the pines of avon property owners’ association, inc. annual meeting
TRANSCRIPT
The Pines of AvonProperty Owners’ Association, Inc.
Annual Meeting
Welcome
Agenda Introductions The Year in Review 2007 Financial Results 2008 Financial Budget Election of Directors Questions & Answers
Introductions
Pines of Avon Board Members Chad Rogers, President Kirk Wakefield, Vice President David Soline, Treasurer Ryan Troxel, Secretary Kathy Lisby, Member at Large Terry Bond, Member at Large Nancy Glass, Member at Large
Sentry Management, Inc. (317)251-9393 or [email protected]
The Year in Review
Improvements Rip-rap rock on 2 more ponds New electrical system at entrance pond New trees around large pond New mowing and landscaping company Additional pond treatments
Fewer Covenant Violations Great Association Fee Collection Rates Mailbox Review Fun Family Picnic and Successful Neighborhood
Sale Positive Financial Performance
2007 Financial Results
See Handout for 2007 Financial Results Board reviews financials monthly to ensure
smart spending Volunteers helped save $ Revenue:
Nearly full collection of annual fees Expenses:
$2,000 or 7.5% under budget Reserve Fund:
Paid for new trees and rip-rap Over $1,000 in interest earned Balance of approximately $16,000 at end of year
2008 Financial Budget
Budgeting process Annual Fees remaining the same Slight Increases: Mowing, Animal control,
Insurance, and Trees Plan to build reserve by $2,000 Special thanks to Charlie at PIP Printing for
donating printing services Help keep legal fees down by paying fees
on time and complying with covenants Volunteer, volunteer, volunteer!!!
2008 2007 2007PROPOSED ACTUAL
OPERATING ACCOUNT Annual Year End ApprovedBudget Results Budget
INCOMEASSESSMENT INCOME
45000 Assessments 36,480 36,284 36,480TOTAL ASSESSMENT INCOME $36,480 $36,284 $36,480
OTHER INCOME56100 Late Fee Income 300 533 30056990 Recovered legal fees 0 443 058800 Interest on Operating Accounts 0 13 057000 Miscellaneous Income 0 359 0
TOTAL OTHER INCOME $300 $1,348 $300
TOTAL INCOME $36,780 $37,632 $36,780
EXPENSESCOMMON UTILITIES
62200 Common Electricity 925 831 72362300 Common Water 585 625 735
TOTAL COMMON UTILITIES $1,510 $1,456 $1,458
LAWN CARE & MAINTENANCE64110 Mowing 4,760 3,910 4,76064120 Fertilization - Weed Control 1,537 1,537 1,45064160 Flowers & Plants 300 86 30064180 Tree & Shrub Pruning 840 840 84064190 Tree & Shrub Fertilizing 313 170 29564400 Mulch 500 309 70064500 Bed Weeding 560 420 56064510 Leaf Removal 350 350 350
TOTAL LAWN CARE & MAINTENANCE $9,160 $7,622 $9,255
MAINTENANCE - GROUNDS66500 Miscellaneous Maintenance 1,000 915 50066600 Animal Control 500 0 1,000
TOTAL MAINTENANCE - GROUNDS $1,500 $915 $1,500
IRRIGATION SYSTEM66992 Irrigation 165 295 50066998 Irrigation Repair 120 0 0
TOTAL IRRIGATION SYSTEM $285 $295 $500
MAINTENANCE - POND67110 Algae Control 2,760 0 067140 Pond Maintenance 250 3,185 2,90067160 Fountain Maintenance 350 350 350
TOTAL POND MAINTENANCE $3,360 $3,535 $3,250
2008 2007 2007PROPOSED ACTUAL
OPERATING ACCOUNT Annual Year End ApprovedBudget Results Budget
GENERAL & ADMINISTRATIVE70300 Postage 200 114 16571200 Social Expense 325 355 30072200 Printing 550 408 47573010 Property Taxes 485 187 60773500 Insurance Premiums 920 875 94074000 Miscellaneous Admin. Exp. 475 386 350
TOTAL G & A EXPENSE $2,955 $2,325 $2,837
PROFESSIONAL SERVICES75100 Management 8,100 8,100 8,10075200 Accounting 250 340 35075300 Legal 1,400 1,157 500
TOTAL PROFESSIONAL SERVICES $9,750 $9,597 $8,950
TOTAL EXPENSES $28,520 $25,745 $27,750
OPERATING SURPLUS (DEFICIT) $8,260 $11,887 $9,030
TRANSFER TO RESERVES $7,000 $5,000 $5,000
NET OPERATING SURPLUS (DEFICIT) $1,260 $6,887 $4,030
RESERVE ACTIVITY
INCOMERESERVE RECEIPTS
93010 Transfers from Operating Acct. 7,000 5,000 5,00093300 Interest income on Reserve Accounts 1,000 1,025 600
TOTAL RESERVE RECEIPTS $8,000 $6,025 $5,600
EXPENSESRESERVE DISBURSEMENTS
95200 Tree Removal Replacement 3,000 2,937 2,00095500 Rip Rap Installation 3,000 2,940 3,000
TOTAL RESERVE DISBURSEMENTS $6,000 $5,877 $5,000
NET RESERVE ACTIVITY $2,000 $148 $600
COMBINED CASH FLOW $3,260 $7,035 $4,630
CASH PROJECTIONS: Operating Reserve TotalCash on Hand, Jan. 1, 2007 $1,974 $15,366 $17,340Add: 2007 Surplus $6,887 $148 $7,035Projected Cash on Hand, Dec. 31, 2007 $8,861 $15,514 $24,3752008 Surplus $1,260 $2,000 $3,260
Election of Directors
How can I get involved?
Landscaping Weeding Litter pickup Committees
Social Planning
Give suggestions and feedback Contact [email protected] if you are
interested
Website – www.pinesofavon.org
On the website you can: Retrieve Documents
Newsletters Covenants Architectural Change Forms Maps
Submit feedback and suggestions
Questions & Answers
Thanks for coming!!!From The Pines of Avon Board