the woods of wayne homeowner’s association annual meeting 3-2-2013 the woods of wayne...
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The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
The Woods of Wayne Homeowner’s Association
Annual Meeting
Saturday, April 26, 2014
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Annual Meeting Agenda
Welcome & Introductions President’s Report - 2013 Review Treasurer's Annual Report Committee Reports New Business
- 2014-2015 Board Member Elections- Fines and Procedures
Open discussion
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
2013-14 Board Members
OfficersPresident – Joe FranzeseVice President – Bob ReedSecretary – Syed HussainTreasurer - Patti Orban
DirectorsJennifer Donatelli Mario Conte Steve Joyaux Joe FranzeseMarianne Pope Dan Mastropieri Scott Berndt Bob Reed Mark Soppi Syed Hussain Dan Gravina
Committee ChairsArchitectural Review – Todd ErnestCommunications – Syed Hussain, Chairman Landscape – Marianne Pope / Dan Mastropieri Co-ChairmanPonds – Jennifer Donatelli / Scott Berndt Co-ChairmanRoads – Mark Soppi / Dan Gravina, Co-Chairman `
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
2013 Review Impact of the Economy
- No Assessment increase- General reserve for additional
enhancements for future projects http://www.woodsofwayne.com
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
24 Month Sales History
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Treasurer's Annual Report
Patti Orban
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2013 Budget vs. ActualJan - Dec 13 Budget $ Over Budget % of Budget
Ordinary Income/ExpenseIncome
Assoc. Dues ($660.00/ lot) 73,920.00 73,920.00 0.00 100.0%Lien/Late Charges 268.00Miscellaneous Income 960.00 660.00 300.00 145.46%
Total Income 75,148.00 74,580.00 568.00 100.76%
Gross Profit 75,148.00 74,580.00 568.00 100.76%
ExpenseAdministration 1,470.25 1,900.00 -429.75 77.38%Bad Debts for Homeowners 0.00 3,000.00 -3,000.00 0.0%Electricity 2,824.21 5,000.00 -2,175.79 56.48%General Reserve Funding 10,360.68Insurance 5,563.00 5,563.00 0.00 100.0%Internet Service 400.00 350.00 50.00 114.29%Landscape 19,436.55 20,000.00 -563.45 97.18%Miscellaneous 1,667.13 1,000.00 667.13 166.71%
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2013 Budget vs. ActualJan - Dec 13 Budget $ Over Budget % of Budget
Pond Stabilization/Maintenance 8,449.45 13,000.00 -4,550.55 65.0%Professional Fees 1,000.00 1,000.00 0.00 100.0%Repairs/Maintenance 9,233.70 8,850.00 383.70 104.34%Road Improvements-Accrued Funds 5,000.00 5,000.00 0.00 100.0%Snow Plowing 9,792.50 10,000.00 -207.50 97.93%
Total Expense 75,197.47 74,663.00 534.47 100.72%
Net Ordinary Income -49.47 -83.00 33.53 59.6%
Other Income/ExpenseOther Income
Interest Income 49.47 83.00 -33.53 59.6%Total Other Income 49.47 83.00 -33.53 59.6%
Net Other Income 49.47 83.00 -33.53 59.6%
Net Income 0.00 0.00 0.00 0.0%
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2013 Financial Statement31-Dec-13
ASSETSCurrent Assets
Checking/SavingsChecking 123,175.50Great Rate Money Market 42,887.76Petty Cash 114.79
Total Checking/Savings 166,178.05
Accounts ReceivableHomeowner's Unpaid Invoices 11,460.00
Total Accounts Receivable 11,460.00
Other Current AssetsAllowance-Homeowners Bad Debts (12,640.00)
Total Other Current Assets (12,640.00)
Total Current Assets 164,998.05
TOTAL ASSETS 164,998.05
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2013 Financial Statement31-Dec-13
LIABILITIES & EQUITYLiabilities
Current LiabilitiesAccounts Payable
Accrued "Legal Fees" 5,703.66Accrued "Road Improvements" 114,896.56Accrued"General Reserve-Uncat." 43,272.46
Total Accounts Payable 163,872.68
Total Current Liabilities 163,872.68
Total Liabilities 163,872.68
EquityOpening Bal Equity 39,662.91Retained Earnings (38,537.54)
Total Equity 1,125.37
TOTAL LIABILITIES & EQUITY 164,998.05
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2014 Budget OverviewJan - Dec 14
Ordinary Income/ExpenseIncome
Assoc. Dues ($660.00/ lot) 73,920.00Miscellaneous Income 660.00
Total Income 74,580.00
Gross Profit 74,580.00
ExpenseAdministration 1,680.00Electricity 3,500.00Insurance 5,670.00Landscape 20,500.00Miscellaneous 1,140.00Pond Stabilization/Maintenance 13,000.00Professional Fees 1,000.00
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
FY 2014 Budget OverviewJan - Dec 14
Expense (continued)Repairs/Maintenance 10,150.00Road Improvements-Accrued Funds 5,000.00Snow Plowing 13,000.00
Total Expense 74,640.00
Net Ordinary Income -60.00
Other Income/ExpenseOther Income
Interest Income 60.00Total Other Income 60.00
Net Other Income 60.00
Net Income 0.00
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Assessment HistoryYear Dues Year Dues1990 $200.00 2003 $500.00 Pond Assessment1991 $200.00 2004 $495.001992 $200.00 2004 $850.00 Road Assessment1993 $220.00 Increase $20.00 2005 $545.00 Increase $50.001994 $320.00 2006 $600.00 Increase $55.001995 $445.00 2007 $660.00 Increase $60.001996 $400.00 2008 $660.001997 $450.00 Increase $50.00 2009 $660.001998 $450.00 2010 $660.001999 $450.00 2011 $660.002000 $450.00 2012 $660.002001 $495.00 Increase $45.00 2013 $660.002002 $495.00 2014 $660.00
Changes/Increases Changes/Increases
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Committee Reports
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Architectural Review
Architectural Review Responsibilities- Review & approval of all plans and specifications for
new homes and physical improvements Architectural Guidelines
- Location, size, type, style, quality and exterior appearance of home on property
- erection of fences, pools or other permanent structures
- Guidelines are available on our website
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Roads Committee
Roads Committee Responsibilities- Management of the contractors responsible for road
maintenance, cleaning/sweeping, and snow removal- Budget authority and responsibility- Planning for future road maintenance and improvements.
Monitor road durability
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Landscape Committee
Results 2013- Maintained common areas per landscape contract.
Goals for 2014- Remove dead birch tree at Mountain Ash Entrance- Acquire bids for cleaning both entrance signs- Oversee maintenance of common areas per
landscape contract.- Monitor lot mowing per schedule for unimproved lots
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Pond CommitteeSHORT-TERM GOALS/IMPROVEMENTS: Aerators are up and running. We will be replacing 2 aerators in the
North Pond this spring. Treatment of duckweed and algae May through September Aquashade will be used in all 3 ponds to inhibit algae/duckweed
growth Goose Patrol: Goose Patrol may be used on an as needed basis in
May, June, September, and October depending on the budget. South Pond: Aerators were installed and are now running in the
South Pond.
LONG-TERM GOALS: Shoreline restoration Erosion control Culvert maintenance
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
New Business
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
2013-2014 Board Elections
Nominations due May 15, 2014 Ballots will be mailed May 15, 2014 Ballots will be counted June 30, 2014
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Fines and Procedures
The primary responsibilities of the Woods of Wayne Homeowners Association Board is to manage the Association on behalf of our homeowners by enforcing our Covenants, Conditions and Restrictions, ensuring the financial soundness of the Association, and by maintaining the common areas within our community. These primary responsibilities protects everyone's interest in preserving of our community.
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Fines and Procedures
With this goal, the Board is in the processing of establishing a Schedule of Fines and Procedures for violations which may occur in connection with the Covenants, Conditions and Restrictions of the Woods of Wayne Homeowners Association.
In the near future, you will all be receiving this Schedule of Fines and Procedures.
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Open Discussion
The Woods of Wayne Homeowner’s AssociationAnnual Meeting 3-2-2013
Adjournment