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Wentworth Residents’ Association

Annual General Meeting

April 2, 2009

www.mywentworth.com [email protected]

Agenda

• Opening Remarks

• Review Highlights from 2008 AGM

• 2008 Financial Highlights

• New Business

– 2009 Operating Budget

– 2009 Planning

– Nominations & Elections for Directors

– Open Floor for General Membership Discussion


The WRA Board of Directors

• Directors: Liana Zingle Greg Leusink

David Klug

Vacant

Vacant

• Secretary: Vacant

• Treasurer: Derek Lynn

• President: Vacant


March 2008 AGM

• Held on March 12 2008

• 15 residents in attendance

• Meeting Highlights:

– Review of financial position

– Acquisition of area maintenance &

landscaping services

– General call for volunteers to serve as

directors


2008 Financial Review

Highlights

Financial position is sound

Current cash balance minus accounts payable is $31,000

2008 actual surplus was $3,000 less than budgeted due to higher than budgeted maintenance fees


2008 Financial Review

2008 Budget

2008 Actual

Difference

Revenue $74,000 $74,150 $150

Expenses $65,200 $68,484 $3,284

Net Surplus $8,800 $5,866 -$3,134


2008 Revenue Detail

• Invoiced $96,800• Received payments of $70,000 for current year fees• Received payments of $4,150 from previous years• Total revenue $74,150• Payment rate 72%


2009 New Business


2009 Budget OutlookExpense Estimates

$49,500 Base Services $8,000 Plantings $8,000 Snow Removal $1,400 Insurance $100 Property Tax $3,000 Administration (invoicing)---------------------------------------

$65,000 Total Expenses

Revenue Projection

500 houses x $200 x 70% collection = $70,000

2008 Projected Net Surplus

$5,000

Sufficient cash flow to provide contingency and to consider area enhancements without further Fee increase in 2009


Association Plans for 2009

• Landscape Maintenance Agreement recently executed with City of Calgary, permits collection of allocated funds from City maintenance budget

• Impose a $50 yearly administration fee for all late payments

• Continuation of maintenance services through Foothills

Landscaping

• Addition of area amenities (trash cans, benches)

• Increase focus on plantings (expanded beds, seasonal

bulbs)


Call for Directors

• 2 year terms expiring for several board

members

• Association requires several candidates

for specific executive functions:

– Secretary

– President

• 2 year terms

• Floor open for nominations & voting


Moving Forward

• Working with the Association• How to Reach Us

– Email (website contact form)

– Directors

• Bring us your ideas


Questions? Concerns?Comments?

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