1. Homeowners Association Annual General Meeting – April 23, 2018

2. Brook Meadows Homeowners Agenda
Welcome
Call to Order
Quorum Check
Introduction of Directors
Reading of 2017/18 annual meeting minutes
Election of Directors
Review of 2017/18 budget and spending
Presentation of 2018/19 budget
Board Actions
Committee Reports
2018

3. 2017/18 Board of Directors Term Expires:
President – Craig Vaughn /30/17
Vice President – John Schlachter 4/30/17
Secretary – Alice Elkins /30/17
Treasurer – Brandi Talabock 4/30/18
Director at Large – Carmen Ramirez 4/30/17
2018

4. Minutes from April 24, 2017 Annual Meeting
Introduction:
Craig Vaughn called the meeting to order. Quorum was declared with attendance and Proxies. Board members were introduced. Agenda was introduced.
Minutes from previous meeting:
Minutes from last year’s meeting were presented. Motion was made from the floor to approved previous year’s minutes. Motion was seconded and vote carried.
2018

5. Minutes from April 24, 2017 Annual Meeting
Financial overview:
Craig shared previous year’s spending vs. budget. Year-end reserve was reported at $35,784. Water costs came in substantially under budget. Street light budgeted funds were not used. Landscaping expense exceeded budget due to required tree trimming along Glade road.
Street Light Project:
The budget discussion also included the ongoing streetlight project. It was proposed to drop the initiative. Issues cited were expense, getting homeowner buy-in, new lights not matching old lights, etc. Mark Adams volunteered from the floor to make some calls to the city and advise the board on feasibility.
2018

6. Minutes from April 24, 2017 Annual Meeting
Glade Road Project:
A brief discussion ensued on the recent approval of the Glade road project.
Committee Reports:
Craig introduced all committees and their respective chairs. The audience was encouraged to join in committee work. The addition of the book and wine clubs have been well received.
2018

7. Minutes from April 24, 2017 Annual Meeting
Landscape Coordination:
Craig told group that the board would again seek bids for landscaping in
Welcome Committee:
Bridget Moore was announced as the new chair of this committee. Thank you Bridget!
Real Estate Report:
Craig showed area home values continuing to rise with Brook Meadows averaging $159 ft2. Notably, this was the lowest on the list this year – largely due to a specific large property that sold for $90 ft2.
2018

8. Minutes from April 24, 2017 Annual Meeting
Board nominations:
Craig indicated that the terms of all current board members (except Brandi Talabock) were up. He asked floor for nominations. A nomination was made from the floor to elect Alice Elkins to the board as an at-large member. Motion was seconded and carried unanimously. Thank you Alice! Current board members, Craig, John and Carmen all said they were willing to stay in service for another year.
Budget approval:
Budget for 2017 / 18 was proposed. Anticipated expenses were estimated to be just under $40,000 with $51,000 in estimated income. Motion was made to approve budget as presented. Motion was seconded and carried unanimously.
2018

9. Minutes from April 24, 2017 Annual Meeting
Christmas Decorations:
The budget discussion included proposed enhancements to the annual Christmas decorations at the Green Oaks entry. The board included a storage unit in the budget for the upcoming year, as the existing Christmas decorations have become a storage problem. Mark Adams volunteered from the floor to form a committee to investigate and make a recommendation to the board on new Christmas decorations.
Fountain:
Craig discussed the board’s recent decision to reduce expense by eliminating the water feature and make the fountain a planter. There were several questions from the floor, but no objections.
2018

10. Minutes from April 24, 2017 Annual Meeting
Block Party:
A discussion ensued on social events, and it was encouraged that the board consider bringing back the block party, as there are lots of new children in the neighborhood
CC&R Enforcement:
Craig introduced the new guidelines created for CC&R enforcement. A progressive fine structure has been put in place, and has been legally validated and filed with the State. A suggestion from the floor was made to hand distribute these guidelines to every door in the neighborhood. Certified mail was also introduced as a possible option. The board agreed to make a plan to distribute.
2018

11. Minutes from April 24, 2017 Annual Meeting
Poor landscaping:
Walter Aue encouraged the board to use the new fine structure to go after the houses that were not up to standard on landscaping. Craig discussed previous board efforts including personal visits.
CC&R Enforcement:
Craig introduced the new guidelines created for CC&R enforcement. A progressive fine structure has been put in place, and has been legally validated and filed with the State. A suggestion from the floor was made to hand distribute these guidelines to every door in the neighborhood. Certified mail was also introduced as a possible option. The board agreed to make a plan to distribute.
2018

12. Elections Four new board members needed!
Two year term
Volunteers / Nominations from the floor

13. Brook Meadows HOA– April 20, 2018
Finance report
2018

14. Finance Report 2018 /2019
2016/2017
Budget
Actual
Variance
Income
$51,125
$51,506
$381
Expense
$34,420
$25,922
$8,498
Net Income
$16,705
$25,584
$8.879
Utilities ran less than budgeted - water $8k Electricity $1k
Street Light project deferred $3k.
YE 3/31/17
Cash Balance
$61,946

15. Finance Report 2017 / 2018 Landscaping Review For the year ending
3/31/2017
03/31/2018
Landscaping Budget
$15,000
Actual Spend
$18,324
$13,784
Variance (Over)/Under
$(3,324)
$1,216

16. Brook Meadows Homeowners Budget Proposal 2018/19
2014/15
2015/16
2016/17
2017/18
2018/19
Actual
Budget
Income
$58,695
$46,224
$51,125
$51,506
Expense
$76,462
$37,308
$44,820
$25,922
$43,020
--without construction
$37,077
Net Income/(Loss)
($17,767)
$8,916
$6,305
$25,584
$8,105

17. 2018/19 Budget Detail Income 2018-2019 Budget Comments
Current Year Dues
$50,625
135 $375/home
Resale
$500
5 $100
Total Income
$51,125
Expenses
Administrative
$6,120
CPA, Meetings, Postage, Website
Improvements $0
Committees
$24,900
Landscape, Fountain, Communications
Insurance
$2,500
Legal & Professional
$5,000
Utilities
$4,500
Electricity, Water
Total Expense
$43,020
Net Income/(Loss)
$8,105

18. Items Impacting 2018/19 Budget
Web Site
Landscaping services
Holiday lighting
Legal Fees

19. Committee Reports

20. Welcome to Brook Meadows!
Each new neighbor is personally welcomed by Bridget Moore
9 neighbors welcomed in 2017
1 neighbor welcomed so far in 2018
Each new neighbor receives:
A unique basket filled with local “Tex-Mex” goodies
The latest Brook Meadows directory
An overview of our neighborhood goings-on
An introduction of their family published in the Brook Meadows Messenger newsletter

21. Social Committee Halloween Parade with Colleyville Fire Department
Fall Patio Party
Ladies Ornament Exchange
Toy Drive/ Train Exhibit with Stan Pirzchalski
Holiday Party
Garage Sales for Fall and Spring (May 6th this year)
Last Tuesdays (May 30 at Dallas Craft)

22. Book Club / wine club

23. Architectural Review Committee (ARC) Report
In 2017 there were 8 PMR applications filed with the ARC.
All requests were approved in 2.5 days or less
Problems with getting forms from website (under construction)
Please complete a PMR as appropriate if you are planning any property modifications

24. Come join us at an event this year!
Last Tuesday
A special shout out to Brett Flournoy for his dedication to our Last Tuesday gatherings
This is a unique BM function that allows folks to gather, socialize and get to know one another while supporting a local restaurant
In 2017 Brett organized a Men’s “BS” exchange at Ron’s Tavern in Bedford. This was the male equivalent of the ladies ornament exchange and was a big success. It will be repeated in 2018.
Come join us at an event this year!

25. Landscape Coordination
Walter Aue is our coordinator on landscape issues.
The board has asked Walter to seek bids for landscape services in 2018.

26. Electronic Newsletter
Thanks to Brad Jensen for taking on the role of editor and to all those who contribute
If anyone has items they want to communicate to the neighborhood you can do this via our monthly newsletter
Articles of a general nature, advising of neighborhood or Colleyville functions, etc. are encouraged.

27. Brook Meadows Real Estate Report
Brook Meadows 2017 $/square foot on sold properties once again surpassed all surrounding neighborhoods.
2014
2015
2016
2017
Sub-Division
# Sold
Price/sq ft
Brook Meadows 12
$143.16 8
$152.34 7
$139.18
$161.02
Ashmore 5
$131.40 6
$143.35
$155.91
$156.24
Summertree
$133.96
$144.96
$152.98 $
Summerbrook 2
$141.09 1
$147.22 4
$196.16 3
$159.26
Woodland Hills 31
$126.07 24 18
$148.14 21
$150.60

28. Brook Meadows Real Estate Report
In 2017 Brook Meadows also lead the area with sales made closest to asking price.
Average
Sub-Division
# Sold
% of asking
Sale price
Brook Meadows 7
98.85%
$ ,071
Ashmore 5
96.36%
$ ,900
Summertree 8
97.31%
$ ,938
Summerbrook 3
96.64%
$ ,330
Woodland Hills 21
98.26%
$ ,400

29. Adjourn
Thanks for keeping Brook Meadows an outstanding neighborhood!