1. WELCOME

2. Bois Du Chene HOA AGM May 27, 2015
Board Members
Open Seat President
Darren Eggebrecht Vice President
Jennifer Davis Secretary
Brian Pfitzinger Treasurer
Troy Houck Member at Large

3. AGENDA I. Roll Call and Proxy Certification – need 20%
II. Proof of Meeting Notice – May 5, 2015
III. Reading and Disposal of Unapproved Minutes From 2014 AGM
IV. Reports of Officers
a. President’s Report – Darren Eggebrecht
b. Treasurer Report – Brian Pfitzinger
c. Capital Improvement Projects/Repairs
V. Election via Ballot of Three (3) Directors
VI. Unfinished Business
a. Website – Dan Mingle
b. Security Presentation – Andrea Hurtado
c. Code Violations
VII. New Business
a. Lease/rental contracts 
b. Proof of Insurance
c .Engineering Study
d. Maintenance Schedule
e. Rental Cap
f. Bylaw Amendments
VIII. Adjournment                      
Agenda for AGM per Article 4.8 of the Bylaws

4. Approval of 2014 AGM Minutes

5. Reports of Officers

6. PRESIDENT’S REPORT 2014 total revenue $204,079
Total Current Assets of $188,714 (cash plus pre-paid accounts)
Cash balance $175,877 (2014) vs $180,757 (2013)
No planned assessments or adjustments to the HOA dues are currently planned
Owner/occupied units to rentals in :15 or 27% of the units are rented. Compared to :16 or 31%. Stopping/reversing the property from primarily an owner/occupied to a mixed residency community
Increase in property values, the good and the bad
1,048 sq/ft unit sold for $241,000 ($230 per sq/ft)
1,235 sq/ft unit sold for $284,000 ($230 per sq/ft)
Property taxes are going up

7. 2014 Financial Overview – Balance Sheet
DECEMBER 31, 2014
ASSETS
CURRENT ASSETS
OPERATING FUND
REPLACEMENT FUND
TOTAL
Cash, including, interest-bearing deposits
54,948
120,929
175,877
Assessments receivable, less allowance for doubtful accounts of $ -
2,406
Prepaid insurance
9,995
Prepaid expense - other
436
TOTAL CURRENT ASSETS
67,785
188,714
PROPERTY AND EQUIPMENT, AT COST
Furniture & fixtures
9,062
Less: accumulated depreciation
(9,020)
PROPERTY AND EQUIPMENT, NET 42
TOTAL ASSETS
67,827
188,756
LIABILITIES AND FUND BALANCES
CURRENT LIABILITIES
Accounts payable
6,245
Assessments received in advance
12,578
Note payable - insurance
5,693
TOTAL CURRENT LIABILITIES
24,516
TOTAL LIABILITIES
FUND BALANCES / (DEFICITS)
43,311
164,240
TOTAL LIABILITIES AND FUND BALANCES

8. 2014 Financial Overview – Income Statement
FOR THE YEAR ENDED DECEMBER 31, 2014
REVENUES
Budget
Actual
Variance
Comments
Regular assessments
200,928
Miscellaneous income
200
1,500
1,300
Late/collection charges
2,859
1,341
(1,518)
Interest income
250
310 60
TOTAL REVENUES
204,237
204,079
(158)
OPERATING EXPENSES
Repairs - buildings
9,900
61,844
51,944
$33,585 was for ironwork painting and scraping; $11, for a unit's mold remediation;
$4,489 for pool deck repair
Insurance expense
30,795
28,720
(2,075)
Future Capital Projects
19,200
(19,200)
Monthly Reserve Contribution
42,392
(42,392)
Utilities expense
28,588
28,622 34
Trash removal
11,351
11,509
158
Pool maintenance & repairs
8,273
9,915
1,642
Repairs - fence / gate / walls
2,100
9,662
7,562
Landscaping & lawn maintenance
12,201
9,590
(2,611)
Bad debt expense
8,087
Related to a unit's bankruptcy filing
Porter service
8,400
7,234
(1,166)
Legal & professional fees
3,040
6,744
3,704
$ for website setup
Repairs - plumbing
6,800
6,082
(718)
Management fees
6,000
Repairs - elevator
6,721
4,250
(2,471)
Repairs - lighting
2,000
3,780
1,780
Pest control
3,426
3,319
(107)
Office supplies & admin. costs
727
2,153
1,426
Cable / telephone expense
1,332
2,073
741
Broadlink phone service $135/month;
pool phone service $537 per year
Repairs - other
674
424
Repairs - janitorial supplies 40
(160)
Other
540
515
(25)
TOTAL OPERATING EXPENSES
210,813
6,576
TOTAL NET INCOME
(6,734)

9. ALLOCATION OF 2014 EXPENSES

10. EXPENSE BREAKOUT OF MONTHLY DUES
Example uses monthly dues of $340

11. 2014 CAPITAL IMPROVEMENTS AND COMPLETED PROJECTS
Walkways painted Building 2
Engineering report
Pool deck repaired
Ironwork scraped and painted (except back alley)
New website
Water damage repairs
Gutters and fascia boards repaired
Spa heater and spa pump replaced

12. 2015 PROPOSED OPERATING BUDGET

13. Election of New Directors

14. VOTING ELIGIBILITY
A member (owner) shall be deemed to be in good standing and entitled to vote at any annual or special meeting of members within the meaning of these bylaws, ONLY if the condominium unit is owned by him or her.

15. BOARD MEMBER ELIGIBILITY
Article V-Board of Directors
5.1 NUMBER AND QUALIFICATIONS. The affairs of this Association shall be governed by a Board of Directors composed of at least three (3) persons. The Declarant shall control the Board until such time as fifty percent (50%) of the Units are sold, then in that event at least fifty percent (50%) of the Board shall be comprised of Unit Owners and these Bylaws shall be amended to reflect the new Board.

16. BOARD MEMBER ELIGIBILITY
Article V-Board of Directors
5.4 ELECTION AND TERM OF OFFICE. Subsequent to the sale of fifty percent (50%) of the Units, the Board shall consist of five (5) persons. Upon election, each director shall serve a term of two (2) years. Three (3) Directors shall be elected in odd-numbered years. Two (2) Directors shall be elected in even years. A Director takes office upon the adjournment of the meeting or balloting at which (s)he is elected or appointed and, absent death, ineligibility, resignation, or removal, will hold office until his or her successor is elected or appointed. The number of Directors may be changed by amendment of these bylaws, but shall not be less than three (3).

17. BOARD MEMBER ELIGIBILITY
Article V-Board of Directors
5.5 VACANCIES. Vacancies on the Board of Directors caused by any reason other than the removal of a Director by a vote of the Association shall be filled by vote of the majority of the remaining Directors, even though they may constitute less than a quorum. Each Director so elected shall serve out the remaining term of his or her predecessor.

18. UNFINISHED/NEW BUSINESS
Unfinished business from May 2014 AGM
Balance capital project expenditures and repair costs with a healthy cash position without raising HOA dues or having an assessment
New website
Security cameras
Code violations
New business
Lease confirmation and proof of insurance
Leasehold improvements planning for 2015
Ironwork painting – alley balconies
Regrade and contour soil around buildings 3&4
Fascia board, door thresholds and chimney cap repairs and painting
Leaks and water damage repairs
Weather-proofing stucco
Need current lease count: my count is 14 of 53 units (26%)

19. QUESTIONS

20. MANAGEMENT COMPANY
Watermark Group 3839 McKinney Avenue, # Dallas, Texas Fax Website: