Hickorywood Farms

Annual Home Owners Association Meeting

October 15th, 2014

Property Management Company: Real Estate Specialist, Inc. Property manager: Bryan Olen Web site: http://hickorywoodfarms.weebly.com 2014 Board of Directors: Vince Warzak, Jay Johannes, Jesse Coates, Jon Looman, Jason McKellips Quarterly Board Meetings: All meetings are held at the Waukesha State Bank (Dates & Times are posted on the website)

Agenda

Call to Order & Establish Quorum

Approval of 2013 Annual Meeting Minutes

Pond Maintenance Update

Property management Update

Website

Walking Path

Expense Contracts

Treasurer's Report

Election of 2015 Board

Adjourn

Welcome Hickorywood Farms Owners

Call to Order

Establish Quorum

Approval of 2013 Annual Meeting Minutes

Pond Management What we did in 2014 with our Ponds

• Signed a 3-Year contract with Lakeland Biologists

-Located in Waukesha WI

-Owner Reid Turowski

Pond Management What has been completed in 2014 • Monthly Visits… 4/30, 5/20, 6/9, 7/14, 8/8

• Treated algae/weeds in ponds • Applied dye • Applied bacteria/enzymes to pond

• Misc. Inspections… 7/3, 8/2

• Visual inspections of ponds

• Service Visit (non scheduled)… 6/24/14 • Applications because of a call to

return by HOA

Pond Management What should we be doing with our Neighborhood Ponds? • How can we reduce our use of chemicals in our ponds? • Is there any other general maintenance we should be doing? • How do our ponds rate to others in our area?

Pond Maintenance Water Circulation…

Property Management Update

Property Management Report

Bryan Olen, FMP

Property Manager

Property Management Update Handled approximately 41 emails from homeowners and an unusually high

number of 310 emails from Board Members

Answered phone calls and questions from Homeowners, Realtors, Title Companies, Contractors and Vendors

11 Welcome letters sent out to new homeowners

RFP Contracts sent out for Landscaping, Snow Removal, Pond Maintenance, and set up interviews with Vendors

Worked with Vendors to complete open projects (Overflow Large Pond, Pathway)

Conducted Neighborhood Inspections Lamp Post (4), and Trees (2)

Provided monthly Financial Reports, Accounts Payable, Accounts receivable, Dues collection, Transfer Fees

Manage collection of delinquent or past due accounts

Maintain comprehensive system of records for financials and meeting minutes

Board of Directors Jason McKellips, Jay Johannes, Jesse Coates, Jon Looman, Vincent Warczak

Website WWW.hickorywoodfarms.weebly.com

Meeting dates, times,

locations

- Deed Restrictions - Bylaws

- Meeting minutes - Membership

meeting presentations

- Many other Historical

documents

Past Newsletters

-Year-end statements

with expense details

- Current YTD financial stmt - Current Year

budget

Property management

contact information

Several links of interest

Misc. updates

and notes

Pathway Project • Project was completed September 16th within budget

• Budget approved by membership was $11K / Actual cost was $10.6K

• Asphalt was completed by Poblocki Paving

• J&L Landscaping completed Fill in and seeding

Expense Contracts Lawn Maintenance

3 year contract (2014-2016)

J&M Yard Care

Snow removal of Common Sidewalks 3 year contract (2014 – 2016)

J&M Yard Care

Pond Maintenance 3 year contract (2014-2016)

Lakeland Biologists

Property management company 3 year contract (2015-2017)

Real Estate Specialists, Inc.

Insurance Annual contact

State Farm Insurance

Estimated Togo 2014 2014 Budget Variance

Income Sept 30, 2014 YTD (Oct 1 - Dec 31, 2014) Estimate

Transfer Fees 4,500.00 1,000 5,500.00 1,000.00 4,500.00

Association Dues 35,150.00 - 35,150.00 32,750.00 2,400.00

Escrow Funds collected 500.00 - 500.00 - 500.00

Escrow Funds Dispersed (725.00) - (725.00) - (725.00)

Reimbursable Legal Fees 1,227.81 - 1,227.81 - 1,227.81

Electric Install Refund 1,844.00 - 1,844.00 1,844.00 -

Other Income/Fees 75.00 - 75.00 - 75.00

Late Fees 480.00 - 480.00 - 480.00

Total Income 43,051.81 1,000 44,051.81 35,594.00 8,457.81

Interest earned 4.19 - 4.19 - 4.19

Expenses

Accounting Fees 260.00 - 260.00 600.00 (340.00)

Administrative Fees 4,950.00 1,650 6,600.00 6,600.00 -

Administrative Other 197.95 - 197.95 750.00 (552.05)

Insurance 1,300.00 - 1,300.00 1,400.00 (100.00)

Landscape maintenance 7,861.86 3,387 11,248.81 13,100.00 (1,851.19)

Pond Maintenance 6,799.07 4,412 11,210.64 5,000.00 6,210.64

Legal 1,849.90 - 1,849.90 600.00 1,249.90

Social - Block Party - - - 600.00 (600.00)

Repairs / Maintenance - General (10.96) - (10.96) - (10.96)

Repairs / Improvements - Capital 9,370.00 1,273 10,642.76 - 10,642.76

Snow Removal 4,105.00 200 4,305.00 1,500.00 2,805.00

Utilities - Water, Electric 53.83 27 80.83 600.00 (519.17)

-

Total Expenses 36,736.65 10,948.28 47,684.93 30,750 16,934.93

Net Income/ (Loss) 6,315.16 (9,948) (3,633.12) 4,844.00 (8,477.12)

Financial Report 2014 Update

HWF Operating Escrow Reserve Total

Funds Funds Funds Cash on-hand

Balance as of 9/30/14 15,289.61 225.00 4,705.43 20,220.04

Estimated Inc Oct 1-Dec 31, 2014 - - 1,000.00 1,000.00

Estimated act trsfrs Oct 1-Dec 31, 2014 (1,000.00) 1,000.00 -

Estimated Exp Oct 1-Dec 31, 2014 (10,948.28) - - (10,948.28)

Estimated 12/31/14 Balance 3,341.33 225.00 6,705.43 10,271.76

Financial Report 2015 Budget Proposal…. Annual Dues = $250.00 per lot

2014 2015 Proposed

Income Estimate Budget

Transfer Fees 5,500.00 3,000.00

Association Dues 35,150.00 34,250.00

Escrow Funds collected 500.00 -

Escrow Funds Dispersed (725.00) -

Reimbursable Legal Fees 1,227.81 -

Electric Install Refund 1,844.00 -

Other Income/Fees 75.00 -

Late Fees 480.00 -

Total Income 44,051.81 37,250.00

Interest earned 4.19 5.00

Expenses

Accounting Fees 260.00 600.00

Administrative Fees 6,600.00 6,600.00

Administrative Other 197.95 200.00

Insurance 1,300.00 1,400.00

Landscape maintenance 11,248.81 11,000.00

Pond Maintenance 11,210.64 8,825.00

Legal 1,849.90 600.00

Social - Block Party - 600.00

Repairs / Maintenance - General (10.96) -

Repairs / Improvements - Capital 10,642.76 -

Snow Removal 4,305.00 2,000.00

Utilities - Water, Electric 80.83 100.00

Total Expenses 47,684.93 31,925.00

Net Income/ (Loss) (3,633.12) 5,325.00

HWF Operting Escrow Reserve Total

Funds Funds Funds Cash on-hand

Estimated 01/01/15 3,341.33 225.00 6,705.43 10,271.76

Income 34,250.00 - 3,000.00 37,250.00

Expenses (31,925.00) - - (31,925.00)

Interest earned - - 5.00 5.00

Estiamted '15 activity 2,325.00 - 3,005.00 5,330.00

Estimated 12/31/15 balance 5,666.33 225.00 9,710.43 15,601.76

Volunteer Opportunities

Board positions

• 2 – 2 year terms

• 3 – 1 year terms

Committees

• Cleanup / Maintenance committee

• Pond Committee

• Social Committee

2015 Board Nominees… 5 positions Nominations Accepted Nomination

Jason McKellips Y

Jay Johannes Y

Ben Voiles Y

Daryl Rooscefort Y

Gary Wilson N

Cliff Gregg N

Vince Warczak N

Jon Looman N

Jesse Coates N

Each Board Nominee 1. Introduce yourself

Name

Address

2. Tell everyone why you want to be on the Board

3. Any previous Association BOD / Committee

4. Field any Q&A from the Homeowners

Hickorywood Farms

Annual Homeowners Association Meeting

ADJOURNED

Please check the Website for updates throughout the year!

http://hickorywoodfarms.weebly.com/

APPENDIX

Pond Over Flow Pipe Repair - Before

Pond Over Flow Pipe Repair - After

Survey results from January 2014 …(only 35 of 137 lots responded)

Do you feel the HOA board is doing an adequate job based on the dues you pay? Yes 66% (23); No: 34% (12) ; (35 responses) Do you feel the Mngmt Company is doing an adequate job based on the dues you pay? Yes: 54% (19); No: 46% (16); (35 responses) How do you feel about the enforcement of the deed restrictions by the HOA? Very Satisfied: 14% (5); Satisfied 29% (10); Neither Satisfied or Dissatisfied 31% (11); Dissatisfied 6% (2); Very Dissatisfied 20% (7); (35 responses) What projects would you like to see the board focus capital funding toward? Improved Walking Paths 14 Benches on common areas 5 Pier in large pond 7 Electronic speed signs 5 Fountains at entrance 6 (35 responders suggested 42 ideas, other ideas are listed in full report) Would you be willing to pay extra through a special assessment to fund these projects? Yes 20% (7); No 80% (28); (35 responses) How often should the HOA be providing communication? Quarterly 57% (20); Semi-Annually 20% (7); Annually 12% (4), Other 11% (4) Full, un-edited, responses to all survey questions are published on the Hickorywood Farms website

Transfer Fee Changes / Timeline