1. Homeowner Meeting April 11, 2012

2. Ken Waterman President Steve LunderganTreasurer Sue HaverstickSecretary Patty FergusonCommittee Member Rich DurbinCommittee Member Kevin HunterCommittee Member Mike GaballyCommittee Member

3. 2011 Results Revenues $117,763.02 Operating Expenses$ 87,632.82 Gross Income$ 30,130.20 Project Costs$ 52,921.19 Net Deficit for 2011 $ 22,790.99

4. Pool Improvements  Pool Surface Concrete Repairs $ 7,600.00  Deposit For Pool Surfacing $ 1,846.00  Chemical Tanks/New Pad $ 3,850.00  New Pump $ 7,595.00  New Electric Wiring Throughout$ 3,600.00  Re-plumb Pool Room And Baths $ 726.25  New Locks For Pool $ 318.80 Total Pool Improvements $ 25,536.05

5. Entrance Improvements $ 16,297.11 24 Cul-de-sacs/Pool/ Tennis (26 areas)$ 11,088.92 $ 27,386.03 Average per area was $426.50 Total 2011 Project Costs=$52,922.08

6.  Pool Bottom Plastered$ 35,000.00  Retention Basin Repaired$ 17,500.00  Tennis Courts Repaired$ 12,000.00  Parking Lot Sealed$ 2,200.00  Completion of Cul-de-sacs$ 3,000.00 Total Project Costs $ 69,700.00

7. 2012 Budget Revenues $117,709 Operating Expenses$ 93,130 Gross Income$ 24,579 Project Costs$ 69,700 Net Deficit for 2012$ 45,121

8.  At 12/31/2011 ◦ Ending operating surplus at 12/31/11 $18,142.00 ◦ CD #1 - 11/06/2016 -.95% $40,109.51 ◦ CD #2 - 11/10/2015 - 1.75% $12,414.60 ◦ CD #3 - 05/26/2013 - 2.66% $12,846.19 ◦ Checking Account #1$25,001.02 ◦ Checking Account #2 $ 4,212.86 ◦ Capital Reserves at 12/31/2011 $112,726.18 2012 Net Deficit - $45,121.00 Anticipated Reserves at 12/21/2012 $67,605.18

9.  The 2011 & 2012 re-investment in Timberwood Trails will be $122,622.  At December 2012, Capital Reserves will be depleted to approximately $67,605.  Reserve Reimbursement Plan to be implemented in January of 2013.  By December of 2014 our minimum goal is to replenish reserves back to over $100,000.

10.  Social Committee ◦ Chair – Heather Mellor  2012 events  Welcome Wagon  Pool Committee ◦ Co-Chairs – Ken Waterman & Kevin Hunter  2012 Hours: Sun – Thurs 11 to 8pm / Fri - Sat 11 to 10pm  Pool Cards & Emergency Contact Forms  Rules  Tennis Court Oversight

11.  Website www.timberwoodtrails.netwww.timberwoodtrails.net ◦ Calendar ◦ Registrations  Gmail timberwoodtrails@gmail.comtimberwoodtrails@gmail.com ◦ Distribution list is now at 156  Signage at Entrances