- Opening of Business Meeting at 10:15 am
– Quorum established
– President’s comments –
– welcomed new homeowners, James and Carole Daffron
– Asked members present to retain all ballots until after the discussion on the ballot issues
- Lake Access Project
– Zach Ables made a presentation to the board in April 2017 proposing to do his
Eagle Scout Project on community grounds. His proposal was to install a bridge
over the overflow outlet of the pond; install three benches in scenic overviews;
mulch low lying areas of the pond trail and line those portions of the trail that are
not well defined. To date the benches have been installed; the bridge constructed
but not finished with the mulching and lining the trail yet to be completed. The
completion of the project is scheduled for the weekend of Nov11/12.
- Lake Water Quality
– The board contacted DNREC for help in evaluating the abnormal greenish color in
the lake. Ms. Stetzar from the Fish and Wildlife Division took water and floating
vegetation samples from various locations in the pond. The final report stated that
“Willow Lake has good water quality and with some active management should
provide the residents with a great amenity for many years to come.” Ms. Stetzar
stated that there was good diversity of macroinvertebrates such as multiple species
of dragon flies, water striders, beetles, etc. Our main problem is that the lake is
essentially a closed system with nutrients flowing in from lawns and other terrestrial
areas. The carp in the lake have removed the plant species that would have used
these nutrients in the form of growth. Consequently, the main plant life is
essentially three species of algae. The greenish color is due to these algae. The
algae can be controlled by reducing the nutrient runoff from adjacent lawns by
maintaining a three to five foot buffer of vegetation between the lake and the lawns.
– During the period from April 1 to June 5, 72 Canada Geese eggs were addled.
- Financial Overview
– Account Balances – The Treasurer reviewed the 9/30 account balances and discussed the move from the PNC accounts and CDs to the Bank of Internet and First Internet Bank. At PNC, our best rate was .4 % on a 36 month CD. In comparison, we are now earning twice that on our checking account and 1.25%, 1.5%, and 1.7% with terms of 12, 24, and 36 months respectively on our CDs. The PNC checking account was kept open with a small balance during the transition to the internet banks. This account will be closed in the near future.
– 2017 Budgeted versus Projected Operating Expenses – The Treasurer reviewed the projected 2017 operating expenses, which will exceed the 2017 budget as a result of the non-budgeted bio-swale repairs between lots 9 and 10. The bio-swale damage occurred just prior to last year’s annual meeting and consequently was not included in the 2017 budget; however, the need for the repairs was discussed during last year’s meeting. There was a surplus in the operating account at the end of 2016 which was used to fund the non-budgeted bio-swale expense, so we were still able to deposit the full amount to reserves in accordance with the 2017 budget/reserve allocation.
The Treasurer also discussed that more was spent this year than previous years to maintain the health of our trees. All the Maples had to be treated for scale, and 3 Pines were treated for a fungal disease. Costs for treatment and/or removal could continue to increase in future years as our trees mature.
It was noted that we were under budget for tax preparation as a result of the Treasurer preparing the tax returns gratis instead of hiring a CPA. The Treasurer will also prepare the returns next year.
– 2018 Budget – The Treasurer presented the 2018 operating and capital budgets. The operating budget line items and rationale for including swale repairs as a capital budget item were explained. In 2018, the roadside swale for Lot 11 will be repaired. This was identified as needing repair by the Sussex Conservation District in September 2016. The board will have the swales inspected every couple years, and additional amounts have been included in the reserve projection to hopefully cover the cost of any issues identified. Although the reserve projections include additional amounts for swale repairs, the 2018 reserve amount is slightly less than 2017 as a result of changing the interest rate assumption to be more in line with current earnings after restructuring our accounts. The Treasurer stressed that the reserve projections and the assumptions on which the projections are built need to be regularly monitored and adjusted as circumstances dictate.
– Assessment – This year’s assessment will be $485, due January 31, 2018. A reminder email will be sent in January. If payment is not received by the due date, interest will be assessed.
- 2017 Financial Review Committee Report
– Article XI of the Bylaws stated that “an annual budget audit of the Association
books be made by a public account at the completion of each fiscal year shall be
made …”. The board asked several community members to serve on a Financial
Review Committee to see if the review of the Associations books by them was a
viable option to having the review by a public accountant. This would allow for the
savings of $700/800 each year and also provide the community with an additional
level of transparency. Three community members: Luke Nyman, Gene McMillen
and Steve Kempe agreed to serve on the committee. If the committee decided that
it was a viable option, then a bylaw change would be voted on at the 2018 Annual
Meeting. The following is the opinion of the committee “It is the opinion of the
Audit Team that this process can be conducted by community residents. The
amount of transactions are not overwhelming and the available documentation is
sufficient to accomplish the audit in one or two meetings. The ability to work with
Microsoft Excel worksheets is extremely helpful to the process.”
- New Business
– The President reviewed the responsibilities of the Architectural Review, Lake, and
Landscaping Committees. The members on each committee were identified and a
request for new members was put forth. Ginny Morris volunteered for the
Architectural Committee.
- Nomination of Board Member
– Jean Lamontagne was nominated from the floor. She accepted the nomination.
- Bylaw Change Proposals
– The president reviewed each of the 4 Bylaw changes and explained why the changes
were deemed necessary by the board. Essentially, the changes to the Bylaws
codified the procedures/processes that are currently being used by the HOA.
- Voting For No
– Budget: 24 1
– Article III Eligibility for Office 22 2
– Article VII Assessment Due Date 23 1
– Article X Annual Meeting Date 25 0
– Article XI Financial Audits: 25 0
– Board position: Ben Ables – 11
Jean Lamontagne – 9