annual meeting - november 5, 2014. call to order & introductions 2014 review and recognition ...
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Annual Meeting - November 5, 2014Annual Meeting - November 5, 2014
Call to Order & Introductions
2014 Review and Recognition
HOA Communications
Treasurer’s Report and Financial Update
Amendments
2015 Ideas
Open Floor for Other Topics
Agenda
Board of Trustees
Robert Weeks, President Brent Hardesty, Vice President Dave Perry, Treasurer
Association Manager Monica Bowles, Towne Properties
Association Attorney Lisa Conn, Esq. (Cuni, Ferguson & LeVay Co., L.P.A.)
Call to Order & Introductions
Improvements
Replacement Heater for Swimming Pool Updated landscaping at Weber road entrance
Continued Financial Transparency
Continued Efficient General Assessment Collections
4th Annual Mitchell Farm Yard Sale
Swim Club Maintenance Replaced pool furniture and umbrellas Repaired pool gate
2014 Review
Coral Kerns - 4th Annual Mitchell Farm Yard Sale
Holly Sattler & volunteers - Swim Club Maintenance
Karen Diercks– Pool Keys
Leslie Copp - Social Events
Lisa Moloney - Communications
2014 Recognition
Mitchell Farm Facebook & Yahoo page is managed
privately by one of the residents – no connection to HOA
Official HOA communication channels www.mitchellfarmhoa.com Email (Board members’ addresses found on site) Newsletter (email) Financials
Searching for a new Communications Chair Lisa Moloney (current chair) is ready to hand over the
baton – please let us know if you are interested in managing HOA communications
HOA Communications
OfficialMitchell Farm Website
www.mitchellfarmhoa.com
Give us your feedback
through our “Quick poll” section on the site!
This may also be the area we could use in the future for secure voting on HOA issues (if the electronic voting amendment passes)
OfficialMitchell Farm Website
Proposed Amendments
Robert Weeks, HOA President
Voting (Quorum)
Current: Requires high % of membership to attend HOA meeting in-person (or proxy) to reach a quorum
Future: Online and write-in voting will be equal to in person or proxy vote reaching quorum more likely
Proposed Amendment
Solar Panel InstallationCurrently, Section 8.3(E) prohibits temporary structures like solar panels and provides no approval authority to the Board
Proposed amendment for additional clarity (similar to fences)
Must mount on roof facing away from street Must maintain color scheme and style of home Must follow codes and get permit for installation Wiring must be contained in painted conduit
(hidden)
Proposed Amendment
Financial Update
Dave Perry, HOA Treasurer
As of September 30, 2014 Statements:
Operating Cash on hand: $74,983 Reserve CD Investments: $95,820 Total Assets: $170,803
Plus: Outstanding Receivables: $3,798.10
Treasurer’s Report and Financial Update
2014 Operating Budget: $63,000
YTD Operating Expenses (9/30): $35,892 Several large bills pending for insurance & tax acct/audit
before year end
Expecting to finish year under budget, AND contribute a positive cash flow to reserves!
2014 Expense & Budget Savings:
Treasurer’s Report and Financial Update
2014 Capital Improvement Spending from Reserves:
$8,584.38
Pool Heater $8,296.38
Gas line installation $288.00
Treasurer’s Report and Financial Update
Current Past Due (10/30/2014): $10,496.51 -
34 lots $5,895 of balance is from 2014 dues & late fees $4,723 previous past due balance
Includes late fees, collection fees, and lien fees
5 active liens >$5,000 of receivables
16 of the past due were $20 late fees 1 was $40 2 were $60
Treasurer’s Report and Financial Update
2015 Ideas
Robert Weeks, HOA President
Potential Improvements – VOTE ONLINE!
Pool Shade Playground update/renovation
Looking Ahead to 2015
Remember…
Be respectful when others are speaking
Keep your questions & comments to one minute or less
Open Floor for Other Topics
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