Kensington Estates HOA

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Tuesday, October 8, 2019

Kensington Estates 2019 Annual Meeting

                                                                   Kensington Estates Annual Meeting
September 21, 2019  ~ 1:30pm  ~   Plainfield Public Library
It was determined that a quorum had been met and the meeting could take place. Russ Warren, president, led the pledge to the American flag. He gave opening remarks and followed the agenda that had been given to owners previously.
The 2018 Annual Meeting minutes were read and approved by motion from Phil Dungan; second by Linda Lee.
Financial Report was given by Susan Keene of Property Services Group. Due to the early meeting date, she presented numbers as of August 31, 2019.
·       Total Assets were $151,336.63
·       Indiana Members Credit Union Checking   $21,277.74
·       Indiana Members Credit Union Savings      $50.22
·       Edward Jones  $136,908.67
·       Accounts Receivable (Maintenance Fees)   ($6,900.00) Some residents have paid HOA fees in advance.
·       Outstanding Checks to date: lawncare for $1,300
Susan further explained that because of our tax-exempt status, the interest gained on the EJ account avoided the normal 30% tax rate that would be incurred by an individual.
Susan then presented the past year’s budget and total expenditures.  The bottom line is that finances for the years exceeded money spent by $19,000. Because driveways were a non-budgeted item, we exceeded (overspent that area) by $6,000. The budget area of mulching exceeded budget by $1,553 because we mulched additional areas that had not been done before. She said that in the coming year we needed to revert to previous plan of mulching only the fronts, giving the homeowners the option of having other areas mulched at their own expense. The pond was on budget while mowing and snow removal were under budget. We were somewhat over budget on landscaping, for that was a ‘catchall’ area related to the ‘common areas.’
After discussion, it was decided that PSG will prepare end-of-the-year financial statements and mail to the residents.
Susan was complimentary on the financial status of KE in comparison to other condo communities. She stated that good planning, the Board’s foresight and management execution were responsible.
Larry Edwards  of Property Services Management Group discussed the maintenance issues accomplished in 2019. Major drainage issues (more expensive) had been addressed the previous year, so this past year saw more day-to-day maintenance issues—replacing fascia/flashing after storms, spraying of nuisance weeds, clearing drains, caulking expansion joints in concrete, trimming low-hanging trees, clearing storm drains, maintaining downspouts, soil and seed places where trees had been removed, Christmas decorations at entry, and finally assuming the job of removing snow from porches and steps. This was previously done by the snow removal company who serviced the community.
Investment and Reserve Fund were presented by Russ Warren.
Russ explained the spreadsheet for future capital project needs and how we could be increasing our long-term savings to fund these projects as they became necessary. The information on the spreadsheet came from a condo management website. This plan and the 2020 budget are attached to these minutes. By maintaining the same monthly fee per residence, we could increase our monthly contribution to the Edward Jones account to $4,000 per month as opposed to the present $3,300 per month. The $3,300 monthly contribution has existed for many years. Our HOA monthly fee has been $180/month per resident for five years.
Russ also said that our investments were set as conservatively as possible, and we had made 8.72% interest gain this past year.
There was no action taken on any matters in OLD BUSINESS.
Comments from Residents:
·       Terry Abner requested that PSG do any pond maintenance that the residents had been doing on a volunteer basis. He specifically addressed that the pond drains needed attention after every major rain.
·       Also sticks needed to be picked up, rather than the mowing crew ignoring them and mowing over.
·       Jim Copeland also requested clarification on who would be responsible for cleaning leaves from the gutters in the fall. Larry Edwards said that PSG would clear the gutters.
The 2020 budget was presented by Russ Warren, president and Susan Keene, PSG. After a thorough discussion, the budget for 2020 was approved as presented by the entire body of residents. Voting was done by a show of hands. No opposition was expressed. The 2020 budget was adopted.
Election of Officers
·       Because of Russ Warren’s vacancy left at the end of this year, one person was to be elected to fill this position. Ballots had been prepared for voting for one person, with Ted Dowden and Susan Poland
listed as candidates. (One ballot per household.)
·       The president told the secretary to add Vicky Wilson’s name to the ballot as well, as Jim Turpin challenged Vicky’s length of term, stating that she must face election this year, that her term was up.
There were no records available at the time to check the validity of the challenge. Rather than delaying the election, voting proceeded with the residents directed to select two of the three persons listed.
·       Ballots were counted by Susan Keene and Phil Dungan. The results were as follows:
Susan Poland 28; Ted Dowden 22; Vicky Wilson 22. Susan Keene said that Indiana State Law allowed for there to be up to eleven members of the community board. KE will have a six-member board at the present time, rather than five as covenants state. State law trumps covenants.
Additional Items
·       Kingsway/Saratoga Update : Carolyn Buzash Craig had attended the Plainfield Board (Planning Commission) planning meeting recently and reported that Kingsway has opted to not proceed with their construction as their plans had been rejected by the Commission due to chosen materials and appearance. Jack Craig had taken neighbors’ concerns to the Town of Plainfield regarding the unmowed land parcel. The officials told him that Kingsway would be notified and that if they did not mow the lot, the town would have it mowed at Kingsway’s expense.
·       Fall Picnic:  Residents were given the opportunity to sign up for the upcoming picnic on Sunday, Oct.13.
·       Thanks: The residents in attendance thanked Jane Teliha and Terry Kennard for a beautiful front entrance to KE. Residents were also appreciated for acts of “volunteerism” in our neighborhood, picking up sticks and trash, extra landscaping, etc.  The residents are appreciative.
The meeting was adjourned.
Linda Rasner, Secretary to the Kensington Board

(Note re: election. At this writing, research into the questioned term was done. Findings were that Vicky Wilson had one year left on her term at the 2018 annual meeting and was further approved for another two-year term by acclamation. Accordingly, her term expires 2021.)
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