Check under Osprey Cove Notice for an update on what is happening at the back property.
Check under Osprey Cove Notice for an update on what is happening at the back property.
Solar panel work on the Clubhouse roof will begin on Monday, November 4, 2019.
The work will run 10 hours/day from Monday through Thursday. During the workday vehicles and a trailer will be parked in the Clubhouse “loop”. There will be no overnight parking of the vehicles &/or trailer in that area.
We do not anticipate any impact on the handicapped parking spaces in front of the Clubhouse.
There is a new Notice on the left hand side of the web home page that has information about the digging that has started and the homes that will be built.
The term of the new Board of Trustees began on October 1st. Photo below. Thank you to all for volunteering your time and energy!
Bob Beddes is the Board President; Bruce Rosenberg is the Vice-President and liaison to Grounds and Irrigation; Marilyn Carpini is the Secretary and liaison to the Architectural Control Committee; Tom Hassett is the Asst. Treasurer and liaison to the Finance Committee; and Ed Morris is Trustee and liaison to House & Recreation. Ray Kaden is our Treasurer.
There is a new Notice – on the left hand side of the home page – with information on the proposed usage of the vacant Harvest Exchange property.
If you have entered Four Seasons via the back gate you may have seen the signage advertising Osprey Cove. Six homes are to be built on the back property adjacent to Four Seasons and The Learning Center. The posted starting price for the homes is $899,900.
Your Board of Trustees has reached out to the builder to set a meeting where we can go over the plans and work to assure the least disruption as possible to our community.
The letter from our Attorney is posted under Documents.
At the General Meeting on July 18, 2019, our Treasurer, Ray Kaden, provided information on how our community has benefited significantly and has also been well protected by our Investment Committee of Bob Bennett, Dennis Leonard, and Pat Moore through the guidance of our investment manager, Bob Gerling of UBS. Their diligence and expertise have saved each homeowner of $150 per year in maintenance fees for the past 10 years.
Replacement Reserve – The balance in the RRF at 6/30/2019 is $3,463,645, which includes $187,999 for the Landscape Reserve and $85,000 for the Snow Reserve Without those sub funds we have $3,190,646 available for capital assets.
The RRF grew by $291,538 from June 30, 2018. This growth is a combination of monthly contributions to the RRF, as included in the Operating Budget, plus interest and dividends earned and appreciation of our investments, minus capital expenditures made over the last year. As of 6/30/2019 in the RRF, we held 16/5% Cash; 63.8% in Fixed Income; and 19.7% in Equities.
We still have some budgeted capital expenditures to be made in 2019, including the balance due on the Clubhouse Roof, as well as the solar panels cost.
Working Capital – This fund is down to $89,052 from a 2018 level of $145,848. This decline is due primarily to using $40,000 of this fund to mitigate some of the Quarterly Maintenance Fee increase in the 2018 Operating budget. We will transfer $17,557, the amount of the 2018 net operating surplus attested to by our auditors, later this month. This will bring the balance in the Working Capital Fund up to $106,609.
Operating Fund & House & Recreation Fund – The Operating Account had $229,192 in it at 6/30/2019; and the H&R Fund had $29,709 in it at the same date.
Check under Community for information on the work that has started and the Grant money approved from the State of NJ.
