president’s report annual homeowners ......summerwood budget worksheet for year 2015 dues...

PRESIDENT’S REPORTANNUAL HOMEOWNERS’ MEETING

JULY 26, 2014

Your Board of Directors

Barbara Campbell (Member) retiring

Alan Cohen (Secretary)

John Hedderich (Treasurer)

Anne Del Villano (Vice President)

John Fitzgerald (President) term expires

PRESIDENT’S REPORT

PRESIDENT’S REPORTOther Volunteers

Jim Manning (President Emeritus)Homeowner Database

Peter Raich Tenderfoot Motorcycle CollaborationStrategic Plan

Jim FullerDenver Water Property Fire Mitigation


Your Architectural Control Committee

Bert Del Villano (Chair)

Mark Novak

Mary Beth Diblasi

Chris Metzger

Linda Boyd

Architectural Report

Bert Del Villano

Repaint/Restain Policy:

Homeowner to paint a patch (2 ft X 2 ft) with new paint (even if we think it is the same) for ACC approval.

Any Outside Changes: Remodel or Repair; Trees; Landscape; Please Contact the ACC

Road Use Fee May Apply

Fire Mitigation


Bert Del Villano

Real Estate Closings -- July 2013-2014

Buyer Seller ClosingLinda Smith Shutler 95 Pinnacle Ln. 7/3/2013 Peter Heckman Parsons 417 Summerwood Dr. #A3 9/5/2013William Welbon Moore 14 High Meadow Tr. 10/7/2013Mary Trojac Smith 127 Torrey Ln. 2/28/2014Miksic/Tendler KHK (S/W) 19 High Meadow Dr. 5/5/2014


Bert Del Villano

Summerwood ACCMajor Approvals 2012-2013All exterior changes to be ACC approved

Name Address Project

Rapp/Riccio 339/343 High Meadow Dr. Painting

Ives 63 Long Bow Dr. Hot tub

Boyd 194 Summerwood Dr. Trees

Hawkins 9 Pinnacle Dr. Garage

White 21 Guyot Front door


On Site Managers

Manager:Eric Nicholds

Assistant Managers: Susan Nicholds & her helper, Gary


Strategic PlanMission:

“Community of Choice”

“Sustainable Future… enhance the value of the community”

Vision:“lead… in sound fiscal management, a strong trusting

relationship with homeowners, and as an environmentallyconscious, responsible, aware and participating citizen of ourmountain community”

Core Values:Transparency, Integrity, Mutual Respect, Fiscal

Responsibility, Helpfulness


Strategic PlanObjectives:

Maintain financial soundness

Assure succession and capability of HOA governance

Facilitate and encourage upgrading/replacing homes

Monitor and engage in the neighboring community

Develop proactive plans to address change

Ensure appropriate communication with homeowners

PRESIDENT’S REPORTStrategic Plan

How Can You Help?

1. Someone to monitor SRPC, BOCC, OSAC & other gov’t organizations for issues that could impact Summerwood.

2. Someone willing to participate as a member of any of these and other operating & advisory organizations.

3. Someone willing to develop a plan (with county input) to mitigate the bicycle/entrance safety concerns.

4. Someone who can develop a plan to mitigate highway noise.

TENDERFOOT MOUNTAIN MOTORCYCLE TRAIL SYSTEM UPDATE - 2014 PETER RAICH

SCORR proposal

Initially 33 miles of trails, reduced to 21 miles (13 new, 8 reconstruction) and 19 miles rehabilitated

21-member Stakeholder Task Force

Held five 5-hour meetings during March – June 2013

Deliberations resulted in: Proactive and Adaptive Management Plan

Task Force Recommendations regarding environmental assessment, construction, rehab and maintenance

Tenderfoot Construction and Maintenance Plan

Annual Maintenance and Patrol Program

Monitoring and reporting of violations

Peter Raich

2014 UPDATE

Modified plan was approved by Forest Service Construction and rehab phased in from 2015-2018

depending on grant funding Dillon Ranger District did receive a $87,500 Colorado Parks

and Wildlife OHV grant to construct first phase of plan in 2015 (6 miles)

Did NOT receive funding for Forest Service Maintenance-Patrol crew to patrol this and other areas

Upon prompt expression of concern by Stakeholder Group, Scott Fitzwilliams, Forest Supervisor, made the decision that funds will be taken from the construction grant to: Patrol trailheads, trails and campsites 3 days a week Perform sound tests and spark arrester inspections Rehabilitate newly created trails Prepare incident reports and monthly summaries

Peter Raich


Annual Activities:

>Fill Road Cracks

>Vegetation Management

>Forest Management:

~Standing Dead & Beetle Trees Removed

~Pheromone Packs Installed

~Selective Thinning & Pruning Phase 3

~Tree Replanting Program


Completed “Projects”:

High Efficiency Boiler for Sports Complex

o Space Heat

o Pool Heat

o Spa Heat

Strategic Plan

o Creation of Plan Complete

o Execution of Plan Begun

PRESIDENT’S REPORTOngoing “Issue”:

Racquetball Court Water Intrusion

o High Precipitation Yearo Old Foundation Drain Improperly Installed (Clogged)

What we’ve done so far:

o Sump Installed in Closet (where water first appeared)o Warped flooring removed & two exploratory holes cut in concreteo Exterior “Abyss” dug to expose base of foundation

Current Plans:

o Install Exterior Foundation Drain Systemo Replace Racquetball Court Floor


2013

$0.00

$5,000.00

$10,000.00

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$20,000.00

$25,000.00

$30,000.00

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Gas/Electric Yearly Total


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Water Usage


Our View of the Future

Current / Future “Projects”

Fire Mitigation

Xeriscape where appropriate

Implementing the Strategic Plan

Gilan Engineering Study (& our actual experience) continues as the basis for reserve planning

UnknownsThirty Year + Old Community

Annual Homeowner

Education

Homeowner Education

Wildfire Mitigation

Summerwood Wildfire Hazard Rating: Moderate

Defensible Space: Fuels Reduction Area (Cut Tall Grass)

Common Property within your defensible space needing work: Please inform HOA.

Homeowner EducationWildfire

http://www.co.summit.co.us/wildfiremitigation/

•Wildfire Notification System: ( SCAlert.org )

•Evacuation Plan

•Evacuation Kit

•Evacuation Notice: Only government officials have the information & authority to order evacuation. The HOA cannot accept this responsibility.

Selected Rules: All pets must be kept on a leash when off its Owner's

Site No pets in Common Facilities Sports Complex

Under 14 …supervised by an adult No Glass in pool/spa area Video recording installed

When Renting Your Home Owner is responsible for renters No Pets OHV restricted from our roads Tenant info to HOA if > 30 days

Homeowner Education


Safety Reminders

Walk our Roads Defensively

Respect non-motorized users when driving our roads

Entrance Bike Crossing Caution:

Bikes have a stop sign, but often don’t look for cross traffic

Cars have right of way, but…

County is aware of our concerns and did change “yield” to “stop”

HOMEOWNER EDUCATIONWebsite

http://www.summerwoodassociation.com

Owners Login Section:Password: Summerwood

Welcome Page: President’s Corner

Meetings & Minutes: BOD Schedule/Agenda/ Minutes

BOD Members:

ACC Members:

Financials:

Insurance: Summary

Vendors: Disclaimer

HOMEOWNER EDUCATIONWebsite

Public Section

>DocumentsCCIOAInformation Booklet (Declarations & Rules)Operating Manual

>Facilities>Photo Tour>Financial Philosophy>Etc.

HOMEOWNER EDUCATION

Board Meetings:

>Once a Quarter (approximately)

>Schedule on website & in latest President’s Corner

>Agenda on website about a week before the meeting

>You are welcome to attend & speak (Skype on request)

>Draft Minutes usually on website in two to three weeks

MANAGEMENT COMPANY REPORT

Gary; Susan; & Eric Nicholds

Basic Property Management

FINANCIAL REPORT

John Hedderich

Treasurer

Summerwood Budget Worksheet for Year 2015 Dues increased from $265 to $270 = 1.9% increase DRAFT 01

Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget2011 2012 2013 May 2013 2013 2014 2015

Apr 2014 Approved Approved Proposed CommentsOperating Income /Owner/month

Dues: Operating _97 owners 170,445 167,162 176,637 176,796 176,638 177,118 175,498 $150.77Mgmt Fee - Ridge 4-Plex 4 2,724 2,808 2,866 2,887 2,866 2,928 2,987 + 2.0% Mgmt Fee - Summer Ridge 6 4,092 4,212 4,299 4,326 4,299 4,380 4,468 + 2.0% MgmtFee - Torrey Ridge 8 5,460 5,616 5,733 5,770 5,733 5,844 5,961 + 2.0% Sale of Vehicle - - - 15,000

Trash Reimbursement $20/month 4,480 3,505 3,520 3,400 4,500 3,600 3,120 13 ownersMisc Income _ Interest 26 27 120 174 - - -

Total Operating Income 187,227 183,330 193,175 208,352 194,036 193,870 192,034

Operating ExpenseBad Debt 7,319 - 953 953 - - -Administration

Annual Meeting Expense 2,156 530 2,411 2,411 2,000 1,500 2,500

Bank Service Charges (75) - - - - -Cable TV 1,201 1,612 1,821 1,889 1,300 1,600 2,000 Clubhouse Holiday Decorations 215 381 22 22 200 300 150 Contributions - - - - - - -Directors Meeting Expense - 201 - 22 - - -Filing Fees 10 10 227 227 10 10 10 Insurance 5,681 6,014 6,979 7,197 5,700 6,000 8,400 Office Supplies 173 456 121 350 250 300 250 Other Admin 2,676 1,824 3,720 3,576 2,500 2,250 3,500 Postage and Delivery 253 252 262 284 300 300 300 Printing and Reproduction 180 258 241 232 200 250 250 Secretarial Service 1,092 1,042 827 1,229 1,100 1,100 1,200 Security System 435 334 375 375 450 350 375 Taxes & Licenses - - - - - - -Telephone 2,826 3,266 3,192 3,263 3,100 3,100 3,200 Unit Inspections - - - - - - -Web Page Admin 420 420 420 420 400 400 420

Total Administration 17,243 16,600 20,620 21,497 17,510 17,460 22,555

Management Fee 105,869 107,457 111,226 111,967 111,226 113,460 115,729 + 2.0%

Summerwood Budget Worksheet for Year 2015 Dues increased from $265 to $270 = 1.9% increase DRAFT 01

Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget2011 2012 2013 May 2013 2013 2014 2015

Apr 2014 Approved Approved Proposed Comments

Professional Fees

Accounting - Tax Preparation - - - - 500 - -

Legal Other Than Architectural 48 338 174 74 200 200 200

Total Professional Fees 48 338 174 74 700 200 200

Repairs & Maintenance

Building Maintenance 2,540 756 3,223 2,381 3,000 2,500 2,500

Clubhouse - Other 5,986 4,976 4,383 3,809 5,000 5,000 4,000

Clubhouse - Pool & Spa 537 2,958 1,970 2,187 3,000 3,000 2,200

Grounds Maintenance 5,336 6,115 5,018 5,372 6,000 6,000 5,500

Managers Unit 625 80 202 202 500 500 300

Ordinary Road Maintenance - - - - - - -

Other Maintenance 357 22 - - 500 400 -

Signage Program - - - - 500 250 150

Snow Removal 268 (2,476) - 75 1,000 500 100

Trash Removal 10,451 11,037 11,770 11,242 11,000 11,500 11,500

Tree Replacement 2,600 - - - 3,000 3,000 1,000

Total Repairs & Maintenance 28,700 23,467 26,566 25,269 33,500 32,650 27,250

Utilities

Electric 11,757 9,329 10,174 9,060 11,500 11,500 9,000

Gas 4,161 3,452 4,187 3,967 4,500 4,500 4,000

Water & Sewer 4,431 4,757 3,728 3,635 4,500 4,500 3,700

Total Utilities 20,350 17,538 18,089 16,662 20,500 20,500 16,700

Vehicle Expense

Gas, Oil, Washing 3,030 2,717 2,678 3,381 3,000 3,000 3,000

Insurance, Licenses, Registr 2,963 2,052 3,740 4,023 3,000 3,000 3,000

Repairs & Maint-Trucks 2,348 1,531 4,100 4,077 3,500 2,500 3,000

Repairs&Maint-Skid Steer 163 35 94 94 1,000 1,000 500

Vehicle Expense - Other - - 155 314 100 100 100

Total Vehicle Expense 8,504 6,335 10,767 11,889 10,600 9,600 9,600

Total Operating Expense 188,032 171,734 188,394 188,311 194,036 193,870 192,034

Operating Net Income/(Loss) (805) 11,596 4,781 20,041 - - -

Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget

2011 2012 2013 May 2013 2013 2014 2015


Other Income & Expense

Other Income

ACC Consulting Fees - - - - - - -

ACC Plan Review Fees - - - - - - -

Collection Fees - - - - - - -

Late Fees 901 892 78 32 - - -

Fines - - 100 600 - - -

Mail Box Charges - - - - - - - /Owner/month

Dues: Reserve Fund 120,555 123,838 114,363 120,024 114,362 131,342 138,782 $119.23

Interest - Money Market 2,021 1,109 824 824 1,500 1,100 -

Road Use Fee - 15,820 - - - - -

Total Other Income 123,478 141,659 115,365 121,481 115,862 132,442 138,782

Other/Reserve Expense

Reserve

R Clubhouse - exterior paint 9,900 - - - - -

R Clubhouse - redecorate 34,863 1,954 - - - - -

R Ditches and culverts cleaning 8,953 - -

R Dumpster - move and/or replace 5,355 - - - - -

R House signs - stain 2,560 - - - - -

R Managers Unit - improvements 2,756 987 987 - - -

R Pool & Spa - heat exchanger 6,161 - - - - - -

R Pool & Spa - Major overhaul 47,964 - -

R Racquetball Court - refinish 4,500 - - - - -

R Roads - sealcoat - 37,843 37,843 - - -

R Roads, crackseal (yearly) 3,703 6,986 - - - - -

R Snow Plow - replace 7,500 - - - - -

R Tennis Court repair - - - - - -

Subtotal Reserve 77,298 65,857 38,830 38,830 - - -


2011 2012 2013 May 2013 2013 2014 2015


Other

ACC Consulting Expense - - - - - -

ACC Plan Review Expense - - - - - -

Bad Debt - - - - - -

Clubhouse - gutters & heat tape 3,100 - - - - -

Clubhouse - install gas heat 16,450 - -

Clubhouse - Security System - - 10,162 10,162 - - -

Clubhouse - Boiler System - - 33,696 33,696 - - -

Drainage improvements - ClbHs - 9,214 1,010 1,010 - - -

Energy Improvements - 2,397 - - - - -

Fire Mitigation 15,210 14,792 21,540 21,540 20,000 15,000 20,000

Pool/Hottub repair 1,557 - - - -

Racquetball repairs - - - 1,800 - - -

Small Unplanned projects - - - - -

Solar Project - - - - -

Subtotal Other 19,867 42,853 66,408 68,208 20,000 15,000 20,000

Total Other/Reserve Expense 97,166 108,709 105,238 107,038 20,000 15,000 20,000

Other/Reserve Net Income/(Loss) 26,312 32,950 10,127 14,443 95,862 117,442 118,782

Total Revenue 310,705 324,989 308,540 329,833 309,898 326,312 330,816

Total Expense w/o Depreciation 285,197 280,443 293,632 295,349 214,036 208,870 212,034

Total Net Income (Loss) w/o Depr 25,507 44,546 14,908 34,484 95,862 117,442 118,782

Cash Assets less liabilities- Year End 582,038 626,594 597,562 661,859

Dues/month/owner 250 250 250 265 250 265 270

Net Annual Dues Increase - - - - - 17,460 5,820


2011 2012 2013 May 2013 2013 2014 2015


Summerwood - Reserve Funding for Major Projects 2014 using BR Format _ APPROVED Actuals Budget

2.5% <= Inflation Rate/Year 3.0%<= Increase in Funding/yearYear

=> 2,012 2,013 2,014 2,015 2,016 2,017

2014 <= Current Year Base Age at Year

s Year to Base Replace

Code Description YearCurr

Yr LifeReplac

e CostYear Cost

A 1.1 Roads: Dredge ditches & clean culverts 2012 2 2 2014 9,000 9,456 9,000 0 9,456 0 9,934 0

B 1.1 Roads: Crackseal asphalt surfaces 2013 1 1 2014 5,890 6,037 0 5,890 6,037 6,188 6,343 6,501

B 1.1Roads: Sealcoat asphalt surfaces and Stripe 2013 1 5 2018 26,390 29,858 0 26,390 0 0 0 0

B 1.21Roads: Overlay asphalt and rework shoulders 2001 13 20 2021121,400 198,928 0 0 0 0 0 0



C1.1Mail Room: Replace entrance paver sysem 2004 10 10 2014 2,500 3,200 0 0 3,200 0 0 0

C2.1 Mail Room: Repairs/paint _ incl in E1.1 2011 3 8 2019 0 0 0 0 0 0 0 0

C3.1 Pool & Spa: Deck, lines, resurface etc 2004 10 20 2024 52,000 85,208 0 0 0 0 0 0

C3.2 Pool & Spa: Sealant and crackfill 2004 10 10 2014 3,500 4,480 0 0 4,480 0 0 0

D 1.2 Entrance: Tuckpoint & wooden signs 2007 7 7 2014 5,000 5,943 0 5,943 0 0 0

D 2.1 Entrance: Map 2006 8 10 2016 1 1 0 0 0 0 1 0

D 2.1Entrance: Replace street, speed & address signs 2004 10 10 2014 15,000 19,201 0 0 19,201 0 0 0

D 3.1 Mail Room: Windows 2004 10 13 2017 3,000 4,136 0 0 0 0 0 4,136

D 4.1 Guard house: Roof & windows 2004 10 13 2017 1,200 1,654 0 0 0 0 0 1,654

D 5.1 Grounds: Replace/repair split rail fence 2004 10 9 2013 4,700 5,870 0 5,870 0 0 0 0

D 6.1 Roads: Replace/repair post & cable 2004 10 10 2014 10,000 12,801 0 0 12,801 0 0 0

D 7.1 Dumpster: Rebuild enclosure 2011 3 15 2026 5,400 7,821 0 0 0 0 0 0

D 8.1 Pool: Replace fencing 2004 10 12 2016 5,000 6,724 0 0 0 0 6,724 0

D 9.1 Tennis courts: Replace fencing 2001 13 50 2051 1 3 0 0 0 0 0 0

D10.1Grounds: Replace irrigation control clocks 2004 10 10 2014 1,000 1,280 0 0 1,280 0 0 0

D11.1Grounds: Walk path maintenance + new gravel 2004 10 9 2013 3,000 3,747 0 3,747 0 0 0 0

D12.1Vehicles: Replace Vehicle A _ Red Truck 2013 1 8 2021 47,347 57,688 0 47,347 0 0 0 0

D12.2Vehicles: Replace Vehicle B _ White Truck 2006 8 8 2014 31,000 37,770 0 0 37,770 0 0 0

D12.3 Vehicles: Replace Bobcat 2004 10 10 2014 20,000 25,602 0 0 25,602 0 0 0

D12.4 Vehicles: Snow plow replace 2011 3 10 2021 7,500 9,601 0 0 0 0 0 0

E1.1Blds: Paint Clubhs, mail, guard, pump & house signs 2011 3 8 2019 12,500 15,230 0 0 0 0 0 0

E2.1 Sportsplex: Replace atrium windows 2004 10 20 2024 2,000 3,277 0 0 0 0 0 0

E2.2 Sportsplex: :Replace windows 2004 10 20 2024 5,000 8,193 0 0 0 0 0 0

E3.1 Sportsplex: Replace doors 2004 10 15 2019 5,000 7,241 0 0 0 0 0 0

F1.1Sportsplex: Replace metal roof & underlayment 2004 10 13 2017 24,000 33,084 0 0 0 0 0 33,084

F2.1 Sportsplex: Replace low sloped roof 2004 10 13 2017 3,000 4,136 0 0 0 0 0 4,136

G1.1Sportsplex: Replace domestic hot water heaters 2004 10 9 2013 2,600 3,247 0 3,247 0 0 0 0

G2.1 Sportsplex: Replace snow melt boiler 2004 10 11 2015 3,200 4,199 0 0 0 4,199 0 0

G3.1Sportsplex: Replace space heater & air handler 2004 10 9 2013 4,000 4,995 0 4,995 0 0 0 0

G4.1 Pool: Replace boiler 2004 10 14 2018 5,000 7,065 0 0 0 0 0 0

G4.2 Spa: Replace boiler 2004 10 12 2016 3,000 4,035 0 0 0 0 4,035 0

G5.1 Pool: Replace filter 2004 10 13 2017 2,000 2,757 0 0 0 0 0 2,757

G5.2 Spa: Replace filter 2004 10 10 2014 1,100 1,408 0 0 1,408 0 0 0

G6.1 Pool & Spa: Replace circulation pumps 2004 10 9 2013 3,400 4,246 0 4,246 0 0 0 0

G6.2 Pool & Spa: Replace heat exchanger 2012 2 15 2027 22,611 32,747 22,611 0 0 0 0 0

H1.1Tennis Courts: Crackfill, color coat, stripe, nets 2010 4 9 2019 18,000 22,480 0 0 0 0 0 0


=> 2,012 2,013 2,014 2,015 2,016 2,0172014 <= Current Year Base Age at Years Year to Base Replace


Yr Life Replace CostYear Cost

H1.2 Tennis Courts: Overlay, color coat, 2010 4 5 2015 18,000 20,365 0 0 0 20,365 0 0

H2.1 Pool & Spa: Resurface 2004 10 13 2017 10,500 14,474 0 0 0 0 0 14,474

H3.1 Wet Sauna: Replace tiles and grout 2004 10 9 2013 3,100 3,871 0 3,871 0 0 0 0

H4.1Racquetball Court: Refinish walls and floors 2011 3 7 2018 4,500 5,349 0 0 0 0 0 0

H5.1 Sportsplex: Replace exercise equipment 2004 10 9 2013 5,200 6,494 0 6,494 0 0 0 0

I1.0 Sportsplex: General upgrade 2011 3 10 2021 37,000 47,363 0 0 0 0 0 0

I1.1Sportsplex: Replace carpeting _ incl in I1.0 2011 3 7 2018 0 0 0 0 0 0 0 0

I1.2Sportsplex: Replace tile flooring _ incl in I1.0 2011 3 9 2020 0 0 0 0 0 0 0 0

I2.1Sportsplex: Major redecorating _ incl in I1.0 2011 3 10 2021 0 0 0 0 0 0 0 0

I3.1Sportsplex: Replace furnitue _ incl in I1.0 2011 3 7 2018 0 0 0 0 0 0 0 0

I4.1Sportsplex: Restroom facilities _ incl in I1.0 2011 3 7 2018 0 0 0 0 0 0 0 0

I5.1 Managers unit: Replace carpeting 2011 3 9 2020 2,800 3,497 0 0 0 0 0 0

I5.2 Managers unit: Paint interior 2004 10 9 2013 1,000 1,249 0 1,249 0 0 0 0

I5.3 Managers unit: Refurnbish kitchen 2004 10 12 2016 4,000 5,380 0 0 0 0 5,380 0

I5.4 Managers unit: Refurnbish restroom 2004 10 12 2016 3,000 4,035 0 0 0 0 4,035 0

I5.5Managers unit: Replace fax and computer 2002 12 11 2013 2,400 3,149 0 3,149 0 0 0 0

X 11.1 Spa: Replaster 2009 5 20 2029 4,500 7,374 0 0 0 0 0 0

X 11.2 Spa: Replace heat exchanger 2011 3 20 2031 6,200 10,159 0 0 0 0 0 0

X11.3Spa: Major overhaul: drywall, tile &windows 2012 2 20 2032 48,000 78,654 48,000 0 0 0 0 0

X11.4Sportsplex: repair/relace gutters & heat tape 2011 3 15 2026 3,100 4,490 0 0 0 0 0 0

X11.5 Sportsplex: install gas heat/hot water 2012 2 25 2037 16,500 30,590 16,500 0 0 0 0 0

Total Reserve Expense _Reserve Plan/Actual 96,111 116,495 127,179 30,752 36,452 66,742


=> 2,012 2,013 2,014 2,015 2,016 2,017

2014 <= Current Year Base Age at Years Year to Base Replace


Yr LifeReplac

e CostYear Cost

Contingency/Capital Improvement Projects

Z1Contingency/Capital Improvement Projects 2014 0 1 2015 20,000 20,500 0 0 20,000 20,500 21,013 21,538 22,076

Z2.1 Drainage improvements 2012 2 25 2037 33,200 61,551 33,200 0 0 0 0 0 0Z2.2 Drainage improvements 2013 1 25 2038 1,010 1,872 1,010 0 0 0 0 0Z3 Energy improvements 2012 2 50 2062 2,400 8,249 2,400 0 0 0 0 0 0Z4 Solar project 2010 4 50 2060 41,300 141,953 0 0 0 0 0 0 0Z5 Fire mitigation 2013 1 1 2014 21,540 22,079 21,015 21,540 22,079 22,630 23,196 23,776 24,371Z6 Sportsplex: Replace Boiler 2013 1 15 2028 21,600 31,283 0 21,600 0 0 0 0 0Z7 Pool: Mechanical 2013 1 15 2028 12,096 17,519 0 12,096 0 0 0 0 0X8 Managers unit: Replace Stove 2013 1 10 2023 987 1,263 0 987 0 0 0 0 0Z9 Open 2014 0 1 2015 0 0 0 0 0 0 0 0 0Total Contingency Projects 56,615 57,233 42,079 43,130 44,209 45,314 46,447

Total Income _ Operating, Reserve & Contingency _ Projected at inflation rate off current budget 308,540 326,312 336,101 346,184 356,570 367,267

Operating Expense _ Budget/Actual _ Projected at inflation rate off current budget 197,304 193,870 199,686 205,677 211,847 218,202

Net Income before Reserve and Contingency 111,236 132,442 136,415 140,508 144,723 149,065

Reserve Expense _ Budget/Actual (see above for detail) 116,495 127,179 30,752 36,452 66,742 59,373

Contingency Expense _ Budget/Actual 57,233 42,079 43,130 44,209 45,314 46,447

Total Non-Operating Expenses 173,728 169,258 73,883 80,661 112,056 105,820

Total Net Cash Balance YE

Starting => 631,033 597,562 560,746 623,279 683,126 715,793 759,037


=> 2,012 2,013 2,014 2,015 2,016 2,017 2,018

Code Description YearCurr Yr Life

Replace Cost

Year Cost

ANNUAL HOMEOWNERS’ MEETING

Election of Managers

(Board of Directors)


Unfinished Business?

New Business?


Until Next Year…

Thanks for Listening!