Wentworth Residents’ Association Annual General Meeting March 28, 2007 Title

Agenda Opening Remarks Review Highlights from 2006 AGM 2006 Financial Highlights New Business Maintenance Contractor Selection 2007 Budget Highlights Nominations, Volunteers Directors Auditor Questions

The WRA Board of Directors Directors: Janet Welsh James Waddock Sharleen Traynor Sean Reily Secretary: Sandra Burns Treasurer: Greg Leusink President: Brian Wilson

March 2006 AGM Held on March 14 2006 22 residents in attendance, along with 3 rep’s from Dundee Meeting Highlights: Review by Dundee of Residents Association purpose, scope Ongoing work, obligations by Dundee in 2006 Financial position Election of a new board of directors; resignation of the Dundee board Brief discussion around commercial development in the area

2006 Financial Highlights Assets Liabilities Equity Receipts $29,800 Fees received 287 of 365 homes invoiced (79%) 12 payments from 2005 $307 GIC interest income ----------------------------------- $30,107 Total Receipts Disbursements $23,862 Maintenance costs $2,038 Insurance $100 Property Tax $250 2005 Audit $169 Bank Fees $738 Administration $27,157 Total Disbursements Net Surplus $2,950 Assets $5,314 Cash $8,088 GIC $9,800 Fees Receivable $1,132 Prepaid Insurance $13,000 Land --------------------------------------------- $37,334 Total Assets Liabilities $1764 Mtce. Invoice $ 489 Administration $107 Property Tax $2,360 Total Liabilities Equity $35,106

2007 New Business

Area Maintenance Proposals Services provided by Clarke Property Service throughout 2006, principally administered by Dundee as area FAC process advanced WRA sought competitive proposals in January 2007 from 4 service contractors 3 proposals received in February (one declined to submit) Negotiations commenced with 2 lowest bidders on an equal service basis; resulted in award to Foothills Landscaping; Services commence April 1 Development & execution of a Landscape Maintenance Agreement with City of Calgary underway – some funding available WRA will endeavour to hold fees at new rate of $200 for some years to come

2007 Budget Highlights Expense Estimates $47,000 Base Services $5,000 Plantings $3,000 Snow Removal $2,300 Administration --------------------------------------- $56,500 Total Expenses Revenue Projection 400 houses x $200 x 80% collection = $64,000 50 houses x $100 x 80% collection = $4,000 (mid year move-ins) 2007 Projected Net Surplus $11,500 Sufficient surplus to provide contingency and to consider area enhancements

It’s our Association to structure as we please! Call for Volunteers Don’t just be informed, be involved 4 (four) new Director positions available on Board for several special committees: Communications, web support Fund Raising (e.g. tot lot, additional amenities) Landscape planning & design Special events, social activities Requirement for Auditor It’s our Association to structure as we please!

Moving Forward Working with the Association How to Reach Us Email (website contact form) Directors Bring us your ideas By-law Infractions & Restrictive Covenants

Questions? Concerns? Comments?