Attendees: Cheryl Mitchell, Brad Hudson, Robert Lamontagne, Bob Wheatley, Tara Smith
1. Financial Report:
a. Current balance in checking account is $21,821.
b. CD deposit of $23,021 from checking. Total in CDs = $44,167.
c. Grass cutting averages $835/month
d. Lawyer’s fees, $250.46 for proceeding on homeowner lien for nonpayment
of assessment.
2. Reserve Study:
a. Bob Wheatley from The Wayland Group, LLC., who conducted the Reserve
Study for our community, reviewed the draft of the study. Some projects are
scheduled in the distant future, i.e. 2034. Several models were used to
prepare the Capital budget for the future projects. They will all be included
in the final report. Mr. Wheatley stated that he would prepare an extended
executive summary for inclusion in a mailing to the community. He is also
coming to the annual meeting to answer any questions that the community
may have concerning the study. One outcome from the reserve study will be
an increase in the yearly assessments. A discussion was held on whether
there should be yearly increases or do a five year average increase so the
assessments would remain constant for 5 years (this would include the rate
of inflation). This would allow for a fully funded Capital Budget. Mr.
Wheatley stated that it would be the responsibility of the community to
maintain the projection of the study.
3. Electrical boxes:
The president supplied the Delaware COOP the serial numbers of all the electrical boxes in the community for maintenance. They acknowledged receiving the information but stated that there was a schedule for preventive maintenance that they were required to follow. They did not supply any information as to when this maintenance would be performed.
4. Plantings:
Some of the winter damaged crepe myrtles have responded well to the
summer rain and sunshine. Possibly a trimming later this fall will bring some
of the plants back to a healthy form. It maybe possible to not incur additional
expenses for plantings. The trees at the entrance have been treated for bag
worms by RSC. Final invoice has not been received for this work yet.
5. Additional issues:
a. Complete Lawn Care will be contacted about the snow removal contract for
2015/16 winter season.
b. A discussion was held concerning the contents of the next quarterly
community letter.
The next board meeting is scheduled for August 13 at 5:00 pm. Contact a board
member if you plan to attend.