Hawthorn Village HOA, Inc.

Transcription

1 Hawthorn Village HOA, Inc. Annual Meeting 2017 Please Sign in and confirm your contact information.

2 Introductions Current Board Members Tim Rogers, Interim President Kathy Brigham, Secretary Carla Rogers, Treasurer Shelly Scovill, Director Tony Beals, Director

3 Committee Members Lawn Maintenance Committee Marian Hill Social Committee Jerry Baird Architecture Control Committee Sandra Stanley-Ryan Richard Howell Kathy Brigham Insurance Committee Dwight Journey Mark Poole

4 Thank you! Refreshments provided by: Marian Hill Lois Pickering Sandra Jarman Carla Rogers

5 Updates Maintenance Company It does: enforce the governing documents and Board decisions, keeps the books for the HOA, prepares a budget, collects dues, deals with contractors the Board approves, takes homeowners maintenance requests, complaints, etc., and gives them to the Board It does NOT: make decisions, file our taxes, send out newsletters or maintain a website, provide funds if we do not have enough money to pay our bills (loan us money) COST: $7 per home, per month - $10,752/year $9 per home, per month - $13,824/year The Board and/or Committee members provide all of the above(except loan us money) at no charge. Accountant fee $2,100/ year Tax preparation is an additional fee for both $385/year

6 Updates Bald Cypress Crash Gate Common Area Well

7 Landscaping Lawn Maintenance Contract & What It Covers Current Project -Common Area Beds of Phase 1 Architectural Control Committee (ACC) Landscaping Donation

8 Painting & Fences Estimated Cost - $172,020 Schedule 2018 reserve fund 2019 Hawthorn Drive ($68,280) 2020 Townhomes & Kingston, Persimmon ($56,940) 2021 Bald Cypress, Norrington ($46,800) 2022 reserve fund

9 Financials Treasurer s Role CPA Financial Controls & Safety Measures Where to Find Information Where Did All the Money Go?

10 Itemized Expenses for June-October, 2016 Item Jun Jul Aug Sep Oct 5 month Totals Administrative (bank fees, CPA, office supplies, ,169 stamps) Insurance, Property Tax 2,445 3,286 5,731 Electricity Water 1,641 1,279 1, ,738 7,184 Lawn 8,742 10,428 18,092 24,849 6,636 68,747 Maintenance Due Issues (Reim or InsFunds) ,279 Total $12,029 $12,355 $22,314 $27,627 $12,267 $86,592

11 Where Did All the Money Go? Month Income Expenses Balance June $12,086 $12,029 $49,246 July $10,003 $12,355 $46,894 August $10,960 $22,314 $35,540 September $10,578 $27,627 $18,491 October $11,122 $12,267 $17,345 5 month totals $54,749 $86,592

12 Profit and Loss Statement January-December 2016 Handout

13 Financials Current (6/5/17) Income: 2017 Dues Received- $132, Dues Owed- $ (4 homeowners) Bank Account Balance- $132, Expenses Item $ Budgeted $ Spent % Spent Administrative (bank fees, CPA, office supplies, $5,665 $2,237 39% stamps, PO box) Insurance, Property Tax $3,370 $0 0% Electricity $1,025 $500 49% Water $14,000 $815 6% Lawn Maintenance $92,500 $25,778 28% Total $116,560 $29,330 25%

14 Financial Goals Pay for landscaping and operations with current dues Establish a painting fund Establish a reserve Determine what improvements are needed and plan ahead

15 Possible dues increases and Implications $25/mo increase $30/mo increase year 1 $38,400 $46,080 year 2 38,400 46,080 balance 76,800 92,160 painting (68,280) (68,280) balance 8,520 23,880 year 3 38,400 46,080 balance 46,920 69,960 painting (56,940) (56,940) balance (10,020) 13,020 year 4 46,080 balance 59,100 painting (46,800) balance 12,300 year 5 46,080 balance $58,380

16 Board s Plan for 2018 Dues To establish funds for painting, a reserve, and other budgetary requirements, dues will increase $30 per month. Beginning in 2018, all homes (houses and townhomes) in the Hawthorn Village HOA, Inc. will have annual dues of $1,440. Annual dues are paid in advance and are due January 1, If you prefer to pay dues in two installments, $ will be due January 1, 2018 $ will be due July 1, 2018 (Includes a $5 per month processing fee)

17 2018 Dues These payment options provide the HOA with a reserve to remain solvent and pay expenses, as required by the HOA Covenants. (C: 13.4, 14.3) We will need more funds earlier in the year to pay for painting, so paying dues monthly will put the HOA at risk. It also keeps down our bank fees by at least $300.00/year. Because of the six month advance notice, it provides homeowners time to budget.

18 Proposed Changes to Bylaws Change number of Board Members at least 3 and no more than 5 (BL: A4.S1) Homeowners are listed alphabetically, or by address (BL: A11.S7)

19 Proposed Changes to Covenants Name of HOA matches in both bylaws and covenants Hawthorn Village HOA, Inc. (C: 1.2, 18.1) Each homeowner gets one vote (C: 11)

20 Proposed Changes to Covenants Specific List of what home maintenance is covered by dues: Maintenance of the exterior of each residence shall mean only repainting and re-caulking as needed as determined by the ACC. (C: 9) Payment options for annual dues: Common expenses shall be assessed in one of the follow ways: 1) yearly in advance on the first day of January unless another date is specified by written notice from the Board; or 2) in two equal payments (plus an additional processing fee of no more than 5%) made semi-annually in advance on the first day of January and the first day of July, (C: 13.3)

21 Communication Website: hawthorn-hoa.com contains the most current information and ways to contact the Board s are forwarded to the Board

22 Facebook Page for Hawthorn Village Created for homeowners, by homeowners. If you are interested in joining, go to: Hawthorn Neighborhood Association The Village and request an invitation.

23 Questions & Comments

24 Proposed Changes to Bylaws & Covenants Suggested motion: To approve the changes to Bylaws and Covenants as proposed.

25 Nominations & Election of Board Members John Symcox: business consultant; emphasis in financial and strategic planning for small businesses, nonprofits and homeowners associations; current president of a nonprofit and a nonprofit volunteer Tim Rogers: interim president since 3/15/17; currently the executive director of the Metropolitan Library System; experience on community and professional boards Shelly Scovill: prior to becoming a board member on 10/21/16, she served on HOA insurance and lawn committees; work experience includes: insurance, tax preparation, customer service; experience on community and professional committees/boards Carla Rogers: treasurer since 3/30/17; retired math teacher, creator/manager of the HOA website; experience in project management; current school and library volunteer Nominations from the floor (write-in candidates)

26 Adjournment Immediately following the annual meeting, the newly elected board will hold a brief meeting to elect officers and conduct other regular business.