Meeting Minutes
Willow Lake Homeowners Board Meeting
April 28, 2017 11 am
Attendees: President R. Grasso, Treasurer K. Schisler, Secretary R. Lamontagne
Old Business
Financial Review:
The board reviewed 2017 receipts and expenditures. The Capital Budget reserves for 2017 will be current. Expenses are on track with the budget. It appears that we will have approximately $2,000 left at the end of the budget cycle; this is in line with the policy of wanting to maintain a 10% of the operating budget cushion.
There is one unpaid assessment. Homeowner has contacted board about payment. A partial payment has been made. The treasurer will continue dialog with homeowner.
The process of closing all accounts with PNC bank is almost complete. A small residual amount of funds has been left to pay the electrical bill. Money market funds and the checking account are now with the Bank of Internet. The community CDs have been transferred to 1st Internet Bank. We have received a partial monthly interest on our funds of $50.
Taxes have been filed. Presently we have an electronic payment account with the IRS for future payments.
The President, as well as the Treasurer, now has a debit card for community funds.
Woodlands Improvements
Zachery Ables had made a presentation to the board at the March 2017 board meeting regarding his Eagle Scout project at Willow Lake. Essentially the project consists of building a bridge across the egress of the lake, installing two benches and improving the trial in identified areas. There has been email correspondence since then. Several concerns still remain: what does the BSoA insurance policy cover (HOA has deck plate of BSoA but no particulars); safety and supervision plan ie work plan; what pieces are constructed off site; are parents of scouts notified about participation. A follow up with Zachery is in progress.
Swale Repair:
The repair to the bioswale between lots 9-10 has been completed. Damage did occur to the lawn of lot 9. Some topsoil needs to be spread to repair the damage and then seeded. The board will contact lot 9 homeowner for permission to do this work on the property.
The swale on lot 11 needs repair. The initial estimate was for 80 feet of swale repair. The board is investigating whether all 80 feet need to be repaired. This repair would be included as a budget item in the 2018 budget.
New Business
Audits:
Section 8.4 of the Bylaws state that the treasurer shall “cause an annual budget audit of the Association’s books to be made by public accountant at the completion of each fiscal year etc”. The board had a discussion about this topic at the last Board meeting. It was decided that the board would send an email to the community outlining what an audit would entail if a committee of homeowners (possibly 3 homeowners) would come forward to do the internal audit. A Bylaw change would be necessary for this type of audit. Depending on community involvement, a Bylaw change could be submitted for approval at the 2018 annual meeting.
2018 Budget:
It was decided that the board would walk the community to review the state of the capital assets to determine if any issues need to be addressed in the 2018 budget. This would also include items that are not classified as Capital Budget items.
The community insurance policy needs to be shopped to find the proper coverage at the best cost. Many insurance companies cannot insure our property because they are not backed by the State of Delaware for this type of insurance.
There is one area in the repaired roadway that needs to be reviewed by the paving contractor to ascertain if it is a problem.
Legal Matters:
There needs to be a Bylaw change in regard to when we hold our annual meeting and when the yearly assessments are due.
There was a discussion concerning trailers on properties. At this time of the year, trailers used to obtain mulch, move winter debris, and spring cleanup are present in the community. Trailers are not to be stored on properties. There is a short window of maintenance time for trailer use.
The board asks all members of the community to observe the 20 mph speed limit when entering and leaving the community.
The next board meeting is scheduled for June 16, 2017 at 10:00 am. Contact a board member if you plan to attend.