April Newsletter

Dear Neighbors,

As I write this, March is preparing to go out like a lion, with a forecast for a Spring snowstorm, capping off our worst winter in years. But there is hope; the Phillies’ opener is tomorrow.

Notwithstanding the over-budget snowplowing costs, our budget remains in surplus with four months left in this fiscal year.

Spring clean-up is underway by our landscaping contractor, which will include mulching of the common areas. We will not be mulching the individual flower beds again this year to save money (about $11,000), but we will have a bulk delivery of mulch delivered to those residents who want to do their own—details elsewhere
in this issue.

The Management Company and Budget Committee have been hard at work on preparing the budget for the fiscal year 2011 to 2012 which will determine next year’s condo fees. The process requires a balancing of two forces—on the one hand we need to increase the budget for snow removal and property repairs. (we are an aging community), while on the other, we recognize the tight financial condition of some of our members, and the reality of the weak property market.

Our annual meeting will take place in the barn on April 12. This meeting is more significant than most, as we will be electing three new Board members to replace long-serving members who are retiring. Three applicants have already qualified to be on the ballot, with the possibility of additional candidates who can be
nominated from the floor at the meeting. You should already have received your notice of the meeting and info on the present candidates. It is important that we have a quorum to make the results legal. Quorum can be obtained by actual attendance at the meeting or by submitting proxies.

A proxy nominates another member to act as their agent to cast your vote at the meeting or to vote for you using his (or her) own discretion. If you are submitting a proxy, you may also leave the vote lines blank, in the event there are nominations from the floor.

Owing to the significance of this election, I and the other incumbent Board members are actively soliciting your proxies, if you will not be attending the meeting. If you think we have been doing a good job on your behalf, that is a way you can show your appreciation.

Best regards,

Ed Ryan
President

December 2010 Newsletter

Dear Neighbors,

We continue to enjoy the most beautiful fall in years as we head into another holiday season. With the completion of the pond dredging, replacement tree plantings, and some roof repairs, the outside work is almost done for the year. I have not seen any predictions for snow this year, but we hope not to have a repeat of last year. At last month’s Board meeting, the purchase of a new Gator with a good snow plow package was approved. The old one is on it’s last leg and needs major repair.

Our maintenance staff will use this to help clear the parking lots at a lower cost than the snow removal contractor. We remain in good shape fiscally. We have a positive variance in net income and our delinquencies are the lowest in years. Following up on last month’s issue concerning the idea of consolidating our electric usage, we invited a commercial electrical contractor to survey our property to determine the feasibility and costs involved. We will keep you posted. In a similar vein, I received a message from one of our members last month suggesting we consider making OFC a wi-fi “hot spot”. This is out of my personal expertise as I do not even have email yet. I suggest that those of you who do have the expertise and interest attend our next Board meeting on Dec. 14th. Perhaps you can form an “ad hoc” committee to study the benefits and costs, and make a presentation to the Board.

From time to time, I’ve used this message to report on issues regarding our natural gas supply. Since I have a background in the energy industry, several years ago the Board delegated to me the job of administering the relative contracts with Hess (for supply) and PECO (for transportation). As previously reported, we were successful in making changes in these contracts to reduce our costs substantially. In reviewing this material, we found that PECO had been overcharging us for years by not making annual audits of our usage. Without going into more technical detail, the result was we filed suit against PECO to recover these charges, and our suit was settled yesterday during mediation. We will receive a payment of approximately $30,000 from PECO to settle these issues, which will net OFC about $25,000 after legal fees. I want to thank Barb Damato of our office staff for her invaluable contribution in this effort. She spent many hours researching old files and corresponding with PECO and our attorneys, as well as participating in the mediation.

I hope you all have a great holiday season, and I look forward to seeing you at our annual party on December 11th.

Best Regards,

Ed Ryan,

President