Waterford Lakes HOA Annual Budget Meeting
November 21, 2019 Minutes
Attendance: Board
Members (4) PSG (2) Residents (18)
Quorum Achieved
(More than 11# units represented)
Call to Order & Pledge of
Allegiance
August Minutes Approved
Treasurer’s Report through
October 31st (Don Ulrey):
Checking: $5476 Roof
Reserve: $89,402 CD/Money Market: $52,612
·
Year-end numbers will be provided at our next
Board Meeting in March.
Committee Reports:
Social
Committee: See Calendar of
Events Attached
Saturday, December 7th Holiday Open House at the Clubhouse 1-3pm
This was a big hit
last year so don’t miss this event! Eleven of our residents will be displaying
their talents and selling their crafts.
Finger foods will be provided.
Architecture
& Landscape Committee:
The Architecture
& Landscaping Guidelines have been updated and will be posted on
the website. Copies will be distributed
the first of the year.
If you would
like any small bags of salt delivered to your door contact Anne Inman
(317-504-9268) or Property Services Group.
We will plow snow this winter if accumulation on the roads is at least 3
inches. In addition, PSG will use snow
blowers to cut a path from your front door to your mailbox and in front of the
garage door. Our goal is to do this
prior to Mr.Sandavol plowing the
driveways.
A reminder, the
resident is responsible for the pipes between the meter and your home. We encourage you to carry Citizen’s
Utility Shield insurance policy @ $14.99/mo. to cover these
expenses. Unfortunately, over the years
many of our residents have experienced problems with their lines.
Clubhouse
Committee:
A Clubhouse
Rules and Regulations document was approved by the Board and will be posted
on the website and distributed the first of the year. This should provide answers
to your questions regarding clubhouse rental.
Rental Ban
Committee:
The Owner
Occupancy Amendment to the Declaration
of Covenants and Restrictions, approved by 80% of our homeowners, has
been signed and will be filed with the Secretary of State through our new legal
counsel Eads, Murray and Pugh. The executed document will be posted on the
website the first of the year.
Old Business: None
New Business: Presentation of the 2020 Budget by Susan Keene,
Property Services Group
·
The HOA fees will remain at $150/month for
2020. The Board is cognizant of the fact
that many residents are on fixed incomes.
·
Our Nationwide master insurance policy has
increased 1% ($2000) for next year.
However rates have increased 3%-4% nationally. We had a minimal increase due to the fact that
the Association is investing in the roofing project.
·
Legal expenses should be less with the Rental
Ban Amendment filed in 2019 and we experience very few collection issues.
·
The cost of roof repairs should continue to diminish
as a greater percentage of new roofs are completed. 22 buildings (44 units) have been completed
to date.
·
The Board has signed a contract with a new lawn
fertilization company Classic Lawn Care for 2020.
·
The Board has signed a new contract with ASAP for pond treatments and fountain
maintenance in 2020. ASAP has technicians
certified to work on the fountains we have in our community. This winter they will assess and hopefully be
able to repair the two fountains that are out in our large ponds. The budget does not cover the high cost of purchasing
new fountains while the roofing project is being completed.
·
We have increased the budget for exterior
building and common area maintenance due to our aging infrastructure.
·
We will make every effort to complete new roofs
on 6-7 more buildings in 2020. Keep in
mind $72,000 annually of our budget automatically goes into the roofing reserve
to pay for this project.
Budget Vote: The 2020 Annual Budget was approved
unanimously at the meeting.
Door Prize: Winner:
Sandy Exline (Crystal Court)
Meeting Adjourned
Respectfully Submitted,
Anne Inman, Secretar
Waterford Lakes HOA
Calendar of Events
Social Events
·
Saturday,
December 7th 1-3pm Holiday
Open House
Join us for Food, Talents & Crafts at
the Clubhouse
·
Saturday,
December 14th Lunch at the L.S. Ayres Tea Room.
The limo will leave the clubhouse at 12:30pm. Janell needs your $5.00 transportation fee by
November 30th.
·
Saturday,
January 11th Lunch at the Mayberry Café in Danville
Call or text Janell Miller @
317-506-0758 to make your
reservations.
Participants are to bring a $5.00 wrapped
gift for a special game.
·
Saturday,
February 1st Lunch at Dawson’s in Brownsburg
Contact Janell Miller for reservations.
·
Saturday,
April 18th Lunch @ Lavina’s provided by the Amish Lady
Call Janell for reservations. You don’t want to miss this great food!
·
Saturday,
May 16th Lunch at Rick’s Boatyard
Call Janell for reservations.
Open
HOA Board Meetings Scheduled
·
Next HOA
Board Meeting Thursday, March 19th
@ 6:30pm “Meet the Candidate Night”
·
Annual
HOA Board Meeting Thursday, April 16th
@ 6:30pm “Board Elections”
Announcements
We
will have elections for two of our Board of Directors positions at our April
Annual Meeting.
If you would like to be a candidate or
nominate a candidate, contact PSG by the 1st of March.
Enjoy your Secret Santa gift from a very thoughtful neighbor who wanted
to bring some Holiday Cheer to your home this Christmas!
