annual meeting january 28, 2013

Annual MeetingJanuary 28, 2013

Agenda Welcome/Introduction of BOD, Mgt & Guests (6:30pm to 6:40pm)

Presentation of Awards (6:40pm to 6:50pm) - Jim Haslam – HMS Golf - Christian Stevens - Volunteer

Candidate Intro: 5 Mins. ea: (6:50pm to 7:10pm) - Request Election Committee pick order from a hat

• President’s Report: (7:10pm to 7:30pm)

• Treasurer Report: (7:30pm to 7:40pm)

• Sheriff Department Update: (7:40pm to 7:50pm)

• Architectural Review Report: (7:50pm to 8:00pm)

• Resident Questions & Answers: (8:00pm to 8:15pm)

• Announcement of Directors & Adjournment 8:15pm

BMCA Board of Directors 2012

Jay Patouillet President 2012VP 2008 - 2011

Dave Meredith

Vice President 2012

Treasurer 2010 - 2011

Russ Caso Treasurer 2012President 2010 –

2011Treasurer 2009

Greg Heyer Secretary 2012

Member at Large - 2011

Susan RubinMember at Large – 2011

Neighborhood Watch 2008 - Present

BridgeMill Community Association Staff

Jill LeeBMCA Property

Manager2008 - Present

Steve CollinsOversight Manager

Access Management 2008 - Present

BMCA Committees -

ARC CommitteeJared Rice: Chair John CrouchGary FreibergMark HangerCheryl KarrChristie MumaLuis Parado

Election Committee

Ed Heisman: Chair Judy Crawford Tammy RodricYard of the MonthNancy Madden

Awards & Recognition

Jim Haslam

Christian Stevens

Russ Caso

Kenneth Baskett

Johnny Rich

Candidate Introduction & Speeches

President’s Report Jay Patouillet

New Website Launch - Jon SubaczWeb address: Bridgemill.org

Sixes Road & Bells Ferry Road Maintenance

(L to R) Jay Patouillet, Jerry Cooper, Karen Bosch, Russ Caso,

Trish Croft & Dave Meredith

BMCA – New Office

The Alley Project

After Repairs

Expenses – Reimbursed

Initial costs funded by the BMCA with the actual owners paying their portion in 6 year installments

Expense Final Cost

Concrete Replacement 82,804.57$ Engineering Support/Oversight 2,315.00$ Security 5,310.00$ Legal SupportSignage 1,040.23$

Total 91,469.80$

Cost to each alley owner (41 owners) 2,230.97$

Memorial Garden Dedication

Treasurer Report Russ Caso

BridgeMill Community Association, Inc.Statement of Operations Summary

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Assessment Revenue $ 420,982.65 $ 429,000.00 $ 460,660.22 $ 442,320.00

Other Revenue 82,817.70 59,400.00 104,024.36 64,000.00

Total Revenue $ 503,800.35 $ 488,400.00 $ 564,684.58 $ 506,320.00

Expenses

Administrative Expenses $ 183,058.89 $ 214,900.00 $ 233,859.17 $ 231,750.00

Common Area Expenses 151,628.37 164,000.00 129,903.06 167,000.00

Homeowner Support 26,650.62 24,500.00 23,175.54 24,500.00

Other Expenses (Sixes Rd Maint) 11,106.02 20,000.00 17,204.04 20,000.00

Utilities 27,881.29 26,000.00 22,631.96 26,000.00

Total Expenses $ 400,325.19 $ 449,400.00 $ 426,773.77 $ 469,250.00

Contribution to Capital Reserve $ 103,475.16 $ 39,000.00 $ 137,910.81 $ 37,070.00

Capital Projects $ 86,876.73 $ 93,000.00 $ 111,579.58 $ 60,000.00

Contribution to / (Use of) Cash Reserves $ 16,598.43 $ (54,000.00) $ 26,331.23 $ (22,930.00)

End of Year Cash Reserves $ 267,913.77 $ 213,913.77 $ 297,526.08 $ 274,596.08

BridgeMill Community Association, Inc.Property Owner Collection Statistics

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Total Properties 2,739 2,739 2,739 2,739 BCA Dues $ 150.00 $ 165.00 $ 165.00 $ 165.00 Calculated Properties Collected 2,618 2,600 2,642 2,600

Percentage of Properties Collected 95.6% 94.9% 96.5% 94.9%

Delinquencies:

2011 Association Fees $ 15,973.54 4,528.44 2012 Assessment Fee - 14,312.04 Adjust Billing Special - - Alley Specific Assessment - 330.00 Association Fees (2010 & Prior) 20,338.92 9,915.45 Attorney Fees Charged to Property Owners 12,707.78 18,023.62 Balance Transfer 947.82 697.82 Delinquent Interest 9,833.39 10,202.59 Filing Fees Charged to Property Owners 122.50 117.50 Fines 50.00 75.00 Initiation Fees 4,000.00 1,650.19 Invalid Account Number - - Invalid Routing Number - - Late Charges - Alley Specific - 150.00 Late Charges 6,050.21 5,142.65 Payment (CAB) (4.16) - Returned Check 49.39 4.38 Special Assessments 2,121.85 4,122.78 Unit Maintenance Charges 10,045.19 9,033.27

Total $ 82,236.43 78,305.73

BridgeMill Community Association, Inc.Details

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Revenue

Assessment Revenue:301 2010 & Prior Association Fees $ 8,044.80 $ - $ 2,567.64 $ - 302 2011 Association Fees 392,702.21 - 10,287.69 - 303 2012 & 2013 Association Fees - 429,000.00 435,926.48 429,000.00 305 Special Assessment 1,468.28 - (2,171.89) - 307 Alley Specific Assessment - - 14,840.00 13,320.00 311 Prep-Paid Assessments 18,767.36 - (789.70) -

$ 420,982.65 $ 429,000.00 $ 460,660.22 $ 442,320.00

Other Revenue:308 Late Charge - Alley Specific Assessment $ - $ - $ 75.00 $ - 310 Unit Maintenance 3,385.51 2,500.00 5,579.15 2,500.00 315 Fines 75.00 $ - 270.00 $ - 320 Late Charges 8,718.79 5,000.00 7,540.72 5,000.00 325 Interest on Delinquencies 4,716.26 2,000.00 6,507.90 2,000.00 330 Attorney's Fees 10,548.21 5,000.00 15,869.18 5,000.00 332 Filing Fees 39.50 200.00 5.00 - 336 Returned Check Fee 160.61 200.00 175.62 - 337 Mailbox Sales 4,924.00 2,500.00 4,977.85 2,500.00 338 Initiation Fee 48,750.00 40,000.00 54,849.81 45,000.00 362 Operating Interest 453.25 500.00 244.06 500.00 364 Interest Reserves 1,046.57 1,500.00 561.82 1,500.00 370 Fire Loss Recovery - $ - 7,368.25 $ -

$ 82,817.70 $ 59,400.00 $ 104,024.36 $ 64,000.00

Total Revenue $ 503,800.35 $ 488,400.00 $ 564,684.58 $ 506,320.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Administrative Expenses:450 Management $ 97,898.52 $ 107,000.00 $ 103,581.36 $ 108,000.00 460 Insurance 11,928.00 12,000.00 15,632.00 13,000.00 470 Legal Fees - Collections 39,587.42 40,000.00 49,265.52 45,000.00 472 Legal Fees - Alley - - 2,050.00 - 480 Legal Fees - General Representation 900.00 5,000.00 1,985.00 5,000.00 481 Tax Prep/Accounting Services 250.00 250.00 250.00 250.00 505 On-Site Office - Old 20,514.48 16,000.00 38,529.01 - 505 New Office Space + Meeting Space Rentals - - - 35,000.00 525 Fire Damage Expenses - - 2,683.22 - 529 Misc. Administrative 9,770.38 19,000.00 15,230.99 15,000.00 535 Internet/Web Service 1,008.00 3,000.00 3,422.00 1,200.00 538 Property Taxes 86.09 100.00 87.07 100.00 702 Storage Unit 1,116.00 1,200.00 1,143.00 1,200.00 704 Consulting Services - 11,350.00 - 8,000.00

Total Administrative Expenses $ 183,058.89 $ 214,900.00 $ 233,859.17 $ 231,750.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Common Area Expenses:600 Landscape Maintenance $ 130,444.50 $ 117,000.00 $ 116,457.00 $ 117,000.00 605 Landscape Improvements/Repairs - 18,000.00 2,115.00 18,000.00 630 Irrigation R&M 6,550.00 5,000.00 5,742.72 10,000.00 700 Christmas Decorations 4,500.00 7,000.00 491.78 7,000.00 716 Street Signs R&M - 5,000.00 269.50 3,000.00 780 Electrical R&M 3,814.48 6,000.00 3,340.76 6,000.00 789 Misc Common Area R&M 6,319.39 6,000.00 1,486.30 6,000.00

Total Common Area Expenses $ 151,628.37 $ 164,000.00 $ 129,903.06 $ 167,000.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Other Expenses:455 Sixes Road Maintenance $ 11,106.02 $ 20,000.00 $ 17,204.04 $ 20,000.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Homeowner Support:503 Event Security $ 4,800.00 $ 5,000.00 $ 3,330.00 $ 5,000.00 590 Volunteer Recognition 1,566.00 1,500.00 943.73 1,500.00 640 Property Owner's Lots - R&M 9,655.00 12,000.00 10,351.25 12,000.00 710 ARC Support Expenses 5,238.57 2,000.00 1,765.22 2,000.00 715 Mailbox Supplies 5,391.05 4,000.00 6,785.34 4,000.00 805 Alley Expenses - - - -

Total Homeowner Support $ 26,650.62 $ 24,500.00 $ 23,175.54 $ 24,500.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Utilities:400 Electricity $ 9,682.99 $ 11,000.00 $ 9,598.86 $ 11,000.00 410 Water - Irrigation 18,198.30 15,000.00 13,033.10 15,000.00

Total Utilities $ 27,881.29 $ 26,000.00 $ 22,631.96 $ 26,000.00

Total Expenses $ 400,325.19 $ 449,400.00 $ 426,773.77 $ 469,250.00

Contribution to Capital Reserve $ 103,475.16 $ 39,000.00 $ 137,910.81 $ 37,070.00

2011 Actual 2012 Budget 2012 Actual 2013 Budget

Capital Improvement Improvement Projects:835 New Lighting at Main Entrance $ 84,407.73 $ - $ - $ - 836 Banners for Main Entrance 2,469.00 - - - 837 Alley Repair - $ 60,000.00 92,510.04 $ - 838 Lighting R&M - 15,000.00 - - 839 Monument Sign Replacement - 15,000.00 - - 505 New Office Furniture & Fixtures - - 19,069.54 - XXX Website Development - 3,000.00 - - XXX 2013 Projects to be Defined - - - 60,000.00

$ 86,876.73 $ 93,000.00 $ 111,579.58 $ 60,000.00

Contribution to / (Use of) Cash Reserves $16,598.43 ($54,000.00) $26,331.23 ($22,930.00)

Cash Balance @ January 1 $ 267,913.77 $ 267,913.77 $ 294,245.00

Projected Cash @ December 31 $ 267,913.77 $ 213,913.77 $ 294,245.00 $ 271,315.00

Average Monthly Operating Expenses $ 33,360.43 $ 37,450.00 $ 35,564.48 $ 39,104.17

Cash Reserves Coverage, # of Months 8.0 5.7 8.3 6.9

Captain Bill Smith BridgeMill Precinct Commander

Architectural Review Report Chairperson: Jared Rice

Questions & Answers

Congratulations to our NewBMCA Board of Directors

2013 - 2014

Adjournment