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Wentworth Residents' Association Annual General Meeting Agenda – March 24, 2010

Join us for the Wentworth Residents' Association Annual General Meeting on March 24, 2010, at West Springs Co-op. This meeting will cover highlights from the 2009 AGM and financial review, the operating budget for 2010, and plans for area enhancements. We will also discuss nominations for directors and open the floor for general membership discussion. Your participation is essential for our community's growth and engagement, so we encourage resident involvement and input. For questions, contact us at wentworth@gmail.com.

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Wentworth Residents' Association Annual General Meeting Agenda – March 24, 2010

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  1. Title Wentworth Residents’ Association Annual General Meeting March 24, 2010 West Springs Co-op

  2. Agenda • Opening Remarks • Review Highlights from 2009 AGM • 2009 Financial Highlights • 2010 • Operating Budget • Planning • Nominations & Elections for Directors • Open Floor for General Membership Discussion

  3. Board of Directors • Directors*: Sean Reily David Klug James Istvanffy • Secretary*: Liana Zingle • Treasurer*: Derek Lynn • President*: Greg Leusink * Denotes a vacancy for 2010.

  4. 2009 AGM Review • Held on April 2, 2009, at the Co-op • 6 residents in attendance • Meeting Highlights: • Review of financial position • Extension of area maintenance & landscaping services contract • General call for volunteers to serve as directors • Introduced $50 Admin fee for delinquent accounts

  5. 2009 Financial Review Highlights • Financial position is sound • Current cash balance minus accounts payable is $37,110 • 2009 actual surplus was $9,278 • $9,278 higher than budgeted due to higher than budgeted payments

  6. 2009 Financial Review

  7. 2009 Revenue Detail

  8. 2009 Expense Detail • Total expenses $70,057 • $8,166 Snow removal • $58,371 Grass cutting, garbage removal, watering, and planting • $2,092 Invoicing and other administration costs • $1,299 Insurance • $129 taxes

  9. 2010 New Business

  10. 2010 Budget Outlook Expense Estimates • $49,500 Base Services • $2,600 Plantings • $6,400 Extra watering and maintenance • $8,000 Snow Removal • $1,400 Insurance • $100 Property Tax • $2,000 Administration (invoicing) --------------------------------------- $70,000 Total Expenses Revenue Projection • 575 houses x $200 x 70% collection = $80,500 2008 Projected Net Surplus • $10,500 Sufficient cash flow to provide contingency and to consider area enhancements without further Fee increase in 2010

  11. Plans for 2010 • Continuation of maintenance services through Foothills Landscaping. Rates held at ’09 levels • Enhancements • Focus on plantings (expanded beds, seasonal bulbs) • Sod over “burial plots” on Wentworth Drive • Renew bushes along 85th street fenceline • Prune and mulch around some trees • Paint black metal fences • Collect funds from Landscape Maintenance Agreement with City of Calgary, from City maintenance budget. • Continue $50 yearly administration fee for all late payments • Addition of area amenities (trash cans, benches) • Approach Wexford to merge into the Association

  12. Call for Directors • 2 year terms expiring for several board members • Association requires several candidates for specific executive functions: • President, Treasurer, and Secretary • Floor open for nominations & voting

  13. Moving Forward • Working with the Association • How to Reach Us • www.mywentworth.com • contact.wentworth@gmail.com

  14. Questions? Concerns?Comments?

  15. 2009 Income Statement(YE Feb 28 ’09) (preliminary) • Ended the year with a surplus of $9,278 thanks to strong payment rate from residents. • The $200 fee was has allowed the association to operate with a small surplus. This will ensure we can continue without a fee increase for a few years. • Further fee increases probably not required in foreseeable future Receipts • $79,355 Fees received • $0 interest income ----------------------------------- $79,355 Total Receipts Disbursements • $66,538 Maintenance costs • $2,092 Administration • $1,299 Insurance • $129 Property Tax ----------------------------------- $70,057 Total Disbursements Net Surplus • $9,278

  16. 2009 Balance Sheet (YE Feb 28 ’09) (preliminary) Assets • $44,783 Cash and cheques • $70,385 Fees Receivable • $22,500 Land --------------------------------------------- $137,668 Total Assets Liabilities • $7,673 Mtce. Invoice • ------------------------------------ $7,673 Total Liabilities Equity • $129,995 • We have a strong cash position to deal with contingencies • No debt • Well positioned for 2010

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