Waterford Lakes Homeowners Association
Annual Meeting Minutes & News April 19, 2018
Attendance: 25 residents, 4 Board Members, 2 PSG
Call To Order: 6:30pm
Pledge of Allegiance
Approval March Minutes
Treasurer’s Report: Don Ulrey presented the financials
through March.
Checking
Account: $47,514
Roofing
Reserve Fund: $92,775 (Paid in full roofing materials for 7 units- $47,228)
Certificate
of Deposit: $51,282
Profit
& Loss: $14,881
% of
Budget Spent to date: 10%
Committee Reports:
Social Committee: The
Biscuits & Gravy breakfast was very well attended even with all the
snow. Thank you for making it a success.
Yum Yum!
Welcome packets and gifts were
delivered this month to 3 new residents.
Mark your calendar for the Men’s
Breakfast at Emmy’s Saturday, May12th at
9:30am.
June 23rd will be the
next women’s lunch. Contact Janell Miller to RSVP at 317-506-0758.
More community social events are to
be announced in the near future.
Clubhouse Committee:
We are currently receiving bids for painting the clubhouse walls and
ceiling as the first step in updating the clubhouse.
Architecture & Landscaping Committee: River rock for the south entrance and mulch
for the shade garden will be put down the weekend of April 28th by
Mr. Sandavol.
The new fountain has been ordered
for Pond #2. Cost for the new fountain is $3500. Cost for fountain storage and maintenance
estimated to be $1500 annually. And, fountain electricity runs about $2500 per
year. The fountain at Pond #4 (large
pond) is continuing to trip out. Growing Image is working to analyze the
problem and cost to repair.
Due to the very wet winter
residents are noticing more chick weed this Spring. The 1st & 2nd lawn
treatments include a broadleaf weed killer and fertilizer. The second treatment will be applied the end
of May.
A special thank
you to the volunteers who continue to pick up trash along Dan Jones Road
and around the ponds. It seems like the
trash pickup days have been extremely windy.
Do your best to secure your trash. If you need help picking up trash in
your yard or changing a light bulb contact Anne Inman (317-504-9268) and we
will send a volunteer to your home.
Old Business: Snow Removal.
PSG will be
getting bids for snow removal next year. Guidelines for snow removal were
discussed by the Board that PSG will communicate and specify in the bid. You will be seeing more information on this
topic in the Fall. We will take into consideration your feedback and
suggestions to improve this service.
New Business:
1.
By acclamation Maggie Jones and David Richardson
were re-elected to the Board of Directors.
Officers will remain the same: Maggie Jones President, Caroline King VP,
Don Ulrey Treasurer, Anne Inman Secretary.
2.
Randy Geyer, our HOA insurance agent with
Nationwide, made an educational presentation with a Q&A. Takeaways from the discussion include the
following:
·
Our HOA has done a good job over the years
managing our losses.
·
The HOA Policy insures “walls in to original
specifications and current code.”
·
This means if you have made any
additions/alterations to your residence you should provide your insurance
company with a record of these upgrades with receipts. This includes your windows, doors, furnace,
air conditioner, water softener, appliances, flooring, trim work, decks, cabinets,
counters, toilets, light fixtures, etc.
You should have what is called an HO6 Policy (condo) and not a HO3
Policy (homeowners) or renters insurance.
Randy recommends you setup a care review with your insurance agent.
·
It is recommended that you carry a minimum of
$300,000 liability in your HO6 policy. For example, if you started a kitchen
fire and burnt down the unit, you would be responsible.
Door Prize Winner: Richard Conway won a Starbucks gift card.
Reminders:
1.
Next HOA Board Meeting scheduled Thursday, May
17th
2.
West 10th Street (100 N) just west of
Ronald Regan will be closed April 23rd for a culvert
replacement. Estimated to be a 45 day
closure.
3.
100N & 900E to be closed starting June 4th
for a roundabout. Estimated 70 day completion
timeframe.
4.
Be aware of contractor scams or anyone saying
they are with the property management company (PSG). Be suspicious; ask to see their
identification; do not invite inside; and call PSG at 317-837-9860 to
verify.
Respectfully,
Anne Inman, Secretary
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