Margil Farms 2 nd Filing Annual HOA Meeting March 8, 2016 Mead Town Hall

Agenda Call to Order –Quorum Board Introductions Town of Mead Snow and Ice Plan Treasurer’s Report Old Business –Income Overview –Current Financials –Proposed Budget New Business –Issues –Election of officers –HOA annual dues –Other new business Summary Adjourn

Introductions Board President –Herman Schranz Board Vice-President –Open Board Treasurer –Linda Bollig Board Secretary –Cristina Meiers At Large Board Members –Kay Bredvik –Shauna Lloyd Property Manager –Joe Dollarhide

Treasurers Report Current bank account status –$14, Current CD status –$10, By resolution the HOA is required to maintain a minimum of $20,000 in reserve HOA Budget vs Actuals for 2015 HOA Expenses vs Actuals for 2015

2015 Income INCOME2015 BUDGET2015 ACTUALSPROPOSED 2016 BUDGET Association Dues$ 48,620$ Reserve Income$ 500$ 725$ 500 Utility Reimbursement$ 0.00 Late Fees$0.00 Water Reimbursement$ 2,000$ 2,212$ 2,000 Transfer from HOA$0.00 TOTAL INCOME$ 51,120$ 52,002$ 56,730 $ 62,340

Expenses Budget / Actuals Expenses Budget / Actuals EXPENSES2015 BUDGET2015 ACTUALSPROPOSED 2016 BUDGET Insurance$ 1,000$ 816$ 1,000 Back Flow Inspection$ 100$ 85$ 100 Electricity$ 480$414$ 480 Water / Sewer$ 4,200$ 2,953$ 4,200 Trash Service$ 25,668$24,307$ 25,668 HOA Mailings / Billings$ 1,000$ 1,274$ 1,000 Maintenance / Repair$ 500$ 0.00$ 500 HOA Signage$ 250$ 0.00$ 250 Christmas Lights$ 500$ 0.00 Snow Removal$ 3,000$ 2,633$ 3,000

Expenses Budget / Actuals (Cont.) Expenses Budget / Actuals (Cont.) EXPENSES2015 BUDGET2015 ACTUALSPROPOSED 2016 BUDGET Mowing$ 6,200$ 11,951$ 9,160 Fertilize$ 750$ 580 Clean – up$ 900$ 500$ 750 Pruning / Weeding$ 200$ 650$ 200 Sprinkler Repair$750$1,797$750 Landscape replacement$ 2,500$150$500 Park Improvements $ HOA Website$ 240$ 176$240 Professional / Legal Fees$ 2,250$ 2,974$ 3,600 Management Fees$ 7,800 $ 10,200 Total Expenses Surplus / Deficit $ 58,288 $ (7,168) $ 59,060 $ (7,058) $ 62,178 $ $

Issues Architectural Committee requests –Number of submitted requests - 84 Accepted - 78 Denied - 6 Increase in covenant violations –Paint –Trailers –Vehicles –Roofs –Landscaping

New Business Officer Elections –1 Board positions – term conclusion Herman Schranz – President Jessica Paswaters – Vice-President (resignation) –Open position ARC committee (3) HOA annual dues –The HOA Board recommends that the dues be increased as follows: Current = $65/quarter Proposed = $85/quarter –Main Reasons Normal annual cost growth (inflation) Weather related events –Additional mowing –Damaged trees in island at entry Legal fees (contested violations)

Summary According to the HOA bylaws, we are suppose to have an executive board and a group of officers. It is the current boards intent to improve the relationship between the HOA and the homeowners, but this can only be done with involvement from the homeowners. We can accomplish our goals with volunteers, where people contribute a small amount of their time to assist the board. The creation of committee’s to address a particular issue would be extremely helpful. We are expecting a heavy volume of ARC request this year. We encourage everyone to follow the ARC guidelines and submit a form for ANY outside activity you may be planning for this year. Items include paint, roofs, landscaping, fences and any other things you may do outside. It’s your community please get involved

Q & A Questions and Answers