president’s report annual homeowners’ meeting...summerwood budget worksheet for year 2017 dues...

PRESIDENT’S REPORT

ANNUAL HOMEOWNERS’ MEETING

JULY 30, 2016

Your Board of Directors

Chris Durkin (Vice President)

John Hedderich (Treasurer)

Tim Maves (Member)

Peter Raich (Secretary) term expires

John Fitzgerald (President) term expires



Your Architectural Control Committee

Dan Duke (Chair)

Chris Metzger

Linda Boyd

Architectural Report

Dan Duke

Repaint/Restain Policy:

Homeowner to paint a patch (2 ft X 2 ft) with new paint (even if we

think it is the same) for ACC approval.

Any Outside Changes: Remodel or Repair; Trees; Landscape;

Please Contact the ACC

Road Use Fee May Apply

Fire Mitigation

Create Defensible Space

Architectural Report

Dan DukeReal Estate Closings -- July 2015-2016

Welcome new neighbors

Buyer Address Closing

Dan & Diane Duke 42 Guyot Ln. 7/1/2016

Vincent & Melissa Valentine 73 Pinnacle Ln. 5/31/2016

Robert & Deborah Kopp 507 Summerwood Dr. 5/27/2016

Larry & Charlene McArthur 177 Summerwood Dr. 3/24/2016

Samuel Bejar& Bonnie Segal 417 Summerwood Dr. 3/21/2016

Brock McKee 162 High Meadow Dr. 2/29/2016

James & Betsy Horkovich 235 Eastridge Dr. 12/21/2015

Architectural ReportDan Duke

ACC Approvals (2015-2016)

Name Address Date Project

McKee 162 High Meadow Dr. July Paint

Anderson 107 Torrey Ln. May 13 New Construction

Boyd 194 Summerwood Dr. March 6 Window

Cooledge 84 Guyot Ln. January 24 Solar

Cohen 507 Summerridge Sept. 28 Re-stucco

DiBlassi 86 Guyot Sept.1 Paint

Fitzgerald 19 Sage Rd. June 25 Deck railing

Brown 127 Torrey Ridge Aug. 12 Windows

Horkovich 235 Eastridge June 29 Paint

Kopp* 507 Summerridge June 15 Deck, hot tub

Valentin 73 Pinnacle June 10 Tree remove, replace

Welbon 14 High Meadow Tr. June 2 Paint

Yawitz 196 High Meadow Dr. Oct. 6 Patio

Architectural ReportDan Duke

Encroachment Issues Addressed:

Name Address Date Project

Del Villano 42 Guyot June Driveway/Walkway

Knight 261 High Meadow August Construction

Mauldin 295 East Ridge Dr June Garage/Walkway

McArthur 177 Summerwood April Deck


On Site Managers

Manager:

Eric Nicholds

Assistant Managers:

Susan Nicholds & her helper, Gary


Strategic Plan

Mission:

“Community of Choice”

“Sustainable Future… enhance the value of the community”

Vision:

“lead… in sound fiscal management, a strong trusting

relationship with homeowners, and as an environmentally

conscious, responsible, aware and participating citizen of our

mountain community”

Core Values:

Transparency, Integrity, Mutual Respect, Fiscal

Responsibility, Helpfulness


Annual Activities:

>Fill Road Cracks

>Vegetation Management

>Forest Management:

~Standing Dead & Beetle Trees Removed

~Spraying as Necessary

~Pheromone Packs Installed

~Selective Thinning & Pruning

~Tree Replanting Program


Completed “Projects” :

Racquetball Court Flooring Installed

Programmable Pool Pump Installed

Pool Re-plastered & Drain Leak Repaired

Hot Tub Re-plastered & Leak Repaired

Fitness Equipment Upgrade

Some Paving Patched


Our View of the Future

Current / Future “Projects”

Address Signs

Xeriscape where appropriate

Gilan Engineering Study (& our actual experience) continues

as the basis for reserve planning

Unknowns

Thirty Year + Old Community

Annual

Homeowner

Education

Homeowner

EducationHOA Relevant Colorado Law

Colorado Nonprofit Corporation Act (CNCA)

Summerwood Articles of Incorporation

Colorado Common Interest Ownership Act (CCIOA)

Requirements imbedded in HOA Documents

Homeowner

EducationSummerwood Documents

Summerwood Declaration of Covenants

Originated by Developer

Provides for Board of Managers

(Now known as Board of Directors)

Provides for Architectural Control Committee (ACC)

Established first (and continuing) HOA rules

Very Hard to amend:

(2/3 of owners + first mortgage holders)

Homeowner


Summerwood Bylaws

Meetings (who, when, notice, quorum, voting)

Board of Directors (number, terms, etc.)

Records

May be amended by Board of Directors

Summerwood Rules Adopted by Resolution

Road Use Fee, Fines, Exterior Maint., Clubhouse, ACC

May be amended by Board of Directors

Homeowner


Summerwood Operating Manual

Board:Policies; Meetings; Communications; Financial Procedures; Annual Meeting

ACCPhilosophy; Procedures; Policies; Notification; Signs;

Annual Schedule

Site ManagerDuties; Schedules; Policies

Records Policies

Contracts & Agreements

Homeowner

Education

Wildfire Mitigation

Summerwood Wildfire Hazard Rating: Moderate

Defensible Space: Fuels Reduction Area (Cut Tall Grass)

Common Property within your defensible space needing work:

Please inform HOA.

Selected Rules: All pets must be kept on a leash when off its Owner's

Site

No pets in Common Facilities

Sports Complex Under 14 …supervised by an adult

No Glass in pool/spa area

When Renting Your Home Owner is responsible for renters

No Pets

OHV restricted from our roads

Tenant info to HOA if > 30 days

Homeowner

Education


Safety Reminders

Walk our Roads Defensively

Respect non-motorized users when driving our roads (Speed Limit 20 mph)

Entrance Bike Crossing Caution:

Bikes have a stop sign, but often don’t look for cross traffic

Cars have right of way, but…

HOMEOWNER

EDUCATIONWebsitehttp://www.summerwoodassociation.com

Owners Login Section:

Password: Summerwood

Welcome Page: President’s Corner

Meetings & Minutes: BOD Schedule/Agenda/ Minutes

(You are welcome to attend any meeting)

BOD Members:

ACC Members:

Financials:

Insurance: Summary

Vendors: Disclaimer

http://www.summerwoodassociation.com

MANAGEMENT COMPANY REPORT

Gary; Susan; & Eric Nicholds

Basic Property Management

FINANCIAL REPORT

John Hedderich

Treasurer

Summerwood Budget Worksheet for Year 2017 Dues unchanged from $275 Draft 01

Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget

2013 2014 2015 Jun2015 2015 2016 2017

May 2016 Approved Approved Proposed Comments

Operating Income /Owner/month

Dues: Operating _97 owners 176,637 177,114 175,496 178,605 175,498 182,960 185,235 $159.14

Mgmt Fee - Ridge 4-Plex 4 2,866 2,928 2,988 3,013 2,987 3,047 3,047 + 0.0%

Mgmt Fee - Summer Ridge 6 4,299 4,380 4,468 4,505 4,468 4,557 4,557 + 0.0%

MgmtFee - Torrey Ridge 8 5,733 5,844 5,964 6,014 5,961 6,080 6,080 + 0.0%

Sale of Vehicle - 15,000 - - - - -

Trash Reimbursement $20/month 3,520 3,100 2,640 2,640 3,120 2,640 2,640

Misc Income _ Interest 120 167 47 264 - - -

Total Operating Income 193,175 208,533 191,602 195,041 192,034 199,284 201,559

Operating Expense

Bad Debt 953 - - - - - -

Administration

Annual Meeting Expense 2,411 2,712 2,177 2,177 2,500 2,500 2,500

Bank Service Charges - - - - - - -

Cable TV 1,821 1,909 1,871 1,898 2,000 2,000 2,000

Clubhouse Holiday Decorations 22 32 1,091 1,091 150 100 100

Contributions - - - - - - -

Directors Meeting Expense - 22 - 8 - - -

Filing Fees 227 26 38 68 10 20 20

Insurance 6,979 6,663 6,568 6,665 8,400 6,500 6,700

Office Supplies 121 290 111 149 250 200 200

Other Admin 3,720 3,424 3,390 3,122 3,500 3,500 3,500

Postage and Delivery 262 163 123 119 300 300 200

Printing and Reproduction 241 193 441 434 250 300 400

Secretarial Service 827 954 1,056 1,031 1,200 1,000 1,000

Security System 375 273 273 273 375 300 275

Taxes & Licenses - - - - - - -

Telephone 3,192 3,158 3,076 2,732 3,200 3,200 3,200

Unit Inspections - - - - - - -

Web Page Admin 420 420 420 420 420 420 420

Total Administration 20,620 20,238 20,634 20,187 22,555 20,340 20,515

Management Fee 111,226 113,451 115,729 116,694 115,729 118,044 118,044 + 0.0%


2013 2014 2015 Jun2015 2015 2016 2017


Professional Fees

Legal Other Than Architectural 174 2,475 4,800 3,405 200 2,500 3,500

Total Professional Fees 174 2,475 4,800 3,405 200 2,500 3,500

Repairs & Maintenance

Building Maintenance 3,223 2,866 778 15 2,500 2,500 1,000

Clubhouse - Other 4,383 4,298 4,574 4,313 4,000 4,500 4,500

Clubhouse - Pool & Spa 1,970 7,899 6,429 10,127 2,200 6,000 6,000

Grounds Maintenance 5,018 2,504 9,375 9,379 5,500 3,000 8,000

Managers Unit 202 124 - 145 300 300 300

Ordinary Road Maintenance - - - - - - -

Other Maintenance - - - - - - -

Signage Program - - - - 150 - -

Snow Removal - 75 - - 100 - -

Trash Removal 11,770 11,135 11,506 11,781 11,500 11,500 11,500

Tree Replacement - 3,000 300 300 1,000 3,000 3,000

Total Repairs & Maintenance 26,566 31,902 32,962 36,059 27,250 30,800 34,300

Utilities

Electric 10,174 9,152 7,456 6,513 9,000 8,500 8,000

Gas 4,187 4,696 4,274 4,264 4,000 5,000 5,000

Water & Sewer 3,728 5,047 5,035 5,955 3,700 5,000 5,000

Total Utilities 18,089 18,894 16,766 16,732 16,700 18,500 18,000

Vehicle Expense

Gas, Oil, Washing 2,678 4,140 1,870 1,863 3,000 3,000 2,000

Insurance, Licenses, Registr 3,740 2,789 2,508 2,332 3,000 3,000 2,500

Repairs & Maint-Trucks 4,100 4,013 1,084 1,117 3,000 2,500 2,500

Repairs&Maint-Skid Steer 94 - - - 500 500 100

Vehicle Expense - Other 155 159 - - 100 100 100

Total Vehicle Expense 10,767 11,102 5,461 5,312 9,600 9,100 7,200

Total Operating Expense 188,394 198,061 196,352 198,388 192,034 199,284 201,559

Operating Net Income/(Loss) 4,781 10,472 (4,749) (3,348) - - -

Other Income & Expense

Other Income

ACC Consulting Fees - - - - - - -

ACC Plan Review Fees - - - - - - -

Collection Fees - - - - - - -

Late Fees 78 28 40 120 - - -

Fines 100 500 - - - - -

Mail Box Charges - - - - - - - /Owner/month

Dues: Reserve Fund 114,363 131,346 138,784 138,100 138,782 137,140 134,865 $115.86

Interest - Money Market 824 825 826 816 - 800 800

Road Use Fee - 4,715 - 9,683 - - -

Total Other Income 115,365 137,414 139,650 148,718 138,782 137,940 135,665

Other/Reserve Expense

Reserve

R Clubhouse - exterior paint - - - - - - -

R Clubhouse - redecorate - - - - - - -

R Clubhouse - security system - - - - - - -

R Ditches and culverts cleaning - - - - - - -

R Dumpster - move and/or replace - - - - - - -

R House signs - stain - - - - - - -

R Managers Unit - improvements 987 - - -

R Plant Health and Pruning - - - - - - -

R Pool & Spa - heat exchanger - - - - - - -

R Pool & Spa - Major overhaul - - - 11,500

R Racquetball Court - repairs - - - - - - -

R Roads - sealcoat 37,843 - - - -

R Roads, crackseal (yearly) - 6,510 7,800 - - - -

R Snow Plow - replace - - - - - - -

R Tennis Court repair - - - - - - -

Subtotal Reserve 38,830 6,510 7,800 11,500 - - -


2013 2014 2015 Jun2015 2015 2016 2017

May

2016 Approved Approved ProposedComments


2013 2014 2015 Jun2015 2015 2016 2017


Other

ACC Consulting Expense - - - - - - -

ACC Plan Review Expense - - - - - - -

Audit - - 5,000 5,000 - - -

Bad Debt - - - - - - -

Clubhouse - gutters & heat tape - - - - - - -

Clubhouse - install gas heat - - - -

Clubhouse - Security System 10,162 3,477 - - - -

Clubhouse - Boiler System 33,696 11,363 - - - - -

Clubhouse - Refurnish 12,249 9,284

Drainage improvements - ClbHs 1,010 11,060 - - - - -

Energy Improvements - - - - - - -

Fire Mitigation 21,540 - - - 20,000 20,000 20,000

Plant and tree removal, pruning - 12,229 15,000 15,000 - - -

Pool/Hottub repair - - - -

Racquetball repairs - 1,800 2,491 2,491 - - -

Small Unplanned projects 3,500 - - - -

Solar Project - - - -

Water Meter/Backflow - 1,186 - - - - -

Subtotal Other 66,408 41,138 38,217 31,775 20,000 20,000 20,000

Total Other/Reserve Expense 105,238 47,648 46,017 43,275 20,000 20,000 20,000

Other/Reserve Net Income/(Loss) 10,127 89,766 93,633 105,444 118,782 117,940 115,665

Total Revenue 308,540 345,947 331,253 343,759 330,816 337,224 337,224

Total Expense w/o Depreciation 293,632 245,709 242,369 241,663 212,034 219,284 221,559

Total Net Income (Loss) w/o Depr 14,908 100,237 88,883 102,096 118,782 117,940 115,665

Cash Assets less liabilities- Year End 597,562 694,392 784,617 843,203

Dues/month/owner 250 265 270 270/275 270 275 275


Election of Managers

(Board of Directors)


Unfinished Business?

New Business?


Until Next Year…

Thanks for Listening!


End


Dues Comparison

Summerwood 2016

Operations: $ 157.18

Reserves: $ 117.82(Roads; Pool; Clubhouse;

Road & Driveway Plow;

Home Inspections)

Total: $ 275.00

Keystone Ranch 2015

Operations: $161.00

Reserves: $114.00(Roads; Pool Share; Road Plow)

Subtotal $275.00

Water: $ 40.00

Total: $315.00


$0.00

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Gas/Electric Yearly Total