2013 annual meeting. introduction roll call proof of notice minutes of the 2012 annual meeting ...
TRANSCRIPT
AGENDA Introduction Roll Call Proof of Notice Minutes of the 2012 Annual Meeting Elections Report of Financials Report of Operations Old/New Business Q&A Adjournment
RECOGNITIONS Patty Viggiano – website, proxies, flyers
regarding annual meeting
Laura Conti – proxy
Lucille Gilbert – proxy
Pat Heaney – maintenance and walkway lighting
Cliff Purdy – Corral lighting
BALANCE SHEET Operating Fund Balances – $8,000 Reserve Fund Balances – $235,000
Total Cash Position – $243,000
2013 YTD BUDGET ANALYSIS Revenue – 258K/254K
Operating Expense Electric – 7K/7K Grounds Maintenance – 95K/99K Maintenance and Repairs – 20K/22K General and Admin – 126K/116K
Total Operating Expense YTD – 245K/256K
AGED RECEIVABLE REPORT Board’s efforts continue regarding
collections of delinquent account balances
Appx 36K in unpaid Association Dues
Board’s Options? File a lien Foreclose on the unit Revoke common area privileges and
membership rights
COLLECTIONS EFFORTS CONT., Board executed business judgment as it
pertains to risk vs. reward in regards to pursuing delinquent accounts
Wage garnishment? Other means of collections without
expending Meadows resources
Meadows BOD has aggressively pursued arrears and will continue to by any legal means necessary
OPERATIONS REPORT Repairs and Maintenance has been focused
on prolonging the life of the existing Meadows infrastructure
The following items have been addressed: Railroad tie wall replacements and rebuilds Privacy fence repairs Large tree pruning project (street visible
trees targeted) Underground drainage installed to mitigate
flooding and unit damage risk
OPERATIONS REPORT CONT., Cement repairs (walkways) Restriped entire community All light poles re-secured into cement
bases (previously in dirt) New cluster boxes were installed Purchased new dumpsters Installed safety lighting in all corrals
All proactive versus reactive maintenance
FUTURE PROJECTS Asphalt repairs 2014 Garbage corral staining and repair Additional drainage work Tree maintenance (yearly)
As needed maintenance
2014 MISSION STATEMENT Each year the board understands that
its needs as a community evolves based on its age, environmental conditions, and budgetary constraints.
Increase the capital reserve fund Continue to reduce arrears Increase scope of services without the
need for special assessments
CLOSING COMMENTS The requirement for capital – without it,
nothing else is possible
Every action taken of behalf of the Board is targeted at increasing the value of your homes
Remain partners with the Board and the community – not losing sight of the end game