WOODLANDS HOMES ASSOCIATION, INC.

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1 DATE: April 13, 2009 TO: All Woodlands Home Owners FROM: Steve C. Johns SUBJECT: 2009 Annual Meeting The Woodlands Homes Association Needs You THE ANNUAL MEETING OF WOODLANDS HOME OWNERS WILL BE HELD MONDAY, MAY 4, 2009 AT 7 PM AT THE CLUB HOUSE. PLEASE CONSIDER THIS TO BE AN OFFICIAL NOTICE OF THE MEETING. It is once again that time of year in which we as Home Owners approve a budget and a slate of Directors for the fiscal year commencing June 1, 2009 and ending May 31, Attached to or included in this memorandum are the following:, Slate of Directors YearEnd Projection Budget and Five Year Projection Proxy SUMMARY INFORMATION Budget for Fiscal (June 1, 2009 to May 31, 2010) The Board has proposed that there be no increase in Annual Dues per household for fiscal year Summarized below is a preliminary budget. A final budget will be presented at the Annual Meeting. Fiscal Year (April 2009 Estimate) Projected Annual Ongoing Operations Income ($ per Home Owner) plus estimated bank interest income $92,082 Operating Expenses (including Yearly Capital Replacement Funding) $92,070 Annual Capital Replacements Total Income less Operating Expenses $12 Yearly Capital Replacement Funding ($8,879) Projected Capital Expenditures (Gov t Mandated Pool Drain Modification, Replace Cement Walks at Clubhouse, Deck Staining $17,100 at Clubhouse, Entrance Monument Repair, Fill Fence Gap at Pool) Total Capital Replacement Outflows $8,221 Income less Operating Expenses less Capital Replacement Outflows ($8,209) Capital Replacement Reserve Beginning Capital Replacement Reserve $29,479 Projected Year End Reserve $15,826 Reserve $26,322 Projected Capital Reserve Surplus (Deficit) ($10,496) Please note that the proposed budget is projected to result in a deficit in the Projected Capital Reserve as compared to the Reserve. Given the current economic climate and its impact on our neighbors, the Board thought it best to not increase the annual dues this year with the expectation of rebuilding the capital reserve in future years.

2 The Board of Directors has recommended the following as Board Members and as Officers for the Fiscal Year # BOARD MEMBERS OFFICERS/COMMITTEE CHAIR 1 Denise Anderson Megaphone 2 Andrea Arnold Neighborhood Activities 3 Mark Chapman Club House 4 Nancy Faulkner 5 DeAnn Hanson Neighborhood Activities 6 Steve Johns 7 Bob Kiersznowski Pool and Volunteer Work Force 8 Bill Koppen Maintenance, Landscaping and Flowers 9 Harlan Mayberry Architecture 10 Darren Nutt President 11 Steve Oliva Vice President and Treasurer 12 Martha Perdikis Welcoming 13 Arlan Van Engen COMMENTARY I hope to see you at the May 4 th meeting. If you are unable to make the meeting, please fill out the enclosed Proxy and return it to: Woodlands Homes Association Granada Lane Leawood, Kansas Call or me if you have any questions at or HBEkc@kc.rr.com. Steve Johns, President

3 Woodlands Budget 5 Year Projection Potential Future Budget As of 3/28/ Woodlands Homes Association Approved 0809 Budget, 0809 Projection, Unapproved FiveYear Projection Budget Projection Dues per Homeowner, with inflation (3%) Income 7 Annual Dues Income (less 2x dues nonpayment) 91,482 85,906 91,482 94,168 97,012 99, ,858 8 Interest on Bank Account 2, ,372 1,455 1,498 1,543 9 Clubhouse Usage NonBudgeted Benefit 11 Total Revenue 93,532 86,631 92,082 95,540 98, , , Operating Expenses w/inflation (3%) 13 Insurance 5,535 5,301 5,500 5,665 5,835 6,010 6, Other Admin (incl Legal Fees & Taxes) 1,957 1,700 1,900 1,957 2,016 2,076 2, Accounting Services 2,472 2,400 2,400 2,472 2,546 2,623 2, Club House Maint (& Events) 4,097 3, Club House Maintenance 2,350 2,421 2,493 2,568 2,645 Incl Bathroom Door Replacemant 18 Clubhouse Social Events 1,000 1,030 1,061 1,093 1, Landscape Maint/Grass Mowing 27,607 25, Landscape Maint/Grass 22,000 21,500 22,145 22,809 23,494 To Include Creek Cleanup in Landscape Maint/Flowers 4,750 4,893 5,039 5,190 5, Pool Maintenance (incl water) 9,566 8,000 9,566 9,853 10,149 10,453 10, Water (Roe +127th Sprinklers) 6,077 5,800 6,075 6,257 6,445 6,638 6, Trash 24,155 22,355 24,050 24,772 25,515 26,280 27, Sprinkler System Maint/Repair 2,822 4,861 3,000 3,090 3,183 3,278 3, Tree Maintenance 1, Annual Capital Replacement Funding 7,959 7,959 8,879 9,145 9,420 9,702 9, Total Operating Expenses 93,277 86,576 92,070 93,672 96,482 99, , Income Less Operating Expenses ,868 1,985 1,977 2,043 Apply to Reserve catchup Funded Capital Rep/Long Term Maint w/inflation (3%) 0 years out 1 year out 2 years out 3 years out 4 years out As of EOY Annual Capital Replacement Funding (7,959) (7,959) (8,879) (9,145) (9,420) (9,702) (9,993) 33 Refrigerator (Clubhouse) Replace in 8 years 34 Water Heater (Clubhouse) Replace in 12 years 35 Furnace (Clubhouse) Replace in 12 years 36 A/C (Clubhouse) Replace in 12 years 37 Rug (Clubhouse) Replace in 11 years 38 Sofa and Chairs (Clubhouse) Replace in 5 years 39 Roof (Clubhouse) Replace in 33 years 40 Deck Replacement (Clubhouse) Replace in 6 years 41 Deck Sealing (Clubhouse) 1,500 Replace in 0 years 42 Cement Walks PH1 (Clubhouse) 3,090 4,500 Replace in 1 years 43 Cement Walks PH2 (Clubhouse) 3,183 Replace in 3 years 44 Cement Driveway (Clubhouse) 7,426 Replace in 3 years 45 Paint (Clubhouse) 3,094 Replace in 1 years 46 Windows, doors, siding, misc repairs (Clubhouse) 5,471 Replace in 20 years 47 Pool Liner (Pool) Replace in 22 years 48 Pump, filter, misc equipment (Pool) 4,000 5,305 Replace in 0 years 49 Furniture (Pool) Replace in 0 years 50 Fence (Pool) 2,600 Replace in 0 years 51 Woodlands Directory Replace in 3 years 52 Replacement/Upgrade/Repair of Entrance/Island Landscaping, etc A Replace in 23 years 53 Replacement/Upgrade/Repair of Entrance/Island Landscaping, etc B 15,000 7,747 Replace in 24 years 54 Replacement/Upgrade/Repair of Entrance/Island Landscaping, etc C 7,500 Replace in 4 years 55 Entrance Monument Repair 4,500 Replace in 0 years Total Funded Capital/Long Term Maint Expenditures 10,631 5,499 8,221 (6,051) (9,420) 6,712 (2,493) Dues TotOpExp TotCapExp (10,376) (5,444) (8,209) 7,920 11,405 (4,735) 4, Funds on Hand at Start of Year 44,919 44, Actual funds available after subtracting amount owed to HACCD on June 1st, 08 29, Projected YearEnd Funds (May 31) 34,543 39,475 15,826 23,745 35,150 30,415 34, Projected year end funds after subtracting amount owed to HACCD on June 1st, 08 24, Reserve w/ Inflation (Reserve for Funded Capital 34,032 34,032 26,322 32,373 41,793 35,081 37, Replacement/Long Term Maintenance) 67 EOY Surplus (Deficit) including Reserve 511 5,443 (10,496) (8,628) (6,643) (4,666) (2,623) Surplus(deficit) after accounting for amount owed to HACCD on June 1st 08 $ (9,997.34) Tentative FY 0910 Budget

4 Woodlands Reserve Estimate As Of 3/21/2009 Current View Reserve Estimate for 0910 (as of 3/21/09) Replacement Items (2008) Updated (2009) Expected Annual Funding as of 2009 Expired Funds for Remaining Reserve May 31, 2010 After Replacement Spending Clubhouse: Dishwasher will not be replaced Refrigerator $ 515 $ $ 44 4 $ $ 177 Water Heater $ 515 $ $ 35 3 $ $ 106 Furnace $ 2,060 $ 2, $ $ $ 424 A/C $ 2,060 $ 2, $ $ $ 424 Rug $ 2,575 $ 2, $ $ $ 707 Sofa and Chairs $ 1,236 $ 1, $ $ $ 637 Roof $ 8,240 $ 8, $ $ 1, $ 1,485 Deck Replacement $ 7,210 $ 7, $ $ 5,401 6 $ 5,401 Deck Staining $ 1,545 $ 1,591 5 $ $ 1,591 0 $ Cement Walks (Partial #1) $ 3,090 $ 4, $ $ 4,500 1 $ Cement Walks (Partial #2) $ 3,090 $ 1, $ $ 1,408 3 $ 1,408 Cement Driveway $ 7,210 $ 7, $ $ 6,535 3 $ 6,535 Paint $ 3,605 $ 3,713 6 $ $ 3,094 1 $ 3,094 Windows, doors, etc $ 4,000 $ 4, $ $ 20 $ Pool: Lining $ 20,600 $ 21, $ $ 2, $ 2,546 Equipment $ 5,150 $ 5, $ $ 3,713 3 $ 3,713 Furniture $ 2,060 $ 2, $ $ 1,485 3 $ 1,485 Fence (incl filling gap at bottom) $ 4,120 $ 6, $ $ 1,200 0 $ Woodlands Directory $ 500 $ $ $ 3 $ Entrances/Landscaping/Misc: Replacement/Upgrade of Entrance/Island Landscaping, etc A $ 15,450 $ 15, $ $ 1, $ 1,273 Replacement/Upgrade of Entrance/Island Landscaping, etc B $ 15,000 $ 15, $ $ $ 618 Replacement/Upgrade of Entrance/Island Landscaping, etc C $ 7,500 4 $ 1,875 0 $ 4 $ Entrance Monument Repair $ 4, $ $ 4,500 0 $ Total $ 109,831 $ 126,602 $ 8,838 $ 41,826 $ 30,035 Replacement Items Current View Reserve Estimate for 0809 (as of 5/2/08) (2007) Updated (2008) Expected Annual Funding as of 2008 Expired Reserve for Remaining Clubhouse: Dishwasher will not be replaced Refrigerator $ 500 $ $ 43 3 $ Water Heater $ 500 $ $ 34 2 $ Furnace $ 2,000 $ 2, $ $ A/C $ 2,000 $ 2, $ $ Rug $ 2,500 $ 2, $ $ Sofa and Chairs $ 1,200 $ 1, $ $ Roof $ 8,000 $ 8, $ $ 1, Deck Replacement $ 7,000 $ 7, $ $ 5,408 5 Deck Staining $ 1,500 $ 1,545 5 $ $ 1,236 1 Cement Walks (Partial #1) $ 3,000 $ 3, $ $ 3,090 0 Cement Walks (Partial #2) $ 3,000 $ 3, $ $ 2,596 4 Cement Driveway $ 7,000 $ 7, $ $ 6,056 4 Paint $ 3,500 $ 3,605 5 $ $ 2,884 1 Windows, doors, etc $ 500 $ $ $ Pool: Lining $ 20,000 $ 20, $ $ 1, Equipment $ 5,000 $ 5, $ $ 3,090 4 Furniture $ 2,000 $ 2, $ $ 1,236 4 Fence $ 4,000 $ 4, $ $ 15 Woodlands Directory $ $ $ Entrances/Landscaping/Misc: Replacement/Upgrade of Entrance/Island Landscaping, etc A $ 15,000 $ 15, $ $ Replacement/Upgrade of Entrance/Island Landscaping, etc B $ 15,000 $ 15, $ $ Replacement/Upgrade of Entrance/Island Landscaping, etc C $ 15,000 $ 15, $ 618 TBD $ 618 TBD Replacement/Upgrade of Entrance/Island Landscaping, etc D $ 15,000 $ 15, $ 618 TBD $ 618 TBD Replacement/Upgrade of Entrance/Island Landscaping, etc E $ 15,000 $ 15, $ 618 TBD $ 618 TBD Total $ 148,200 $ 153,146 $ 7,959 $ 34,032

5 I/We Proxy [Print Homeowner Name(s)] Address being a Homeowner in the Woodlands hereby appoint [Print Name of Proxy] Address or, failing him/her, the Chairman of the meeting as my/our proxy to attend, speak and, on a poll vote on my/our behalf at the annual meeting of Woodlands Homeowners to be held on Monday, May 4, 2009 at 7:00 pm, and at any adjournment thereof, and to vote or abstain from voting as follows on the resolutions to be proposed at such meeting: Receipt of the notice is incorporated by reference into this proxy, and my proxy is vested with all the powers the undersigned would possess if present personally at said meeting or at any meeting held pursuant to an adjournment or postponement thereof. I hereby revoke all proxies by the undersigned heretofore made. Please indicate with an "X" in the appropriate spaces below how you wish your votes to be cast. If you return this form duly signed without any specific directions, the proxy will vote or abstain at his discretion Budget Election of Slate of Directors (see Notice) For Against Abstain Signature of Homeowner(s) Named Above Signature of Homeowner(s) Named Above Date