FOUR SEASONS AT SEA OAKS HOMEOWNERS’ ASSOCIATION, INC. (“SOHOA”) FINANCIAL STATUS O’Rourke “discussion points” Board of Trustees Meeting December 5, 2007

SOHOA – MONTHLY DUES 2006$ $153 Finance Committee – 2008$172 DPM – 2008$170 Proposal by Trustees $165

SOHOA 2007 SUMMARY CASH FLOW REVIEW CHANGES FROM BUDGET Revenues $ (8,000) Expenditures: –Lawn Maintenance $ (28,000) –Snow Removal $ 30,000 –Gen’l Maintenance (deferred) $ (22,000) –Other $ (2,000) –Water Cost Deferred to 2008 $ (30,000) CASH FLOW VARIANCE $(60,000) Monthly Dues Effect$13.30

SOHOA – WORKING CAPITAL

SOHOA - $165/mo - RISKS

SOHOA – “OPPORTUNITIES”

SOHOA – SERVICE LEVELS Reduce Mowing$10,000 Don’t mulch “street trees”$ 8,000 Reverse decision re: lawn treat$ 5,000 Close Indoor Pool – Jan & Feb$ 6,000 Reduce Lifeguard Times$ 6,000 Reduce On-Site Manager Time$10,000 All Above$45,000

SOHOA – ACTION TARGETS Conserve Water – re-examine irrigation schedule Review all service contracts for cost reduction opportuinties Re-examine lawn cutting schedule Investigate reduction in lifeguard hours Examine Requirement for Full-Time Property Manager ? ?

SOHOA – MONTHLY DUES 2006$ $153 Finance Committee – 2008$172 DPM – 2008$170 Proposal by Trustees $165

SOHOA Summary Financials