1. Welcome Spyglass Landing Condominium Association
2016 Homeowners’ Forum
2017 Budget Presentation
19 December 2016
Ventress Memorial Library – 6:30 – 7:30 PM

2. Meeting Agenda & Schedule
Board and Committee Introductions - 5 minutes
Financial Management Process – 5 minutes
2017 Income – 5 minutes
2017 Expenses - 15 minutes
Q&A – up to 60 minutes
All Materials Presented are posted to the Association Website
Focus of the meeting is the 2017 Budget
Please hold all questions until after the presentation – Thank You
Board Slides - FINAL

3. Introductions
Current 2016/2017 Board of Directors Marcia Walsh– President Jack Prendergast– Vice President & Treasurer Tim Riordan– Vice President – Facilities & Services Kevin Dalton– Vice President – Facilities & services Warren Hermance– Vice President & Clerk
Board Slides - FINAL

4. Introductions
2015 Finance Advisory Committee Deb Springhetti* – Chairman Fred Glennan* – Committee Member Roger Ladd* – Committee Member Sharon Hargraves– Committee Member
* Continuing participation in 2017
New 2017Members – Sharon Hargraves
Board Slides - FINAL

5. Financial Management Process
Annual Budget
Committee
Residents
Management Team
Board
Board Slides - FINAL

6. 2017 Proposed Operating Budget
Board Slides - FINAL

7. What is included in an operating budget?
Revenue/Income
Monthly Condo fees
Interest from Reserves and Investments
Expenses
General/Administrative – Audit, Legal, Management Fees
Grounds Maintenance
WWTP
Repairs & Maintenance – Building
Insurance – General Liability, Umbrella, D&O
Board Slides - FINAL

8. 2016 Income Summary Income 2016 Actual 2016 Projected* 2017 Budget
Association Dues & Interest
$441
$461
Less: Reserve Contributions
Capital Reserves
- $71
- $71
- $82.25
Reserve Study Assessment
$9* $9
-0-
Total Income
$379
$378
Monthly Condo Fee
$438
$458
All numbers are represented in ’00
*Special Assessment $9.1 for Reserve Study
Board Slides - FINAL

9. 2016 Expense Summary Expense Category 2016 Actual 2016 Projected*
2017 Budget
Administrative
$38
$54*
$ (1%▼)
WWTP (w/electric)
$93
$90
$96 (1.5%▲)
Grounds
$156
$144
$165 ( 1.5%▲)
Insurance
$47
$45
$47 ( 0%)
Repairs & Maintenance
$32
$70**
$33 (1%▲)
Total Expenses
$369
$405
$378 (3%▲)
Net Income
$ 1
$-10
All values are represented in ‘000s and are annualized based upon current run rate
9.1 Special assessment used for Reserve Study
**28.4 used from Long Term reserves for Capital Improvements

10. Cost Variances for 2017 Increase in Landscaping due to Mulching ($10)
Snow Removal staying the same as 2016
Increase in Amount collected for Reserves ($10)
Irrigation Contract staying the same as 2016
WWTP expense increasing 3% in 2017 per contract ($1)
All values are represented in ‘000s

11. Question & Answers

12. Thank you for attending today!
Any problems or concerns must be directed to ARBOR for action. They can be contacted at or at
This information is also on our SpyglassLanding.com
The Annual Meeting of the Association will be held in September The schedule will be posted on the website.
Meeting minutes are posted for all meetings held.