1. June 14, 20121 The Summit at Lake Norman POA – Property Owner’s Association Semiannual Meeting/ Status This presentation will probably involve audience discussion, which will create action items. Use PowerPoint to keep track of these action items during your presentation In Slide Show, click on the right mouse button Select “Meeting Minder” Select the “Action Items” tab Type in action items as they come up Click OK to dismiss this box This will automatically create an Action Item slide at the end of your presentation with your points entered.

2. June 14, 20122 Building On Yesterday Agenda Year To Date (YTD) Activities  Accomplishments  In Process  Unsuccessful Financials  YTD Expenses  Net Worth  Budget Going Forward In Closing

3. June 14, 20123 YTD Activities Accomplishments Summary Developed & Documented Forms/Processes HOA Structure  Roles & Responsibilities Calendar  Month by month listing & tracking Request For Proposal  Tool for determining the best supplier Purchase Order  Competitive Bidding - Services  Single/Sole Source – Emergencies/low $ items  Bid Analysis – Web/catalog buying Tracking Mechanism (History)  Projects  Financials  Year by Year data Instituted Quarterly Community Newsletters Semiannual POA meetings

4. June 14, 20124 Accomplishments Summary (cont’d) New lawn maintenance provider Bone's Yard Care Solutions, LLC New management Company Bumgardner Association Management, Inc Completed Projects 1) Main Entrance Flag Pole 4) Phase 4 – Guardrail Repair

5. June 14, 20125 In Process Projects 2) HOA owned/controlled website  In development stage  Will improve communication within the community  Any volunteers with experience? 3) Lawn/Bench Seat Swing Set  Ordered & Received  Needs to installed – looking for volunteers 6) Phase 4 – 2 corner guardrails  Purpose: protect road  Aesthetically pleasing (one w/ nature)  Bids received ….. Awaiting installation  Minor landscaping beautification/improvement ….. TBD

6. June 14, 20126 Unsuccessful Endeavors Audit Activities Quote: $25K  Option 1: Michael Hollar (CPA) - (May 16) –Calls it a different name (more of a look see) –Will Get back to the POA with feasibility & if applicable, price  Option 2 ….. New Mgt. Co has contacts –In Scope of Work to supply …. Pass through cost –Smith & Black CPAs – Does HOA reviews

7. June 14, 20127 Financial Information YTD Expenses (April) Electric$1,954.92 Water$140.47 Mgt. Co. Fees$2,893.34 Lawn Mowing$0.00 Site Maint.$112.39 Community Upgrades$1,450.00 Lawyer$0.00 Accountant (taxes)$400.00 Internet Services$60.00 BOD's Office Supplies$298.74 Insurance$953.00 $8,262.86

8. June 14, 20128 Net Worth Phase 4 Reserve Actual Net Worth Growth or Loss January$62,631.95$41,141.71$21,490.24 February$66,877.20$41,141.71$25,735.49$4,245.25 March$70,190.69$41,141.71$29,048.98$3,313.49 April$71,703.46$43,280.71$28,422.75($626.23)

9. June 14, 20129 YTD Budget Analysis HOA BudgetYTD ActualsDelta INCOME $36,900 $21,926.80 ($14,973.20) ADMIN. EXPENSES ($9,200) ($4,605.08)$4,594.92 BUILDINGS & GROUNDS EXPENSES ($11,000) ($112.39)$10,887.61 COMMUNITY UPGRADES (PARK/ETC) ($500) ($1,450.00)($950.00) UTILITY EXPENSES ($6,000) ($2,095.39)$3,904.61 2012 RESERVE BUDGET R1 Operational & Cash/Savings ($1,200) ($8,182.24)($6,982.24) R2 Phase 4 ($9,000) ($5,481.70)$3,518.30 Budget Balance $0 $0.00

10. June 14, 201210 Financially Continue to aggressively seek out savings/low cost methods & suppliers  More savings, more upgrades $28,000 in net worth (assuming a no growth net worth)  $15,0000 … Emergency money (minimum balance)  $2,500 ……. 2012 improvements  $4,000 ……. 2013 improvements  $4,000 ……. 2014 improvements  $2,500 ……. 2015 improvements Potential Projects Improve on park usability  Fire pit upgrade  Saturday night movies  Lights (need estimate) Site Improvements (2013) … Flagpole for Phase 4 entrance ($250)  Monument upgrades ….. Reduce yearly maintenance/upkeep Going Forward

11. June 14, 201211 In Closing Written Comments in back Suggestions Feedback Questions & Answers