Woodbury Park Association Homeowner’s Annual Meeting

Held November 07, 2019

The Annual Meeting called to order at 7:35 pm.

The minutes of November 05, 2018 Annual Meeting were accepted.

A review of the Financial Reports occurred with the highlights shown below.

Accomplishments

· A tree at the south entrance was struck by lightning and destroyed. It was removed and replaced.

· The Newburg Rd lighting fixtures at the North and South entrances were inspected and cleaned. One of the fixtures on the South end was replaced.

· A section of the Newburg Rd berm had scrub bushes removed and re-landscaped.

· All mailboxes were cleaned and inspected. Two of the mailbox stanchions had brackets replaced.

· A special grub and anti-fungal lawn treatment was applied on the Newburg Rd berm.

· Three of the subdivision islands were updated. This included an inspection to determine the need. The layout was enhanced where appropriate. Six trees were removed and additional landscape installed. The rock was refreshed where needed.

· Three notifications of non-compliance with deed restrictions were written and sent to the home owners. All three have complied.

· An audit review of the subdivision financials was performed by the CPA firm CND. A clean report was presented to the board of directors and is available for any subdivision member wishing to review it.

· The 10 mph sign that was installed on Kingsburn and the salting of the corner has been effective. There were no reported incidents last winter.

Financial Report –.

· Profit & Loss Statement

o $28,790 membership dues were recorded. There are two delinquent households. Actual and forecast expenses totaled $43,602.

Balance Sheet as of November 06, 2019:

o $9,037 in checking account

o $30,126 in savings

Dues remain at $250.00.

General Comments/Discussions

Russ reviewed the financial statements which included individual expense items.

Actual and forecast expenses for 2019 totaled $43,602. The three island update of $14,779 was provided for by previous favorable cash flows. The 2019 budget performance was unanimously approved.

The 2020 Budget of $36,000 includes replacement of some of the sidewalk squares on Newburg Rd. The estimate for this repair is $8,000 and will be funded from cash reserves.

The 2020 Budget was accepted and approved.

Notices for dues payment will be sent at the end of January with a payment date of February 29, 2020.

An election for Board Members resulted in Jim Giordano as President, Larry Klemczak as Vice President, and Russ Flynn as Treasurer. Term of office is three years. 2020 through 2023.

There was an in depth discussion by the association members present regarding the enforcement of compliance to the deed restrictions and Association bylaws. In the end there was unanimous approval to proceed with civil action in the court system to remedy persistent non-compliance.  

There were 12 homeowners present forming a quorum. Thank you to all that took the time to attend the meeting.

There being no further business to discuss, the Annual Meeting was adjourned at 8:30 pm.

Board of Directors