Meeting started at 7:05 PM – at Community Center
Jay Harter shared a Summary of 2022 Finances.
At the end of 2022, we ended up with a deficit of $27K.
One of our big expenses this year – We spent $23K in 2022 on problems underneath the road (stormwater sewer pipes and grading). We had a company come and take pictures/videos in those pipes in September, so we can get a better idea of future issues. They found several minor problems in the pipes (cracks/leaks). Will need to fix. Mike Pincus to talk to Master Association to see what funds they can contribute. We anticipate some costs in 2023 to cover those issues. We don’t know what it will cost, so we aren’t putting money in. If we don’t have enough next year, it might be an assessment.
At the end of 2022 – We have a $27K deficit due to the landscaping rejuvenation project and the pipe/sinkhole repairs. Council considered 3 alternatives to pay for the deficit.
- Assess everyone $317 this year.
- Carry loss over to 2023 budget, but that would add $79 to quarterly fees (before other increases hit).
- Pull from Reserve fund. We talked to CSK, accountants, and auditors and got their ok. This is the one we chose to do. This means we need to make sure we get these funds built back up in our reserves. We plan to do that within 2 years.
Planning for 2023
The Master’s Association cost will go up due to insurance, landscaping (not FV specific), and trash. 3.9% increase for Master’s Association. Insurance had the largest percentage increase.
Our contract with Hershey’s Mill Landscaping ends in 2023 (was a 4-year contract).
We will increase what we are contributing to our Reserves by $7870 per year.
We won’t power wash – which will save $11K (we do it every other year).
We will do pest control this year – $5K.
A big contribution to the 2023 budget was the FV landscaping funds. These funds are different than the HM Landscaping contract. Michelle and her team went house by house to figure out a budget and they saved $8K from our normal expenses for that portion of our landscaping. (Although Michelle warned that we can’t anticipate surprises). The savings from our FV Landscaping Committee help offset the increase from HM Landscaping.
Bottom Line: For 2023 – Our Quarterly fees will go from $1730 to $1800. 4% increase.
We have $782,000 in the Reserve fund as of 2022.
Of all the villages that Jay was able to obtain information on, Franklin is fourth from the bottom in terms of Quarterly fee cost. Not all villages have their numbers done for the year, yet. But we feel certain that our fees will remain one of the lowest. Some of the villages that have lower fees pay their own water and all their own insurance (single homes).
2023 QUARTERLY RATES to compare
ZEPYHR $2,533
GLENWOOD $2,195
INVERNESS $2,194
CHATHAM $2,021
MERRIFIELD $2,000
OAKMONT $1,965
ROBYNWOOD $1,950
PRINCETON $1,925
HLN $1,917
VASSAR $1,850
FRANKLIN $1,800
ULSTER $1,775
TROON $1,760
QUAKER $1,633
Our focus in terms of large projects in 2023 are:
- Our stormwater pipes under the roads – fixing known leaks and keeping an eye out for future leaks.
- Our roofs were installed in 1999-2000. Approximately 35 of our houses have had a leak in the last two years. Some residents more than others. It’s time for us to start the process of getting the roofs inspected, talking to contractors, get pricing and input into what we should do in terms of replacing.
Mike Pincus
Reminded the group that the Master’s Association does the negotiating for the larger contracts (insurance, landscaping, trash, water). Companies don’t want to negotiate with individual villages, they want to negotiate with the Master’s Association so they can get several/many villages at one time. This also gives the Master’s Association leverage as they compare bids.
Obviously, inflation and rising gas prices are affecting the cost of goods and services. We need to keep planning properly. Mike thanked the Finance Committee for their work on the yearly budget and acknowledged the challenge they face.
Mike to meet with the first roofing contractor on Monday, November 14th and start the process of collecting information.
Dave Ogletree mentioned the flashing. The flashing goes up under the siding and creates different elevations. He believes it is the flashing that is leaking on some of our houses. The siding will need to be removed in some instances to address the flashing issues.
Michelle Cohen mentioned the kickout flashing (also called diverter flashing) needs to be looked at (are incorrect).
Resident’s questions/concerns:
Have we considered metal roofs? Noisy. More expensive. Last longer. We will talk to contractors about that option.
What vendor(s) are we looking at? Bachman’s Roofing out of Wernersville (near Reading). KPI – Rich Jurgen said Kennett used them. Worked rain/sleet/snow.
Are we considering solar panels? Will be discussed with roofing contractors. (Ogletree) Solar panel installers will insist you have a new/young roof. Would need approval from the Master’s Association. Mike said it is currently being discussed at the monthly MA meetings.
Street lighting – there is a concern that lighting in all of Hershey’s Mill is inadequate. Council will keep it on our radar. Franklin Village, like the Master’s Association, are being cautious with projects until we have a full picture of our stormwater pipe issues.
Sealing for roads – it is in the reserves ($25K). We anticipate having the funds when needed. But will still wait to see about the stormwater pipes/leaks/cracks before we do any sealing of the roads.
Michelle Cohen/Jack Keeley – Landscaping
We very much appreciate people letting us (The Landscaping Committee) know when you are planting new items. We still need you to fill in a Landscaping Form. We want to ensure you are planting plants that are ok for the size/area. We don’t want plants to go in that will become out of control and overgrown in 5-10 years.
Pachysandra – in common ground, should really be cut back from house foundations and trees/bushes. The only area you are required to take care of is the 18 inches from your house, and the trees/bushes if possible. If you are physically unable to do that work, let Michelle know and she will work with you. We will get volunteers to help you out. We want to take care of each other and help when needed. Our goals is to make sure you tell us any issues you have, and we will work with you to figure out a good solution.
Trees hanging over your house. Our contract only takes care of trees 12 feet from the ground. AC Tree will be out in the spring to take care of trees hanging over houses higher than 12 feet. We are walking around constantly – please be patience with us, we are trying to keep up with it all, while watching what we spend.
Thank you to everyone for coming tonight.
Meeting adjourned 7:40 PM.