WINDRIDGE Annual Report. Windridge 2016 Annual Report

Transcription

1 WINDRIDGE 2016 Annual Report

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3 WINDRIDGE CO-OWNERS ASSOCIATION 5105 Hawks Point Road Indianapolis, IN BOARD OF DIRECTORS 2016 Rick Alexander Bill Pert Tom Eggers Eleanor Keppler President Vice President Treasurer Secretary LIAISONS Architecture Budget/Finance Communication/Marketing Bill Pert Karen Friss Vicki Eident Landscape Cathedral Human Resources Jane Loiselle Rick Alexander Rick Alexander Insurance Long Range Planning Maintenance/Grounds Bill Pert Eileen Scott Bill Pert Phi Kappa Psi Rules/Regulation Security Tom Eggers Eleanor Keppler Marion Dunson Social Vicki Eident Investment Tom Eggers EMPLOYEES Douglas Beyers Property Manager Darcy Heyerdahl Office Manager Javier Alvarado Maintenance Supervisor Efrain Romo Maintenance Office / Emergency windridgecondos@gmail.com /

4 Letter from the President: 2016 In January 2016, we welcomed Bill Pert and Ron Renner who were re-elected to the Board along with brand new elected members Vicki Eident and Eileen Scott. Also in January, our staff completed the transition from rented facilities on 56 th Street to our new office building and maintenance facility at 5105 Hawks Point Road. Several Windridge residents have utilized the conference room for meetings and group activities. In February, the Board tabulated the necessary two thirds vote from our residents to change our By-Laws to allow for investment of a portion of our capital reserve fund in assets yielding a higher rate of return than what we were receiving from commercial banks. An investment committee reporting to the Board has been established to achieve that objective. In March, Karen Friss joined the Board as a replacement for a current member who had resigned. Karen served as Board Liaison for Budget and Finance, and presented a top notch program at the October Town Hall meeting. At the Annual meeting in December, Windridge residents re-elected Tom Eggers along with new members Michael McCracken and Beverly Watkins to the Board. As I complete my seventh year serving as your President, I will continue to serve on the Board under the leadership of our new Board President, Eleanor Keppler. I want to express my appreciation to all Board members, support staff, and volunteers for their effort in service to our community. Douglas Beyers, Property Manager, Darcy Heyerdahl, Office Manager, and our maintenance team of Javier Alvarado, Efrain Romo, and Jason Flick continue to serve our neighborhood at the highest level of professionalism and service. Richard W. Alexander, President Windridge Co-Owners Association

5 Property Manager s Report: 2016 I would like to thank the community for their support and the opportunity to work as your Property Manager. The year 2016 was another busy year for the Windridge community. As your Property Management Team, we set goals based on the current and long-term needs and wants of the community. We review options routinely to improve services and control overall costs. Our Capital Accounts total was $623, These are the funds that will be used to replace our roads, roofs, and other major capital expenses planned in the future. The year 2016 was full of activity. We marked our first year in our new Community Building. The community used the building for board meetings, neighborhood activities, and several committee meetings. We continued the eight-year cycle for home siding repair and painted 30 homes. Thirty-four sidewalks and eight driveways were replaced. We replaced the landscape at our sign and entrance exposing our unique stone wall. A new lift station was installed and serves the residents on Fletcher Court. Drainage projects were completed on Greenwillow Road and Hawks Point Road will also be busy. We will repair siding and paint thirty-four homes. We will replace a limited number of sidewalks and drives. We will also continue our maintenance schedule to seal asphalt drives. We will also continue to remove ash trees that have been infested with emerald ash borer disease. Windridge is a beautiful and unique community. It is a quiet, wooded sanctuary that is a wonderful place to live. To maintain our community, it takes everyone s cooperation. This goes beyond just paying fees. It includes volunteering, attending community gatherings, and supporting the Board of Directors. As Property Manager, I look forward to working with you and the Board of Directors to maintain and improve the community. Sincerely, Douglas Beyers Property Manager, Windridge Co-Owners Association

6 CAPITAL REPLACEMENT RESERVE: 2016 In 1982, the Windridge Board was informed that the Horizontal Property Regime Act requires every condominium co-owners association to establish a Capital Replacement Reserve. A section of the Act is quoted as follows: Sec. 22-(a)-[Co] Owners are bound to contribute pro rata, in the percentages computed according to section 7 of this chapter, toward the expenses of administration and of maintenance and repair of the general common areas and facilities, and in the proper case, of the limited common areas and facilities of the building, and toward any other expense lawfully agreed upon. (b) No co-owner may exempt himself from contributing toward such expenses by waiver of the use of enjoyment of the common areas and facilities or by abandonment of the condominium unit belonging to him. (c) All sums assessed by the association of co-owners shall be established by using generally accepted accounting principles applied on a consistent basis and shall include the establishment and maintenance of a replacement reserve fund for capital expenditures and replacement and repair of the common areas and facilities, which fund shall be used for those purposes and not for usual and ordinary repair expenses of the common areas and facilities. This fund for capital expenditures and replacement and repair of common areas and facilities shall be maintained in a separate interest bearing account with a bank or savings association authorized to conduct business in the county in which the horizontal property regime is established. Assessments collected for contributions to this fund may not be subject to Indiana gross income tax or adjusted gross income tax. (As amended by Acts 1977, P.L. 308, Section. 30.) After careful consideration, the Board of Managers of Windridge Co-Owners Association adopted the following resolution: Whereas, the Indiana Horizontal Property Regime act mandates that every condominium homeowners' association establish a capital replacement reserve to provide a reserve fund for future replacement of capital assets of common properties, Now, therefore, be it resolved that: There is established a Windridge Co-Owners' Association Capital Replacement Fund to provide for future replacement of common properties; That in 2016, a sum equal to 30.9 percent of the assigned monthly assessment for each Windridge owner be deposited in the Association's Capital Replacement Fund; and that the money in this fund shall not be co-mingled with the general assessment fund nor used to pay any expenses for the operation and general maintenance of the common properties.

7 Balance Sheet As of December 31, 2016 Actual as of Actual as of Oper Fund December 31, 2016 Dec 31, 2015 Reserve Fund Total Total Assets Cash 70, , , ,266 Rent Investments 33,241 33,241 16,160 Reserve Investments 249, ,559 0 Reserve Unrealized Gain/Loss on Investments (5,651) (5,651) 0 Assessments Receivable 11,209 11,209 17,042 Other Receivable 15,322 15,322 5,770 Prepaid Expenses 22,756 22,756 5,219 Property, net of accumulated depreciation 221, , ,173 Community Building reimbursed due from operating fund 187, , ,228 Liabilities Total Assets 340, ,591 1,151,467 1,230,858 Accounts Payable 40,051 40,051 48,066 Accrued Expenses 10,224 10,224 42,600 Prepaid Assessments 2,930 2,930 2,844 Community Building reimbursed due to reserve fund 187, , ,228 Total Liabilities 240, , ,738 Fund Balances 100, , , ,120 Total Liabilities & Fund Balances 340, ,591 1,151,467 1,230,858

8 Profit and Loss Budget vs. Actual January through December Actual 2016 Budget Over/ (Under) Operating Fund Reserve Fund Total Total Budget Revenue Regular Assessments 658, ,000 1,008,869 1,008, Water & Sewer Assessments 124, , ,500 0 Special Assessments 100, , , Rent Investment Income Reserve Investment Income 1,418 1, Phi Psi Reimbursement 13,668 13,668 12,445 1,223 Total Revenue 797, ,492 1,249,529 1,246,865 2,664 Expense Grounds Maintenance 3rd Party 191, , ,150 14,292 Building Maintenance 3rd Party 83,211 83,211 52,600 30,611 Major Repairs/ Replace -3rd Party 527, , ,000 96,607 Maintenance Supplies 7,189 7,189 11,700 (4,511) Salaries & Wages 203, , ,637 (17,528) Payroll Taxes 23,678 23,678 24,235 (557) Water 39,869 39,869 52,500 (12,631) Sewer 62,757 62,757 72,000 (9,243) Insurance 80,250 80,250 83,500 (3,250) Legal & Professional 13,351 13,351 31,500 (18,149) Security Expenses 9,306 9,306 12,600 (3,294) Office Expenses 26,148 26,148 22,360 3,788 Rent Budgeted 16,500 16,500 16,500 0 Bad Debts ,000 (5,935) Depreciation 3,537 3,537 3,537 Total Expense 760, ,607 1,288,018 1,214,282 73,736 Other Income Interest Income Miscellaneous Income 1,957 1,957 1,957 Investment Expense (1,875) (1,875) (1,875) Total Other Income Revenue over (under) Expense 37,414 (75,115) (37,702) 32,583 (70,285)

9 SECURITY REPORT: 2016 Marion Dunson Liaison Purpose: To monitor and address the security needs of Windridge, including security systems, gates, fences, and the community s sense of security with guests, contractors, and nonresident traffic. There were a few break-ins during 2015, and even fewer in This was due to many safeguards that were put in place. The safeguards were as follows: Neighborhood watch group More lighting Clearing of known hiding places for potential burglars Greater interface with police officers at the Northside District. It is important to continue with these safeguards, as we strive to keep Windridge one of the safest places to live in Indianapolis. INSURANCE: 2016 Bill Pert Liaison Director Purpose: To develop and implement policies and procedures that minimize adverse effects of losses specified in the associations Declaration of Horizontal Property Ownership. The coverage provided to our owners, in the name of the Association, has been renewed with Travelers Insurance Company. Our insurance agency, Gregory & Appel, coordinated a favorable renewal for us with NO premium increase for In order for this to be facilitated, Travelers asked that the BOD formulate and implement a policy for homeowners to observe when using BBQ type grills around their units. This policy was developed in December 2016 and approved during the January 2017 meeting. The details of this policy were distributed in February, highlighted in the Spring 2017 newsletter and posted on our website. In 2016, we experienced several weather-related events that were of an insurance nature. July brought a rare rain event reported to have been 4 in less than two hours, seven units experienced mild to major damage due to the drainage of this massive amount of water in a very short period of time. Unfortunately, the cost to repair the damage was less than our flood insurance deductible; consequently, we had to use association funds. In August, a wind and rain storm came through our property. Several large trees were toppled and many, many limbs came down, due to 60+ mph winds. At least eight of our units experienced roof and water damage. Thanks go out to Windridge staff for their quick actions to help mitigate the cost of damage. During the storm, they removed limbs, covered damaged roofs with tarps and quickly cleaned up the grounds collecting truckloads of debris. Additional outside help was also brought in to quickly repair these units roofs. Our insurance helped to cover much of this expense, however unfortunately, not all of it. As always, residents and owners are encouraged to review their personal insurance packages (HO6), to ensure that adequate coverage is in place in the event of a loss. From year to year, values can appreciate and new purchases of personal propriety can significantly increase replacement costs.

10 LANDSCAPE & BEAUTIFICATION: 2016 Jane Loiselle Liaison Director Thank you to all of our residents, the many, many resident volunteers and to Doug Beyers and our staff. Purpose: The goal is to make our community attractive for residents and guests and appealing to the eye for potential residents. Maintenance, Security, Communication & Marketing worked together with Landscaping & Beautification to set priorities. Property Manager Doug Beyers has been instrumental in coordinating all of our new and ongoing projects, which included: Provide year-round color Rid Windridge of invasive species primarily Asian Honeysuckle Continue to remove diseased ash trees Update the front gate & sign areas with attractive new trees, shrubs & colorful plants Update the new office area with colorful shrubs and trees Maintain two wild flower gardens of native plants, which also reduce lawn mowing Trim foundation bushes below windows & around garage lighting Remove and replace dying ornamental trees Do a major trim of undergrowth along our property line with Cathedral In 2017, we plan to continue updating with the addition of three new major projects: Develop a yearly plan to replace trees and ornamental trees using reserve funds. Plant the second phase of a shade garden on Whisperwood just past Thicket Hill. Plan, develop, and plant a new butterfly garden, possibly on Hawks Point Rd. Many volunteers continue to maintain our beautiful corner gardens located at most major intersections. With plenty of rain during the summer months, our grass and neighborhood looked splendid this year. Many residents (20+) also completed several landscaping projects to update their foundation planting and to add new garden areas. These additions, along with residents who always plant colorful annuals in their yards, made our community very appealing to potential residents, visitors and residents alike. Take a walk on Fall Creek trails and visit Millersville beautiful Statue

11 BUDGET AND FINANCE: 2016 Karen Friss Liaison Director Purpose: Recommend to the Board of Directors an Annual Budget of revenue sources and the expenditure of those funds. Owner volunteers serving on the committee were: Jim Higgs-chair, Charles Boyle, Bonnie Chastain, Dan Evard, Mike Spalding, Beverly Watkins and William Wrege. Director Karen Friss, served as Board Liaison; Property Manager Doug Beyers provided the committee with financial information and a budget proposal; Treasurer Tom Eggers, Long-Range Planning Liaison Eileen Scott, and Landscape Liaison Jane Loiselle advised the committee. 1. The committee organized in July with an orientation session for a new member. In early August, the committee met with Beyers. He reviewed the financial reports for the first six months of 2016 and estimated spending forecast for the remainder of the year. Based upon the current financial reports and projected needs, Beyers proposed a budget for Directors Tom Eggers and Eileen Scott shared background information and insights. The committee compared the 2017 proposal with the 2016 forecast. 2. During the next meeting the committee focused the discussion upon the priority issues. Landscape Liaison Jane Loiselle, discussed the impact of this priority. The committee explored ways to solve the dilemma of prioritizing staff and financial resources as they relate to infrastructure needs versus grounds keeping and beautification needs; and avoiding an increase in the forecast dues. Due to budgeting constraints the committee tabled the issue pending further review. 3. At the September Regular Board meeting, the committee recommended that the Manager s proposed budget be approved but encouraged the Board to reconsider the landscaping needs. After a discussion of the committee s procedures, recommendations and frustrations of not having sufficient funds for desired landscaping investments, a Board subcommittee of Friss, Alexander, Loiselle, and Eggers was appointed to meet with Higgs and Beyers to examine the priorities for the operating funds for the proposed budget and suggest a solution. 4. At the October Regular Board Meeting, Friss presented and the Board approved an adjusted budget proposal that addressed the earlier concerns without increasing the dues or increasing the risk of meeting the budget. 5. The Board-approved budget was presented to the Owners with time for questions and answers at a November Town Hall meeting. Owners voted to adopt the Board s proposed budget at the Association s Annual Meeting in December. The 2017 budget does the following: Funds one new maintenance staff member. Covers the estimated City water and sewer rate increases of $27,000. Includes landscaping funds from the reserve fund for trees and from the operating fund for bushes and flowers. Incorporates many small savings to offset most of these increases. Eliminates the special assessment. Increases the regular assessment to meet the costs of planned spending (but the new regular assessment is less than the past year combined regular assessment plus special assessment).

12 INVESTMENT COMMITTEE: 2016 Tom Eggers Liaison Director Purpose: To monitor and plan for Windridge s long range funding needs for the Reserve Fund. This committee coordinates with the Property Manager to project expected expenditures for Major Repairs and Replacements in future years. The committee then develops plans for funding those expenditures, and for investing a portion of the Reserve Fund amounts until they are needed to finance the expenditures. Our Reserve Fund is used to pay for Major Repairs and Replacements in the current year and also must be adequate to pay for major needs in future years, such as repaving roads and replacing roofs. Our Reserve Fund balances have been increasing to the point where we have opportunities to invest a portion of the assets for a greater return. The Investment Committee was established in 2015 for the purpose of reviewing the possibilities for potential investments. The committee determined that our By-Laws would have to be changed to give the Board more flexibility in considering alternative options for investment. The prior By-Laws limited the investments to interest-bearing accounts with banks or credit unions. The change in wording authorizes that a maximum of 50 percent of the Reserve Fund can be placed in other investments. The wording change was approved by our owners in the December 2015 Annual Meeting. The By- Law change required written approval by twothirds of the owners and that was achieved by the end of February To determine the appropriate levels of investment, the committee reviewed the long- range forecast of expenditures and fund balances over the next 20 years. Then, in considering investment options, the committee met with three investment managers. As a result of their research the committee recommended to the Board that we invest in two bond funds. The Board approved the recommendation and the investments were executed in August and September LONG-TERM PLANNING: 2016 Eileen Scott Liaison Director Purpose: To monitor and plan for Windridge s long-range funding needs for the Reserve Fund. This committee coordinates with the Property Manager to project expected expenditures for major repairs and replacements in future years. The committee then develops plans for funding those expenditures, and for investing a portion of the Reserve Fund amounts until they are needed to finance the expenditures. Long-term planning for 2016 focused on consideration of the gates. This project was begun with a proposal to convert the South Gate to the main gate. The change in the traffic patterns on Emerson Avenue that created turning lanes into this gate were a prerequisite step. The project considerations were expanded to consider other problems related to the gates and traffic patterns. A report was made to the Board evaluating three options. The board decided that wider input from the community was needed and a special meeting of the board was convened to which all owners were invited to discuss the proposed options. The option to consider opening the gates during specified hours with video monitoring was rejected for security reasons. The decision was made to ask Doug to obtain design proposals for gate configurations. Proposals have been submitted and are being evaluated by a long-term planning group including board representatives and community members. The budgetary implication of implementing any of the proposed solutions is a critical concern to be addressed.

13 SOCIAL COMMITTEE: 2016 Vicki Eident Liaison Director Purpose: To plan, prepare, produce, publicize and oversee various activities and entertainment events for participation and enjoyment of the Association s residents and their guests. Many residents celebrated the grand opening of the Community Building by attending the spring picnic. Our staff and several homeowners who were instrumental in successfully planning and executing the project were recognized. In addition many residents turned out for the fall wiener roast and the social following the annual meeting. Taking advantage of the community room for meetings this year were the Monday book club as well as Mah Jongg, and bridge groups. Other popular activities in Windridge include Wine Time, Dine Around, and Cheap Eats. Several book, craft and game clubs, meet in small groups to socialize. COMMUNICATIONS AND MARKETING: 2016 Vicki Eident - Board Liaison Purpose: To implement and sustain a comprehensive communications and marketing program which ensures each party with a vested interest in the Association receipt of information pertaining to its affairs. Website: This year there were several changes and additions to the Windridge website. In order to better disseminate information to owners, a password-protected page was added to the website that allowed posting of information in a more secure manner. In this area, the monthly minutes and other items include resident information which is not available to the general public. The public pages continue to provide information to those who may consider purchasing a home in Windridge. Access to our Guidelines, By Laws and Rules allow them the opportunity to understand the responsibilities of living in our co-owner community. In addition, the listing of homes for sale is a wonderful marketing asset. The ability to file landscape and architectural requests as well as work order requests was made possible through the website. Residents are encouraged to use this dynamic resource which streamlines communication with the office. Great appreciation goes to Rob Bohn, Tom Ulsas, and Tom McNulty for the effort put into creating the original WordPress website. In order to maintain security and reliability, is now managed and monitored by Aslan Interactive, Inc., a custom web development company. Content of the website continues in the capable hands of Jane Loiselle. Residents are encouraged to frequent the website. Notices: Urgent information is sent in which is generated from the office. Due to increased usage of smart phones, ideas under consideration for more timely communication are social media and text messaging. The information tubes will continue to be used occasionally since some homeowners do not use electronics. Newsletter: Many thanks to Kathleen Roman for proposing and executing the first edition of the Windreader newsletter. This digital format of information about people and topics of interest to residents in Windridge will be issued several times each year. Kathleen appreciates input and assistance from residents.

14 ARCHITECTURE: 2016 Bill Pert Liaison Director Purpose: Evaluate resident requests and make recommendations to the BOD for additions, alterations, or replacements to any structural component or exterior surface of their units. the BOD. This sped up the approval process for owners. Requests can now be submitted at any time during the month with a goal of approval within one week. This new procedure does require a 9-0 board approval. Lacking that discussion MUST be held at the next meeting to insure that all positions are considered. During 2016, there were 29 total requests by residents to make alterations or additions to their units. Most all were approved as submitted. Only a few needed slight adjustments and/or compromises to reach a consensus that could be approved, under our existing guidelines and regulations. WINDRIDGE COMMUNITY BUILDING Requests fell into the following categories: 9 sliding patio doors 6 deck repair and/or replacement 3 front or storm doors 2 garden replacement windows 1 stain privacy fence 2 garage doors 2 security/garage coach lights 1 patio replacement 1 skylight In June, the BOD adopted a Hold Harmless Agreement that enabled homeowners to utilize non-licensed people to complete projects, i.e. friends, family or themselves. This protects the WHOA in case of accident or injury claims, as well as potential damage to commonly owned property of the association. The signing homeowners accept the liability for these projects/workers, should it become an issue. Most all of this year s architectural requests were handled via between members of

15 RULES AND REGULATIONS: 2016 Eleanor Keppler - Liaison Director Purpose: To review, maintain, modify, prepare and publish accurate copies of all the corporate documents for the Windridge Co-Owners Association, Inc. Windridge Owners voted by over seventy percent to amend the By-Laws to allow the Investment Committee to invest up to fifty percent of the Capital Reserve funds in order to earn a higher return on the money. When this change was voted upon, the By-Laws were updated to more clearly define some of the authorizations, duties, and responsibilities without making substantial changes. The amended By-Laws were reviewed by our attorney and registered with the State of Indiana and Marion County. They will soon appear in Corporate Documents under the Useful Information tab on the on the website. The committee worked to implement the 2015 State of Indiana law regarding Grievance Resolution for Condominium Associations/Homeowners Association. Procedures were adopted, sample letters were written, and a timeline for implementation was developed. The process is being used to inform Owners of covenant violations. Owners have responded with compliance. The committee revised the Windridge Owner s Manual to update the document and make it easier to read. The new manual, titled Introduction to Windridge is given to new residents. A copy will be distributed to all residents and added to the website. Previous copies of the Windridge Owner s Manual may be discarded as it contains old information and is obsolete. CATHEDRAL HIGH SCHOOL: 2016 Rick Alexander - Liaison Director Purpose: To maintain and foster a communications dialogue between Cathedral High School administrators and the Windridge Co-Owners Association. Windridge has an ongoing lawsuit against Cathedral High School pertaining to a common drainage pipe that was damaged during construction of a softball field. Legal counsel anticipates that a favorable resolution to this lawsuit can be achieved in PHI KAPPA PSI: 2016 Tom Eggers Liaison Director Purpose: To maintain and nurture a cordial, cooperative relationship with the Phi Kappa Psi owners of Laurel Hall. Our relationship with the Phi Kappa Psi National Fraternity, owners of the Laurel Hall mansion, is excellent. They have shared their facilities with Windridge for our November Town Hall meeting and our December Annual Meeting. We have likewise shared our facilities with the Phi Psis. Their management group has held meetings in our new Community Building. The Phi Psi s invited the entire neighborhood to an elegant Holiday Celebration event in December. Their warm hospitality included an outstanding array of food and drinks, and tours were given of the beautifully decorated mansion. Windridge residents were most appreciative to have been included in this special event. We value the Phi Psi s as excellent neighbors and look forward to continuing our outstanding relationship.

16 CELEBRATING RESIDENTS IN MEMORY 2016 Judy Bowen Ed Butz As we remember our neighbors Dr. Albert Blake Mike McCune Joe Bill Virginia Kelly Keith Bronnenberg Billy Moore Tom McCoy John Thompson Sara Pickle Kennita McGeath Dave Williams Kenneth Rice The happiest people I know are people who don t even think about being happy, they just think about being good neighbors, good people and then happiness sort of sneaks in the back window when they are busy doing good. Howard S. Kushner Random Acts of Kindness

17 WINDRIDGE CO-OWNERS ASSOCIATION 5105 Hawks Point Road Indianapolis, IN BOARD OF DIRECTORS 2017 Eleanor Keppler Vicki Eident Tom Eggers Jane Loiselle President Vice President Treasurer Secretary LIAISONS Architecture Budget/Finance Communication/Marketing Bill Pert Beverly Watkins Jane Loiselle Landscape Cathedral Human Resources Vicki Eident Rick Alexander Eleanor Keppler Insurance Long Range Planning Maintenance/Grounds Michael McCracken Eileen Scott Bill Pert Phi Kappa Psi Rules/Regulation Security Beverly Watkins Eleanor Keppler Michael McCracken Social Victoria Eident Investment Tom Eggers EMPLOYEES Douglas Beyers Property Manager Darcy Heyerdahl Office Manager Javier Alvarado Maintenance Supervisor Efrain Romo Maintenance Jason Flick Maintenance Office / Emergency windridgecondos@gmail.com /