1. PCHA Treasurer’s Report Plymouth Commons Homeowners’ Association 2009 Annual Association Meeting Treasurer's Report Rebecca Ufford February 16, 2009

2. PCHA Treasurer’s Report 1. Current Status 2. 2004-2008 Financial Statements 3. Moving Forward Topics

3. PCHA Treasurer’s Report Current Status Approved Budget—90 homes are participating in votes

4. PCHA Treasurer’s Report Current Status Approved Budget—90 homes are participating in votes Controls on Financial Spending Board approval on all outgoing funds prior to commitment Dual signature required Checks and Balances

5. PCHA Treasurer’s Report Current Status Approved Budget—90 homes are participating in votes Controls on Financial Spending Board approval on all outgoing funds prior to commitment Dual signature required Checks and Balances Regular monthly Treasury Report to PCHA Board

6. PCHA Treasurer’s Report Current Status Approved Budget—90 homes are participating in votes Controls on Financial Spending Board approval on all outgoing funds prior to commitment Dual signature required Checks and Balances Regular monthly Treasury Report to PCHA Board U.S. Taxes Prepared and Filed No tax burden deemed required for 2004-2007 Tax payment will be necessary for 2008

7. PCHA Treasurer’s Report Current Status Approved Budget—90 homes are participating in votes Controls on Financial Spending Board approval on all outgoing funds prior to commitment Dual signature required Checks and Balances Regular complete monthly Treasury Report to PCHA Board U.S. Taxes Prepared and Filed No tax burden deemed required for 2004-2007 Tax payment will be necessary for 2008 Association Records All records known to exist to association business have been consolidated and organized in logical method

8. PCHA Treasurer’s Report 2004-2008 Financial Statements Extraordinary expenses in 2008: Banking Fees$1,115.00 Research fees, prior year statements, check copies Professional Fees$6,424.50 Accounting, Legal from 2007 and 2008 1Q Removing these items brings 2008 expenditures to $23,632.00 Per lot burden $181.00

9. PCHA Treasurer’s Report 2004-2008 Financial Statements Extraordinary expenses in 2008: Amount due from Member (Footnote #3 of Exhibit C in compilation) $44,958.57 was returned to PCHA during 2007 and 2008 by Bhru Patel (principal amount) $9,007.21 was received by PCHA in 2008 from Bhru Patel (interest amount)

10. PCHA Treasurer’s Report 2004-2008 Financial Statements Extraordinary expenses in 2008: Amount due from Member Items in process – Small Claims issue of $3500—details later in meeting $1100 in banking and research fees $2400 in accounting work that had to be completely redone

11. PCHA Treasurer’s Report Moving Forward Formalized procedures for Treasurer position being drafted for Board approval Homeowner's Association Members rights—include all records available at regular monthly board meetings and by appointment, please!!

12. PCHA Treasurer’s Report Moving Forward Formalized procedures for Treasurer position being drafted for Board approval Homeowner's Association Members rights—include all records available at regular monthly board meetings and by appointment, please!! Volunteers required!! Special thanks to Ric Borsos, Finance Committee Members: Brahm Kataria, Phil and Michelle Bourassa, Frank Del Col, Rebecca Ufford; Diane Harrison Thanks to others who have helped: Lois Heikkinen, Jean Hannon, Don Ufford

13. PCHA 2009 Annual Meeting 2009 Update/Outlook -Results of Voting -Next Steps, Implementation -PCHA Cash Position -2009 Elections -Reach Out - Volunteers

14. Results of 2009 Vote and Spending Proposals Budget and Proposals 1.2009 Operating Budget 2.Management Co. Proposal 3.$100 dues for 2009 4.Entrance Beautification Entrance Beautification 57 – 32 Passed Management Co. 44 – 44 Not Passed Dues Reduction 63 – 26 Passed Quorum Achieved – 90 ballots were received, 87 (or 2/3rds of the lots) being required for quorum. Operating Budget 79 – 5 Passed

15. Previous Polling Proposal Results All homeowners were given an opportunity to voice support for commons improvements. Three specific areas were highlighted with the following results: 1.Wandering pathways through commons at $100K: Yes 26%; No 74% 2.Picnic tables in commons at $500/table: Yes 13%; No 88% 3.Volleyball sand courts at $2000 per court: Yes 16%, No 84% Playground equipment requires significant insurance, Install and Maintenance.

16. Implementation of 2009 Budget Next Steps Operating Budget

17. Implement the 1 year reduction in Association Membership Dues Next Steps Proposal #2

18. Implementation of Entrance Beautification Next Steps Proposal #3

19. Updated PCHA Cash Position Amount in Reserve $ 97,000 Subtract Previous Tax penalty payments (if necessary) $ (14,400) New Reserve Amount in 2009$ 82,600 Subtract Proposal #2Reduce Dues in 2009 to $100 $ (16,900) New Reserve Amount in 2009 $ 65,700 Subtract Proposal #3Entrance Beautification Project $ (40,000) New Reserve Amount in 2009 $ 25,700 Add2009 Dues Collections$ 13,000 New Reserve Amount in 2009$ 38,700 Subtract2009 Operating Budget$ (29,677) Final Reserve Amount in 2009$ 9,023 The cost difference of 130 lots @ $100 versus $230

20. 2009 Elections Any director would be expected to sign the conflict of interest policy. Vote will be conducted during the month of March. First meeting of the newly elected officers to be held on April 13. Two openings one 3 - year term one 1 - year term (Christine Bodies' remaining term). Exact dates will be distributed after March 9 (our next Board Meeting)

21. Volunteers Your association needs volunteers for the following: 1.Architectural Review Committee – Restrictions and Compliance 2.Bookkeeping Support 3.Entrance Beatification 4.Roads Maintenance Sub-Committee 5.Social Sub-Committee Sign up sheets available, or just send the board an email.

22. You can please some of the people some of the time… But you can’t please all of the people all of the time.

23. Brinton Baker - Secretary

24.  Your best way of keeping up on what’s happening in the association  Contents of All Minutes ◦ Checks Paid ◦ Account Balance ◦ All Board votes taken  Distribution ◦ Immediately via email ◦ Within two weeks via printed distribution

25.  Contents ◦ Relevant subdivision/town news items ◦ Non-urgent Board communications ◦ Homeowner-generated topics  Distribution ◦ Roughly Quarterly ◦ Immediately via email ◦ Within two weeks via printed distribution

26.  Board receives many homeowner emails  Two-Tier Response ◦ Those that are brief and straightforward can be answered directly and immediately ◦ Those that are more complex, or that require a Board discussion, will be brought up at the new Board meeting under “New Business” and addressed  Please be understanding - remember that we are a volunteer board with full-time jobs!

27.  Strategy: Get something up as promptly as possible and enhance it going forward  Planned Content ◦ Resources: minutes, newsletters, by-laws, covenants & restrictions, maps, key contacts, meetings schedule ◦ Homeowner Directory: publicly available information (names), home-owner specified contact information & personal information ◦ Contractor Central: single place for contractors to find available contracts, statements of work

28.  Please provide one or more email addresses!  Providing your email address ensure prompt receipt of all official PCHA communications