SHELLEY LAKE ESTATES Annual Homeowner Meeting. February 1, 2016

Transcription

1 SHELLEY LAKE ESTATES 2016 Annual Homeowner Meeting February 1, 2016

2 AGENDA 7:00 Call to Order / Agenda Review / Quorum Verification 7:05 Introductions / Directors / Officers / Committee Chairs & Key Volunteers 7:10 HOA Overview / Board Meetings 7: Goals & Accomplishments 7: Goals 7: Financial Reports & Reserve Study 7: Budget / Approval 7:55 Our Community 8:00 SHORT BREAK 8:10 Election of Officers and Zones 2 & 6 Directors 8:20 Committee Reports 8:25 Volunteer Recognition 8:35 New Business / Q & A 8:55 Lake Ice Danger Reminders / Door Prize Drawings 9:00 Adjournment / Clean-Up 2

3 QUORUM VERIFICATION 40% of the total owners must be present, in person or by proxy, to constitute a quorum 8 developer + 6 builder lots homeowner lots = 248 total 248 x 40% = 99.2 owners (QUORUM) ESTABLISHMENT OF QUORUM Total the number of lot owners present (in person or by proxy) Quorum If this totals 100 or more, a quorum is established and the meeting will be called to order No Quorum If this total is less than 100, proceed with the informational part of the meeting and adopt the budget (RCW (3)) 3

4 DIRECTORS & OFFICERS DIRECTORS Manage affairs of the HOA Sharon McHugo, Director Zone 1 Mike McKinney, Director Zone 2 Larry Carroll, Director Zone 3 Bill Martin, Director Zone 4 Bob Harris, Director Zone 5 Dan Pfeiffer, Director Zone 6 (out-going) Diana Wilhite, Director Zone 7 OFFICERS Bob Harris, President Bill Martin, Vice President Sabrina Buechler, Treasurer Nita Haag, Secretary 4

5 COMMITTEE CHAIRS / KEY VOLUNTEERS COMMITTEE CHAIRS Claudia Hersey, Communications (stepping down; need replacement) Manage general communications and community events Derek Buckley, Architectural Maintain community standards and aesthetics Bob Harris, Maintenance Manage and maintain common areas KEY VOLUNTEERS Derek Buckley, Gate Keeper Tom Holcomb, Gate Keeper Joe Tran, Webmaster Monty Leinum, Maintenance 5

6 HOA OVERVIEW Nonprofit Corporation Can never be dis-incorporated (infinite life) Operated by Volunteer Board of Directors Charged with managing the best interests of the Association according to State Law and governed by our Covenants and By-Laws 6

7 BOARD MEETINGS Residents are invited to attend meetings of the Board of Directors 2016 Planned Meeting Dates (subject to change) March 24 June 16 September 15 November 17 All meeting MINUTES are posted on the HOA website at 7

8 2015 GOALS & ACCOMPLISHMENTS SHORELINE / HABITAT IMPROVEMENT Water Quality - good Minor Planting CAPITAL IMPROVEMENTS / MAJOR REPAIRS Gate 1, exit gate repairs - $3K Decorative stream leaking - repaired Maintenance Building COMMUNITY EVENTS Easter Egg Hunt and Relay Races, Arbor Day Shoreline Clean-up, Community Garage Sale, Ice Cream Social and Outdoor Movie Night, National Night Out Potluck BBQ, Water Slide Fun in the Sun OTHER Audit of 2014 book s - (3-year cycle) Reserve Study - (3-year cycle) Sidewalk snow plowing 8

9 CAPITAL IMPROVEMENTS Maintenance Building 9

10 2015 COMMUNITY EVENTS NATIONAL NIGHT OUT POTLUCK BBQ EASTER EGG HUNT ICE CREAM SOCIAL COMMUNITY YARD SALE OUTDOOR MOVIE NIGHT 10

11 STATUS REPORT SALTESE FLATS WATER RESTORATION PROJECT Start delayed for Flood Plain Studies and Permitting Estimated Start

12 2016 GOALS HABITAT MANAGEMENT PLAN Shoreline Maintenance & Planting Water Quality Monitoring MAINTENANCE PROJECTS Maintenance Building complete landscaping Road crack-sealing Radar Speed Display Sign 12

13 2015 FINANCIAL REPORT Actuals vs. Budget OPERATING FUND Actual Budget Revenues: % of income Dues and Assessments: 226 $45/lot/month $ 123,351 $ 122,040 Other (gate remotes, legal reimb.) 1, Late fees Interest , % 123,090 Expenditures: Utilities: Power and Water 10,743 9,000 Telephone 1,594 1,450 12, % 10,450 Repairs and Maintenance: Roads, R&M - 8,000 Snow Plowing 2,568 General (sprinklers, pump, gate, etc.) 7,285 7,500 9, % 15,500 Shoreline HMP - 0.0% 2,500 Landscaping Maintenance: 23, % 25,000 Insurance: 5, % 5,100 Improvements: (includes Maintenance Building) 32, % 27,500 ACCRUAL BASIS Office and General: Meeting/Hospitality/Events 2,898 2,200 Postage/delivery Office supplies (incl gate remotes) Other (incl meals & entertainment ,500 Miscellaneous (web site, CIA, etc.) Forgiveness of Debt/Bad debts Property & Inc taxes , % 5,215 Professional Services: Legal 2,110 2,000 Audit 2,500 2,500 Replacement Fund Study 1,550 1,100 6, % 5,600 Total Expenditures: 94, % 96,865 Excess (deficiency) of revenue over expenses from operations 31, % 26,225 Fund balance, beginning 54,607 54,607 Replacement reserve provision (40,680) (40,680) Reserve Fund Interest (150) (150) Fund balance, end $ 45,341 $ 40,152 13

14 2015 EXPENDITURES SNAPSHOT 14

15 ASSETS Current Assets Che ck ing/savings American West Bank 43, BALANCE SHEET JANUARY 1, 2016 American West Bank (Reserve) 121, Total Che ck ing/savings 164, Accounts Re ce ivable Accounts Re ce ivable Total Accounts Re ce ivable Other Current Assets Pre paid Ins urance s 2, Total Other Current Assets 2, Total Current Assets 166, Fixed Assets Buildings De pre ciation M ainte nance Building 29, Total Buildings 29, Com pute rs/ele ctronics Com pute r De pre ciation Total Com pute rs/ele ctronics Vehicles ATV 13, De pre ciation -1, Total Ve hicle s 11, Total Fixed Assets 41, TOTAL ASSETS 208, LIABILITIES & EQUITY Equity Ope ning Balance Equity 208, Total Equity 208, TOTAL LIABILITIES & EQUITY 208,

16 RESERVE FUNDING 2014 AND Reserve Fund Beginning Balance $ 80,316 $ 40,447 Interest Additions 40,680 39,780 Expenditures 0 0 End Balance 121,146 80,325 % Funded (Y/E) 43% 33% Reserve Study Projected Balance 125,514 68,688 Fully Funded Balance 280, ,803 Projected % Funded 45% 28% 16

17 FULL RESERVE FUND STATUS? FULL FUNDING PLAN Per RCW Section 4 (a) Current Monthly Reserve Contribution $3,390 Budgeted (proposed) monthly reserve contribution amount $4,113 Recommended monthly reserve contribution amount $4,230 Recommended funding plan FULL Per RCW Section 4 (b) Are any additional regular or special assessments scheduled? YES Pre RCW Section 4 See Exhibit A - Reserve Study Based upon the most recent reserve study, and current contribution rate, will the Association have sufficient funds to cover the anticipated reserve expenses over the next 30 years? Per RCW Section 4 (d) NO If reserve account balances are not sufficient, see Exhibit A, what additional assessments may be necessary, per unit, per year. 7/2016 7/2021 $5.00 $5.00 Per RCW Section 4 (e) Date the most recent reserve study was completed 9/9/15 Percent funded at the time of the most recent reserve study 43% Projected year end reserve fund balance for the current fiscal year at the time of preparing the budget $121,146 Projected year end reserve fund balance for the current fiscal year at the time of the reserve study $121,146 Per RCW t:i Section 4 (f) Projected Year End Reserve Fund Balances Reserve study recommendations $353,212 $392,966 $433,886 $463,411 $516,370 Based on current reserve contributions (WITHOUT DUES INCREASE) $161,496 $206,462 $228,949 $272,869 $309,767 funded based on current contributions 46% 53% 53% 59% 61% Per RCW Section 4 (g) Projected Year End Reserve Fund Balances Based on proposed reserve contributions (WITH DUES INCREASE 7/1/16) $168,546 $222,782 $264,789 $323,349 $375,127 funded based on proposed contributions 48% 57% 61% 70% 73% 17

18 RESERVE FULL FUNDING PLAN YEAR PROJECTED REVENUES FUNDS TO RESERVE RES STUDY EST EXPENSES END BALANCE FULL FUNDED BALANCE 2016 Res Study PERCENT FUNDED $122,340 $40,680 $121,146 $280, % $133,950 $49,650 $1,950 $168,546 $353, %? $142,800 $57,120 $2,884 $222,782 $392, % $145,200 $58,080 $16,073 $264,789 $433, % $5 INCR 7/ $146,400 $58,560 $323,349 $463, % $148,800 $59,520 $7,742 $375,127 $511, % $156,240 $66,960 $104,486 $337,601 $553, % $5 INCR 7/ $163,680 $74,400 $2,328 $409,673 $498, % $163,680 $74,400 $40,586 $443,487 $548, % $163,680 $74,400 $20,205 $497,682 $561, % $163,680 $74,400 $24,045 $548,037 $597, % $171,120 $81,840 $2,621 $627,256 $631, % $5 INCR 7/ $186,000 $89,280 $31,837 $684,699 $689, % 18

19 2015 INDEPENDENT AUDIT RCW requires annual independent audit May vote each year to waive the audit Requires 67% of the votes by owners, in person or by proxy, (if quorum present) Estimated cost = $2,500 Previously schedule every 3 years; next audit scheduled in 2018 for 2017 Financials o Completed 2014 audit in

20 2016 OPERATING BUDGET vs Actual OPERATING FUND (accrual) Revenues: % of income Dues and Assessments: 235 $45 X 6/$50 X 6 months $ 133,950 $ 123,351 Other (gate remotes, legal reimb.) 500 1,533 Late fees Interest , % 125, % Expenditures: Utilities: Power and Water 10,500 10,743 Telephone 1,700 1,594 12, % 12, % Repairs and Maintenance: Roads, R&M 2,500 Snow Plowing 6,000 2,568 General (sprinklers, pump, gate, etc.) 9,000 7,285 17, % 9, % Depreciation Expense 2, % % Landscaping Maintenance: 26, % 23, % Insurance: 5, % 5, % Improvements: 9, % 2, % ACCRUAL BASIS Office and General: Meeting/Hospitality/Events 2,750 2,898 Meals & Entertainment Postage/delivery Office supplies A(incl remotes) Other Miscellaneous (web site, CIA, etc.) Forgiveness of Debt/Bad debts 540 Property & Inc taxes , % 4, % Professional Services: Legal 2,500 2,110 Audit 2,500 Replacement Fund Study 1,550 2, % 6, % Total Expenditures: 77, % 66, % NET INCOME FROM OPERATIONS: 57, % 59, % Fund balance, beginning 45,641 54,607 Replacement reserve provision (49,350) (40,680) Interest earned, Reserve Fund (217) 150 Depreciation Add Back (non-cash expense) 2,216 1,556 Fund balance, end (before Cap Exp) $ 55,718 $ 75,036 Capital Expenditures (Maintenance Building) - (29,395) Operating Fund Balance* $ 55,718 $ 45,641 (* Cash and equivalents) 20

21 2016 PROPOSED EXPENDITURES SNAPSHOT 4.2% 22.4% 4.1% 21

22 2016 PROPOSED BUDGET/APPROVAL CC&R Art.9.3 requires the Board develop a budget and then fix dues to support it RCW states unless a majority of the owners reject the budget, in person or by proxy, the budget is ratified, whether or not a quorum is present In the event the proposed budget is rejected, the periodic budget last ratified by the owners shall be continued until such time as the owners ratify a subsequent budget. 22

23 2015 DUES PAYMENT SCHEDULE Regular assessment increases $5 per month effective July 1, dues payment schedule: 1st half assessment $270 - due Feb. 1 (Grace period to Feb. 28) 2nd half assessment $300 - due Aug. 1 (Grace period to August 31) Next scheduled $5.00 per month dues increase July 2021 Recommend utilization of Bank Bill-Pay Services 23

24 HOW TO CONTINUE TO KEEP DUES LOW SIGN-UP SHEET AT THE REGISTRATION TABLE The health and well-being of our Shelley Lake Community depends on you! We all have a vested interest in where we live. This is your property and your neighborhood; please, consider volunteering your time and talent on behalf of the Association. 24

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26 ELECTIONS 26

27 ELECTION OF DIRECTOR & OFFICERS NOMINATION PROCESS DIRECTOR TERMS DIRECTOR ELECTION Nominations / Election o o Director Zone 2 (incumbent Mike Kenney) Director Zone 6 (out-going: Dan Pfieffer) OFFICER ELECTIONS Nominations / Election o President (incumbent Bob Harris) o Vice President (incumbent Bill Martin) o Treasurer (incumbent Sabrina Buechler) o Secretary (incumbent Nita Haag) 27

28 NOMINATION PROCESS Director and Officer nominations are open to homeowners in good standing / within the election area. When nominating, (yourself or someone else), please state for the record: Your Name Your Address Nominee's Name If nominated, please state for the record: Your Name Your Address Why you would like to be considered (or not) for the position for which you are nominated NOTE: Officers/Directors will be asked to sign the Code of Conduct 28

29 DIRECTOR TERMS Term expiration date is at the Annual Meeting each year. ZONE DIRECTOR Sharon McHugo Mike Kinney Larry Carroll Bill Martin Bob Harris Dan Pfeiffer Diana Wilhite TERM EXPIRES TERM EXPIRES TERM EXPIRES TERM EXPIRES TERM EXPIRES TERM EXPIRES TERM EXPIRES 29

30 DIRECTOR ELECTION ZONE 2 ZONE DIRECTOR 2016 VOTING AREA 2 Mike Kenney Term Expires NOMINATIONS E. 5 th Lane: E. 6 th Lane: S. Homestead Lane: S. Moore Lane:

31 DIRECTOR ELECTION ZONE 6 ZONE DIRECTOR 2016 VOTING AREA 6 Dan Pfeiffer (Out-going) Term Expires NOMINATIONS E. 9 th Lane: E. 10 th Lane: 16411, 16415, 16419, 16421, 16425, 16507, 16511, S. Shelley Lake Lane:

32 Nominee - PATTI DIKES 32

33 OFFICER NOMINATIONS POSITION Incumbent Nominations PRESIDENT Bob Harris VICE PRESIDENT Bill Martin TREASURER Sabrina Buechler SECRETARY Nita Haag RCW requires an annual election of officers (in the absence of a specified term in our By-Laws) 33

34 2015 COMMITTEE REPORTS ARCHITECTURAL COMMITTEE Reminder that Spring projects may require committee approval Timely submission of required applications Architectural guidelines are on the website; including preapproved items. Click on Architectural Committee CC&R Art 7.2: No structure, improvement, landscaping fence or alteration of any kind until approved in writing by Architectural Committee 34

35 2016 COMMUNITY EVENTS COMMITTEE CHAIRPERSON NEEDED TENATIVE DATES: MON. FEB. 1 - SAT. APR SAT. JUN FRI. JUL TUE. AUG Annual HOA Meeting Arbor Day Shoreline Clean-Up & Planting Community Garage Sale Ice Cream Social and Outdoor Movie Night National Night Out Potluck BBQ THE COMMUNICATIONS COMMITTEE ALWAYS APPRECIATES YOUR HELP AND PARTICIPATION AT OUR EVENTS!

36 VOLUNTEER RECOGNITION Board of Directors Officers Committee Chairs Communications Committee Architectural Committee Maintenance Committee Gatekeepers Webmaster SNOW PLOW DRIVERS Monty Leinum Mike Kenney Don Moore Mike Jones Rick Wilhite 36

37 AWARDS VOLUNTEER OF THE YEAR 37

38 Car and garage prowling, happens in the best of neighborhoods Gate codes hold close, do not pass out to contractors, casual visitors, etc. Contractors (lawn care, etc.) requiring regular entry can request a daylight only code Guests have them call from the gate controller; press 9 to let them in Cars tailgating at entry gates stop after entry to allow gate to close Close pedestrian gates Lock vehicles outside, especially at night Do not leave valuables in vehicles, or at least not in plain sight Police recommend removing garage door openers from vehicles parked outside Lock outside doors at night (garage man doors too) Report all thefts or suspicious activity to crime check ( ) Crime in progress call 911 Record serial numbers of valuables Inscribed driver s license number on tools/bikes, etc. Be wary of leaving garage doors open unattended 38

39 NEW BUSINESS / Q&A Hard Stop at 8:55 p.m. Following the Q&A, if you can, please stay to help clean-up thank you! If you would like to comment or ask a question please: 1. Raise your hand and wait to be recognized 2. State your first and last name for the record Speak clearly into the microphone so all homeowners can hear your comment or question Be as brief as possible so everyone wishing to speak may have a chance to be heard 39

40 THIN ICE WARNING! SOME COLD FACTS ABOUT THIN ICE Four inches of clear, newly-formed ice may support one person on foot, while a foot or more of old, partially-thawed ice may not. STAY CLEAR OF THE AERATION SYSTEMS ON THE LAKE! The systems circulate compressed air through diffusers to oxygenate the water and keep part of the lake ice-free, helping to keep fish alive. Ice seldom freezes uniformly. It may be a foot thick in one location and only an inch or two just a few feet away. Ice near shore can be weaker than ice that is farther out. If you observe anyone out on the ice, it s appropriate to warn them of the dangers! 40

41 DOOR PRIZE DRAWINGS AND THE WINNER IS 41

42 TIME To Clean-up THANK YOU FOR HELPING 42