Title Wentworth Residents’ Association Annual General Meeting March 12, 2008

Agenda Opening Remarks Review Highlights from 2007 AGM 2007 Financial Highlights New Business –2008 Operating Budget –2008 Planning –Nominations & Elections for Directors –Open Floor for General Membership Discussion

The WRA Board of Directors Directors:Janet Welsh James Waddock Sharleen Traynor Sean Reily Ryan Remington Suzi Vadori David Klug Secretary: Sandra Burns Treasurer:Greg Leusink President: Brian Wilson

March 2008 AGM Held on March residents in attendance Meeting Highlights: –Review of financial position –Association fee increase –Acquisition of area maintenance & landscaping services –General call for volunteers to serve as directors

Financial Review Highlights  2007 Budget was met with a surplus of $11,239  Online Payment Method implemented in April over 80 online payments received in  Annual Fee increased from $100 to $200 per household  Collection rate increased to a record 88%. (thank you)  A large accounting firm generously offered to review our financials (pro bono).

Income Statement (YE Feb 29 ’08) (preliminary) Receipts $72,000 Fees received $151 GIC interest income $72,151 Total Receipts Disbursements $55,581 Maintenance costs $3,752 Administration $1,399 Insurance $109 Property Tax $71 Bank Fees $60,912 Total Disbursements Net Surplus $11,239 Ended the year with a surplus of $11,239 thanks to strong payment rate from residents. The $200 fee was required. Holding fees at $100 would have resulted in a $20-25,000 deficit, likely folding the association. Further fee increases probably not required in foreseeable future

Assets  $24,274Cash  $13,000Fees Receivable  $933Prepaid Insurance  $22,500Land $57,707Total Assets Liabilities  $1,329Mtce. Invoice  $542Administration  $98Property Tax $1,969Total Liabilities Equity  $56,738 We have a strong cash position to deal with contingencies No debt Well positioned for Balance Sheet (YE Feb 29 ’08) (preliminary)

New Business

Budget Outlook Expense Estimates  $49,000 Base Services  $5,000 Plantings  $3,000 Snow Removal  $1,400Insurance  $100Property Tax  $3,800 Administration $62,300 Total Expenses Revenue Projection  420 houses x $200 x 88% collection = $74, Projected Net Surplus  $11,700 Sufficient cash flow to provide contingency and to consider area enhancements without further Fee increase in 2008

Association Plans Landscape Maintenance Agreement recently executed with City of Calgary, permits collection of allocated funds from City maintenance budget 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 –Treasurer –President 2 year terms Floor open for nominations & voting

Moving Forward Working with the Association How to Reach Us – (website contact form) –Directors Bring us your ideas

Questions? Concerns? Comments?