WPA MONTHLY MEETING MINUTES
May 15th, 2018
Call to Order – Jacky Walton
Attendance – Jacky Walton, Bob Garrison, Larry McMillin, Peggy Phillips, Adam Anderson, John Walton, Butch Williams, Steve Vasey
Quorum – Yes
Approval – Motion to approve April 17th, 2018 Minutes made by John Walton, seconded by Butch Williams. Motion carried
Officer Reports
Presidents Report – Summer is among us. A lot more traffic will be on the roads with more construction happening and kids out of school. Drive carefully and watch out for more activity on the roads.
Vice Presidents Report –
Secretary’s Report– The office printer-scanner-fax machine developed problems beginning on May 4th, being unable to communicate with the computer. After repeated service calls without resolving the issue, it was decided to purchase a new unit. With tax, the cost of the new printer was $329.99. There have been no further issues and all is working well. Larry McMillin made motion to file for 3 year extension on QuickBooks at $219.95. Bob Garrison seconded this motion and motion carried.
As required during the month of May, the Annual Meeting location has been reserved. It will again be at the Presbyterian Church on Black River Road. The meeting will be held on November 17th.
Treasurer’s Report– Our Operating Account with South State had a balance of $157,260 as of 5/15/2018.
Our Reserve Account balances as of April 30, 2018 were: South Atlantic $119,494.30, Edward Jones $359,062.02, TD Bank $99,746.06 These amounts reflect interest earned of $148.01
Per the April Board meeting, $50,000 was withdrawn from South State Operating and deposited to our Reserve Account with South Atlantic. I have given the Board Members an Updated Reserves form reflecting the balances in each category including this $50,000.
Presently there are 19 accounts delinquent for this year and 32 from prior years. A demand letter will be sent to this year’s delinquencies in June and lien will be filed in July if the balances are not paid.
We are proposing to open a free, small business checking account with South Atlantic Bank with a maximum balance of $2,500. This account provides two free debit cards, a no minimum balance and no transaction fees. The account will only be used for debit card transactions and not for day-to-day banking., if approved by the board. This will require a Policy Change.
A first reading of this proposed Policy Manual change, permitting a second checking account, will be presented by the Compliance Chairperson tonight explaining the details of this account. I make a motion at this time that we approve opening an additional checking account with a maximum balance of $2,500 to be used for debit card transactions only, seconded by Bob Garrison. Motion carried. This account will only be opened after a Second Reading to adopt the Policy Manual changes.
Committee Reports
Committees
ARC– Fence Approval Lot# 503, Storage Shed Lot# 164, Reroof Lot# 300, New Construction Lot# 490, Reroof/Color change Lot# 303 Refund Lot# 383
Legal– The 2 lots that were not being released because of connections to another mortgage have been released and are now our properties. Legal will meet to decide on how to proceed with these properties.
Finance–
Communications- The annual community yard sale was held on May 5th. There were approximately 65 maps handed out, with 20 residents signing up and more that just participated. It was suggested that we extend the hours to 3pm next year. I will ask for input prior to this event in the future.
Community Liaison– Complaint about pothole, confrontation with board member, and thanks about sign.
Welcome Committee– 3 new families welcomed to the community at 2146 Wedgefield Road, 2170 Wedgefield Road, and 326 Francis Parker Road. Butch Williams motion to add Jean Hayman to welcome committee. Motion seconded by Bob Garrison. Motion carried.
Drainage– no report
Water Amenities– John Walton made a motion to approve a contract between WPA and Brad Davis (contractor) in amount of $43,000 for the required preparation work on the spoil site that has been established by Earth Works. Motion seconded by Bob Garrison. Execution of this contract contingent upon 2 requirements: 1. Proof to the board’s satisfaction that the required monies to meet the canal lot owners portion of the dredging have been obtained and are available for disbursement. 2. A written commitment from the dredger of choice that the cost of the dredging will not exceed $239,000 and that said dredge will be ready to begin work no later than December 1st 2018. Anyone parking at the Marina will be towed at the owner’s expense if they do not have the proper stickers on their vehicles.
Condo Liaison– no report
Roads– Repaired a couple of pot holes with hole patch. Will repair some more this week. Asked Sign Shark to revise bid to $12,000 now after change for wooden posts. Adam Anderson motions to make 50% deposit payment that needs to be remitted for Sign Shark to begin. Motion seconded by Jacky Walton. Bob Garrison opposed. Motion carried.
Grounds– Although we got a late start, the landscaping around the entrance has been completed. With limited selections, what was done looks quite pleasing. A purchase of 26 knock out roses should add color throughout the season. There was an approved motion at the April Board Meeting to spend up to $1,800 for the flowers, but only $1,491 has been spent. Many thanks to Dale Hayman, Peggy Phillips, and Bob and Nina McMahan for all their efforts.
The vacant grassy lot program has been finalized for the season and our maintenance contractor will begin mowing soon. Several other property owners have been contacted to encourage them to participate as well.
Compliance–
Website Committee- Jacky presented a plan for a Wedgefield HOA facebook page. Brought a proposal to show how it will work and the rules and guidelines for the page.
Old Business-
New Business- 1st reading on policy manual change
Policy Manual Proposed Changes– Section VIII:Current- 1.01 Accounting Method- The financial records of The Association shall be maintained under the Full Accrual method. Material income shall be recognized as earned, whether or not actually received, and expenses shall be recorded as incurred, whether or not actually paid.
Proposed- 1.01 The financial records of the Association shall be maintained under the Cash method. (Rev.)
Current- 1.04 Year End Income- All Retained Earnings from the prior year shall be distributed to Reserve Accounts as soon as possible following year-end.
Proposed- 1.04 Year End Income- Retained Earning from the prior year shall be distributed to the Reserve Accounts. (Rev.)
Current- 12.01 Checking Account- It shall be the policy of the WPA to maintain only one checking account with all funds received deposited to this account and all checks written charged to this account
Proposed- 12.01 Checking Account- It shall be the policy of the WPA to maintain only one primary checking account with all funds received, deposited to this account, and all checks written charged from this account (Rev)
Proposed-12.01.02 A secondary checking account shall be opened and maintained with a maximum balance of $2,500.00. This account may only be accessed by two debit cards. (Rev)
Proposed- 12.01.03 The President and Treasurer will each control one debit card. Each card will have its own pin number. Usage of these cards will be available to all Board Members. All requests for usage will be submitted on a disbursement form with the Board Member’s name and exact purpose listed (see Appendix VIII-I). Two Executive Board Members must approve the purpose and sign the disbursement sheet. Following use, all receipts must be submitted and attached to the disbursement sheet. Reconciliation of the transaction must be done by one of the approving Executive Board Members. Any deviation from the approved purpose or procedure may be considered fraud and the offending Board Member will have 10 days to make full restitution to avoid legal action. (Rev)
Current- 12.02.04 Checks shall never be made payable to “Cash”
Proposed- 12.02.04 Checks shall never be made payable to “Cash” except for replenishment of the Petty Cash Fund. (Rev)
Update- Irrigation repairs on Golf Course are almost done. The pool will be opening next week as long as DHEC certificate comes. The Manor House still needs more support.
Public Comments-Connie Downs making comment asking about our system being hacked. Connie Downs asking about update on security cameras. Butch Williams informed her that he is still trying to get verification of some issues on the cameras to see if they will work for what we want them to. Carolyn McBride says if you have a short lunch call your order into the Manor house and they will have it ready for you.
Next Monthly Board Meeting– June 19th 2018
Adjourn – Jacky Walton