WPA MONTHLY MEETING MINUTES
January 17, 2023
Call to Order –Joe Myers
Attendance –, Joe Myers, Bob Ramsey, Valerie Cooper,Stan Earnhart, Ken Gaspari, Bob Ramsey , Dave Decreny, Valerie Cooper, Meredith Marsh
Absent– Jonathan Rutstein, Trina Davis
Quorum – Yes
Approval – Motion to approve December 20, 2022 Minutes made by Bob Ramsey. Motion seconded Ken Gaspari. All in favor. Motion carried.
Resident Speaker– none
Officer Reports
Presidents Report –No report
Vice Presidents Report – No report
Secretary’s Report– Bob Ramsey reports, He is working on publishing the new ARC policy approved on May 9th, 2022. The edit is more than 50% complete.
Treasurer’s Report– Valerie Cooper reports, As of December 31, 2022, our Operating Account with South State had a balance of $124,719.18. Our Debit account with South Atlantic had a balance of $1595.32. The ARC Escrow account with South Atlantic had a balance of $69,785.64 with refunds totaling $3,500. The reserve account balances are South Atlantic $49,088.22, Edward Jones $275,890.18, TD Bank $223,889.54 and Anderson Brothers $100,050.00.
Committee Reports
ARC– Ken Gaspari reports, He has approved 2 sheds, 1 tree removal, 2 fences and 1 driveway extension.
Bob Ramsey reports, He has received two permits for new homes.
Legal– Bob Ramsey reports, 3 payments have been made by the resident who we were looking to foreclose on. We have received a letter from a contractors attorney concerning the arc fees. This has been turned over to our attorney, who is drafting a reply. Bob Garrison’s recommendations from the last meeting has been turned over to the legal committee for review.
Finance-Valerie Cooper reports, The finance committee recommends to accept the 2021 audit as presented. Stan Earnhart makes motion to accept the 2021 audit as presented. Ken Gaspari seconds motion. Motion carried. The current cash basis accounting method to stay the same.
We are looking to close Anderson Brothers account and reinvest in an instrument (money market or cds to yield 3% minimum ) Move excess monies from Operating when they exceed
$250,000 to the South Atlantic Account. Move some of the TD Bank account monies to an instrument with a better return. Begin to build a ladder of instruments (cds) that would provide access to reserve monies each quarter or monthly.
We will be reviewing the ARC accounts to verify the amount of funds that are available. We are looking to consider creating a reserve account for the maintenance and upkeep of the HOA office building. We will also determine upcoming reserve needs for 2023 from each functional area, allowing the potential for a different distribution of percentages for each category.
We are looking into finding bids for a new reserve study. Bob Ramsey makes a motion to approve a reserve account for the HOA office building. Meredith seconds. Motion carried.
We have collected about 30% or 2023 assessments thus far.
Communications/Website– No report
Condo Liaison– No report
Community Liaison-No report
Welcome Committee– Meredith Marsh reports, Justine has welcomed 2 new families.
Drainage- Joe Myers reports,We have had no rain or standing water. He continues to work with ARC on all new home building sites.
Water Amenities– Joe Myers reports, We met with the contracted engineering firm Earthworks in Murrells Inlet to review the analysis of the Spoil Site Survey conducted earlier. We determined that some remedial earth moving to build up the dike wall in the southeast corner, roughly 200 feet, to at least 11 feet is required. Further, the dike being 11 feet high for all 2800 running feet would benefit future storage of canal sediment excavated in the future. ACOE and Earthwork’s recommend that we safeguard the spoil site for the future.
We would never get permits for a replacement.
We are preparing our Bid Request scope documents this week and preparing a list of qualified companies from which to request bids to repair the spoil site as warranted in the Engineering drawings and analyses.
We are running into increased costs in every aspect of this long term project to maintain the canal depths to ensure safe passage by residents boating/fishing. Finance committee needs to address the increased costs by increasing the Water amenities reserves in the future years.
We are requesting bids for the Hydro Surveying of the Canal Network to determine the quantity of material to remove to maintain a safe asset of water access for boating/fishing. This can be completed as we repair the spoil site basin and dike.
Bob Ramsey makes a motion for the golf course liaison to approach the golf course about cost sharing for the drainage projects and maintenance dredging. Motion seconded by David Decreny. Motion carried.
Roads– Ken Gaspari reports, A motion was made to add Mike Macedo and Dean Floyd to the roads committee. Motion carried.
Grounds– Meredith Marsh reports, She will be getting bids for our annual common areas maintenance contract.
Compliance– Stan Earnhart reports, Repairs have been made to 72 Daniel Morrall lane, closing this complaint. We sent a notice and are awaiting a response from a Wedgefield road Complaint. They have 30 days to repair or reply.
Old Business-
New Business-
Next Monthly Board Meeting– February 21, 2022
Adjourn – Joe Myers