2013 Annual Meeting
Introduction Roll Call Proof of Notice Minutes of the 2012 Annual Meeting Elections Report of Financials Report of Operations Old/New Business Q&A Adjournment
Greg Lewis – Account Executive Martin Watkins – COO Board of Managers
Patty Viggiano – website, proxies, flyers regarding annual meeting Laura Conti – proxy Lucille Gilbert – proxy Pat Heaney – maintenance and walkway lighting Cliff Purdy – Corral lighting
Tabulation of Quorum Meeting Close/Meeting Open
Approval of 2012 Annual Meeting Minutes Motion to Approve or Waiver Thereof
Nominations from the floor 1 open seat Election
Balance Sheet Report Budget Report Arrears Report
Operating Fund Balances – $8,000 Reserve Fund Balances – $235,000 Total Cash Position – $243,000
Revenue – 258K/254K Operating Expense Electric – 7K/7K Grounds Maintenance – 95K/99K Maintenance and Repairs – 20K/22K General and Admin – 126K/116K Total Operating Expense YTD – 245K/256K
Capital Expense 10K/25K Total Excess in Budget YTD = 28K
Board’s efforts continue regarding collections of delinquent account balances Appx 36K in unpaid Association Dues Board’s Options? File a lien Foreclose on the unit Revoke common area privileges and membership rights
Board executed business judgment as it pertains to risk vs. reward in regards to pursuing delinquent accounts Wage garnishment? Other means of collections without expending Meadows resources Meadows BOD has aggressively pursued arrears and will continue to by any legal means necessary
Repairs and Maintenance has been focused on prolonging the life of the existing Meadows infrastructure The following items have been addressed: Railroad tie wall replacements and rebuilds Privacy fence repairs Large tree pruning project (street visible trees targeted) Underground drainage installed to mitigate flooding and unit damage risk
Cement repairs (walkways) Restriped entire community All light poles re-secured into cement bases (previously in dirt) New cluster boxes were installed Purchased new dumpsters Installed safety lighting in all corrals All proactive versus reactive maintenance
Asphalt repairs 2014 Garbage corral staining and repair Additional drainage work Tree maintenance (yearly) As needed maintenance
Each year the board understands that its needs as a community evolves based on its age, environmental conditions, and budgetary constraints. Increase the capital reserve fund Continue to reduce arrears Increase scope of services without the need for special assessments
The requirement for capital – without it, nothing else is possible Every action taken of behalf of the Board is targeted at increasing the value of your homes Remain partners with the Board and the community – not losing sight of the end game
New Business/Old Business Q&A
Raffle One Month’s Common Charges