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Welcome to YourQuail Run Condominium Trust

Annual Meeting

November 18, 20107:00 pm

First Congregational Church322 Main St. Woburn, MA

Web Page: www.quailruncondo.org

204/21/23November 14, 2007 2Walt

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Agenda

• Introductions • Trustee Elections• 2010 Accomplishments• 2011 Goals• Decks and Railings• Landscape Committee• Finance Committee• Budget and Reserves

• Communications• Volunteers• Management Report• Unit Owner Responsibilities• Mary Cummings Park Update• Open Discussion• Trustee Election Results• Closing

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Welcome and IntroductionsTrustees:

– Richard Clarke (Chairperson)– Jack Deasy **– Joe Fitzsimmons– Walt Howe– Dan Sereika

The Dartmouth Group:– Ken Lazarus– Jim Stento– Fred Stoddard

** Trustee term expires in January 2011

Jack

5 55Jack 5

Meeting Ground Rules

• Allow presenters to get through material• Brief Q & A period after each section and at end of

entire session• Put Quail Run community interests ahead of your own• Be respectful of others

– listen, please don’t interrupt

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Trustee Elections

• Nominations from the floor• Candidate Introductions• Voting:

– One ballot per unit– Verify beneficial interest as it appears on ballot

(color-coded)– Vote only for one trustee candidate for each vacancy– Sign your ballot and include unit number

• Results will be announced at end of meeting

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2010 Accomplishments

• Refurbished front entrance• Water heater replacement program• Expanded termite control systems• Drilled new VBW well• Repaired 9 KM and 9DG water damage• Investigated potential for future water damage problems• Purchased maintenance vehicle and watering system• Further web site upgrades• Added 6 residences to e-mail distribution• Completed SMB, MG, KM and DG railing repainting

Walt

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2010 Accomplishments (continued)

• Completed front entrance painting at all clusters except SMB, KM

• Finalized specifications for weather resistant decking and railings

• Fully implemented monthly financial spread sheets• Completed landscaping JG drainage project• Repaired 2 trash structures• Power washed JG and part of SMB using own

equipment• Upgraded property management, legal and accounting

resources• Expect 2010 operating surplus against budget even

after accelerating 2011 items

Walt

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2010 Goals Amended or Deferred

• MG and mailbox area drainage still work in progress

• Additional car port doors

• Replacement of SMB, KM, JG and DG deck top rails

• Market conditions not favorable for increased returns on investments

• Revisions to condominium documents

10 10Richard

2011 Goals (1)

• Finalize specifications for weather resistant railing materials

• Complete MG and mailbox area drainage work

• Complete 2012 repaving planning (added granite curbing)

• Install further termite systems

• Consider Noblin reserve study update

• Finish repainting entrances at SMB and KM

11Richard

2011 Goals (2)

• Get more residents on email distribution• Refurbish additional SMB trash area• Initiate installation of protective housing for electrical

boxes• Install more visible unit numbers• Trustee inspections as part of the 6D process• Install additional carport garage doors• Additional revisions to condominium documents• More hands-on volunteers needed• Improve return on invested funds

12Richard

Decks and Railings

• Two additional decks replaced with weather resistant materials in 2010

• VBW mahogany decking remains a burden on both owners and the Trust

• Weather resistant railings now approved for VBW• Reaffirm rebate program

13 13Richard

Landscaping Committee 2010

Chair: Dick Clarke (Interim)

Committee Members: – Florence Fitzsimmons– Bonnie Holmes– Eleanor Maskell– Vin Murphy– Margo Valega

Committee still needs more volunteers

14Richard

Landscaping Committee2010 Achievements

• Refurbished front entrance plantings• Extensive tree and brush work• Removed DG planter box• Replanted JG banking with carpet juniper• Implemented tree and perennial farm concept• Bush replacement program• Stump removal

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Landscaping Goals 2011

• Continue front entrance improvements

• Replant barren flower beds and banks*

– Roadway to KM/MG a priority

• Expand irrigation systems*

• Begin removal of large overhanging trees at DG & SMB

• Plant October Glory red maples in selected areas

• Remove excess overgrowth along grass borders** Carried over from 2010 goals

Richard

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Finance Committee

Purpose: To oversee current expenditures in conformity with the current budget and to provide trustees with recommendations regarding future budgets and reserve adequacy

Members: Bob Waehler previously did it all – now member emeritus Dick Clarke (Liaison with Trustees) Ray Kenney

Tom KentHope Tillman

Work to date:Reviewed 2010 expendituresReviewed and modified 2011 budgetReviewed Reserve adequacy

Recommended approval of 2011 final budget and assessment

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Budget Highlights

• Expect to be under 2010 budget overall• Expanded termite control stations• Offset by 2010 contingency reserve of $10,000• Achieved savings by moving projects in-house• Other savings in administrative expense, tree work, and

numerous other areas

For 2011: • 2% increase in fees for additional reserve contribution• Contingency Reserve maintained at $10,000• Expect significant savings if additional residents get online for

both communications and payments

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Reserve AdequacyBALANCE 1/1/2011 $340,0002011 ADDITIONAL RESERVES (includes 2% 2011 increase) $102,000ESTIMATED INTEREST INCOME $4,000 ESTIMATED ANNUAL EXPENDITURES $40,000ESTIMATED BALANCE 1/1/2012 $406,000 MAJOR FORSEEABLE PROJECTS NEXT TEN YEARS

TENNIS COURT RESURFACING (2011) $10,000REPAVING PHASES 1-5 (2012) $300,000

 REPAVING CONSIDERATIONS

2005 NOBLIN ESTIMATED COST $230,000ESTIMATED COST SPRING 2012 $300,000AVAILABLE SURPLUS 1/1/2012 $406,000*

 *LAST YEAR, WE FORECAST AVAILABLE SURPLUS OF $423,152 with $40,000 in annual

expenditures. 2010 reserve charges are now expected to exceed $50,000. Hence the need to increase reserves by 2% per year. Continued operating savings have helped us in not increasing the 2011 operating budget.

Richard

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CommunicationsCommunications

• Website (http://www.quailruncondo.org)• Monthly Board Meeting abstracts and Financials

posted on website, accessible by password.• The Quail Runner newsletter (quarterly, deadline

for December issue is Nov. 15)• Bulletin Board by the mailbox• Email and mail: maintain voluntary directory on

website, pass-worded• The Dartmouth Group SenEarthCo System

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CommunicationsCommunications

•The Quail Runner (12/09 – 9/10)• Published four issues• 14 contributors• Now online in color

•Unit Owners’ Handbook• Updated on website

•The Quail Run Website (http://www.quailruncondo.org)• Updated frequently by Webmaster, Walt Howe• Added events calendar • Reorganized for easier use

Walt

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CommunicationsCommunications WHAT YOU CAN DOWHAT YOU CAN DO

• Sign up for email

• Contribute news, articles, pictures, ideas to The Quail Runner

• Suggest content for the website

• Add your contact information to the website directory

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THANK YOU TO OUR2010 VOLUNTEERS

• Joel Alpert• Paul Bacigalupo• Richard Clarke• Jack Deasy• Bob Dever• Arthur Downing• Florence Fitzsimmons• Joe Fitzsimmons• Bonnie Holmes• Walt Howe• Ray Kenney• Susan Zeller-Kent

• Tom Kent• Nancy Lefkowitz• Eleanor Maskell• Dorothy Metrano• Vin Murphy• Priscilla Samoiloff• Joel Seidman• Dan Serieka• Hope Tillman• Margo Valega• Bob Waehler

Richard

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Property Management Report

by

The Dartmouth Group (TDG)

Ken Lazarus/Jim Stento

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Financial PerformanceCurrent Year 2010

Operating Reserve Totals Operating Reserve TotalsREVENUES:Common Area Fees 363,588$ 92,868$ 456,456$ 363,588$ 92,868$ 456,456$ Interest Income 30$ -$ 30$ 12$ 2,871$ 2,883$ Late Charges & Fines 200$ -$ 200$ 764$ -$ 764$ Miscellaneous Income -$ 25$ Parking Income 700$ -$ 700$ 1,200$ -$ 1,200$

Total Revenues 364,518$ 92,868$ 457,386$ 365,589$ 95,739$ 461,303$

EXPENSES:Utilities 16,250$ -$ 16,250$ 14,261$ -$ 14,261$ Office Operating 7,200$ -$ 7,200$ 6,784$ -$ 6,784$ Management & Administration 41,020$ -$ 41,020$ 31,093$ -$ 31,093$ Services 155,258$ -$ 155,258$ 160,125$ -$ 160,125$ Maintenance & Repairs 108,275$ -$ 108,275$ 107,684$ 51,496$ 159,180$ Insurance & Taxes 36,508$ -$ 36,508$ 33,488$ -$ 33,488$

Total Expenses 364,511$ -$ 364,511$ 353,435$ 51,496$ 404,931$

Net Revenue over Expenses 7$ 92,868$ 92,875$ 12,154$ 44,243$ 56,372$

2010 BUDGET PROJECTED 2010

Ken

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Financial PerformanceApproved 2011 Budget comparison with

2010 Projected

Operating Reserve Totals Operating Reserve TotalsREVENUES:Common Area Fees 363,588$ 92,868$ 456,456$ 363,588$ 101,997$ 465,585$ Interest Income 12$ 2,871$ 2,883$ 30$ 4,000$ 4,030$ Late Charges & Fines 764$ -$ 764$ 400$ -$ 400$ Miscellaneous Income 25$ -$ Parking Income 1,200$ -$ 1,200$ 700$ -$ 700$

Total Revenues 365,589$ 95,739$ 461,303$ 364,718$ 105,997$ 470,715$

EXPENSES:Utilities 14,261$ -$ 14,261$ 16,350$ -$ 16,350$ Office Operating 6,784$ -$ 6,784$ 7,000$ -$ 7,000$ Management & Administration 31,093$ -$ 31,093$ 44,800$ -$ 44,800$ Services 160,125$ -$ 160,125$ 165,758$ -$ 165,758$ Maintenance & Repairs 107,684$ 51,496$ 159,180$ 94,500$ 40,000$ 134,500$ Insurance & Taxes 33,488$ -$ 33,488$ 36,300$ -$ 36,300$

Total Expenses 353,435$ 51,496$ 404,931$ 364,708$ 40,000$ 404,708$

Net Revenue over Expenses 12,154$ 44,243$ 56,372$ 10$ 65,997$ 66,007$

2010 PROJECTED 2011 BUDGET

Ken

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Budget Allocation 2010(Where Your Money Currently Goes)

23%24%

4%

8%

11%

9%2%

20%

Utilities $16,250 4%

Office Operating $7,200 2%

Management & Admin $41,020 9%

Services $52,158 11%

Landscaping $103,100 23%

Maintenance & Repair $108,275 24%

Taxes & Insurance $36,508 8%

Reserves $92,868 20%

Ken

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Budget Allocation 2011(Where Your Money will Go)

23%20%

4%

8%

13%

10%1%

22%

Utilities $16,350 4%

Office Operating $7,000 1%

Management & Admin $44,800 10%

Services $58,658 13%

Landscaping $107,100 23%

Maintenance & Repair $94,500 20%

Taxes & Insurance $36,300 8%

Reserves $101,997 22%

Ken

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Common Area Fees

$-

$100

$200

$300

$400

$500

Average Fees

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Ken

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Unit Owner Responsibilities-1• Cold weather preparations (more to follow)• Hot water heater replacement• Dryer vent cleaning• Parking• Trash and Recycling

– Break down cardboard

– Contractor and construction debris must be removed by contractor or unit owner - not to be left in trash area for pick up

– Remember: there are now charges for computers, TV, refrigerator and washer, etc removal (call Waste Management for detail)

– Place all trash in dumpsters

Dan

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Unit Owner Responsibilities-2

• Get prior approval from Trustees for changes to common area (patios, landscaping), pets

• Cleanliness of common areas, no noise pollution• Deck repair, replacement and maintenance• Work Requests go to The Dartmouth Group (“TDG”), not

maintenance personnel or Trustees• Give keys to trusted neighbor and inform TDG who has

keys for emergency access• Please be courteous to TDG and its representatives

Complaints, comments & suggestions to Trustees

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Cold Weather Preparations -1• Had flooding in past years due to frozen pipes

– Huge insurance company claim ~ $40,000– Caused increased insurance premium

• We must be pro-active to prevent recurrence• When leaving home between November and April, take

following precautions:– Turn off water at meter - do you know where your

shutoff valve is?• Units with basements - many near electrical panel in

basement• Units with no basement - usually near hot water heater

– Open water spigots to drain pipes

Joe

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Cold Weather Preparations - 2

– Close valves to sill cocks, but leave sill cocks open– Reduce temperature on water heater to vacation

setting– Consider hiring plumber

– Leave thermostat set no lower than 58o

– Ask a neighbor or relative to check your unit weekly– Notify TDG contact information for yourself, for person

checking unit– Install temperature signaling device to indicate low

temperature – Turn off washing machine valves; replace hoses

• Install metal mesh covered hoses ( ~ $15 per pair)Joe

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Steven Keleti, President

www.cummingspark.org

Friends of Mary Cummings Park Update

Steven

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What You Can Do!

• Enjoy the park• Join Friends of Mary Cummings Park• Help spread the word to Quail Run residents and friends • Check and restock Sylvanus Wood kiosk with postcards• Come to public meetings• Contact Aldermen and other public officials• Spread the word about the park and Whispering Hill

Woods• Donate to the Friends of Mary Cummings Park• Consider buying a charitable trust annuity to support

conservation

www.cummingspark.org

Steven

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Trustee Election Results

Ken or Walt

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General Discussion

All Trustees

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Closing Final Questions & Answers

Thank You!

www.quailruncondo.org

All Trustees