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Meadows at Chapel Hill

Meadows at Chapel Hill. 2013 Annual Meeting . Agenda . Introduction Roll Call Proof of Notice Minutes of the 2012 Annual Meeting Elections Report of Financials Report of Operations Old/New Business Q&A Adjournment . Introduction. Greg Lewis – Account Executive Martin Watkins – COO

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Meadows at Chapel Hill

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  1. Meadows at Chapel Hill 2013 Annual Meeting

  2. Agenda • Introduction • Roll Call • Proof of Notice • Minutes of the 2012 Annual Meeting • Elections • Report of Financials • Report of Operations • Old/New Business • Q&A • Adjournment

  3. Introduction • Greg Lewis – Account Executive • Martin Watkins – COO • Board of Managers

  4. Recognitions • Patty Viggiano – website, proxies, flyers regarding annual meeting • Laura Conti – proxy • Lucille Gilbert – proxy • Pat Heaney – maintenance and walkway lighting • Cliff Purdy – Corral lighting

  5. Roll Call • Tabulation of Quorum • Meeting Close/Meeting Open

  6. Minutes • Approval of 2012 Annual Meeting Minutes • Motion to Approve or Waiver Thereof

  7. Elections • Nominations from the floor • 1 open seat • Election

  8. Financial Report • Balance Sheet Report • Budget Report • Arrears Report

  9. Meadows at Chapel Hill

  10. Balance Sheet • Operating Fund Balances – $8,000 • Reserve Fund Balances – $235,000 • Total Cash Position – $243,000

  11. 2013 YTD Budget Analysis • Revenue – 258K/254K • Operating Expense • Electric – 7K/7K • Grounds Maintenance – 95K/99K • Maintenance and Repairs – 20K/22K • General and Admin – 126K/116K • Total Operating Expense YTD – 245K/256K

  12. 2013 Budget analysis Cont., • Capital Expense • 10K/25K • Total Excess in Budget YTD = 28K

  13. Aged Receivable Report • Board’s efforts continue regarding collections of delinquent account balances • Appx 36K in unpaid Association Dues • Board’s Options? • File a lien • Foreclose on the unit • Revoke common area privileges and membership rights

  14. Collections efforts Cont., • Board executed business judgment as it pertains to risk vs. reward in regards to pursuing delinquent accounts • Wage garnishment? • Other means of collections without expending Meadows resources • Meadows BOD has aggressively pursued arrears and will continue to by any legal means necessary

  15. Operations Report • Repairs and Maintenance has been focused on prolonging the life of the existing Meadows infrastructure • The following items have been addressed: • Railroad tie wall replacements and rebuilds • Privacy fence repairs • Large tree pruning project (street visible trees targeted) • Underground drainage installed to mitigate flooding and unit damage risk

  16. Operations report Cont., • Cement repairs (walkways) • Restriped entire community • All light poles re-secured into cement bases (previously in dirt) • New cluster boxes were installed • Purchased new dumpsters • Installed safety lighting in all corrals • All proactive versus reactive maintenance

  17. Future Projects • Asphalt repairs 2014 • Garbage corral staining and repair • Additional drainage work • Tree maintenance (yearly) • As needed maintenance

  18. 2014 Mission Statement • Each year the board understands that its needs as a community evolves based on its age, environmental conditions, and budgetary constraints. • Increase the capital reserve fund • Continue to reduce arrears • Increase scope of services without the need for special assessments

  19. Closing Comments • The requirement for capital – without it, nothing else is possible • Every action taken of behalf of the Board is targeted at increasing the value of your homes • Remain partners with the Board and the community – not losing sight of the end game

  20. Question and Answer • New Business/Old Business • Q&A

  21. Adjournment • Raffle One Month’s Common Charges

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