AGENDA SMVE Homeowners Association BOD Meeting September 19, 3:30 PM Clubhouse

Transcription

1 AGENDA SMVE Homeowners Association BOD Meeting September 19, 3:30 PM Clubhouse Overview: 1) Call to order at 3:3 0 PM 2) Action taken by unanimous written consent on July 2, 2016: 1) Approve June Board meeting minutes. 2) Approve expense of $2,400 in operating expense/pool furniture and fixtures to replace vinyl straps on 21 chaise lounge chairs at North pool. Contractor is D&J Patio Furniture Repair. 3) Approve $5,500 in capital expense to replace two leaking poly irrigation lines along Largo Salici with PVC. Contractor is Cherry. 4) Approve transfer of $100,000 to Capital Reserve Fund. 3) Resident Concerns (15 min) Reports: 1) Treasurer (Larry Spencer) 2) Security (Joe Steiner) 3) Landscape (Kathy Mitton) 4) Recreation, Pools, Tennis (Kip Longan) 5) Maintenance 6) Architecture (Guy Scharf) a) Recent requests and status 7) Communications (Guy Scharf) a) Real estate status b) New homeowners this year c) Call for website articles and newsletter schedule Unfinished Business: New Business: 1. How often do we need to sweep the streets? We currently sweep quarterly. 2. Review WLB Pavement Evaluation. Do we want presentation from WLB? Decide on next steps (request bids for road work?). 3. Revise finance committee charter with more detail and membership guidelines. 4. Request approval for small refresh projects on Velazquez (by mailboxes and parking lots) to be funded by available funds in Landscape Extra budget. 5. Increase HOA Transfer fee from $210 to $250 effective October 1, Possible Executive Session Adjourn

2 Landscape Report for September 2016 HOA Meeting Operations continue smoothly. Overall we ve spent 50% of operational and had an unexpected capital project of We are on target to under run our packrat budget and landscape extra budget though special projects could take this closer to 100%. We are on target to come close to 100% of our monthly maintenance budget, subcontract budget and irrigation budget. Items of note for summer: Mr. Packrat inspected and removed 9 nests in July on or near maintained common areas. He ll be back in October for final 2016 run. - 2 Long runs of irrigation on Largo Salici were breaking frequently (approximately 1 or 2 a week). They were replaced with PVC because poly lifetime is too short for cost to replace. One run, which waters Largo Salici and trees on Sempreverde across from pool, are all PVC now. This run also feeds southern Sempreverde though none of that was changed out. When this run breaks, then most of Sempreverde (with exception of far south where we have another valve) is not watered. The 2nd run which feeds the front entrance had just the Largo Salici piece replaced and it ties into Poly on Sempreverde. Since the Poly was new this year, we ll wait until it starts failing (2-5 years) before replacing it with PVC. - Replace main backflow valve at south pool. Had bad leak and was almost impossible to get water off. Valve was original and needed replacement versus refurbishment. Also required testing and permit. Identified a number of homes (17) with very weedy yards. Put article on web asking homeowners to remember to keep yards neat and tidy especially with summer weeds. Article suggested having a weed strategy particularly for those homeowners who are gone when monsoons create extra weeds. A couple yards were cleaned up shortly after the article went up. Remaining yards are still weedy and sent notification to 8 homeowners September 7th Coming items of import: Bartlett will be trimming a number of large mesquites in early October (currently scheduled for October 3rd). These were trees that were identified in the 3-year plan and we re working on last trees of that plan. Several homeowners have complained about mistletoe in Mesquites that were not part of the 3-year plan. These trees are located on smaller common areas with less visibility to the community (trees on highly visible common areas are prioritized first). Bartlett will be drawing up a new plan for the next couple of years and we will see where these trees fall in the plan. Priority will be 1) trees visible to most of community such as those at pools and entrance way 2) trees in dire need of attention in less visible locations. This will be part of budget request I submit for The area the fire marshal identified in spring as being problematic (south of sunrise, west of Largo Salici) will be cleaned up in October or November. It contains a lot of dead brush that becomes fire hazard. Cost is $1025. At same time we ll remove some prickly pear cactus between 5500 and 6666 Sempreverde as this has become an ongoing packrat issue. Finally, request to do 3-4 small refresh projects on Velazquez using underspend in Landscape Extra Budget. Landscape extra is currently spent at 33% and this includes the bills to come for the cleanup mentioned earlier. We have identified 4 scruffy common areas on Velazquez (also requested by homeowners) for refresh. Refresh includes repairing riprap as needed or recontouring and spreading granite (none currently have any remaining granite). No plantings would be done, as these are not under irrigation. Areas (in priority order) and cost are as follows: o Mailbox area between 5520 and 5500 Velazquez (east side) (approximately 600$) o Mailbox area between 5335 and 5315 Velazquez (west side) (approximately 900$)

3 o Common area between 5252 and 5230 (east side) o Common area between 4920 and 4910 (east side) (approximately 1300$) If all projects were approved this would take us to 50% spend of landscape extra budget which leaves plenty of wiggle room for other crisis before year end. These projects would be done and billed this year. Real Estate Status as of 9/16/2016: 18 New homeowners this year 1 Property in escrow 1 Home for sale

4 Proposed Revised Finance Committee Charter A Finance Committee is established with the Treasurer as chairman, President as ex-officio member, and at least one additional Board member and one HOA homeowner who is not also a Board member. All Committee members have equal voting rights. The committee responsibilities include, but are not limited to: Implementing the HOA investment policy Selecting, opening, and closing accounts with banks or other financial institutions used by the HOA Recommending outsourced bookkeeping or bill payment firms to the Board Recommending HOA dues payment processes and options to the Board Recommending HOA transfer fees and processes and options to the Board Recommending annual dues amount to the Board Creating of the scope of work used for audits as needed Recommending an auditor, as needed, to the Board Developing, approving, or recommending financial policies and procedures to the T reasurer or Board as needed Assisting in the development of Operating and Capital budgets as requested by the T reasurer Recommending Operating and Capital budgets to the Board Collecting and providing information to the Committee to perform the above functions The Treasurer reports significant decisions and issues to the Board Approved by SMVE HOA Board of Directors on xxx/xxx/2016

5 SUNRISE MOUNTAIN VIEW ESTATES HOMEOWNERS ASSOCIATION, INC. FINANCIAL STATEMENTS FOR THE 8 MONTHS ENDED AUGUST 31, 2016

6 The financial statements are prepared in accordance with the modified cash basis of accounting. With the exception of recording homeowner dues receivable, prepaid insurance, and deferred homeowner dues received in advance, revenues are recorded when received rather than when promised or earned. Previously expenses were recognized when cash was distributed rather than when the obligation was incurred. HBL CPAs, the association s bookkeeper, implemented an updated software package in mid-may Invoices are now recorded upon receipt as accounts payable expenses regardless of when payment is actually made. This results in a one-time bump in recorded expenses because recognition of some expenses is advanced one month, resulting in two months of expenses being recorded in one month. For this reason, some May and June expenses, especially trash collection and utilities, appear higher because expenses are recognized sooner. Year-end expenses will also be higher as the year will include thirteen months of some expenses rather than the usual twelve. This is a one-time event that affects accounting, but not actual cash expenditures, for this year. However, the new process more accurately reflects current obligations. Another change is that the HOA Treasurer will prepare monthly reports January through November. Reports will be prepared primarily using QuickBooks software provided by HBL, and only using data provided by HBL. This report preparation change was made to avoid a significant increase in bookkeeping fees. HBL CPAs will prepare December year-end reports just as it has in the past. The reports that follow are not audited. Following are the: 1. Balance Sheet 2. Statement of Revenues & Expenses 3. Change in Funds Balance report 4. Prorated Budget vs. August 2016 Actuals report 5. Prorated Budget vs. January - August 2016 Actuals report 6. Capital Expenditures report

7 Sunrise Mountain View Estates Homeowners Association Balance Sheet As of August 31, 2016 CAP OPER TOTAL ASSETS Current Assets Bank Accounts 100 BBVA Compass Checking 1, $1, Chase Bank Checking 35, $35, BBVA Compass Savings 247, $247, Capital One Savings 248, $248, Chase Bank Money Market 13, $13, California First Natl Bank 92, $92, Total Bank Accounts $340, $299, $640, Accounts Receivable 107 Accounts Receivable $92.50 Total Accounts Receivable $0.00 $92.50 $92.50 Other current assets 120 Prepaid Expenses 1, $1, Total Other current assets $0.00 $1, $1, Total Current Assets $340, $301, $641, TOTAL ASSETS $340, $301, $641, LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable 200 Accounts Payable 9, $9, Total Accounts Payable $0.00 $9, $9, Other Current Liabilities 210 Prepaid Homeowner Dues 146, $146, Total Other Current Liabilities $0.00 $146, $146, Total Current Liabilities $0.00 $155, $155, Total Liabilities $0.00 $155, $155, Equity 300 Fund Balance 368, , $378, Net Income -28, , $107, Total Equity $340, $145, $485, TOTAL LIABILITIES AND EQUITY $340, $301, $641,518.13

8 Sunrise Mountain View Estates Homeowners Association Statement of Revenues & Expenses January - August, 2016 CAP OPER TOTAL Income 400 Homeowner Dues 293, $293, Interest Income 1, , $2, Other Income $ Total Income $1, $295, $296, Gross Profit $1, $295, $296, Expenses 1 North Pool $ North Pool Maintenance 7, $7, North Pool and Spa Repairs 1, $1, North Pool Gas 15, $15, North Pool Water 4, $4, North Pool Electric 5, $5, North Pool Tennis Ct Repairs $ North Pool Security $ North Pool Other $20.15 Total 1 North Pool , $35, South Pool $ South Pool Maintenance 4, $4, South Pool Gas 6, $6, South Pool Water 2, $2, South Pool Electric 4, $4, South Pool Tennis Ct Repairs $ South Pool Security $ South Pool Other $35.75 Total 2 South Pool , $19, Common Area $ Common Area Water 5, $5, Common Area Electric $ Common Area Telephone $ Common Area Trash Collection 32, $32, Landscaping Monthly 19, $19, Landscaping Extras 3, $3, Landscaping - Packrat Control 3, $3, Irrigation System Repairs 1, $1, Landscaping Subcontract 8, $8, Road Repairs and Maintenance 1, $1, Security 3, $3, Sidewalk and Curb Repairs 4, $4, Common Area Other 1, $1, Total 3 Common Area , $86, Clubhouse $0.00

9 920 Cleaning 4, $4, Clubhouse Repairs/Maintenance $ Total 4 Clubhouse , $4, General $ Office Supplies $ Postage $ Printing 1, $1, Meeting Expense 1, $1, Bank and Service Charges $ Insurance 2, $2, Accounting/Bookkeeping 5, $5, Legal 1, $1, Taxes $ Fees and Permits $ Other $75.36 Total 5 General , $14, Capital Expenditures $ Capital Expenses 30, $30, Total 6 Capital Expenditures 30, $30, Total Expenses $30, $159, $189, Net Operating Income $ -28, $136, $107, Net Income $ -28, $136, $107,337.85

10 Sunrise2Mountain2View2Estates2Homeonwers2Association Changes in Fund Balance Jan - Aug 31, 2016 Capital Reserve Fund Operating Fund Total Fund balance at beginning of period $213, $164, $378, Capital'Reserve'Contribution'from'Operating Fund $155, ($155,020.00) Reimburse Operating for Capital Expenses Paid ($30,139.43) $30, Retained income $1, $106, $107, Fund balance at the end of period $340, $145, $485, Note: 1. Balance sheet line "300 Fund Balance" is the sum of beginning fund balance and reclassifications.

11 Sunrise Mountain View Estates Homeowners Association Prorated Budget vs. August 2016 Actuals Income Total Actual Budget over Budget % of Budget 400 Homeowner Dues 36, , % 504 Interest Income % 550 Other Income % Total Income $37, $36, $ % Gross Profit $37, $36, $ % Expenses 1 North Pool 702 North Pool Maintenance 1, % 703 North Pool and Spa Repairs % 704 North Pool Gas , , % 70S North Pool Water % 706 North Pool Electric % 722 North Pool Fum & Fixtures North Pool Tennis Ct Repairs North Pool Security % 725 North Pool Other % Total 1 North Pool 3, , % 2 South Pool 802 South Pool Maintenance % 803 South Pool & Spa Repairs South Pool Gas , % 805 South Pool Water % 806 South Pool Electric % 822 South Pool Fum & Fixtures South Pool Tennis Ct Repairs South Pool Security % 825 South Pool Other Total 2 South Pool 1, , , % 3 Common Area 905 Common Area Water % 906 Common Area Electric % 907 Common Area Telephone % 908 Common Area Trash Collection 3, , % 910 Landscaping Monthly 2, , % 911 Landscaping Extras , , % 912 Landscaping - Packrat Control Irrigation System Repairs % 915 Landscaping Subcontract 3, , , % 916 Road Repairs and Maintenance % 917 Security % 918 Sidewalk and Curb Repairs

12 919 Common Area Other % Total 3 Common Area 11, , % 4 Clubhouse 920 Cleaning % 921 Clubhouse Repairs/Maintenance Clubhouse Other Total 4 Clubhouse % 5 General 923 Office Supplies Postage Printing Meeting Expense Bank and Service Charges Insurance % 931 Accounting/Bookkeeping 1, % 932 Legal Taxes Fees and Permits Other Total 5 General 1, , , % 6 Capital Expenditures 995 Capital Expenses 2, , , % Total 6 Capital Expenditures 2, , , % Total Expenses $21, $30, $ -8, % Net Operating Income $15, $6, $8, % Net Income $15, $6, $8, %

13 Sunrise Mountain View Estates Homeowners Association Prorated Budget vs. January - August 2016 Actuals Income Total Actual Budget over Budget % of Budget 400 Homeowner Dues 293, , % 500 Chase Interest/Dividend Income UBS Interest/Dividend Income Capital One Interest BBVA Compass Interest Interest Income 2, , % 550 Other Income % Total Income $296, $294, $1, % Gross Profit $296, $294, $1, % Expenses 1 North Pool 702 North Pool Maintenance 7, , , % 703 North Pool and Spa Repairs 1, , % 704 North Pool Gas 15, , , % 705 North Pool Water 4, , % 706 North Pool Electric 5, , , % 722 North Pool Fum & Fixtures North Pool Tennis Ct Repairs % 724 North Pool Security , % 725 North Pool Other % Total 1 North Pool 35, , % 2 South Pool 802 South Pool Maintenance 4, , % 803 South Pool & Spa Repairs 2, , South Pool Gas 6, , , % 805 South Pool Water 2, , % 806 South Pool Electric 4, , % 822 South Pool Furn & Fixtures South Pool Tennis Ct Repairs % 824 South Pool Security , % 825 South Pool Other % Total 2 South Pool 19, , , % 3 Common Area 905 Common Area Water 5, , , % 906 Common Area Electric % 907 Common Area Telephone % 908 Common Area Trash Collection 32, , % 910 Landscaping Monthly 19, , % 911 Landscaping Extras 3, , , % 912 Landscaping - Packrat Control 3, , , % 914 Irrigation System Repairs 1, , %

14 915 Landscaping Subcontract 8, , , % 916 Road Repairs and Maintenance 1, , % 917 Security 3, , % 918 Sidewalk and Curb Repairs 4, , , % 919 Common Area Other 1, , % Total 3 Common Area 86, , , % 4 Clubhouse 920 Cleaning 4, , % 921 Clubhouse Repairs/Maintenance , , % 922 Clubhouse Other 1, , Total 4 Clubhouse 4, , , % 5 General 923 Office Supplies , % 924 Postage % 925 Printing 1, , % 926 Meeting Expense 1, , , % 928 Bank and Service Charges % 930 Insurance 2, , % 931 Accounting/Bookkeeping 5, , % 932 Legal 1, , , % 933 Taxes % 934 Fees and Permits % 935 Other , , % Total 5 General 14, , , % 6 Capital Expenditures 995 Capital Expenses 30, , , % Total 6 Capital Expenditures 30, , , % Total Expenses $189, $241, $ -51, % Net Operating Income $107, $53, $53, % Net Income $107, $53, $53, %

15 Sunrise Mountain View Estates Homeowners Association Capital Expenditures Report Jan - Aug 2016 Planned Expenses: Month actual Year to date actual Project to date actual % of budget Reserve study components expected to be completed 215 Asphalt - Seal/Repair 2016 $ - $ $ 0% $ 60, N Tennis Court - Resurface 2016 $ - $ - $ - 0% $ 6, Total reserve study components $ - $ - $ - 0% $ 66, Reserve study components deferred until required 965 S Pool Heater - Replace 2016 $ - $ 3, $ 3, % $ 3, S Spa Heater - Replace 2016 $ - $ 3, $ 3, % $ 2, Total deferred s $ 7, $ 7, % $ 6, Other Capital Expenses E01 Refurbish Clubhouse Landscaping (south side) $ - $ 14, $ 14, % $ 14, Total other capital expenses $ - $ 14, $ 14, % $ 14, Budget Total budgeted other $ 22, $ 22, % $ 86, Unplanned expenses: Reserve study components Total unplanned reserve study $ - $ - $ - 0% $ - Other capital expenses E05 Pavement Evaluation $ 2, $ 2, $ 2, % $ 6, E06 Irrigation Upgrade $ 5, $ 5, $ 5, % $ 5, Total other capital expenses $ 7, $ 7, $ 7, % $ 11, Total unplanned capital expenditures $ 7, $ 7, $ 7, % $ 11, Total capital expenditures $ 7, $ 30, $ 30, % $ 98,250.00