1. Community Association
Annual Meeting
May 7, 2013
JYS Slide
Welcome everyone to our 6th annual meeting since WCA was formed.
Slides by presenter
JYS – 1,2,3,5,6,7,8,9,10,11,19,20,22
TW – 12,13,14,15,16,17,18
ES – 4,21

2. WeatherStone Community Association
Board of Directors
John Stoudt, President
Tom Werner, Secretary
John Smith, Treasurer
Shew Community Management
Ed Shew
Attorney
Holly Setzler, Esq.
JYS Slide
Introductions – speak from slide
John is in Jamaica for his son’s wedding

3. Agenda Budget Review Landscape Update Maintenance Update Pool Update
2012 Audit
2012 Budget Update
2012 Reserve Update
Contract Cost
Delinquency Update
2013 Budget
Landscape Update
Maintenance Update
Pool Update
Snow Removal Update
Trash Removal Update
Election Results
2013 Meeting Dates
JYS Slide
Review the agenda.
Please hold your questions until the end.

4. 2012 Audit Prepared by James McFadden, CPA, CGMA Feasterville, PA
Presented by Ed Shew, WCA Administrator
West Chester, PA
ES Slide
Ed will go over the audit report.

5. 2012 Budget Status: Year-End*
Actual
Budget
Variance
Income
$393,945
$372,296
$ 21,649
Expense
$358,590
$372,227
($13,637)
TOTAL
$35,286
JYS Slide
At the end of 2012 WCA had an excess of $35,181 as noted by the audit. This includes the 2012 surplus of $32,531 plus the 2011 surplus of $2,650.
Some of this will be used to cover expenses to be explained later in this presentation.
Actual surplus of $35,181 - difference due to a bill that came in later 2013.
* As of 12/31/12, therefore unaudited numbers

6. 2012 Reserves Report: Total
Common
Townhouse
Other Items/ Total Reserves
Reserve Actual
$32,500
$35,000
Reserve Budget
Capital Contributions – 2012 YTD
$5,500.00
Interest
$318
$298
$616.47
Reserve Expense
($13,391)*
Total Reserves
$105,643
$103,143
$195,395
JYS Slide
Budget net actual.
$5,500 Initial and Capital Contributions
Interest of $616.47
Expenses as noted.
We have increased townhouse reserve contributions to increase that reserve area.
* Park benches, clubhouse interior painting, tennis court fence, pool furniture

7. * As of 12/31/12, therefore unaudited numbers
2012 – 2013 Budget Comparison
Income
2012 Budget
2012 Actual*
2013
Budget
Common Income
$6,224
$16,575
$4,800
Single Family Income
$202,272
$211,070
$210,523
Town Home Income
$163,800
$166,300
$167,699
Total Income
$372,296
$393,945
$383,022
JYS Slide
The large difference in common income is the result of the Board not budgeting in categories that can not be counted on such as: legal income, club house rental, late fees, etc.
The large difference in single family income budgeted versus actual is due to the number of new home sales on Linden and the monthly fees collected from those homes.
* As of 12/31/12, therefore unaudited numbers

8. * As of 12/31/12, therefore unaudited numbers
2012 – 2013 Budget Comparison
Income
2012 Budget
2012 Actual*
2013
Budget
Common Income
$6,224
$16,575
$4,800
Single Family Income
$202,272
$211,070
$210,523
Town Home Income
$163,800
$166,300
$167,699
Total Income
$372,296
$393,945
$383,022
JYS Slide
The large difference in common income is the result of the Board not budgeting in categories that can not be counted on such as: legal income, club house rental, late fees, etc.
The large difference in single family income budgeted versus actual is due to the number of new home sales on Linden and the monthly fees collected from those homes.
* As of 12/31/12, therefore unaudited numbers

9. * As of 12/31/12, therefore unaudited numbers
2012 – 2013 Budget Comparison
Income
2012 Budget
2012 Actual*
2013
Budget
Common Income
$6,224
$16,575
$4,800
Single Family Income
$202,272
$211,070
$210,523
Town Home Income
$163,800
$166,300
$167,699
Total Income
$372,296
$393,945
$383,022
JYS Slide
The large difference in common income is the result of the Board not budgeting in categories that can not be counted on such as: legal income, club house rental, late fees, etc.
The large difference in single family income budgeted versus actual is due to the number of new home sales on Linden and the monthly fees collected from those homes.
* As of 12/31/12, therefore unaudited numbers

10. 2012 - 2013 Budget Discussion Expense
2012 Actual*
2013
Budget
Administrative Expense
$46,590
$45,500
$48,163
Common Area Expense
$195,877
$185,722
$203,776
Town Home Expense
$62,260
$54,368
$58,695
Reserve
$67,500
$73,000
$72,505
Total Expense
$372,227
$358,590
$383,139
JYS Slide
WCA has been able to control expenditures.
Increase reserves.
Review each column comparing 1 and 2, 2 and 3.
* As of 12/31/12, therefore unaudited numbers

11. 2013 Budget - YTD 2013 Budget - Reserves
Actual
Variance
Income
$95,756
$103,572
$7,816
Expense
$89,765
$82,451
$7,314
Current Year Net Income (Loss)
$15,130
2013 Budget - Reserves
YTD
Common Area
$8,828
Townhomes
$9,298
Capital/Initial Contributions
$3,000
JYS Slide
Note – budget versus the actual – variance.
Highlight pool will drop the number some.
Reserves increasing slightly to move towards target in the Reserve Study.
Capital/Initial Contribution due to new and existing home sales.
The Hankin Group build out will help our finances through initial contributions and full monthly fees once houses are up.

12. Delinquency Update
The WCA rate of delinquency has improved, although there are still delinquent accounts. The timeline for payment, late fees, letters and collection is:
The Association fee is due on the first day of each month.
If payment is not received in the management office by the 30th day of the month, a late fee of $20.00 will be placed on your account.
The first late letter will go out within the first five days of the next month.
If the fee still has not been paid by the end of the second month past due, an additional late fee will be charged to the account and the account will be turned over to legal counsel for collection.
Shew Community Management and our attorney are excellent about following through with delinquent accounts.
JYS Slide
Highlight with no details.
Improved numbers.
A few large open accounts.
SCM and attorney do great job.

13. 2013 Budget Discussion Contract Costs
Landscaping 0% Increase (2013)
Pool % Increase (2014)
Snow (fixed) 0% Increase (2014)
Trash % Increase (2015)
Management 2.5% Increase (2014)
Insurance 24% Increase (2013)
JYS Slide
This slide shows the six contracts we have with the percent change and the year the contract ends.
2% Pool, 2.5% Management are minimal increases.
The insurance – explain.
Low rate for three years
Loss experience – Club House Leak
Very few insurance companies interested in insuring HOAs.
Broker canvassed companies for best pricing.
1 Year policy.
Will try and get multi-year next year.
The trash reduction more than covers the other three increases.
Date indicates end of contract.
Board negotiates/rebids trying to target multi-year contracts.

14. Landscape Update
The following additional landscape work was undertaken in 2012:
Tree and Shrub Replacements – Various Locations
Landscape work around Pool and Tot Lot - Replanting
Separating and Relocation of Plants – Day Lilies/Liriope/Grass
Various Locations Within WeatherStone
Regrading and Over Seeding – Townhome and Butterfly Park
Pond Park – Water Plant Thinning (a cyclic plan)
Paver Replacement at the corner of WeatherStone Park
Repaired a damaged drainage culvert on Pinehurst
TW Slide
Highlight the items.

15. Landscape Work - 2013 Forest Park WeatherStone Park
Ground Cover Cutting and Cleanup
Removal of Dangerous Trees
Cover Paths with Chips
Routine Cutting
WeatherStone Park
Landscape Lighting
Fountain Repair and Lighting
Community Wide in Common Areas
Tree Pruning
Growth Retardant Applied to Selected Trees
Tree Replacement behind Townhome Models
TW Slide
Highlight the items.

16. Maintenance Work - 2012 Extensive Water Damage Repair to Club House
Door Knob Repair at Club House
Permanent Bench Installation - WeatherStone Park
Tennis Court Power Washing
Tennis Court Fence – Lower Rail Added to Control Damage
Tennis Court Signs
Feral Cat Project – 30+ Cats
Fountain Maintenance – Due to Vandalism
TW Slide
Highlight the items.
Comment on vandalism.

17. Maintenance - 2013 Club House Common Areas Waterproof Exterior
Install Carpet – Acoustical Work (walls?)
Common Areas
Wooden Bench Repair
Metal Bench Repainting – No Cost
Street Repairs - Windgate and Fairmont
Barn – Close-in Rafter End Openings
Barn – Downspout Repair
Pool – Refinish Pool Surfaces
Pool – Additional Umbrellas
Concrete Repairs – Butterfly Park and Townhouse
TW Slide
Highlight the items.

18. Pool Update Second Annual Community Pool Party
Continued swim lessons for various age groups
Purchased Additional Tables and Chairs
Planned Activities in 2013
Will offer swim lessons again
Contact Debbie by calling or and enter WeatherStone Swim Lessons in the subject line
Third Annual Community Pool Party
June 22nd from 12:00 p.m. to 4:00 p.m. (rain date is June 23rd)
TW Slide
Highlight the items.

19. Snow Removal Update
Snow removal is a combination of efforts by WVT, the landscaper, and the developer.
WVT maintains our streets.
If you have street concerns contact WVT at
The Hankin Group maintains Linden Drive.
If you have concerns about Linden Drive contact The Hankin Group at
WCA maintains our common area sidewalks and alleys.
If you have concerns contact DiStefano at
WCA is coordinating efforts between WVT and our landscaper to ensure quality snow removal and reduce call backs.
TW Slide
Highlight the items.

20. Trash Removal Update
The biggest issue surrounding trash removal is the consideration of West Vincent Township to have township wide trash collection. The Board is concerned about a reduction in service and the unknown costs associated with the township taking on the trash collection. Gene Briggs is on the Trash Commission representing WCA. Currently the Trash Commission is collecting information to develop options.
TW Slide
Highlight the items.

21. Occupancy Totals Unit Current Planned Town Homes 65 68
Single Family Homes
179
205
Total
244
273
JYS Slide
Highlight the number of occupied units.
Review the cost increase items.
29 Units to go = 3 towns, 14 singles, and 12 estate

22. 2013 Meeting Dates
The remaining Community Board meetings for 2013 will be held on:
May 7, 2013 (Annual Meeting)*
August 13, 2013
November 5, 2013.
The meetings will be held at 7:00 pm in the Club House.
* The Board did this to save WCA the room rental fee at the hotel.
JYS Slide
Go over the meeting dates.
Highlight the time and location.
Cost savings being here.

23. Election Results Ed Shew will announce the results of the election.
ES Slide
Go over the results, highlight who and numbers.

24. We welcome your comments or questions! Thank you for joining us!
JYS Slide

27. WCA Budget Summary 2012 versus 2013
Category
2012
Actual
2013
Income
$393,945
$383,022
Expenses
Administrative Expense
$45,500
$48,163
Operating Expense (SF & TH)
$240,090
$262,471
Total Adm/Oper Exps
$285,590
$310,634
Reserve
$73,000
$72,505
Total Expenses
$358,590
$383,139
JS Slide
The difference in the income versus expense for 2013 is $ This would have been pennies ($0.04) per unit per month) if added to the monthly fees and is not a large issue.

28. Monthly Fee Adjustments
2012 Fees
Town Homes
$210.00
Single Family
$98.00
2013 Fees
Town Homes
$215.00
$5.00 increase
Single Family
$102.00
$4.00 increase
JS Slide
Review the increases.