RIVER FOREST HOMEOWNER S ASSOCIATION, INC Johnstonville Road, Forsyth, GA 31029

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1 RIVER FOREST HOMEOWNER S ASSOCIATION, INC Johnstonville Road, Forsyth, GA February 22, 2018 Members of the River Forest Home Owners Association RE: Annual Reports, 2018 Budget and Dues Billing River Forest Owners: The 2018 HOA Assessment will be $1,000 for It has remained the same for 4 years. Payment is Due by March 25, Included in this annual report is a list of expenditures by category for the calendar year 2017, the 2018 budget, various informational maps concerning building, sales, and location of residential homes. In 2017, dues collections were 82% at years end, with 119 owners having past due balances. 42 properties owed the second installment, 59 properties owed a full year, 18 properties had a balance of more than one year. So far in 2018, 57 of the 119 properties have paid their past due balances in full. These payments brought the collections to 91% for All properties with a past due balances in excess of 1 year have had liens placed on record in the Monroe County Clerk of Superior Court. The revenue paid to the HOA in 2017 is broken down as follows: Review Fees (Road Fund) $ 38, Community Room Rental $ 1, Dues Collected $558, Previous Years Dues $ 18, Club Corp Contribution $ 27, Car Stickers $ 3, Mailboxes $ 3, Late Fees and Penalties $ 1, Several things were accomplished in Some of these include the completion of the restroom at the soccer park, the playground equipment at both the park and kid s pool were refurbished with swing sets added, a new roof on the covered bridge, and the upgrade to high speed fiber internet service. As owners, we are fortunate to have access to high speed internet because many areas of Monroe County do not. With an affirmative vote of 2/3 s of the Association membership, the proposed 15 th Amendment to the River Forest Restrictive Covenants was approved and has been recorded in the Clerk of Courts office. This Amendment raises the minimum square footage requirement on all lots and established a funding source for future road improvements and maintenance. A copy of the amendment is included with this information. Sales in River Forest were steady with over 57 sales transactions involving 165 properties in So far in 2018 there have been 8 sales with 4 pending. The home and lot values are trending upward.

2 As of today, there are 217 completed homes in the community. There are 24 homes currently under construction. 14 of the new homes under construction are custom homes already sold. The Association s Board of Directors for 2018 are Dar Bohnenstiehl President Angie Walters Vice President Karen Vesper Secretary Kelly Jungberg - Treasurer Bo Brindley If you have any questions or concerns regarding this information, please submit them in writing to: River Forest HOA 3300 Johnstonville Road Forsyth, GA Or them to River Forest Superintendent at Jep3@aol.com. The River Forest HOA Board of Directors

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9 RIVER FOREST HOMEOWNERS ASSOCIATION, INC. Balance Sheet as of December 31, 2017 Assets Cash CD $ 229, Checking $ 69, Undeposited Funds $ - $ 299, Receivables Accounts Receivable - Canongate $ 5, Accounts Recievable - Tag Fees $ 1, Accounts Recievable - Mailboxes $ Accounts Receivable - Abdn Homes $ 2, Current Dues Recievables (2017) $ 97, Past Dues Receivables ( ) $ 40, $ 147, Real Estate Construction Entrance Lots - 8 Acres $ 80, HOA Owned Lots - 25 Lots near Back Entrance $ 625, HOA Owned Lots - 2 Lots Acquired through Tax Sale $ 50, HOA Owned Lot - Adjacent to Soccer Park $ 30, $ 785, Liabilities $ 1,231, Accounts Payable Signature Tennis $ 6, $ 6, LOC Farmers Bank $ - Retained Earnings and Equity $ 1,225, $ 1,231,719.44

10 2017 Expenses Employee Staffing Security $ 144, Maintenance - Additional Summer Staff $ 18, Cleaning $ 13, Staffing Totals $ 176, General Administration Insurance $ 10, Postage $ Secretarial $ 2, Supplies, Stickers Misc $ Legal Counsel and Fees $ County Taxes $ Community Manager $ 31, Reimbursements $ 2, Interest on LOC and other Bank Fees $ Utilities Electricity $ 61, Water $ 11, Trash $ Phone Service $ 4, Dish Network $ 1, Grounds Maintenance Right of Way and Common Area Maintenance $ 168, Weed Control & Fertilizer Common Areas $ 8, Misc Repairs(Buildings and Grounds) $ 31, Yard Maintenance on Vacant Homes***** $ 1, Pest Control $ 2, Pool and Tennis Areas Pool Service and Lifeguards $ 40, Pool House and Fitness Supplies $ 1, Pool Permit $ Tennis Court Maintenance $ 1, Life Guard Chair $ Pool Pump Repair $ 3, Fitness Equipment Repair $ Road and Right Of Way Repairs Road Shoulder Repairs $ 7, Major Purchase Additional Umbrellas for pools $ Restroom Facilities at Soccer Park $ 44, Additional Lanscaping $ 8, Refurbish Playgrounds and Add Swing set $ 19, RFID Stickers for Gate $ 2, Mailboxes $ 4, Fireworks $ 2, Total $ 656,571.12

11 2018 Budget Employee Staffing Security $ 150, Maintenance - Additional Summer Staff $ 18, Cleaning $ 13, Staffing Totals $ 181, General Administration Insurance $ 11, Postage $ Secretarial $ 2, Supplies, Stickers Misc $ 1, Legal Counsel and Fees $ 1, County Taxes $ Community Manager $ 31, Reimbursements $ 4, Interest on LOC and other Bank Fees $ Utilities Electricity $ 65, Water $ 12, Trash $ Phone Service $ 5, Dish Network $ 1, Grounds Maintenance Right of Way and Common Area Maintenance $ 170, Weed Control & Fertilizer Common Areas $ 10, Misc Repairs(Buildings and Grounds) $ 40, Pest Control $ 3, Pool and Tennis Areas Pool Service and Lifeguards $ 45, Pool House and Fitness Supplies $ 2, Pool Permit $ Tennis Court Maintenance $ 10, Pool Pump Repair $ 3, Fitness Equipment Repair $ 3, Road and Right Of Way Repairs Asphalt Repairs $ 35, Dirt $ 5, Erosion Control and Grassing $ 5, Road Shoulder Repairs $ 15, Major Purchase Additional Umbrellas for pools $ Sun Shades at Pool Playground $ 1, Upgrade Boxankle Entrance electronic gate and cameras $ 48, Additional Lanscaping $ 10, Mat for Batting Cage $ Gravel At Construction Entrance $ 1, Volleyball Conversion $ 1, Tennis Court Maintenance Equipment $ 1, Bocce Ball Conversion $ 5, Fireworks $ 2, Total $ 736, Cash On H $ (59,235.00) Club Corp $ (20,000.00) $ 657,740.00

12 Homes Under Construction February 2018

13 Occupied Homes Feb 2018

14 2017 Sales