13th Annual Homeowners Meeting. October 6, 2018 Southwind Rec Center 10:00 a.m.

Transcription

1 13th Annual Homeowners Meeting October 6, 2018 Southwind Rec Center 10:00 a.m.

2 Call to Order Establishment of Quorum

3 AGENDA Call to Order /Establishment of Quorum Seven Springs Jeff Coulter * Board Member Introductions / Homeowners Acri Property Management Introductions Maintenance Team introduction Approval of Minutes ~ October 7, 2017 President s Report Treasurer Report - Financials Manager s Report and Maintenance Report Committee Reports Nominating committee Election Results ACC Cost Savings/Transition Landscaping * Recreation Center/Pool Social 2018/2019 Board Meeting Schedule Adjournment

4 Board Member Introductions Joe Palko, President Jane Clark, Treasurer/Secretary Michael Kearney Jim Best Vacant

5 what's in your cup?"

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7 The majority of the long range models are indicating a winter that starts early and lingers into spring. The wildcard is that some models are showing a warmer than normal December, but ocean water temperatures are not favorable for that. El Ninos that start late in the year are indicated by tropical storms moving across Mexico and the Southwest US (Rosa) and relate to cold starts to winters and prolonged winters Recent years that had similar conditions were winter of , and

8 Acri Property Management Introductions Rinaldo Acri, Association Manager Carol Sosko, Assistant Manager Bridget Hensel, Office Assistant

9 Homeowner RoundAbout

10 Seven Springs Update Jeff Coulter - Seven Springs

11 Maintenance Team NJ Newman

12 Approval of Minutes of the 12 th Annual Meeting October 7, 2017

13 Past year summary/ Upcoming plans No increase in dues Improvement of Lift Exit area. Driveway reserve credit $1000 Sealed Driveways - Phase 2 Crack Seal roadways Selected roadway repairs Homeowner signout: Water pressure gage, vampliers, radon detector Beach area replacement Aquasafe Diamond-Brite AED added in gym/rec center lower level November 2017 Fire in Southwind and lessons learned Rec Center Camera/Security system & Pool trespass violations Pool furniture refurbish. Bake on powder coat and straps. Pool attendant

14 Special Snow Removal carryover fund Street light LED replacement, Flag pole, Dark Sky LED light on side entrance of rec center Wooden sign & Dumpster shelter refurbishment & hardware Identify and find solutions to drainage problem areas Entrance landscape lighting, and select winter lighting in community Landscape redo/tree Shrub replacement Bowlby Phase 1 Symmons Faucets Lifetime guarantee Kitchen Vella, bathsink S-20, Shower S2000 Desktop PC donations

15 Financials Fiscal Year 2018 Jane Clark, Treasurer

16 TREASURER S REPORT by Jane Clark 1. Our run of mild winters continued through the 2017/2018 year, and the resulting reduced spending for snow related activities has again produced an excess of revenues over expenses. For the fiscal year ending 6/30/2018 that excess was approximately $30,000 before any auditor s adjustment. 2. Our Reserves have again been fully funded for the 2018 fiscal year, and combined with frugal spending by the Board for Reserve related items, provides Southwind with a healthy Reserve balance to date. 3. In addition to the items included in our Reserve Study, the Board has added a fully funded $100,000 Snow Reserve to provide additional funding if, or when, we face a heavy snow winter. Additionally this year, the Board has voted to fund a Driveway Replacement Reserve which is designed to aid individual homeowners in the replacement of their driveways. $1,000 will be available to each owner to be used for their driveway replacement or major repair. The $160,000 needed to fully fund this Reverse will be taken from our existing Reserve Funds and will not require any special assessment or increase in dues. 4. The 2019 budget includes an increase in the cost of our operations due to normal inflation. This increase is being absorbed by a slight decrease in the Reserve funding. It is not anticipated that this will negatively impact our Reserve Fund balance and therefore allows for no increase in the 2019 Dues assessment. Conclusion: Financially, the HOA remains on solid footing as we continue to not only meet, but exceed, our financial obligations while holding the line on any Dues increase.

17 Southwind at Lake Tahoe Homeowners Association Actual vs Budget Actual Budget Budget FY2018 FY2018 FY2019 Revenue Maintenance Fees 480, , ,600 Late Fees 11,187 2,000 2,000 Interest Operating Miscellaneous 4,554 2,500 2,500 Party Room Rental Maint. Billbacks (523) Total Revenue 495, , ,000

18 Actual Budget Budget FY2018 FY2018 FY2019 Expenses Gatehouse Electric 1,238 1,700 1,700 Telephone 2,104 1,400 1,400 Building Repair/Maint ,900 3,900 Gates 4,824 1,400 1,400 Gatehouse Total 8,687 8,400 8,400 Ski Lift Ski Lift Operations 22,544 25,100 25,100 Ski Lift Maintenance 0 14,600 14,600 Electric 6,275 6,000 6,000 Snow Making/Grooming 12,863 25,900 25,900 Total Ski Lift 41,682 71,600 71,600 Recreational Amenities Water/Sewer 67 1,200 1,200 Electric 6,218 4,600 4,600 Natural Gas 8,893 5,500 5,500 Cable/Phone 1,001 2,000 2,000 Pool/Hot Tub Maintenance 35,278 9,500 9,500 Exercise Room 3, Security Monitoring 1, Suppies General 6,504 4,000 4,000 Total Recreational Amenities 62,284 27,600 27,600

19 Actual Budget Budget FY2018 FY2018 FY2019 Grounds & Maintenance Water 1, Electric 1,981 2,000 2,000 Landscaping Common Ground Spring Clean-up 11,734 11,500 11,500 Mulch 2,860 13,900 13,900 Mowing 21,881 30,500 30,500 Lawn Treatment 8,476 13,500 13,500 Fall Clean-up 3,740 3,200 3,200 Exterior Light Maintenance Ski Trail Landscaping Tree/Shrubs 1,584 6,600 6,600 Other Landscaping 6,900 4,700 4,700 Painting - Limited 4, Road Maintenances Plow/Ash 55,546 55,000 55,000 Sidewalk Snow Removal 41,631 33,700 33,700 Snow/Ice Removal Roofs Road Repair 33,513 28,700 28,700 Storm Drain Repair/Maint. 2,300 3,000 3,000 Maintenance Supplies Contract Labor 10,858 15,000 15,000 Storage 3,925 3,200 3,200 Building Maint. Exterior 0 3,600 3,600 Total Grounds & Maintenance 213, , ,500

20 General & Administrative Actual Budget Budget FY2018 FY2018 FY2019 Socials Bad Debt Expense 15, General Supplies/Expenses 6,264 9,000 9,000 Rec. Center Cleaning 5,143 5,400 5,400 Real Estate Taxes Accounting 5,318 6,900 6,900 Legal 0 5,000 5,000 Security 11,475 11,500 11,500 Garbage 13,302 14,000 14,000 Shuttle 35,522 36,000 36,000 Management Fee 34,856 40,200 40,200 Insurance 12,319 12,000 12,000 Insurance Deductible 0 1,000 1,000 Total General & Administrative 139, , ,900 Depreciation 0 7,000 7,000 Total Expense 465, , ,000 Net Income (Loss) 30,

21 YTD Actual Budget Budget FY 2018 FY2018 FY2019 Total Income 495, , ,000 Expenses Gatehouse 8,687 8,400 8,400 Ski Lift/Ski slope 41,682 71,600 71,600 Recreational Amenities 62,284 27,600 27,600 Ground Maintenance Expenses 213, , ,500 General & Administrative Expenses 139, , ,900 Depreciation 0 7,000 7,000 Reserve Contribution Total Expenses 465, , ,000 Excess of Income Over Expenses 30,

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23 Southwind at Lake Tahoe Homeowners Association Reserve Funding By Fiscal Year Reserve Study Actual/Budget Yearly Year End Yearly Year End Contribution Balance Contribution Balance FY2014 ** 140, , , ,670 FY , , , ,194 FY , , , ,174 FY , , , ,464 FY , , ,967 1,074,431 FY , ,096 FY , ,261 FY , ,937 FY , ,311 FY , ,266 FY , ,490 FY , ,161 ** Contribution increases includes the initiation fee collected from new homeowners at closing

24 BALANCE SHEET Operating Reserve Fund Fund Total Total Assets Cash & Cash Equivalents 121,053 1,047,200 1,168,253 1,014,057 Amount Due From Members -65, ,931-14,983 Prepaid Expenses 15, ,934 18,225 Fixed Assets, Net of Accumulated 0 0 6,528 Depreciation 27, ,262 0 Due To (From) Operating -27,230 27, Total Assets 71,088 1,074,430 1,145,518 1,023,827 LIABILITIES AND FUND BALANCES Liabilities Accounts Payable 3, ,640 8,202 Deferred Membership Assessments Accrued Expenses Total Liabilities 3, ,640 8,202 Fund Balances 67,448 1,074,430 1,141,878 1,015,625 Total Liabilities and Fund Balances 71,088 1,074,430 1,145,518 1,023,827

25 Delinquent Homeowners Southwind At Lake Tahoe Aged Owner Balances: As of September 30, 2018 Name Current Over 30 Over 60 Over 90 Total Pisciottano Southwind Dr , , , Assessments & Ext. Maint. Moraitis Southwind Dr , , Assessments Only Totals , , ,555.30

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28 Manager s Report Rinaldo Acri, Association Manager Carol Sosko, Assistant Manager

29 Committee Reports ACC Cost Savings Transition Landscaping Recreation Center / Pool Community Rules Social Nominating

30 Nominating Committee Election results Betty Best, Chair/ Cynthia Stanchak/ Jane Clark

31 Architectural Control Committee John Koury, Chair If any homeowner is considering any change to the exterior of their unit, the homeowner must submit an Architectural Control Committee (ACC) application in advance of any work being performed. This would include changes such as privacy walls, radon mitigation systems, satellite dishes, storm doors, roofing changes, deck modifications, etc. For your benefit and the benefit of all other homeowners, please be sure to complete an ACC application if you are considering any change. If any change is completed without prior ACC/HOA approval, the HOA has the right to remove the modification and restore to the original condition at the homeowner's expense. For the more complex requests, the ACC will typically perform an on-site inspection that may require an interaction with the homeowner to ensure all potential HOA concerns are identified and addressed.

32 ACC Procedure: 1 -- Complete an ACC request using the form that can be obtained from the Association Office Provide as specific as possible a detailed drawing/sketch/photographs/catalog information, etc. with dimensions, explanatory notes, etc Need to get adjacent homeowners' approval for exterior changes The ACC chair will perform an on-site "walk through" of the proposal within a reasonable time period The walk through likely will require the homeowner to participate Do not wait until the last minute to submit the ACC request as the review process may require additional information and supplemental submittals from the homeowner Carol will issue the ACC reponse via a formal HOA letter.

33 Deck appearance Green Moss/ Dog Doo Wood Storage, Blue tarps Light fixtures ARTICLE 9 DECORATIVE LIGHTS 9.1 DECORATIVE LIGHTS. White lights are the only color of decorative lighting permitted. Colored lights are not permitted. 9.2 Decorative white lights may be displayed on trees and shrubs during the ski season defined as Nov 15 April 15 (these need to be off of the trees and shrubbery for the landscapers during the rest of the year) 9.3 Decorative white lights permitted on decks and houses year round (except must be removed for scheduled unit painting and maintenance). Currently House rules: No mention of Blowup Christmas decorations Team Flags

34 Cost Savings Committee - Vacant Snow Removal plan Contingency planning for standby snow removal Snowmaking and Grooming & Lift Labor Lift Maintenance Pool Cover warranty $6200 savings Driveway engineering specification for replacement Roof inspections and specification/oversight Painting/sidings/maintenance specification/oversight Selected roadway repairs and drainage problems 1 Dumpster refurbishment $11,000 savings

35 No driveway or sidewalk snow removal will occur until a snow event has ended and there is an accumulation of at least 3 inches. Driveways/sidewalks will only be cleared once after each event. All snow removal will be done in the order determined to be most efficient. Therefore some roads and driveways will be cleared first and others later. Snow removal priority is as follows: 1 - Main Roads 2 - Driveways 3 - Sidewalks Driveways or areas with parked vehicles making access impossible for the snow removal equipment and will not be cleared until the next snow event.

36 Recreation Center/Pool Committee Steve Glaser - Chair Pool Attendant for a portion of 2018 Rearrangement of main floor furniture with conversation areas Removed 12 spruce trees too close to fence allowing better view of valley Remaining ones will pose a problem in the coming years Please inform Carol/Bridget/call Security directly Do not leave voice mail instead Call , 0 to talk to operator Weight room expansion & adding Standalone hot tub tabled.

37 Landscaping Committee Cynthia Stanchak/ Landscaping community walk-throughs conducted two times per year Gate house painting, landscape lighting, Winter lighting scattered throughout the community Gate house artistic sign on gate house gable Pond pump and piping repaired Large pond new light lights Grass cutting contract with NJ Newnam Phase 2-3 planting refresh Please notify office of dead trees/shrubs and other landscaping issues Insect program for trees

38 Social Committee Kim Buckley/ Saturday, May 24, 2019 Pool opening BBQ Saturday October 5, 2019 Annual Meeting Breakfast/Lunch Winter social 2019 date TBD

39 2018 / 2019 Board Meeting Schedule Next Board Meetings: Dec 8, 2018 Rec center 8am Homeowners welcome Check website for upcoming meetings and changes 14 th Annual Homeowners meeting: October 5, 2019

40 Remember New Centerville Fire Company Adjournment

41 Thank You