Kensington Estates HOA

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Friday, November 2, 2018

October 2018 Board Minutes


Kensington Estates Annual Meeting Minutes*
October 20, 2018
Plainfield-Guilford Township Public Library
The meeting was called to order by Russ Warren, Board president, followed by the pledge to the American flag. The minutes of the 2017 annual meeting were read by secretary, Linda Rasner. Linda Lee’s motion to accept the minutes with Russ Warren’s second to motion was approved.
Larry Edwards of Property Services Group addressed the work that had been completed in the neighborhood this past year, being the first year that they were employed as our management service. He mentioned future projects as well. His comments are addressed as follows:
·      Drainage concerns were addressed. Many homes’ drains were clogged, drain boxes broken, and drains locations hidden. These issues were addressed to prevent further damage to driveways, sidewalks, and porches. Drains were repaired and many were buried. PSG will continue burying the drains over time.
·       Expansion Joints in many driveways that were cracked have been filled to prevent breakage of driveways. This process will continue (60% done to date) as more caulking material becomes available for purchase.
·      Concrete repair/replacement of front steps (those identified to date) will be undertaken in the fall. This will be an ongoing process through the year.
·      Crawl space inspections found that most of the homes’ crawl spaces were dry with no significant problems overall. Those with sump pumps were checked and a report was given to each home owner. Any broken drain lines to the exterior were repaired.
·      Roof repairs were addressed. Valleys that don’t have proper slope had to be replaced with plywood. There remains flashing and sheeting work continues to be done. Efforts will be made to match colors of the vinyl as the product has naturally faded since original construction. Sheet metal work should be done by the end of the year.
·      Trees removal was completed, and the areas reclaimed.
·      Trees (12) were planted; Chanticleer Pear Trees and Red Maples. There are plans to do more in the future. The trees were obtained from Hobbs’ Nursery and were obtained at a good cost. PSG was pleased with the quality.
·      Kensington Estates entrance sign was painted, along with installing light boxes at the site.
·      Mailbox posts were painted as needed and the bases were wrapped with a protective material to prevent mowing damage.

Terry Abner’s concerns about his ongoing issue with repairs related to roofing was addressed by Larry and Russ. Larry will personally inspect these issues.

 OLD BUSINESS
Financial Report was presented by Susan Keene of PSG. Since October has not ended, figures were given as of September 2018. She said there were no cash flow problems, no accounts receivable problems, and that we were in “good shape.” We were able to make our scheduled monthly deposit of $3,300 to our Edward Jones Reserve Account, which to date amounts to $96,011.47. The Credit Union requires a Savings Account which contains $50.11 and our Checking Account to date has $20,233.47. Several residents have paid ahead their monthly fees. Our net worth is $136.241.29,
Regarding the 2017 budget, she reported that over budget items were additional driveway concrete and expansion joint repairs and additional tree removal.
Referring to the financial spreadsheet prepared by Don Owens, Russ stated that since 2015 our Edward Jones funds, have shown a net gain of $5,000. He emphasized that we have invested in “safe funds.” He showed some general projections of the amount of reserve funds we would need in the future to replace roofs, etc. He stated that we were on the right track and needed to continue to remember the necessity of saving for the future to offset any special assessments.
NEW BUSINESS
Pond Maintenance (periodic drain clean out) will be done by PSG in the future. We thank the KE residents who have undertaken this job over the years.
The Proposed Budget for 2019 was presented by Susan Keene, PSG. She explained any changes from the 2018 budget. There were no questions. The budget was approved after a motion by Phil Dungan and a motion second by Kathy List.
Outgoing Board member Carolyn Buzash Craig was presented a gift from the Board in recognition of her many years (11) of service to the residents of Kensington Estates as Board treasurer.
By acclamation, the following were approved as Board members for the coming year:
Russ Warren, Linda Rasner, Vicky Wilson, Jim Turpin, Terry Kennard
The meeting was adjourned after a motion by Phil Dungan and seconded by Lisa Abner.

Submitted by,
Linda Rasner, Secretary to the Board
*These minutes are not official until approved by the membership at the 2019 Annual Meeting.
They are presented currently for your information. Subject to change.