents, 5 Board
Members, PSG
Call To Order: 6:35pm
January Minutes Approved
Treasurer’s Report: 2018 through
January 31st Numbers
Checking: $32,496
Profit
& loss: $5797
Roofing
Reserve Fund : $81,303
Certificate
of Deposit: $51,282
% of Budget Spent: 4%
$47,000 was
spent the end of 2017 to lock down the cost for 2018 roofing materials. We were able to take advantage of a group
purchase with another HOA through PSG.
It was important to take this step due to rising costs/material
shortages as a result of the hurricanes in 2017.
2017 Year-end Numbers:
Profit/Loss: $8,323
% of Budget Spent: 97%
Committee Reports:
Social Committee: Biscuits & Gravy Breakfast is scheduled for Saturday, March 24th
from 8:30am to 10:30am. Residents who
attended last year raved about the food. Please feel free to contact Anne Inman
(317-504-9268 ) if you need a ride to the breakfast or would like to have
breakfast delivered. A volunteer would be glad to make this happen. A Men’s Breakfast at Emmy’s is scheduled for the 2nd Saturday each month at
9:30am. Mark your calendar for March
10th!
Architecture Committee: Several
residents have had new windows approved.
Average turn around for approval has been 12 days. Please contact Caroline King or PSG if you
would like to volunteer on the landscape committee this year.
Election Committee: As
stated in the January minutes, we have elections coming up for 2 open Board
positions (3 year terms each). If you
are interested in running, contact PSG no later than Saturday, March 10th. We would encourage you to submit a paragraph
or two about why you are interested in running for the Board to be included in
the election packet. Thursday, March 15th at 6:30pm will be a Meet
the Candidates Night. If you
have a question that you would like all candidates to touch on, please
call PSG by March 10th.
Clubhouse Committee:
The following reminders when renting the clubhouse:
· Arrange tables and chairs the way you
found them.
· Empty all trash bins including
bathrooms. Take trash bags with you.
· Mop the kitchen, entry, hallway and
bathroom floors.
· Contact Caroline King ( 317) 709-5905
at least 24 hours in advance of rental to pick up the key.
· Only a resident can rent the facility
and sign the contract. The resident must be present during the event.
Old Business:
Dawn Lowden (317)
414-9099 updated us on recent Waterford Lake’s home sales. Five units have sold for $150K or more in
recent months. Dawn has worked closely
with appraisers to increase the resale value by looking at comps outside of
Waterford Lakes.
New Business:
Suzie
Jamerson asked to be on the Agenda by contacting PSG prior to the meeting.
1. Suzie asked the Board to consider
dropping the $25 charge to rent the clubhouse a second day.
The Board had approved keeping the rental fee at $50/day with a $75
security deposit. If a resident would
like to rent the clubhouse the day before their event, the fee would be
discounted to $25. This was decided after discussing the clubhouse costs with residents
at the October and November meetings. It
was also decided not to rent the clubhouse to non-residents due to insurance
reasons. The cost to maintain the Clubhouse in 2017 was $4467 including upkeep
and utilities. Rental revenue for 2017
was $900.
2. Suzie brought up the issue we have
had with ice this year and would like to see the HOA pay to put down ice melt
from door to mailbox.
Larry Edwards reiterated that residents can call for
additional ice melt to be dropped off anytime.
Many residents don’t use the ice melt so we do not wish to waste
resources.
The Board discussed this further and will make volunteers
available to put ice melt down to the mailbox if a resident desires and has no
one to do this for them. Several residents
came forward after the meeting and volunteered to help. Contact Anne Inman (317) 504-9268 if you need
ice melt put down and we will orchestrate this effort. Amount
spent on snow removal/ice melt in January was $2278.
3. Suzie was concerned that residents
were feeling left out with the Social Committee Chairs putting on a private
“thank you for your support” lunch. She
commented that we all pay HOA dues whether we can attend a social event or not.
A resident mentioned that it would have been better not to imply a social
function for something like this as it gives the wrong impression.
The Board agreed. Since
this was funded solely with personal funds/contributions this was fine, but not
to do a private event under the name of social committee chairs moving forward.
Suzie’s point was well taken and lessons learned.
The Board and residents thanked the social committee for all
they have tried to do this past year.
The social/welcome committee spent $763 in 2017 for two breakfasts, four
special events and welcome gifts. These
events were made possible thanks to all the homeowners who made donations of
time, money and resources including decorations, food, baked goods, tents,
transportation, and announcement flyers.
Money left over from the social/welcome committee budget goes to the
clubhouse reserve fund for future renovations.
The idea of the social events is to
get to know your neighbors and have fun so that you do not take the association
life too seriously
(HOALeader).
Meeting Adjourned
Door Prize Winner was Anna Brown (new Lake View Court
resident). Congratulations!
Next HOA Board Meeting is March 15th at 6:30pm
Sincerely,
Board Secretary
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